Overcome the fear of e-commerce Problem Solved in the article

  •  Overcome the fear of e-commerce

Section 2: Summary of the article

  • When the purchase and sale of a product are done through the internet, it is known as “e-commerce”.
  • According to many reports, by 2022 internet penetration will reach a level where 60 % of Indians will be connected through the internet.
  • There are 4 types of e-commerce businesses namely B2B, B2C, C2B, and C2C.
  • There are many types of e-commerce websites such as megamall, market place, the vertical marketplace, auction site.

Section 3: Main Content of the article

The purpose of this video is to provide you such clarity that your fear of e-commerce is removed forever. 

Golden statement:

जिस काम को करने में डर लगता है उस काम को करके दिखाना ही साहस कहलाता है

Key Note#1: What is E-commerce?

When the purchase and sale of a product are done through the internet, it is known as “e-commerce”.

  • It is said that the first e-commerce transaction was made on 11 August 1994.
  • A person sold a C.D to his friend on a website called “net market” in the U.S.A.
  • There has been a lot of advancement from 1994 until now.
  • A CD was sold that day but today, the whole world is running with the help of c-commerce.
  • By the end of 2020, global e-commerce retail will amount to approximately 27 trillion dollars.
  • Digital adoption is growing very faster in India.
  • Many people are using the Paytm app.
  • Many people are using the Bada Business app to consume content.
  •  All this is e-commerce.
  • We will become a digital-driven trillion-dollar economy by 2025.
  • According to many reports, by 2022 internet penetration will reach a level where 60 % of Indians will be connected through the internet. 
  • By 2027, the middle class of India will overtake the U.S and China.
  • Today, the middle class is the largest consumer class.
  • These are the people who buy products and want to improve their lifestyle.
  • For them, it is very important to get connected to the internet.
  • They are the consumers who are buying and selling products on portals such as Amazon.
  • In the next 3-5 years, India is going to be the largest consumer market of e-commerce.

Now, the questions are:

  • Are you ready to serve these consumers?
  • Are you ready so that your business reaches these consumers?

Key Note#2: What are the types of an E-commerce business?

You can adopt any of the following types for your e-commerce business::

1. B2B (Business to Business):

  • You are running a small business and selling goods to a large business.
  • For example, IndiaMart is a platform that transacts with the B2B platform.

2. B2C (Business to customer):

  • In B2C, businesses sell goods to consumers.
  • You can directly buy the product on  Amazon.
  • So, you are a business that is selling the product to the customers through an internet-enabled platform.

3. C2C (Customer to customer):

They are dropshipping platforms or social selling.

4. C2B (Customer to business):

Consumer sells goods/services to the business.

For example:

  • You are a freelancer.
  • You can provide services to businesses.
  • A startup wants you to design their business cards and brochure.

Many freelance platforms are available on the internet today. You can make your profile and sell your services on these platforms.

Key Note#3: What are the types of e-commerce websites?

As e-commerce is internet-enabled, the transaction will take place through a website or an app.

The following are 9 types of e-commerce websites:

1. Megamall:

  • In the mega mall, large malls are converted into online apps.
  • Today, all your departmental stores are available online.
  • You will find all things on a website or an app.
  • A large departmental store is available such as Future Bazaar. 

2. Marketplace:

  • There is buying and selling a large number of people.
  • On  Amazon, one person sells while some other person buys the product.
  •  Amazon makes a commission in between.

3. Deal maker websites:

  • Deal sites are beneficial for both customers and businesses.
  • Both of them can find deals on the internet.
  • When a customer gets discounts, chances are high that he buys the product.
  • This is a win-win for everyone.
  •  Customers get discount and businesses finds non-consumers that are converted into customers.
  • Therefore, deal maker websites convert non-customers into customers.

4. Vertical marketplace:

You will find only one type of product.

For example:

  •  Lenskart.com sells only specks and frames.
  • They have to build a large platform only for one type of product.

5. Auction site:

There is bidding on the auction site.

For example:

  • The government of India has its auction site known as “e-auction.gov, in”.
  • Auctions sites are very useful because you find a good deal.
  • If you bid at the right time, you will win in the auction.

6. Community buying:

  • Quicker.com, OLX is classified in market places.
  • You can place advertisements and the buyer shows his interest in buying your second-hand products.
  • In community buying, the community sells products and the community buys the products.

7. The Aggregators:

They are the people who aggregate information or product.

For example:

  • In Polocybazaar.com, you can find the insurance policies of many companies.

8. Facebook commerce:

  • Facebook shows you many products when you scroll the Facebook page.
  • You can use Facebook commerce to sell your products.

9. The single brand crossover:

  • Established brands launch their websites such as luxury watches and cars.
  • This is called a “single brand crossover” which means a single brand website with all the information of a single brand.

Key Note#4: Why do sellers face losses in an e-commerce business?

1. Cost:

  • Suppose you are not a manufacturer but you have procured any product for Rs.2.
  • You sell this product for Rs.20. You think that you have made profits of 10X.
  • It seems like 10 X but there are many hidden costs in e-commerce and you might face loss in this situation.
  • This is the reason why many people think e-commerce business is not good because you never know when you face losses.
  • So, you should use a calculator on this e-commerce course. You will never face loss in e-commerce if you understood this calculator.

2. Do you need special technology training to learn e-commerce?

You should know about the following basic technologies for e-commerce business:

  • CRM:

You should know about customer relationship management.

  • Digital marketing:
  • You should know about proper presentation and copywriting.
  • Also, you should have an understanding of branding.
  • You should know the message that should be delivered to attract customers.
  • Google analytics

You should know about Google analytics.

3.  Does e-commerce business requires huge investment?

  • Many people fear that if they don’t have crores of money in their bank account, they can’t do e-commerce business.
  • This is not true.
  • You should start a small business, remain profitable, and then establish a large e-commerce business.

4. Is e-commerce logistics very tough?

  • Logistics depends on the scale.
  • If you choose the right logistics vendor, you will never be disappointed.
  • If your business is small and you choose a large logistics company, there will be losses.
  • You should choose a logistics brand depending upon the size and scale of your e-commerce business.

In this video, you have understood what, why, and how of e-commerce.

 Now you should move ahead with knowledge and clarity and not fear. You will keep your first step in the world of e-commerce.

Section 4: Key Outcomes of the Video

  • Check out the costs of your e-commerce business
  • Learn CRM, digital marketing technologies for your e-commerce business

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