Benefits of selling products online.
Selling online has many benefits ranging from flexibility to customer reach. Compared to a physical store, you have many advantages of starting an eCommerce business.
Selling products online in India has immense potential because more consumers prefer online shopping. And this rise in eCommerce will grow exponentially in the coming years, according to recent reports.
The market value of the eCommerce industry in India is estimated to reach 200 billion dollars by 2027.
Some benefits of selling products online include:
To know more about the advantages and disadvantages of eCommerce , read this detailed guide.
How to sell products online in India?
These are the steps you need to take to start selling products online easily:
Choosing products to sell online
The first step to starting a viable eCommerce business is to choose what product to sell online. Here are a few pointers to help you get started. We will help you with:
What type of products can you sell online?
You can sell mainly three kinds of products online: physical, digital, and service-based.
1. Physical products include any material commodity — clothing, cosmetics, furniture, home decor, etc. To know more about each of these categories, check out our blog posts on selling different products online .
2. Digital products include resources that can be sold or bought on the internet. These can be a profitable category of products to sell online. They include non-tangible items such as ebooks, courses, and templates. Read our detailed blog on how to sell digital products online to know more about this.
3. As for service-based businesses, online platforms are a good way to find leads and customers. You can sell a service-based business on your own online store or build a landing page for the same. Here’s a resource to guide you on starting a service-based eCommerce business .
Related read: Part-time business ideas
Finalising a product to sell
Choosing products for your business is a challenging aspect, especially if you don’t know where to start. If you’re confused about how to choose a product to sell online, consider these factors:
We’ll discuss more about doing market research to find the best product for your business.
To give you some ideas, here’s a list of products with a high-profit margin to sell online .
Source your product
Your next step is to obtain products. You have many options when it comes to sourcing products for your online store.
To get products in bulk, you can go for a wholesaler such as Alibaba and IndiaMart. You could also search on marketplaces such as Etsy and ExportersIndia.
Another option is to manufacture or make your own line of products.
Although the upfront costs will be higher, you will be able to produce unique products that are under your label. Also, if you want to create products on a small scale, here’s a guide to help you sell your handmade products online .
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Planning your business
Turn your business idea into reality by planning it out with market research and a proper business plan.
1. Do market research
To figure out if your product idea has enough potential to thrive online, you gotta do some market research before diving into business.
That means studying the market and your ideal customer. Plus, you need to analyze if your product will fit well in the market. This can be done by using demand forecasting.
It’ll also come in handy for marketing your product and save you from loads of trial and error when it comes to selling.
Conducting market research before selling will help you find out if the market is oversaturated for your product and whether or not it has potential to scale your business.
Here’s what you need to do basic market research:
2. Create a business plan
Now that you have decided on what products to sell online and done your market research, put all that information down as a business plan.
Here’s what a business plan for an eCommerce store should include:
Decide where to sell products online
You have three main options to sell products online:
1. Your own eCommerce website
One option to sell online is on your own eCommerce website .
Here, you can upload products, collect payments, manage orders, and shipping. In short, like a physical store, you will have a digital storefront where you can handle all business functions.
As a physical store will have staff for different functions, your online store will have eCommerce tools and features for tasks such as customer service, marketing, invoicing, and shipping.
Selling products on your own website has so many perks:?
It’s clear that online shoppers trust and prefer businesses with their own websites for easy shopping. So, having an online store is a must to sell products online.
Here’s how you can set up an online store on Instamojo for free:
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