Ecommerce, often known as electronic commerce, is the exchange of goods and services for money or data over an electronic network. Ecommerce businesses and e-commerce are most commonly used over the internet. The process that is made during the transactions is also called e-tail. Let’s dig into more details about ecommerce business in this blog.
What is an ecommerce business?
An ecommerce business is selling your products online. And for that, you need a platform to sell your products. You can be a seller on an ecommerce platform like Amazon, Flipkart, Meesho and much more. Or you can sell your products by creating a website, listing your products on the dashboard and selling them.
Ecommerce business Ideas
So, are you planning for a side hustle or focusing on your career in the ecommerce business? Then consider these ideas for your business.
One idea could be starting an online store that specializes in a specific niche, such as organic products or sustainable fashion. This can help you stand out in a crowded market and attract a dedicated customer base.
Another idea could be to create a subscription box service for a particular industry, such as a monthly box of beauty products or healthy snacks. This can provide a consistent revenue stream and keep customers engaged and coming back for more.
You could also consider dropshipping, which is a form of ecommerce where you don’t keep the products you sell in stock. Instead, you partner with a supplier who ships the products directly to your customers. This can be a low-cost way to get started with ecommerce, but it can be harder to control the quality of the products.
Lastly, starting a business in ecommerce is not limited to physical products, you can also sell digital products like e-books, music, videos, or software. This can be a great option for creators looking to monetize their work.
All the above business ideas are some possible ways you can get started with this business, but the most important thing is to find something you’re passionate about and that you can see a market for.
How to start an Ecommerce business in India?
To begin with, you need to first confirm your selling platform. As said earlier, there are two ways, they are
1. Having a website of your own and promoting it on all social media handles.
2. You can sell your products on all already well-established platforms like third-party resources like Amazon, Flipkart and much more.
How much investment is needed?
No one can tell you for sure how much investment you need for starting an ecommerce business. Because it actually depends upon the type of business you choose according to the category.
Primary investment
Primary investments are those in which you need to invest compulsorily irrespective of the category in which you choose to do business. Get to know the primary things that need investment.
1. Documentation
Apply for GST (excluded for books). Getting a GST is the first thing you need to do if you are looking to start a business.
2. Bank Account
A savings account is needed. You can open a current account after a certain period of transactions.
3. Electronics gadgets
A mobile phone and laptop will be very much useful. For optimising the images, running campaigns and other uses are there.
A printer will also be needed for printing the bills on the packaging.
Camera – a mobile phone with a quality camera is essential.
4. Packaging
You will be packing material to pack your products to send to your customers. And for that, you can get the necessary things from the stores and also be creative with that.
5. Internet
A proper internet connection is essential to do business. You can use your mobile network, but if you need a stable connection you can opt for a WIFI connection.
Secondary investment
The secondary investment differs from the category of the business you choose and also according to you. It differs in three ways and let us look at that below.
1. New seller
If you are a new seller, you need investment for everything. Like primary investment and secondary investment like getting the products and maintaining them
2. Traditional businessman
A traditional businessman is you don’t need any investment as you have the products in your hand. Other than this, you need to check the things with primary investment materials and get the material that isn’t with you.
3. Manufacturer
If you are a manufacturer then even you don’t need any investments as you make the products yourself. So, check with the primary things and buy the things that aren’t there, to begin with, your business.
Advantages of ecommerce business
- No shop which means no rent and no electric bill.
- No need to get amenities
- No need to Hire employees and pay them
- 24*7 you can open the online store every time.
- You can reach customers all over India and not specified to a specific area.
- More customer base, as more are using mobile phones.
- It is suitable for all like students, women, or even to working employees.
- You can succeed being an entrepreneur or can gain experience and look for ecommerce job opportunities.
Disadvantages of ecommerce business
- Return of orders due to product quality, or the logistics team failing to reach the customers.
- Pay for the products reaches you a bit late around 10 -15 days.
- The third-party commission is high if you sell your products on their platforms. This happens even if you have your own website for generating Google ad sense and shipping charges.
- Competition in this field is high.
- Documentation is also a tedious
- Copyright claims
Wrap up
Considering the advantages on the brighter side, ecommerce businesses have set their own path. With the pandemic, monsoon seasons, and whatever may come and go, the sellers of ecommerce and business persons are more reliable in their business online than offline. So, it’s high time that you start your business considering all these things.
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FAQ
Will Ecommerce business be profitable?
Yes, it will be successful for both the business person and the customer as well.
What is the most bought product in the Ecommerce business?
Computer and consumer products are the most bought products in the ecommerce platform.
What is the most profitable ecommerce business to start from home?
Sell handmade jewellery, cakes, paints, clothing store, toys stores, pre-used items and much more.
