E commerce is one of the fastest emerging business solutions to many who are interested doing business from the comfort their homes.
There are many reasons for people opting for e commerce, main reason being low start up costs involved compared to a physical place.
KEY FACTORS FAVORING THE GROWTH E-COMMERCE:
- Low Start up Cost – You Need A Very Little Investment Compared To Setting Up Physical Store.
- Easy And Fast To Set Up Your On Line Store.
- Increased Buyers Base Being Your Shop Site Can Be Accessed By The Internet Users World Wide.
- Busy Lifestyle And Raised Standard Of Living.
- Emergence of 3 G and 4g Technology for Faster Connections & Use of Smart Phones.
- Increased Use Of Classifieds Sites Like Olx, Quikr.Com, Adlandpro free classifieds For Buying And Selling On Line.
- Cheaper Rates Compared To A Physical Store Where Many Overhead Expenses Are Added To The Final Mrp.
- Evolution Of On-Line Market Place Like Rediff Shopping, EBay, Snap Deal And Many More.
You have seen the advantage of being in e commerce and working from the comfort of your home.
There is a disadvantage to being your negative aspects can aired online and seen by everyone accessing your site or the internet users. You can avoid this by giving exemplary service to your customers.
How to set up your e commerce business.
There are two ways to do it.
If you can invest a considerable amount and have a long list of products set up your own web site. Where your customers can view your products or services, place their orders and pay using their credit/debit cards. Web site creating starts from around 10000 a month (where you can list up to 200 products + other basic infrastructures) to as high as 5,000 a month where you will get all the features, or a one time cost ranging between Rs.25,000 – 50,000
If you do not want to invest and have only a short list of products, you can list your products with rediff.com / e bay and other on line sites, where you are are allowed to list and sell. Some fees may apply or you can list and sell your product / services for free on some sites .
INDIA STATISTICS ON E-COMMERCE:
According to Forrester, the Indian e-commerce market is estimated at Rs 28,500 Crore ($6.3 billion) with in the Asia-Pacific Region at a CAGR of over 57% between 2012–16
According to Forrester, the e-commerce market in India is set to grow the fastest within the Asia-Pacific Region at a CAGR of over 57% between 2012 and 2016.
Overall e-commerce market is expected to reach Rs 1, 07,800 crores (US$ 24 billion) by the year 2015 with both online travel and e-tailing contributing equally.