There was a time when e-commerce had just opened its avenue in India. The Indian retail market was left bewildered. It was a clear encroachment upon their livelihood. What Indian retailers did not realize was the fact that the e-commerce was only going to add a bigger horizon to their business aspects. With time, however, the retail industry realized the immense opportunity that e-commerce opened up for them. Today, retailers thrive with the boom of e-commerce.
Here’s how e-commerce has proved to be beneficial for retailers –
- Global Reach : With the help of online selling sites, many small-time businessmen and retailers have grown their reach manifold. Before the e-commerce wave, their customer base was limited only to their area.Internet has given a platform to sell their products to a large number of customers whatever may be their location.
- Reduced transaction cost :The cost per transaction is considerably reduced through e-commerce as the entire purchasing cycle is handled online. From getting the order to receiving the payment, every important step is taken care of through the web and requires less manpower which leads to lesser costs.
- Reduced overhead cost: Upkeep of a brick and mortar store is a highly expensive affair. In order to expand it, one would need to spend more on the employees responsible for the maintenance. E-commerce, on the other hand, enables expansion without added manpower cost.
- 24/7 Business Hours: The “everything-on-a-click” approach has been beneficial not just to the consumers but also to the retailers. With the Internet, the products and services are always open for display to potential buyers everywhere. The customer can order the product online anytime from the comfort of their homes.
The rise of e-commerce has definitely ushered in a number of competitors. However, at the same time, the benefits it has provided has enabled an enhanced selling experience to the retailers. Indian retailers have finally realized the mentioned benefits and are utilizing the full potential of e-commerce. Over the year, the number of sellers on e-commerce website has increased exponentially. Indian retailers have come of age. Now, they know that their power lies in a click and they are clicking their way to brighter future.