How to start an online books store in India ? : Guide to Sell books online
Selling books requires a great deal of market knowledge as it is already flooded with numerous players. Whether its the offline or the online market, there is a whole lot of competition. The market has actually reached its saturation because the demand is less and supply is more. However, for those who want to enter the market, should start with something innovative. Here is the quick guide for those who want to step into the market.
Get to know the market
Money is a useful resource. It is scarce and should be utilized to the best of its ability. Before investing any amount, one should go ahead and get all the knowledge regarding the industry. You can start a retail business and also wholesale books from it. In books there is not much profit margin these days. It is as less as 10% in retail and 3% in wholesale or distribution. There is also a lot of variety in books. To know and understand the market you can either work for some time in a bookstore or talk to experts like existing booksellers, publishers etc. The general misconception in the field of bookselling is that the more discount you’ll provide the more customers you’ll get. Whereas the best way to hold on to customers is fulfilling their demands and giving them a huge variety.
The best way to sustain in the books market is to have contacts with everyone including publishers, wholesalers, distributors, fellow competitors, etc. Some publications like to deal directly with retailers while some only work via distributors. For example Tata McGraw Hill, Pearson Education and other similar multi-national publications only deal via distributors.
Keep a bigger variety
Books market is not only about bestsellers or novels. It has one of the biggest ranges in any industry. Invest a crore in stock and you still won’t be able to gather a complete variety. There are academic books, that sub categorize into higher, medium and primary level. Then there are children books, competition books, law books, medical books, general books and books of numerous other topics and subjects. There are books in various languages too. In all it is an exhaustive list but the more you’ll keep the better it will be. Generally people only keep fast selling and in-demand books whereas it shouldn’t be the case. There should be a ready stock of the books available on the portal.
A website or online portal should be designed to understand and take care of customers’ needs. It should be responsive in the sense that it should be compatible with all the various types of devices like tablets, smartphones, laptops etc. and operating systems viz. Android, iOS, Mac, Windows etc. The website should be quick and have a huge database. It should offer as much variety as possible.
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Go ahead and enter the market but only if you have sound survival strategies and preparations.Provide services that others do not. Give them what they need and they’ll hold on to you.