Category: E-Commerce

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E-Commerce Marketing Sales Startup

Lead Generation Tips: 3 Proven Strategies that will grow your leads, Certainly!

If there is one thing that can make or mar your business, it is – leads. Without leads, your business will gradually and then eventually fail. Certainly, organizations have multiple goals, but a large percentage of organizational goals are focused on lead generation.

How you define the term ‘conversion’ is your call. But regardless of its definition, on average and across every industry, the lead conversion rates are alarming. Data provided by Statista showed that the e-commerce sales conversion rates in the first quarter of 2018 were as low as 1.79% for website visits on mobile phones.

Leads are those qualified prospects who can become customers and the ambassadors of your brand if you play your cards perfectly. Every marketer, particularly B2C marketers try to generate leads from various platforms and to boost their conversion rate.

But often, these channels do not yield the desired results. If you have spent a lot of time creating content to generate the right leads, but are still not getting any results, then do not get disheartened, as you are not alone.

According to HubSpot`s statistics, 54% more leads are generated inbound tactics as compared to traditional paid marketing.

So what could be the starting point of understanding and discovering the assured path that will lead you to success? Perhaps, understanding your customer! What does your potential customer want? Once you have a clear and crisp answer and can tie it up to a high-converting landing page, you will generate leads, guaranteed.

Another factor that you must focus on is to give priority to creating the right content. Once you have a committed mindset and approach, you can implement these 5 lead generation tips to boost your leads faster:

1. Review your Homepage

As lead generation starts from home, reviewing your website homepage is a brilliant idea. Most marketers receive visitors on their homepage. And since, the homepage receives a large amount of traffic, would not it be a good idea to review and adjust your homepage?

Adding a powerful CTA (call-to-action) with other elements such as headlines, subtitles, and images can increase lead generation by up to 50 percent. Also, if you have a new offer always ensure that you have mentioned it on your landing page. And the two are in sync.

2. Share links to your webinars in your content

One of the best tips you can implement in your marketing strategy is how a webinar can brilliantly in your favor. A webinar is a low-cost way to get your message directly across your target audience, who asked for it when they signed up.

If you can host a webinar and link it directly to your content, your leads will take you more seriously due to the value you have provided to your audience through a webinar. This will help to build trust and credibility between you and your customers.

When people are engaged, the magic begins to happen. Engagement is the only purpose of hosting a webinar. And if you want to take your lead generation to the next level, you must consider hosting a webinar. You can generate leads, nurture them and build a successful business.

3. Separate your Lead Generation Team from Sales Team

If you want to convert the visitors who visit your landing page, you need to keep testing your landing pages including subtitles, headline, bullet points, CTAs, and more. And when it comes to lead nurturing, you have got to keep the lead generation team and sales team separate.

Lead generation is the process of stimulating and capturing the interest of the audience in a particular service or product to develop sales in the pipeline.

On the other hand, the sales team is primarily concerned more with the business with the exchange of goods and services for money. Their focus is on selling more.

Always, remember that the objective of keeping the two teams separate is that one team will be responsible for lead generation, and sales are to improve your customer satisfaction.

Strategies are not some magical push-up buttons, but they have been proven to work if implemented successfully. Real satisfaction comes from the things you learn in the process of applying these proven lead generation tips.

Want to learn more about lead generation and smart tips to increase them? With our Everything about Entrepreneurship course, you can gain in-depth knowledge of sales. To know more, click here: https://www.badabusiness.com/?ref_code=ArticlesLeads

 

 

Categories
E-Commerce Process & Business Expansion Startup

Online E-commerce Store: 4 Incredibly Powerful Ways to optimize your E-commerce business!

Without a doubt, the pandemic has changed the world operation. Society has changed the way in distinct ways due to Covid-19, and companies and businesses too joined in. And as the pandemic continues, be it a small or a large organization, all the companies have pivoted to online sales to not only survive and break through the challenges but also to keep their employees and customers safe.

According to a report by India Brand Equity Foundation, ‘the Indian E-commerce market is expected to grow to US$ 200 billion by 2026 which was US$ 38.5 billion in 2017.’

