Tag Archives: ecommerce

E-Commerce : The Next Sought After Business Venture

In modern times, online shopping has been a big revelation for consumers. E-commerce has changed buying trends across the world, made shopping easier, and has made global trade even easier. This convenience has evolved manifold in the last decade. It started out with buying apparel and big industrial purchases and has now grown to a point where you can order even groceries and fresh produce online.

In the post-COVID-19 era, E-commerce has seen an even bigger boom; a growth of about 129%. Forcing buyers to shop online because of the impending threat of infection due to social interaction has made it more fruitful for online businesses.

Boomers have been made to shop online for this period. People from the older days who have been habitual of buying products that they can see, touch, and feel for themselves have had to try out online shopping. Most of them have let go of their rigid beliefs and realize how E-commerce is the way to go!

This shift in trend has created a wider base of recurring customers, which grow larger every day. There are many moving pieces in setting up a successful online business. You cannot just have half a model ready, upload a few products, and expect the money to start flowing in. So let’s take a look at 2 ways with which you can start, build, and thrive with your E-commerce business!

1. Put the “Custom” in Customer!

One big shift in buying patterns is customization. Online businesses have so many advantages when it comes to how they show off their products. Modern online marketing methods have made it possible to connect sellers and buyers more efficiently than ever.

Targeted ads to the specific demographic based on previous purchasing history, personal data, search patterns, and other tedious data like that have made a personalized buying experience of the highest quality possible.

This is better than relying on a salesperson to do your product’s bidding and trying to “feel” out a customer and figure out what they want to buy. The data that you can possibly collect on your customer base, allows you to market your products in a more relevant way, based on an individual’s taste, preference, and style.

Many online apparels and accessory stores have the option of delivering custom-designed goods of all types. This has been a great way for people to change how they express themselves and their personality, making it another great way to be in business. The sentimental response that comes from such a personalized buying experience increases your ROI for marketing and in turn, gives you a loyal customer!

2. Social Media Influencers, Endorsements, and Social Media

Celebrity endorsements can give your products more credibility. This makes for a vital campaigning experience that can really boost your sales. Celebrities don’t have to be expensive even! Nowadays, we have social media influencers that thrive on endorsing products and boosting the presence. Influencer Marketing is the way to go for the future!

Social media platforms these days are full of individuals who have the talent to appeal to a large number of people with their engaging online content. Such influencers have an immediate impact on buying patterns of their audience. This segues perfectly into the next point; Social Media Marketing!

Facebook Ads is a targeting tool that gives you the power to find and appeal to the perfect customer, which would never have been possible for a regular brick-and-mortar store.

Using the power of Facebook Ads to place adverts in people’s social media feed while they’re just casually browsing the internet, sometimes makes them think about buying the product and take that first step.

This is different compared to, say, Google Ads. These search engine-specific Ad campaigns target customers who are already actively looking to buy something specific.

E-commerce businesses have the most to gain from the powers of Social Media Marketing and Advertising. They can take users directly to a check-out page where they are in a strong position to be converted. Even if they change their mind, you as the seller will have the data of people who almost bought from you, so that you can target better to this already warm audience.

In conclusion, if you’re thinking about starting a business that sells products that can be shipped to customers anywhere, you are probably better off with an E-commerce setup. It is cost-effective, has a wider reach, and has more branding and marketing options to spread the word! You can even make it work for an already active physical store. It would just expand your reach and give wheels to your business’ growth!

For further information on E-commerce Marketing, you may contact us or visit our website www.bmconsulting.in

**********This blog is compiled by Divyanshu Gupta*********

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Effects Of The Ongoing Pandemic On Online Shopping

Impact of Covid on E Commerce

We’re witnessing history being made with the COVID-19 virus running rampant in society. This is an event that children will read about 10 years from now in their History textbooks (or whatever digital medium is the most used by then?).

This global pandemic is of a scale that has brought the whole world to its knees. Its impact has been more than significant, to say the least. The whole world has morphed and changed because of it. Social distancing protocols have made doing business very challenging, no matter what kind.

The worst part of this virus and the disease is that it is silent and goes unnoticed for the most part. You never know where you’ll catch it and when.

So many businesses have suffered because of the pandemic. Restaurants, bars, movie theaters, gyms, and hotels have all dwindled in their turnovers, and the major cities have suffered the most.

The worst part is that there seems to be no defined end that can be projected to this turmoil. That is why everyone has started focusing on alternatives, shutting down their businesses and moving on, or adapting by dealing with losses and trying to keep their head above water. Office workers now have to work remotely full-time. These changes and more have changed the common people’s perspective on daily life too.

