Let’s start this with a question. What is that one thing which was more efficient a decade ago? Ummmm..no guess? Okay, think harder. Still nothing? Alright, let me break it to you - almost absolutely “NOTHING”. There is nothing which was more efficient a decade ago. As the times are changing, we are constantly evolving into something better. Be it the internet ecosystem or the shopping trends, all have changed drastically. And we can safely say that all the retail merchants are regularly trying to keep up with the ways in which they enable shopping for their customers. Today, the consumers fluidly search, compare between the physical stores and online sites, and finally purchase from where they get the best possible deal. As innovative technology aids their journey, consumers are more inclined towards the digital space than the physical touch points.
Whether you are looking to start your business or expand the existing one, eCommerce selling has many advantages for a long term strategy to win over the customers. Last year, more than 80% of the consumers planned to go for Direct-to-Consumer brands who have created their own digital first approach to have a set of loyal customers. But the question is, where have these D2C brands built their enterprise? The answer to this is, “ONLINE”.
Are you still confused in selling online, check its advantages in detail below.
Advantages of Selling Online:
- Low Investment: Usually in most of the cases, starting the business online costs lower than starting it offline. You can avoid many of the upfront costs that the traditional stores require: physical storefront, huge manpower, payroll, and heavy inventory.
- Quick Setup: Unlike the traditional and physical retail stores, online shops can be set up quickly and just in a few clicks, you can start selling the products directly to the customers.
- Reach New Customers daily: Imagine your store being located at Karol Bagh in Delhi. The footfall would be limited to 5-10 km around your store, hence you are losing out on a major chunk of business which could have been generated from the other set of customers. On the contrary, when you are located online, you will be able to reach the customers all over the Nation.
- Consumers start their search online: More than 80% of the people start their shopping journey from their cell phones. That is, they first search for the desired product online and then compare it in the physical stores. And majority of the time, they end up getting a better deal online. As a merchant, you always want to be where your first customers are shopping and the evidence points towards ONLINE.
- Insights & Scale-ability: While selling online, you can easily determine which products are selling better than the others, hence you can pile up its stock and reduce your dead stock. This saves a lot of overheads which can otherwise be invested to grow the business.
Already made up your mind for selling online? If eCommerce is an area you’ve never explored before, trying to get a hang of it can feel a little overwhelming at first. But then, it is very necessary for you to choose the right tool for your online presence so that it doesn’t turn out to be a bitter experience for you. So here we are to guide you through the various ways to sell online.
Methods of Selling Online:
- Marketplace: eCommerce Marketplace is one of the most apparent and popular ways to resort to for most of the merchants. There are hundreds of companies available for it, popular being Amazon, eBay, Flipkart, Alibaba, etc. Though you do not require any technical knowledge for listing the products on them, yet a big question arises here. Is selling online all about listing the products and waiting for the orders? Is selling online about the marketplaces making money or the sellers making money?
All these questions through our mind and force us to give a second thought on selling online. Let us help you make that call better.
The complex and heavy commission structures which are imposed on the sellers can make them feel helpless. Over and above the commission, the seller has to pay a fixed fee, packaging fee, closing fee, and the list is endless. Driving money out of the seller's pocket doesn’t end here. There are a couple of penalties which are charged upon the seller by the name of SLA Breach and RTO cancellation. Moreover, even the payment settlement cycles are disrupted and sellers are unable to conclude the amount that they have earned through their toil and labour.
Does this mean selling online is a hectic and a riskier process? A BIG NO. Switch to the non marketplace eCommerce where you own a store online just as you own it offline.
2. Non Marketplace eCommerce: There are two ways in which you could try this - one is your image/text based selling and another one is more experiential selling. A little confused? Hang in with me for a while as I explain.
Image/text based selling - this includes setting up an eCommerce website yourself either a standalone one or through eComm website builders like Shopify/Magento and such, to sell your products or through setting up business accounts on social channels like Facebook, Instagram, Whatsapp among others. Both these examples involve discovery of products through images, texts or chats leading up to the purchase. This is a traditional format of eCommerce which has been prevalent since the very beginning of eCommerce globally. It’s not like this isn’t an effective channel of selling, in fact this has been instrumental in bringing the eCommerce mainstream for more than 25 years now. It is 2021 and we feel that image/text based eCommerce misses something so fundamental about shopping - called experience. Given today’s advancement in technology and its adoption, there is a rising need for a more enriching shopping experience that combines the trust + experience of offline and convenience + speed of online.
Experiential selling - this involves selling through an upgraded version of image+texts and that are pre-recorded videos and live-videos. This primarily happens through facebook, instagram, whatsapp video calls, zoom video calls etc. A retailer either uses these platforms to share pre-recorded videos or hosts live videos. It provides customers with rich and real time data points about the product, its quality and seller, which is possible to get only via offline shopping. This solves the “content & product discovery” part. However, the place where today’s experiential shopping fails is the “convenience of shopping” part which is due to absence of in-video catalogues, in-video checkout, live chats, and integrations with additional tools like shipping, and promotions. The demand for enriching shopping experiences has been increasing globally with more and more customers having access to affordable smartphones, data and content.
A complete experiential shopping experience requires ability to record videos(live or pre-recorded ones), manage in-video catalogues, in-video checkout, live chats, promotions and shipping, all from a single technology tool and in one place. At Baaz, we do just that. We enable live video commerce for the global non-marketplace eCommerce industry.
Using Baaz, you can do all the above through a single mobile app. To do that, it literally takes 5 mins to set up your live video shopping store. Not only that, you can integrate video shopping into your existing eCommerce website too.