Entrepreneurs who are willing to embrace this change and prepping up to align with the dynamic market trends need to understand that it takes more than a digital storefront to create a successful E-commerce business. Unless every single visitor that comes to your website makes a purchase, there is always a scope for your improvement, and E-commerce optimization could be the key.

With the increase in internet and smartphone penetration, the number of internet users in India significantly risen to 760 million. These statistics have opened wonderful opportunities for those who know how to optimize their E-commerce business.

So how can you optimize your e-commerce business to boost sales?

Here are 3 effective ways that will give guaranteed increase your E-commerce conversion rate:

1. Make Remarkable Product Pages

Your product is what you are trying to sell, right? So, your primary step should be to create product pages that are clutter-free and showcase conviction for the visitors to purchase. Always try to keep it simple and easy to navigate for users, as the users tend to lose interest in sites that do not have an attractive and easy-to-navigate interface.

Don`t believe us, but the statistics, according to which 38% of people find websites with uninteresting content and layouts unattractive and will stop engaging. Result? Drop-in sales.

a). Product Placements– Try to make your business website as simple as you can. Place your products on both the hierarchy and history (where people have visited the site). You can also give your products catchy and SEO-friendly titles. This will help your website pages to rank in Google search and will bring more visitors to your website.

b). Product Images– Work on your product images too. The images of your products can encourage customers to purchase them. Include pictures of your product taken from different angles to give customers a good view of the product they are interested in.

c). Product Descriptions- A well-written product description gives all the necessary details that will help shoppers to see how the respective product will add value to their lives. At least, the best ones do!

2. Bring your Product Pricing on Point

It is essential to get your pricing right, or else no shopper will buy. There are few brilliant ways to do it. Here are the best three:

a). Place Two Products together- Did you know that placing two products side-by-side can increase the sales for lower-priced products? If you have a product that is not in demand and have fewer sales then you can put a premium version side-by-side. This will divert customer`s attention towards the lower-priced item and will double up your sales.

b). Have a clear CTA- Want more shoppers to buy your products? Then you have got to direct them to do so. This is why it is essential to have a clear ‘call-to-action that uses action, words and creates urgency amidst the customers to take immediate action.

c). Reduce Analysis Paralysis- ‘Analysis Paralysis’ is a term that describes the pattern of overthinking and overanalyzing that causes decision-making to become paralyzed. This happens on an e-commerce platform very frequently. With overwhelming choices to choose from, a visitor can get confused. Hence, it is best to keep the copy short and highlight the preferred option to reduce on the pricing page.

3. Win your Customers with Personalization

In this busy world, where people are always up to something, they hate seeing irrelevant content.

A report by Gartner says good personalization can increase profits by 15%. Hence, personalization can help shoppers to go directly to what they are looking for. Display relevant results, personalized offers, and content to your consumers in which they are truly interested. For instance, if a person is looking for a psychology book, showing him fictional books or mythological characters will not help him or her in any way.

This will result in losing a potential customer, who might decide never to visit your website again. Hence, use the data that you already have from the web and social analytics that shows who they are, what they like, and what they were looking for on your website.

Even if a visitor leaves your site without purchasing anything, you can send a personalized e-mail to them for your next promotional offers.

4. Optimize for Mobile

According to a survey by Sweor smartphones held a 63% share of all retail website visits. Hence, this is one E-commerce optimization that no online business store can afford to skip. Today, people use mobile devices than desktops. It is also one of the most vital channels for researching products and services.

Optimize your page titles and descriptions for mobile search. You can also integrate the voice search feature as well. You need to have a marketing strategy to build campaigns that will attract more visitors to your website and can increase boost conversion by 150%.

Today, users are keen to do online shopping and get products delivered to their doorstep. Hence, the E-commerce business has a brilliant future in India, and this trend is going to stay now!

If you want to start your E-commerce store or already have one, you can learn from premium quality of business courses provided by one of the best business consultants in India– Bada Bubsiness.

To know more, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

 

Categories
Business Startup Ideas E-Commerce Marketing

Online E-commerce Store: 4 Incredibly Powerful Ways to optimize your E-commerce business!

ई-कॉमर्स

Without a doubt, the pandemic has changed the world operation. Society has changed the way in distinct ways due to Covid-19, and companies and businesses too joined in. And as the pandemic continues, be it a small or a large organization, all the companies have pivoted to online sales to not only survive and break through the challenges but also to keep their employees and customers safe.

