Electronic commerce is a relatively new sector that is creating a widespread impact. It has been successful in grabbing eye balls. Many start-up ventures have successfully toyed with the idea of adopting the electronic commerce model.
It is essential that you play the game by the book in the initial stages to establish a strong presence. At times, taking a risk may work in your favour and sometimes it may backfire. Before making a move, it is essential to understand the market condition in India. Experts have stated that electronic commerce is set to grow at a phenomenal rate. According to statistics, the field has crossed the 2500 crore mark in 2012. This is a commendable accomplishment.
Electronic commerce is all about innovation. Most of these online shopping brands have been successful in providing a common platform to retailers and customers. Some of them follow a different structure. A vendor lists his product on such a brand’s portal. When a customer orders that particular product, a request is sent to the vendor. He sends the product to the brand. The offering goes through various rounds of quality checks, before it is shipped to the customers. With the implementation of such a fool proof system, stories like PepperFry fraud dealing with the poor quality of merchandise seem to be lacking the foundation of truth and logic.
This system may seem to be simple, but a great deal of planning is required to ensure the success of this model. Keen attention is paid to ensure that the customer does not face any kind of a problem. Products that belong to the fast moving category are shipped within 3 to 4 working days whereas merchandise from furniture and jewellery can take a considerable period of time. This condition is also subject to the availability of the product with the vendor. After reading about the various models that have been adopted by electronic commerce brands, I think rumours like PepperFry fraud are completely baseless.
Electronic commerce is evolving at a rapid rate. This is also because of the growing importance of Internet and the accessibility that it provides. Entrepreneurs should understand when to follow the rules and when to use an innovative approach. At present, nearly 400 players are engaging a customer through their exclusive products and commodities. Some of them use unique ideas to ensure that a customer remains loyal to their brand. They have introduced loyalty programs, which have worked in their favour.
Electronic commerce players have transformed conventional models to increase the opportunities for profitability. They have also used the potential of social media to its fullest. Proximity with their fans has helped them understand their opinions and provide a service, which is as per their expectations. Expansion into unique categories has worked in the favour of all these brands. They have been successful in providing a unique shopping experience to their loyalists and supporters. Electronic commerce brands have also given the much needed exposure to craftsmen from all across India.
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