How to start E-commerce 9 simple Steps – Complete Guide
How to start a successful E-commerce Business
Today we will discuss with you how to start an e-commerce business. Because e-commerce business is going to be very big. About 70 percent of the world’s people use the Internet, and almost half of them prefer to get things at home, so they don’t have to go out and buy things, and they don’t waste their time.
So we say, are you ready to join this e-commerce business? Whether you spell a product yourself or do any business, are you ready to take that business to e-commerce? If you are not ready to take your business to e-commerce, you need to be ready to take your business to e-commerce. Because in the next 3-4 years, e-commerce business is going to grow very fast. So if you are not ready to join e-commerce business, then in this post we will discuss some topics, read those topics in full. And if you are ready for e-commerce business then read the topics of this post. Because the topics we are going to discuss in this post will be very helpful for you. If you follow our tips well, we believe you will be ready to start an e-commerce business.
#1 Best Market Place of E-Commerce Platform
First you need to choose the best platform for you to take your business e-commerce. You need to see which platform is most suitable for your business, which platform will give you more profit, and which platform is more popular to deliver your product to the customer. There are different e-commerce platforms for each business, you have to choose which platform for your business.
Popular e-commerce platform Different business model.
- make my trip
- TripAdvisor etc.
- its handmade
- THE INDIA CRAFT HOUSE etc.
- foodcloud etc.
- make my trip
- itdc travel etc.
- PROPERTY WALA etc.
- KOOVS.com etc.
- HOME SHOP 18
- Indiamart etc.
First you need to understand how popular that platform is to sell your product through that platform, how far the marketplace of that platform has spread, how much reach of that platform.
- High Reach
- Good Will
- Fast Transaction
- Easy to use
- Customer Base
You need to keep these things in mind to see which platform your product is more suitable for. Because if you do not choose a suitable platform for your product, then you will work on that platform but there will be no profit, so if you list your product on the platform that is best for your product, then your work will not be wasted.
#2 Understand Your Competitor & Marketplace
This means that all businesses have competitors, less competition for any business and more competition for any business, there will be competition in the business you are doing. Then you just need to understand Competitor’s business studies, Competitor’s business strategy, Competitor’s business quality, Competitor’s behavior.
Quality of Competitor
- Competitor strength
- Competitor quality
- Competitor Level
Behavior of the Competitor
This means that you need to see what your competitor is priceing on the same thing, what is its product range, what are its policies. How much is the shipment, what kind of discount he is giving on each product, you have to keep an eye on all these things, you have to keep an eye on every behavior of your competitor. Because if you don’t focus on your competitor, then you will not be able to compete with your competitor, your hard work will be useless. Your business strategy needs to be such that you can compete with any competitor.
#3 Product catalog and presentation
Product catalogs and presentations play a big role when you take your business to e-commerce platforms. Spell your product presentation and catalog in such a way that the customer is attracted to your product just by looking at it. Make the presentation better, because your customer can’t touch your product, or talk to you directly, so the photos of that product are of good quality. Get answers to all those questions like coming to your product page. It is the customer’s advantage to buy your product.
#4 Marketplace Merchant Support Service
How is the merchant support in the marketplace where you are selling your product? I mean, how does that marketplace support you, how fast is it interacting with you, your product discounts, your product policy, does that marketplace understand your product? Does that marketplace display your product properly on its platform? Fully supports to display your product. If your customer asks a question about your product in that marketplace, is that marketplace responding to your customer quickly? These are the things you need to see.
If your product photos are good and you have made a good catalog and presentation then it will display your product well in that marketplace to the customer. Sometimes the presentation of your product is good but that marketplace ignores your product. So guys you have to study well the marketplace that you want to join.
#5 Product margin and product fee
- You need to see the margins on your product.
- What percentage of the platform on which you are selling your product is charging you to sell your product.
- Does that marketplace take any fine on product return, unavailable etc.? And even if it is fine, how much is it?
#6 Calculating Ecommerce Shipping Costs: Rates & Fees
Every company has its own policy, every company has a different style. You have to see that the product you are selling, you can do the shipping of the product yourself or shipping to many marketplaces, the marketplace does it yourself, you just have to see which of these two ways you will make more profit.
If your product is shipped by that marketplace itself, then you have to pay a few percent charge like about ten percent. If you sell the product somewhere alongside yourself, you can also deliver the product there yourself.
#7 Marketplace system access and control
You need to see if the marketplace where you sell your product allows you to access and control the system. Because there are so many marketplaces where you can’t properly access and control the system. You can’t show more products there.
Example: If you have 100 products, then that marketplace will not allow you to show 100 products. In that marketplace, you will be able to show 10 products and you will not be able to show 90 products. Then your problem is created. So before joining that marketplace, know well how much that marketplace will allow you to access and control so that you do not have any problems later.
In this case you need to see which marketplace is suitable for you.
- Maximum and minimum number of listing controls
- does not allow you to sell your product in specific locations.
- Your customer data will never be given to you, that data will be kept by the marketplace itself.
#8 E-commerce marketplace seller payment mechanism
The payment mechanism is not one of all the marketplaces, so you have to keep in mind what the payment mechanism is like in the marketplace in which you are selling the product. Because if you have sold the product but you do not have the payment for the product, then you can not be ready to buy another product, because if you do not have the money to buy another product.
When withholding of the payment is done, many marketplaces make your payment quickly, again many marketplaces do not.
When withholding of the payment
- amazon takes 14-90 days.
- SHOPCLUES takes 30-90 days.
- Flipkart takes 45-120 days.
- ebay takes 45-120 days.
#9 Product return and refund cost calculate
Calculate your cost when your product will be refunded on the return bar. Sometimes what happens is your margins are low returns and your money goes into refunds.
- Fake order
- Defective product delivery, then you will check the return and refund policy.
- Sometimes a good product is returned. Because the customer wants to change or the customer’s choice changes.
If the product is delivered and returned, your cost increases. Because whatever the product delivery or return logistics will charge you then your cost increases.
Then how much does the marketplace charge from you and how much does it carry itself. Then you need to know that the problem is something that the marketplace itself carries and you have to discuss with the marketplace.
If you follow these topics then you can start an e-commerce business well. And you will have a chance of success.
If you want to start or have started an e-commerce business, we hope this post will be helpful for you. And you don’t have to go to any other website to know how to start an e-commerce business.
If you want to know more about e-commerce business or if you need some help about e-commerce business then you can contact us. Our business specialist will try to solve your problem.