According to a report by India Brand Equity Foundation, ‘the Indian E-commerce market is expected to grow to US$ 200 billion by 2026 which was US$ 38.5 billion in 2017.’

Entrepreneurs who are willing to embrace this change and prepping up to align with the dynamic market trends need to understand that it takes more than a digital storefront to create a successful E-commerce business. Unless every single visitor that comes to your website makes a purchase, there is always a scope for your improvement, and E-commerce optimization could be the key.

With the increase in internet and smartphone penetration, the number of internet users in India significantly risen to 760 million. These statistics have opened wonderful opportunities for those who know how to optimize their E-commerce business.

So how can you optimize your e-commerce business to boost sales?

Here are 3 effective ways that will give guaranteed increase your E-commerce conversion rate:

1. Make Remarkable Product Pages

Your product is what you are trying to sell, right? So, your primary step should be to create product pages that are clutter-free and showcase conviction for the visitors to purchase. Always try to keep it simple and easy to navigate for users, as the users tend to lose interest in sites that do not have an attractive and easy-to-navigate interface.

Don`t believe us, but the statistics, according to which 38% of people find websites with uninteresting content and layouts unattractive and will stop engaging. Result? Drop-in sales.

a). Product Placements– Try to make your business website as simple as you can. Place your products on both the hierarchy and history (where people have visited the site). You can also give your products catchy and SEO-friendly titles. This will help your website pages to rank in Google search and will bring more visitors to your website.

b). Product Images– Work on your product images too. The images of your products can encourage customers to purchase them. Include pictures of your product taken from different angles to give customers a good view of the product they are interested in.

c). Product Descriptions- A well-written product description gives all the necessary details that will help shoppers to see how the respective product will add value to their lives. At least, the best ones do!

2. Bring your Product Pricing on Point

It is essential to get your pricing right, or else no shopper will buy. There are few brilliant ways to do it. Here are the best three:

a). Place Two Products together- Did you know that placing two products side-by-side can increase the sales for lower-priced products? If you have a product that is not in demand and have fewer sales then you can put a premium version side-by-side. This will divert customer`s attention towards the lower-priced item and will double up your sales.

b). Have a clear CTA- Want more shoppers to buy your products? Then you have got to direct them to do so. This is why it is essential to have a clear ‘call-to-action that uses action, words and creates urgency amidst the customers to take immediate action.

c). Reduce Analysis Paralysis- ‘Analysis Paralysis’ is a term that describes the pattern of overthinking and overanalyzing that causes decision-making to become paralyzed. This happens on an e-commerce platform very frequently. With overwhelming choices to choose from, a visitor can get confused. Hence, it is best to keep the copy short and highlight the preferred option to reduce on the pricing page.

3. Win your Customers with Personalization

In this busy world, where people are always up to something, they hate seeing irrelevant content.

A report by Gartner says good personalization can increase profits by 15%. Hence, personalization can help shoppers to go directly to what they are looking for. Display relevant results, personalized offers, and content to your consumers in which they are truly interested. For instance, if a person is looking for a psychology book, showing him fictional books or mythological characters will not help him or her in any way.

This will result in losing a potential customer, who might decide never to visit your website again. Hence, use the data that you already have from the web and social analytics that shows who they are, what they like, and what they were looking for on your website.

Even if a visitor leaves your site without purchasing anything, you can send a personalized e-mail to them for your next promotional offers.

4. Optimize for Mobile

According to a survey by Sweor smartphones held a 63% share of all retail website visits. Hence, this is one E-commerce optimization that no online business store can afford to skip. Today, people use mobile devices than desktops. It is also one of the most vital channels for researching products and services.

Optimize your page titles and descriptions for mobile search. You can also integrate the voice search feature as well. You need to have a marketing strategy to build campaigns that will attract more visitors to your website and can increase boost conversion by 150%.

Today, users are keen to do online shopping and get products delivered to their doorstep. Hence, the E-commerce business has a brilliant future in India, and this trend is going to stay now!

If you want to start your E-commerce store or already have one, you can learn from premium quality of business courses provided by one of the best business consultants in India– Bada Bubsiness.

