If you have always dreamt of owning a store and felt it’s a dream you’ll never realize then take heart from the fact that e-commerce has arrived the world over and “click and mortar” stores are giving brick and mortar ones a run for their money. Here are 4 ways to chalk out the road map to web entrepreneurship…
Offer Products with Inelastic Demand
Smart selling is all about understanding the mechanics of demand and supply so when you choose a product choose one with inelastic demand. Say you want to supply fruits and vegetables online, then start with onions and potatoes or tomatoes, basic vegetables that everyone uses in their homes. That way you’ll have a larger target audience and better chances of success.
Keep it Simple
To begin with keep your product range simple like the one vegetable idea I suggested earlier. If people respond well then you can take it to another level by adding exotic vegetables, spices and curry pastes, etc. Don’t try to do too many things at one go else you’ll end up with too much inventory and very few sales.
When setting up an e-commerce site you should choose to offer solutions, I always find that works better. I recently came across a number of e-commerce sites catering to people in Mumbai looking to satiate their urge for chocolate cravings at midnight or for a quick snack at 2 am. Yes, such ventures are highly localized but they address an unmet need and there are a number of takers for the same.
Ever wondered why virtual assistants are doing well? They offer solutions for your problems. Take a leaf out of that!
Another interesting venture I came across was one that sells Indian pickles online. Pickles are a must at Indian meal and the good part about this e-commerce venture is that it allows customers to decide which pickle they want and how…so you can get a personalized pickle suited to your taste buds.
Focus on Logistics and Customer Support
Any e-commerce venture that makes a mark and has customers coming back for more is one which delivers on time, goods intact and offers excellent customer support. Following up with customers in case of delayed delivery or a complaint shows you are committed to delivering quality as well as have the willingness to improve.
While there are a number of things that help you succeed as a web entrepreneur I truly believe that these 4 tips will help you make your click and mortar store a success for sure!