Why have an eCommerce website?
Why you must have an eCommerce website?
To appreciate why you must setup your online business without any further delay, you would need to know India's internet and eCommerce success story.
India has an internet user base of over 150 million and nearly 10% shop online. Currently the penetration of e-commerce is low compared to markets in developed countries such as the US and UK. However, it is growing at a rapid pace, with new players launching their ecommerce websites every day. The Internet has changed the whole paradigm of doing business. The days of doing business within the confines of brick and mortar are over. Businesses are bidding goodbye to the limitations of yesterday and moving to a new and exciting way of selling and doing business online.
In India, ecommerce is playing an increasingly important role in connecting sellers with buyers, especially due to the large population and increasing efforts of the government to bring internet to the door steps of rural India. In the age of the ever ubiquitous Internet it is no more a surprise when a young boy in a small town or village is found buying products worth several thousand rupees without touching the products or even without meeting a salesman in person. Below are some of the factors which are inducing more and more consumers to buy online:
- Attractive pricing provided by ecommerce websites as compared to prices available in brick and mortar stores.
- Significant low cost of setting up and running an ecommerce business.
- Wider national and global market reach.
- Convenience of ordering online. Consumers can buy at their own convenient time and from the comfort of their bedroom.
- Significant increase in internet users due to increasing broadband and 3G penetration.
- Availability of several convenient online payment options.
- Rising standards of living and a burgeoning, upwardly mobile educated class with high disposable incomes
- Availability of much wider product range compared to what is available at brick and mortar stores.
- Busy lifestyles, urban traffic congestion and lack of time for offline shopping.
- Aspiring individuals in small towns and villages do not have access to many products in their nearby brick-and-mortar store. Buying from an e-commerce website is the option for such consumers.
The scope of e-commerce is enormous. With regional boundaries being diminished by an emerging tax regime of GST and VAT and the gradual move towards a common tax code, doing business beyond your region is becoming easier. The penetration of Internet has created a very large community of internet users which are not bound by the boundaries of a region or a nation, thus making eCommerce the most effective and convenient way of doing business.
The cost of setting up an eCommerce store front is abysmally low when compared with the cost of setting up a brick-and-mortar business. With a very low investment in money and time, you can quickly give your business a global audience. Ignoring the opportunity of using the web to sell your products would make bad business sense.