To know more, click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads

 

 

 

 

Categories
E-Commerce Startup Strategy

5 Crucial Tips for Entrepreneurs & Wantrepreneurs to Enhance Productivity!

Productivity is critical for success! It acts as a catalyst to enhance the efficiency and growth of a business. From entrepreneurs to wantrepreneurs, solopreneurs to business owners, productivity is of utmost importance.

Finding ways to be productive and not just busy is essential for every entrepreneur and wantrepreneur is crucial in these economically turbulent times. And, if you are between managing people, meeting deadlines, and performing random tasks dutifully, you are running a business, perhaps you are also running out of time.

If you can thrive while juggling between the distinct job roles, then CONGRATULATIONS! But, if you feel like you are hanging by a thread most of the time while managing the hectic work schedule, then don`t feel bad. Because being an entrepreneur can be a tough task.

And, if you are not making constant efforts to improve your productivity, it`s only a matter of time before all those goals and aims will come crashing down. However, increasing your productivity is not rocket science, given that you are willing to put all your efforts down.

You can complete all your major tasks in less time if you maximize your efforts and minimize distractions. Here are 5 brilliant tips that will improve your productivity rapidly, as a busy entrepreneur:

1. Build Time Blocks- Figure out your most productive time

Do you struggle with focusing on prioritizing tasks? Do you often fail to manage your time? If you found yourself nodding your head while reading the above two questions, then Time Block could be the solution.

A time block is nothing but small parts of your scheduled time throughout your day. You can decide the tasks you would like to complete according to their priority. Focus on a single task and ignore everything else. Focusing on a single task at a given point of time helps you to concentrate and perform better. It also ensures that you tick off all the important tasks for the day.

2. Implement Accountability

We often underestimate the power of public accountability. Public accountability is something that can truly motivate us.

Make a to-do list and set short-term goals, even if it means finishing your pending tasks for the day/week. Share your tasks and goals with a co-worker, friend, or with your team. Knowing that you will have to report back and be answerable for not meeting these goals will keep you motivated to perform better to see them through.

3. Say Goodbye with Multitasking

We know that in today`s busy world, most people will suggest you handle multiple tasks at one go. However, what most people forget to mention is that it reduces efficiency & productivity. When you are being pulled in hundred different directions daily, it is really hard to give your best and deliver quality results. Jobs are often left open and incomplete, or they are full of human errors due to simple oversight.

This is why staying focused on one task until its completion ensures that it has your 100% concentration and done to the fullest potential.

4. Minimize Distractions

Easier said than done, we know, but try to reduce unnecessary distractions throughout the day that we perform unconsciously. You can also right ‘Day in your life off’, which is a wonderful way to take note of where you are spending your maximum time.

All you have to do is write about your assigned task and your daily routine which you follow. This will give you an idea of where your maximum amount of time is getting spent. For instance, you can reduce social media browsing, or spending too much time on your phone.

5. Learn to say ‘NO’ Politely

When you segregate your daily tasks and schedules, it is time to prioritize them whole-heartedly. Allocate your time to the most worthwhile tasks, which will help you to achieve your goals. This also means saying ‘No’ to new projects, new assignments, new clients, and new responsibilities.

Saying NO to non-essential tasks will help you to finalize the list and helps you to stay adhered to your to-do list.

When you are an entrepreneur or a wantrepreneur who is ‘work under progress’, it`s easy to be “on” at all times. However, staying busy and occupied all the time can stifle your mind and block your creative juices from flowing.  Take time to distress your mind regularly as it will impact your effectiveness. And your mind and business will thank you.

Want to know how to deal with business challenges that come unannounced? With our ‘Everything about Entrepreneurship’ (EAE), you can learn business insights and in-depth knowledge from the top industry experts. To know more about EAE, click: https://www.badabusiness.com/?ref_code=ArticlesLeads.

 

Categories
E-Commerce MSME

Flipkart Wholesale Expands Operations to 12 New Cities to Help Digitally Transform Retails, Kiranas, MSMEs

Flipkart. (Photo Credit: Twitter/@Flipkart)
Flipkart. (Photo Credit: Twitter/@Flipkart)

Bengaluru, September 25: E-Commerce firm Flipkart Wholesale on Thursday said that it expanded its operations to 12 new cities ahead of the festive season. With this, now the Flipkart will be operational in Ghaziabad, Faridabad, Mysuru, Chandigarh Tricity, Meerut, Agra, Jaipur, Thane-Bhiwandi-Ulhasnagar, Greater Mumbai, Vasai-Virar-Mira-Bhayanadar, Thane (Kalyan-Dombivli) and Thane (Navi Mumbai).