The New Normal

Now people hesitate in going out to buy products and daily needs requirements. Shopping malls, grocery stores, and shops are now being completely replaced by online shopping.

Not a long time ago when e-commerce was still a fresh prospect, people used it to buy novelty items. Then came around the wave of online shopping where you could buy practically anything you want online, with lucrative deals on offer. If a piece of clothing doesn’t fit you, you can just have it returned and replaced with something else that does.

Online Shipping Home Delivery
Eventually, the online market place turned into a fully-fledged shop where you could buy anything that your daily requirements dictate. From groceries to fresh vegetables, meat, and dairy products. Everything can be bought online now. And with the new social distancing protocols in place, it’s best to not be surrounded by other people, and restrict your human interaction down to the one delivery executive that brings you your stuff.

The Growing Boom of E-Commerce

From a strictly business perspective, the Indian e-commerce market is projected to grow over its USA counterpart to turn into the second largest online bazaar in the world by 2034. The projection predicts that the market will grow from $30 billion to $200 billion in about 9 years. The top-dogs of the e-commerce game, China are still a little farfetched goal to touch. Sitting on the throne of e-commerce at a value of $672 billion, China is leaps and bounds ahead of their competition.

Panic Buying and Coping with the Virus

When the initial news of the COVID-19 virus started spreading, people everywhere were in a state of panic. With very little information and the threat of death hanging over people’s heads, people started to stock up like it was doomsday.

Even shipping services were suspended in the first wave of total lockdown. That is why, when e-commerce was one of the first services to resume, people started to abuse their wallets and buy as much as they could, because at any time it could’ve been announced that the services are being locked down again.

Panic Buying

It can also be called retail therapy, where people were just calming themselves down by generating dopamine from buying new things. All these factors and more have helped e-commerce in being the next great business to get into. Everyone likes the convenience that buying things online brings.

How Safe is It to Order Online?

According to the studies conducted, the virus can stay alive on solid surfaces from anywhere between 3 hours to 3 days. The studies are still not very conclusive because of the limited time we’ve had with the virus. But regardless, from the time that it takes to package and ship your product (which is now extended because of slow shipping), practically all threat of you catching a virus through your package is minimized.

You should still use an aerosol sanitization spray to neutralize the packages you receive and wait for a few hours before you bring them in and touch them.

Conclusion

No matter how optimistic we get, some things have definitely changed for good. This pandemic may not last forever, but the changes it brings are going to stick around. Some people are now used to the serenity of isolation, and dealing with fewer people, and being in fewer social scenarios.

They are now spoiled for the option of ordering things online and getting things delivered to them at the comfort of their home. These changes make it a good time to get into the e-commerce business. It is the right time for prospective businesses that can sell products online.

For further information on  E-commerce Marketing, you may contact us or visit our website www.bmconsulting.in

**This blog is compiled by Divyanshu Gupta

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Covid19 Impact On E-commerce Industry

Covid19 Impact On E-commerce Industry

The entire world is affected by the Covid19 pandemic since February 2020. Large as well as small scale industries have been shut down owing to the lockdown imposed by countries that have led to a huge drop in the global economy. The United Nations estimated that this pandemic can cost the global economy close to 2 trillion dollars.

This global outbreak has adversely affected business models and supply chain networks across the globe. Even the e-commerce sector has seen some unexpected buying patterns from the customers. The fear of this global pandemic has led to panic buying and people are hoarding essential goods with the intention of stocking up in order to sustain during this crisis.

Covid19 Impact On E-commerce Industry 1

Organizations have allowed their employees to work from home, which has led to a boost in in-home consumption. There is a high demand for personal hygiene products like hand sanitizers, floor cleaners, wet wipes, toilet papers, etc. Since the government has imposed a lockdown on malls and multiplexes to prevent social gatherings, people are buying groceries and other essentials online.

Due to this sudden spike in demand, online stores are finding it difficult to fulfill orders. The need for certain products has also led to an exponential increase in their prices. The closure of factories in many countries has hampered the supply chain, thereby creating an added pressure on the retailers. However, many retailers have slowly started to improvise their strategies in order to meet the growing demand for essential goods amidst this pandemic.

Covid19 has created a paradigm shift in consumer behavior. People have understood that this virus is going to be there even in the second half of 2020 and they have to learn to live with this reality. They have accepted a simple lifestyle and are sticking to the basics in order to sustain in the long run. People who used to stand in long queues at grocery stores before this crisis have understood the importance and benefits of online shopping and are likely to stick to it even in the future.

