How Startup business can compete with Flipkart and Amazon
Over the recent years, the market has witnessed a great surge towards e-retailing. More and more people are moving to online marketplace, in search for better variety of options, better discounts and ease of use. In this arena of neck to neck fight, Flipkart and Amazon undoubtedly have captured the Indian market unlike any other. The new start-ups that are happening all over the country, need to make their presence felt to make sure that they are not overshadowed by these giants in the Indian fish market of online retailing.
The first and foremost important thing that you need to keep in mind is having a distinct and well defined Business plan. You need to know and explain to others in the most simplest of terms, as you will be needing to pitch your idea to them. How will you be conducting your business? Where will you procure your goods? What is your market? these are but some of the questions about which you need to be crystal clear. Not only that you also need to make sure that yours is different and distinct in every possible way and has an edge over the existing one. Innovation is the key in setting up a new business in an already existing market.
Logistics is another important aspect you need to keep your eyes fixated upon, your logistics will define how and when your product gets to the customer and money in your pocket. Recent news about Flipkart sending stones instead of laptops only gives an example of their logistic glitch. A strong logistic network will define your service from the business end to the customer end.
Giving the customer the best shopping experience is what will get you traffic on your website, to make sure that it does, make sure that your website interface is top notch and made keeping in mind the ease of use by the customer. You should aim to give the customer a shopping experience of a lifetime, if you can do that then you have already befriended that customer forever.
Understand your market through and through, unless you have a thorough understanding of your market, you can’t survive. Your market is what will define your product focus and the people it is focussed onto. Anticipating customer’s need and being ready to deliver it on his doorstep, even before the need arises is the kind of market understanding you need to have on your tips.
Last, but a very important point to be kept in mind is finding a reliable webhost. Most of the websites create good initial buzz, and when the traffic surge comes in, they come crashing down like a house of cards. To make sure that it never happens with you, pick a good webhost, as it will be hosting your website on it’s servers.
Get ready to struggle, as this is a very competitive market, for every opportunity there are always more than one looking for the top spot. Create your niche image, promote it well and deliver it, your growth will be skyrocketing.