With an aim to digitally transform kiranas and micro, small and medium-sized enterprises (MSMEs) to help them grow faster, Flipkart is mulling to expand the fashion category in these cities. The e-commerce firm is also looking forward to retaining their customers and improve their profitability.

Issuing a statement, Senior Vice President and Head – Flipkart Wholesale — Adarsh Menon — said, “As we enter the festive season, we are excited to be scaling up our offerings across 12 cities, aiming to create more opportunities for MSMEs and Kiranas.” Adding more, he said, “From trendy Jaipuri Kurtis to evergreen Mysuru silk saris, we aim to help small businesses embrace the digital transformation and emerge as more robust businesses.”

Apart from retail, Flipkart Wholesale is also planning to expand into categories such as home and kitchen, and grocery. Through its expansion, Flipkart Wholesale claims customers will have access to easy credit facilities in partnership with leading banks and non-banking financial companies to manage cash flow. Earlier in September, Flipkart had launched Flipkart Wholesale’s operations and stated that the platform was available for fashion retailers, especially footwear and apparel, in Gurugram, Delhi and Bengaluru.

Categories
E-Commerce MSME Startup Strategy

Amazon India Helps Women Entrepreneurs, Artisans and Weavers to Double Their Sales in 10 Weeks Under ‘Stand for Handmade’ Initiative

Amazon India. (Photo Credit: Image grab)
Amazon India. (Photo Credit: Image grab)

Bengaluru, September 23: Amid the COVID-19 pandemic, Amazon India came up with ‘Stand for Handmade’ initiative, to help over 10 lakh artisans and weavers and women entrepreneurs. On Monday, the e-commerce portal stated that customers from more than 12,000 pincodes in India purchased a product from the ‘Stand for Handmade’ store front. Due to this, artisans, weavers and women entrepreneurs were helped to double their sales in the 10-week period.

Amazon further added that the ‘Stand for Handmade’ initiative enabled sellers from Amazon Karigar — for weavers and artisans and Amazon Saheli — for women entrepreneurs — to register 3.2 times and 2.1 times growth. Adding more, it said that 32 sellers crossed Rs 1 lakh in sales during the 10-week period while two sellers crossed Rs 1 crore in sales.

Issuing a statement, Director of MSME and Seller Experience at Amazon India — Pranav Bhasin — said, “We are humbled by the response to this initiative as customers from more than 12,000 pincodes purchased a product from the specially-curated store front. With the festive season coming up, we remain focused on helping our sellers further accelerate and grow their business.”

Bhasin added that more than 200 new sellers joined the Karigar programme and benefited from 100 per cent SoA (sell on Amazon) fee waiver. Categories which witnessed the highest overall sales included apparel, grocery and home decor. Also, 508 Sambalpuri weaver families from Orissa were able to seller sarees than could span over 17,738 yards while more than 4,500 Pochampally weavers from 56 villages of Telangana have recovered and were able to resume their handloom weaving business.

Amazon said, “More than 5,200 weavers from Bengal are now back to weaving exquisite weaves on their looms and the lives of 200 Banarasi weavers were positively impacted through sales of handloom Dupattas and Sarees.” It added that more than 8 lakh artisans and weavers from Amazon Karigar program and more than 2.8 lakh women entrepreneurs from Amazon Saheli program benefited from a 100 per cent SoA fee waiver for 10 weeks.

Categories
E-Commerce Legal MSME

KVIC’s Legal Action Forces Flipkart, Amazon, Snapdeal to Remove 160 Fake Khadi Products Online

KVIC. (Photo Credit: Image grab)
KVIC. (Photo Credit: Image grab)

New Delhi, September 20: The Khadi and Village Industries Commission’s (KVIC) on Sunday informed that its firmness had forced e-commerce portals like Amazon, Flipkart, Snapdeal and others to remove over 160 web links selling products in the brand name of ‘Khadi’. The new development comes days after KVIC served legal notices to over 1000 firms using the brand name ‘Khadi India’ to sell their products.

