Today’s global online community’s most exciting space is E-commerce and India’s growing start-up economy is riding on this space. Indian start-ups saw $3.5 billion investment across over 815 deals between Q1-Q3 2016.
However, it’s a long way ahead for this online industry because of many roadblocks obstructing the overall growth. Online E-commerce infrastructure and practices are at its nascent stage. India’s overall Internet penetration lags far behind when compared to countries like China and Brazil. While the potential is high, the process of achievement is slow.
A report by IMAI shows that India's e-commerce market is growing at an average rate of 70 percent annually and has experienced over 500 percent growth in the last three years. With each passing day, some start-ups are entering the market globally and the fall flat when it comes to survival. Most start-ups fail terribly after only one year of operations. Within these great challenges lie great opportunities for the growing Indian E-commerce space. But to grab the best opportunities and turn them into gold will happen if certain things are strictly avoided.
Lack Of Customer Service
Traditional methods of buying have changed over the years, and so has the way of customer service. Consumer’s today expect quick action to all their queries, and they expect equally fast redressal system. For an e-commerce business, the best software for consumer redressal system/customer service integration is required. Apart from this, you should be prepared for pickups and returns.
Limited Product Details
The only way customers understand what they are buying is by the look and feel of it. In case of e-commerce, though a physical contact to the product is not possible the product images can define the look of it. One must aim to share more than one product image and be as detailed as possible in the product description section. Even a small feature that was missed in the story can change the consumer’s decision.
A typical kind of mistake one makes in the marketing and optimization of your business. A lot of firms focus on advertisements to target and focus on their audience which is good in the beginning but might not survive in the long run. There are a plethora of start-ups in e-commerce to confuse the customers. SEO tool to create visibility for your website. In the long term, SEO is an impactful tool which roots target audience to the site.
No social Presence/Image
The consumer has changed, and so has their methods of consuming data. A large number of audience is now readily available on the new age social platforms. Not just being present but equal amount of interactions with the consumers is important. If the social handle has limited conversations, it might project a negative image in the minds of the consumers. There should be a pre-approved content calendar which is scheduled at regular intervals.
One thing that discourages the consumers the most is poor navigation of the website. The more time it takes to load the site, the quicker user will close the tab. Hard-to-find information, lack of buttons and too many font types, all lead to consumer frustration.
A few months back, a lot of online e-commerce platforms went app only. This change saw a dissatisfaction among the consumers and received a lot of criticism as well. Having the web as well as app based availability is essential.