Why you should sell online in India?
India’s eCommerce is booming. According to a Google India report, India had 35 million online shoppers in the first quarter of 2014.
Projected to reach 100 million by the end of 2016. This rise is further driven by the wireless Internet and the rapid growth of mobile phones.
Companies like khojinINDIA have already crossed billion-dollar valuation. If you have a product to sell, this is perhaps the best time to start selling it online. Here is an ultimate guide to teaching you how to sell online in India.
Before You Start Selling Online in India
1) Calculate the costs involved in ultimate guide selling online in India
For that matter, selling online in India or in any country involves various costs. After considering all those costs, it’s important to first check out how much you can make good profits. Let’s take a look at some of the big costs:
Shipping Cost-Visit your nearest shipping company or courier to find out how much it will cost to ship your item to different states of India.
Create a list of states and the fees for delivery. Depending on the size and weight of the product, this expense typically hovers between 5% to 15% of the cost of the product.
Packaging Cost– You may need to consider the packaging cost depending on the type of product you are going to deliver. Check the various packaging materials and determine how much you need for one piece.
Calculate the net cost per component accordingly. It’s normally between 0.5 percent and 2 percent of the cost of the commodity.
Payment Gateway Cost: You will need a payment gateway whether you are planning to set up your own store. Generally, these sites charge from 1.5% and 5% of the overall transaction.
A one-time setup fee and regular annual maintenance fees could be charged. The last time I checked, these fees were waived by most payment gateway providers. When you have greater volume, you will negotiate the transaction price.
Storage Cost-You could really need to rent a warehouse or other storage room for your goods, depending on the product. Find out the expense as well. Some online markets, such as khojinINDIA, allow you to use their shops for a small fee.
Marketing Expense- You will have to convince the world that you have arrived, like every other business. There are certainly free ways to promote your company, but you do not have to invest in paid marketing channels during this point.
khojinINDIA is a good forum for starting with online ads and provides cost measurement tools as well. also, khojinINDIA provides free listing worldwide.
2) Find out if its viable to sell online in India
You can do simple research to figure out the productivity of your business, now that you have a better understanding of the various costs involved in selling online. A basic formula is here:
Profit Margin= Selling price – (Sourcing Cost + Packing & Shipping + Transaction Fees + Marketing Cost + Variable Costs)
If your profit margin is positive, you should go ahead and start selling online. You should think about minimizing the cost if it is very close to zero.
3) Create digital catalogue of your products
It is time to take the next step, assuming you have passed the profit margin review. You will need to build a spreadsheet list of the items.
You will later be able to import the list to markets for eCommerce or self-hosted shopping carts. Product code (or SKU), product name, definition, category, selling price, discount (if any), brand, color, and other relevant characteristics should be included in this list.
Once this is finished, take from various angles, ideally in white background, 3-4 good quality photographs of the product. In online sales, product photos play a key role, so it is recommended to take advantage of a professional. In certain cases, you can even get these pictures from the maker.
4) Setup End to End Process sell online in India
From day one, it’s best to get organized. Do you know-how, without any goof-up, event production businesses plan major events? Ok before they start to work on it, they play the entire event in their heads. You can do the same and create a process that outlines steps from obtaining an order to shipping the items.
For doing performance testing, packaging, invoicing, etc., it may be a quick checklist. This will also surely help your workers while you are not around.
5) Use A Good Inventory Management Software
It might become painful to control inward and external stock movement manually when you deal with inventory every day. To monitor your inventory, start using good inventory management software.
khojinINDIA provides a software option free and easy understanding khojinINDIA software also gives your shopping cart or marketplace account an inventory sync option. with Google Products Inventory online.
6) Be discoverable online
Before they make any purchase, your clients are more likely to search for your company at khojinINDIA
They could drop off if they can’t find product reviews or any other details about your product. So in the form of your Business, social media account, or any other medium, it is necessary to have an online presence.
Here is an in-depth guide to building online presence for your business.