Issuing a statement, KVIC said, “These e-commerce portals were selling products like Khadi masks, herbals soaps, shampoos, cosmetics, herbal mehandi, jackets, kurta and many such products through different sellers using the brand name ‘Khadi’. This created a false impression among online buyers that these commodities were genuine ‘Khadi’ products. KVIC also stated that a majority of the products that have been removed were being sold by one Ayush E-Traders. This firm has confirmed to KVIC that it has removed 140 links for various products that were being sold as ‘Vagad’s Khadi Products’.”

Adding more, KVIC stated that there has been a steep rise in violation of Khadi trademark as the popularity of Khadi grew manifold in recent years. It added that a number of online sellers began selling random products in the name of Khadi. For the ease of online customers to buy genuine Khadi products, KVIC has launched it’s e-portal selling a range of 300 products online at www.kviconline.gov.in/khadimask.

KVIC recent action has resulted in shutting down a number of stores across the country that were selling fake Khadi products. KVIC Chairman Vinai Kumar Saxena said, “Legal notices have been issued to various firms essentially to safeguard the interest of Khadi artisans. This trademark violation has a direct bearing on the livelihood of our artisans who are making genuine handcrafted products.”

Earlier in August, KVIC had issued legal notices to two firms Khadi Essentials and Khadi Global for unauthorizedly selling cosmetics and other products in the name of Khadi. The KVIC had also sought damages to the tune of Rs 500 crore from Fabindia which is pending before the Bombay High Court.

Categories
E-Commerce Finance MSME

Khadi’s E-Market Portal Empowers Local Artisans Through ‘Atma Nirbhar Bharat’ Initiative, Sells Their Products to Remotest Parts of India

Khadi's E-Market Portal
Khadi's E-Market Portal.

New Delhi, September 9: With just two months of launching the KVIC E-Portal, Khadi and Village Industry Commission’s (KVIC) venture into the online marketing segment has quickly established a pan-India reach. The portal — www.kviconline.gov.in/khadimask/ — has enabled the artisans to sell their products to the remotest parts of India. Currently, the KVIC E-Portal sells over 180 products and many more are in the pipeline.

Aiming to appeal Indians go ‘Vocal for Local’, KVIC has a list of products range including hand-spun and hand-woven fine fabric like Muslin, Silk, Denim and Cotton, Unisex Vichar Vastra by Ritu Beri, Khadi’s Signature Wrist Watch, a variety of honey, Herbal and Green Tea, Herbal Medicines and Soaps, Papad, Kacchi Ghani Mustard Oil and a range of herbal cosmetics among many others.

Apart from this, KVIC is adding at least 10 new products to its online inventory on a daily basis, setting its target to add at least 1000 products by October 2, 2020. Union government stated that KVIC had served nearly 4000 customers in just two months. The product range is priced from Rs 50 to Rs 5000, keeping in view the choice and affordability of all sections of buyers.

Elaborating the aim of KVIC’s E-Portal, its chairman Vinai Kumar Saxena said the online sale of Khadi products is a big push to ‘Swadeshi’ and aims at empowering the local artisans. He added, “Khadi’s E-market portal is providing our artisans with an additional platform to sell their goods. This is a concrete step towards the building of Aatmanirbhar Bharat.”

Adding more, he said, “Earlier products of Khadi institutions were sold only through outlets and hence their visibility was confined to a few states only. However, with KVIC’s E-portal, products are now reaching to the far-flung areas of the country and thus giving wider marketing spectrum to Khadi institutions which will ultimately increase their production and add to the income of artisans.”

The government claims that KVIC has received online orders from 31 States and Union Territories that include the far-flung Andaman and Nicobar Islands, Arunachal Pradesh, Kerala, Himachal Pradesh and Jammu & Kashmir. For the ease of customers, KVIC has fixed the minimum order value at Rs 599 for free delivery of goods. It has also entered into an agreement with the Postal Department for delivery of consignments via Speed Post.

