The Indian e-commerce industry has witnessed exponential growth, steered by the remarkable popularity of online marketplaces. Sellers are keen on collaborating with India’s best online selling platforms to reach a wider audience. The e-commerce market in India is undoubtedly huge, with a projected valuation of 99 billion USD by 2024.
But Indian sellers are vying for additional profitability by targeting international markets. Online selling platforms empower local manufacturers, local SMEs, upcoming sellers, and e-commerce start-ups to sell their products/services worldwide conveniently.
Paving the Path to Success as an Online Seller
India’s online marketplace and e-commerce ecosystem benefits entrepreneurs who work hard, innovate and create an indelible connection with their target audience.
Here are ten helpful tips for successfully selling your products as an online seller in India:
Conduct systematic research of prospective online marketplaces
Most online selling platforms from India have a specific range of product categories and cater to certain market segments. Compare fees, shipping, platform features, policies, and market reach before choosing an online marketplace to list yourself.
Study your target audience holistically to define your ICP
The more precise you are about your ICP (Ideal Customer Profile) as a seller, the easier it will be to target the right customers. Be it using the right keywords for organic SEO or investing in paid ads to target a specific demographic and region, always have a well-defined ICP to target.
Deploy SEO experts to optimise your product listings
If we consider the realm of e-commerce from India, even a small sub-category has hundreds of listed sellers and thousands of listed products. To be organically visible to interested search users, your product title, description, images, and storefront layout should be in sync with the latest SEO parameter.
Develop and implement top-notch Customer Service SOPs
A positive aspect of being listed on any reputed online marketplace from India is that they already have a well-trained and efficient customer service team. Your responsibility as a reliable seller is to provide equally good support if the customer directly contacts you.
Balance profitability and competitiveness with tactical pricing
Online product pricing warrants keen business acumen. Sellers must understand the tightrope between profitability, competitiveness, and customer expectations.
Avoid charging shipping fees whilst ensuring sound logistics
Indian consumers are highly opposed to being charged exorbitant shipping fees. You might end up losing a large chunk of business to your competitor, who is providing free shipping. Thus, always collaborate with a trustworthy logistics partner.
Offer enticing promotions and discounts
Offering discounts and promotions are excellent tactics to attract customers to your storefront. However, this has to be led by research, attentiveness, and discretion.
Use e-commerce platform/marketplace advertising features
As a seller, never restrict yourself to being listed on an online marketplace from India. Choose a site that provides the latest digital marketing plugins and use them to your advantage.
Consistently track your competitors
No matter which product/service segment you choose as an online seller, facing intense competition is inevitable. The best way to cope is always to be aware of the performance and strategies of your key competitors.
Monitor existing strategies and make necessary changes as per data-driven insights
Data analytics can unlock a wealth of opportunities for your online selling business. Run your sales data, customer feedback data, and marketplace trends through the latest algorithms for valuable insights.
The Indian e-commerce industry is among the fastest-growing sectors worldwide. Indian online selling platforms are revolutionising the way sellers and buyers operate. Furthermore, with initiatives like ‘Make in India’, the demand for high-quality Indian products has escalated in several key foreign markets.
Overall, this scenario is immensely promising for Indian sellers to augment brand recognition, customer loyalty, and phenomenal sales. The above tips are worth implementing to ensure profitability and competitiveness in these dynamic online marketplaces.