Covid19 Impact On E-commerce Industry 2

Prior to this pandemic, traditional retailers were focusing more on driving traffic to their physical stores rather than to the online ones. However, due to the increased dependency on online shopping, retailers would now need to concentrate more on developing their online presence in order to meet the growing demand. Personalized engagement will play an important role, especially with respect to essential commodities like personal care items and groceries as consumers seek increased communication and trust about the quality of these products.

Covid19 Impact On E-commerce Industry 3

When it comes to online shopping, people still fear of contracting the virus through the packages delivered to them. However, there is a very low possibility of such a contraction. According to the Centre For Disease Control (CDC), there is a rare possibility of the virus spreading from products or packages that have been in shipment for at least several days and did not come into contact with any sources of contamination after packaging.

The World Health Organization states on their website that the likelihood of an infected person contaminating commercial goods is low and the risk of catching the virus that causes COVID-19 from a package that has been moved, traveled, and exposed to different conditions and temperature is also low. If retailers are willing to take added caution like sanitizing the packages before delivery, ensuring that their deliverymen wear gloves and masks all the time and monitoring the smallest changes in their health, then it will be easy for people to trust this delivery system.

Though this pandemic has wreaked havoc across the globe, it has created an opportunity for e-commerce platforms to improvise their business strategies and mould themselves according to the current scenarios. In the end, the success of your business depends on how you adapt to the changing world around you and do the best with what you have.

For further information on  E-commerce Marketing, you may contact us or visit our website www.bmconsulting.in

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Strategies That Improve Your e-commerce Brand

When you are selling online it’s quite important to create a strong brand. Innovation does not come easy-Think analytical and strive to follow your vision to create a brand that is indispensable, a brand that will stand out among thousands of products and services; a brand that differentiates itself from your competitors.

Apply certain ingredients and attitudes; brand strengthening can be done through social media comments, customer reviews, videos and content syndication. Make your startup journey worthwhile, as entrepreneurs in e-commerce industry are driven to continuously create, innovate and sell. With the technological advancements more and more consumers are building trust in the online foray of business.

Img Source: onlineincometeacher.com

Img Source: onlineincometeacher(.)com

Follow Social media comments

Business today is online and social media platforms today are just no means for socializing alone. It is a mean to “Do Business”. Social media platforms are a great platform to connect with the customers, this platform allows you the opportunity to engage and discuss with customers, and Social media platform is best known to enchant businesses as it allows you to do free advertising of your business in the online foray. Be proactive and consistently post more than just one-line sentences about your products or services. Elaborate- Use social networking platforms to tell stories, ask questions, share latest updated news related to your products and initiate discussions about your products. Remember- When you get comments, good or bad, respond to them. Thank customers for positive comments and try to be determined to resolve the customer’s query for negative comments. Once you have taken this step to resolve issues concerning products or services, those customers will get converted into loyal customers and will be more than willing to always buy from you.

Customer reviews matter to create your brand identity

When a customer is unhappy, there is going to be a negative review concerning your product – if not at your website then somewhere else. A bad word spreads like fire and is spiced further on and on. One unhappy customer gives birth to thousand more. To avoid this downfall, it is advisable for you to actively ask for their reviews and feedback. Positive comments attract new customers; and negative comments distract customers. Asking your customers   to review your services or products will help you to actively work with the customers to change their opinion. This will allow you to rate self   and understand the necessary changes that can be implemented for your business to grow. However, do remember not to spam your customers’ email box with repeated requests. One email asking them to post what they thought of your product is a good idea. Moreover when you respond to reviews, you are moving a step forward to build a positive image for your brand.

Add Videos of your product demo

Videos are great source to engage potential customer as they have the ability to go viral, presenting your brand to millions of people. Apart from showcasing your products, you can use videos to tell your story, alter preferences, all of which are critical to turning potential customers into customers and occasional customers into loyal ones to engage people in your brand and draw them to your store. Online video has become a powerful marketing tool for businesses of all sizes and across industries. Make the most of the availability online and make your brand lively.

Syndicate your content

In simpler terms, content syndication means to make available the content – including text, video and audio – that’s created by you at other sites for use. This process allows your customers to get access the information about your products that you want them to have, instead of information shaped by the secondary company. Syndication is the most analytical way to offer precise and reliable information to your customers.

When planning to make your brand function on the ecommerce platform make sure that all the functionality mentioned above should be implemented and customized in your e-commerce website properly as a part of your branding and marketing.

With the growth in the online economy your e-commerce business as a whole will continue to grow leaps and bounds and is on the right tract to soar high. Offline commerce will soon serve two purposes – to buy stuff that’s needed with immediate effect or just for personal showroom experiences for fun. Shopping online is the latest trend today. Go for it!!

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