How to start an ecommerce business!
The ecommerce business is witnessing widespread growth and development in India. The ecommerce business is becoming the choice of every business person as it comes with thousands of benefits to the seller and the customers. Ecommerce growth is pushed by the use and introduction of the internet and smartphones among Indian people. The technology has given immense support and contribution to the flourishing of the ecommerce industry in India and the rest of the world. Moreover, affordability and easy access to the internet and technology give small entrepreneurs a chance to enter the ecommerce world.
A market statistic suggests that the ecommerce market in the world is growing at the rate of 25%, and it is estimated that the ecommerce industry will be worth 100$ billion by 2022.
Let us help you with a guide to know how to start and establish an ecommerce business in India.
What is an ecommerce business?
Ecommerce business or an online store is part of digital marketing, where the sellers and business person make an online presence by a social store using social media handles like WhatsApp, Facebook, Instagram, YouTube and others, or an integrated store through a popular marketplace like Amazon, Flipkart, Shopify and other or they make a full-fledged online store or ecommerce website to sell their products to the customer. Through the ecommerce business, everything becomes digital and online. From placing an order to proceeding with the payment. Everything is done digitally using the internet and technology.
How to start an ecommerce business in India?
Many ways can be used to establish ecommerce stores by the sellers. The aspirants willing to start a new ecommerce store need to go through a full-fledged process to establish a good ecommerce store.
There are prominently two ways to start an ecommerce business-
- Establishing your ecommerce website
- Joining a pre-established marketplace to sell the products.
Building Your Ecommerce Website
Starting your eCommerce venture is a rather difficult option to choose as it requires website development, payment gateway integration, online marketing set-up, logistics implementation, and more. However, having your online store will help you build a brand name for yourself, and it’s a very successful business strategy in the long term.
Joining an Established eCommerce Marketplace
Being a part of an established eCommerce marketplace is comparatively easy to start selling on an ecommerce website. To become a part of an eCommerce marketplace, all you need to have is a bank account and a Tax registration number so that you can apply easily. The marketplace will take care of everything, i.e., website design, website development, technology, marketing, payment gateway, etc., thus reducing the workload for new sellers. Also, a seller can join multiple e-commerce marketplaces to mark their presence online, thus making it easier for them to start their online venture.
To start your ecommerce business, you need to start on this process-
- Company registration is the first step for building your ecommerce business. Get your company registered through the official GST account.
- Tax registration, Registrations for paying all the necessary tax like GST and other is important to do. Before starting to sell on the online platforms.
- Open your business bank account with any registered bank, and you need an official business bank account to proceed with all the official payment of your ecommerce store.
- Take access to official payment gateways to make it easy for your customers to pay for what they purchase from your online store. Your website will accept payment through credit card, debit card and other online payment modes.
- Above all, steps are followed for both types of ecommerce business, whether it is a marketplace integrated business or Sellers’ ecommerce website.
You can use an integrated shipping solution if you have a marketplace integrated ecommerce store, and if you have your ecommerce website, then you need to get partnered with a reliable, fast and good shipping partner to ship the products.
Benefits of an ecommerce business
There are multiple benefits of establishing an ecommerce business for the seller. Selling products online have a couple of benefits for the sellers-
Faster order processing and placement
- Flexibility
- Reach to a greater audience
- Easier order management
- More low-cost marketing channels
- Attractive growth opportunities
- Brand recognition and popularity
These are some common advantages of starting an ecommerce business in India. However, they may differ according to the type and nature of the business.
Final thoughts
As we have gone through a well-researched guide on how to start an ecommerce business. You must be knowing how to start a full-fledged ecommerce business and meet the needs of the greater number of audience available online to purchase products with more comfort, convenience and ease. Be careful with establishing an ecommerce business that will fulfil the needs of the customer and the market.
