The eCommerce market is multiplying, and many people have started buying products online post-pandemic. So now, more and more sellers are setting up their stores online and trying to be omnipresent for their customers.
This might sound extremely simple and easy. However, it isn’t! The online marketplaces in India offer businesses multiple opportunities that brick-and-mortar stores can’t.
Building Your Online Store on Marketplaces
The online market is a whole lot more than just selling things. It is about creating a unique experience and space that is tailored just for you and your creations. It is simply to showcase your designs governed by your rules and no one else in Best Marketplaces In India between to take a chunk out of your gains.
Beginning a business and creating an online store are simple endeavours. In addition to building your own online store, you can also sell your products across different sales channels. These include mobile apps, external eCommerce marketplaces, physical tunisia phone number list point-of-sale (POS) systems, and even social media platforms. Starting your online store can be rewarding if done correctly. One of the drawbacks of creating a website is that you may have to use Best Marketplaces In India marketing strategies aggressively to attract customers to your business. Another drawback is that creating your online store may require an upfront investment and a lot of time to create a stable brand.
When you begin your own online store, you will not be obliged to pay a fee for every sale and will not be required to abide by the rules of external parties.
Benefits of Your Own Online Store
The pros of creating your online store include the following:
- Brand control and customisation: One of the biggest benefits of owning an online store is that you get full control over your brand presentation. You can design your online store from scratch, right from picking the brand colours to designing its look and feel. You can also tailor your online store to match your brand’s vision and appeal directly to your target audience. Having an online store also gives you the flexibility to run and manage it from anywhere. You’ll just need an internet connection.
- Market reach and global expansion: An online store helps expand your geographical boundaries. It allows you to reach Best Marketplaces In India customers across the globe. This expanded market reach helps you widen your customer reach and increase sales and profits. What’s the best part? Your online store offers opportunities to explore new market niches without requiring a significant upfront investment. You don’t have to own a retail space or even physical inventory.
- Lower operational costs: Running an online store is comparatively less expensive as compared to operating a physical store. You save money on rent, utilities, staffing, etc. Did you know online stores make more profits as compared to physical stores? Online stores can make as much as 4.5% profits, while physical stores only make 0.5% profit.
- Data-driven decisions: Having your online store gives you direct access to extensive customer data, including their behavioural patterns, purchase history, etc. With access to customer data, you can personalise their shopping experience. You can make 60% of your customers come back for repeat purchases with a personalised shopping experience. Recommending products and sending targeted offers can also help you improve customer satisfaction. Data and insights into your customers’ behaviour can help you optimise your marketing strategies and improve overall business operations.
- Accessibility and convenience: Unlike most physical stores, your online store can remain operational 24/7. This allows your customers to make purchases anytime, at their convenience, significantly increasing sales opportunities.
- Cost-effective marketing and advertising: You can implement a variety of cost-effective marketing strategies to increase brand Best Marketplaces In India awareness. SEO, email marketing, and social media marketing are the most common forms of marketing for eCommerce stores.
Why Are Marketplaces An Ideal Option?
Creating a fancy website with vibrant images isn’t enough to take customers swiftly through the sales funnel. You can easily reach a global customer base, but you need to be perceptible to them. One of the easiest and most effective ways of doing this is by enrolling your business in the top online marketplaces. Listing your products there will undoubtedly give you greater visibility and probability of acquiring prospective customers.
Logistics involves the building of a robust supply chain. Furthermore, there are other obstacles, such as shipping and payments, which these marketplaces take care of. Courier companies (like FedEx, UPS, and more) face the problems of infrastructure and warehousing. Also, payment gateways are accessible, but most Indians prefer ‘Cash on Delivery. This method attracts multiple courier charges, which need to be borne by the sellers.
Hence, these marketplaces are an ideal option. They integrate with 3PL logistics providers such as Shiprocket to reduce the costs of both sellers and buyers.
There are numerous online selling sites and marketplaces in India that sellers can utilise for greater brand awareness and revenue generation. Here are some of the top marketplaces in India:
Best Online Selling Marketplaces/Platforms in India
Let’s take a look at some of the most popular online selling platforms in India.
1. Amazon India
Amazon India is the most preferred marketplace in India. 76% of online shoppers consider it the most trusted online marketplace. Amazon has been a tough competition to eCommerce biggies like Flipkart & Myntra.
It provides shipping options with multiple gateways like Amazon Prime, Amazon Self-Ship, and more. The technological innovations and outstanding customer service have made it a preferable choice.
Amazon offers many features for sellers, including the following:
- Amazon Seller App: It helps manage business activities on a mobile device, such as tracking and fulfilling orders, managing pricing, and responding to customer messages.
- Amazon Seller Central: It is an online dashboard that helps manage and list products on the Amazon marketplace, including adding products, managing inventory, advertising, and opening support cases.
- Fulfillment by Amazon (FBA): It is a service that allows Amazon sellers to store their products in Amazon Fulfillment Centers, Best Marketplaces In India where Amazon handles packing, shipping, and delivery.
- Transparent pricing: Amazon displays its fee structure publicly on all fee-related pages on its website.
- Secure payments: Funds are deposited how to make money on a blog? in your bank account every 7 days, including for Pay on Delivery orders.
Other features of Amazon for sellers include:
- Managing inventory
- Tracking sales and payments in real-time
- Accessing Seller Programmes
- Keeping track of customer feedback
- Analysing your business performance
To create an Amazon Seller Central account, you need to meet the following requirements:
- Have a valid business or individual identity
- Provide accurate contact information
- Provide a valid bank account number.
2. Flipkart
Initially, Flipkart started by selling books online. Now, it sells a wide range of products.
Flipkart provides logistics services called Ekart antarctica business directory to its sellers, along with a fulfillment center. The platform allows its sellers to reach billions of customers instantly. Flipkart’s USPs are quick payments (7 to 15 days) and timely pick-up service.