Among the variety of products that KVIC sells also includes Modi Kurta and Modi Jackets for men and palazzo and straight trousers for women. Other products like — Khadi Rumal, spices, herbal neem wood comb, shampoo, cosmetics, cow dung and cow urine soap, yoga dress and several varieties of ready-to-eat food — have been included so far.

Categories
E-Commerce Finance

Essential Commodities to Fuel Revival of Retail Sector in India As Consumer Expenditure Remains Focused on Essentials, Says Report

Retail Sector (Photo Credits: Pexels)

A recent study has revealed that the demand for essential commodities is likely to drive the revival of the retail sector in India. According to a report by Anarock Retail and the Retailers Association of India (RAI) titled ‘Indian Retail – Certainty Despite Headwinds’, the average bill value for essentials has gone up 1.5 times after lifting of lockdown — from Rs 650 per basket in early March to more than Rs 900 per basket presently.

“Amidst the pandemic-induced slowdown, essential goods will fuel Indian retail industry’s growth in the coming quarters as consumer expenditure continues to remain focused on essentials, particularly food and grocery,” said a joint statement by Anarock and the RAI.

Anuj Kejriwal, MD & CEO of Anarock Retail, was quoted by IANS saying that COVID-19 will work as a catalyst for the growth of organised retail and e-commerce in India. “Online spending is on a marked rise with online shoppers projected to increase from 15 per cent in 2019 to 50 per cent of the total online population by 2026”, Kejriwal added. The CEO of Anarock Retail further added saying that other new retail industry trends, omni-channel retailing is evolving rapidly with brands collaborating actively to enhance their reach and many are using malls or in-mall stores as urban warehouses to ensure a faster delivery to customers.

The report further adds that organised retail and e-commerce are on an upswing. Giving details of the revival of several retail sectors, the report added that food and grocery, followed by apparel, fast moving consumer durables (FMCD) and electronics, furniture and home furnishings and quick service restaurants (QSR) will see a “v-shaped” recovery within the next two to three quarters. Meanwhile, several other segments including beauty, wellness and personal care and home essentials may take 4-6 quarters to recover fully, the report said.

Citing IBEF data, the report adds that the share of Indian organised retail will double to 18 percent in 2021, from 9 percent in 2017. Similarly, the e-commerce is expected to more than double to 7 per cent from the previous 3 per cent in the same period.

Kumar Rajagopalan, CEO, Retailers Association of India (RAI) was quoted in the report saying that Omni-channel was gaining importance before the pandemic and the pandemic has enhanced the importance of retailers having an omni-channel strategy.

Categories
E-Commerce

Flipkart Wholesale Launches Business-to-Business Platform for MSMEs and Kiranas

Flipkart. (Photo Credit: Twitter/@Flipkart)
Flipkart. (Photo Credit: Twitter/@Flipkart)

Bengaluru, September 3: E-commerce platform giant Flipkart has recently launched operations of its digital business-to-business marketplace, aiming to connect local manufacturers with retailers. With the launch of Flipkart Wholesale’s B2B platform, Flipkart aims to bring the entire wholesale marketplace at their fingertips.

Issuing a statement, Senior Vice President and Head of Flipkart Wholesale — Adarsh Menon — said, “With the strong capability within the group in B2B, we will focus on meeting the needs of kiranas and MSMEs by providing these small businesses a wide selection at significant value, powered by technology to make their lives easier.”

Adding more, he said, “Whether in grocery, general merchandise or fashion, these businesses will have one-stop access to an extensive selection of products with attractive schemes and incentives.” Menon stated that Flipkart Wholesale is currently available for fashion retailers, especially footwear and apparel, in Gurugram, Delhi and Bengaluru. However, Flipkart is planning to expand the platform to Mumbai as well.

Meanwhile, Head of Flipkart Wholesale stated that e-commerce is planning to the new platform to 20 more cities and in categories such as home and kitchen and grocery by December 2020. It is also aiming to rope in over 300 strategic partners and has over two lakh listings in two months.

Apart from this, the business-to-business (B2B) platform will enable the onboarding of 50 brands and over 250 local manufacturers in the coming days. Through this platform, kiranas, resellers and MSMEs will have access to the easy credit facility. The company statement said that platform, will provide a wide range of assured quality products, micro-market level B2B and B2C insights from the Flipkart ecosystem and an easy order tracking facility.