Start ecommerce business in India – In India more and more people are going online and day by day there is an increase in number of people who are acquiring internet for commercial and personal use. People are doing everything online from leisure to business to online shopping. When we talk about online shopping, in recent years India has seen a tremendous growth. Ecommerce industry in India is the fastest growing and most profitable industry in recent time.
So, if you are planning to start ecommerce business in India, then it would be a profitable domain in the coming future!
Facts about Indian ecommerce industry-
Let us give you some facts on ecommerce industry based on studies done by some of the great business institutions in India.
In the year 2009, India’s ecommerce market was approx worth of $3.9 billion which went to $12.6 billion in the year 2013. About 70% of India’s e-commerce market is travel related. According to Google India, there were 75 million online shoppers in India in the year 2015 and was expected to cross 150 million mark by end of year 2018.
The Internet and Mobile Association of India have conclude in their study that the e-commerce sector is estimated to reach Rs. 411,005 crore by December 2018.
According to Indian Institute of eCommerce, Online apparel sales are set to grow four times in coming years. By 2020 fashion e-commerce in India is expected to generate $100 billion online retail revenue.
By reading the above facts and figures you must have thoughts of taking advantage of this ecommerce opportunity. So let us show you how you can open and run successful ecommerce business.
How to start ecommerce business?
In India you can become a part of ecommerce industry by two ways-
- By selling products on established ecommerce websites like Amazon, Flipkart, Snapdeal and Ebay.
- By establishing your own website
Among the above listed options, first option is the most easiest and fastest to start in India as you require registration on those mentioned website, need to have ID proofs and GST registration.
Second option can be tricky or complicated as you require capital and funds LIKE-
- Developing a website
- Control on inventory
- Payment setup
- Developing a brand
So, in this article we will talk in details about how you can open a ecommerce business.
Steps to Start an ecommerce business-
First step in starting an ecommerce business is to decide name of your company and deciding the business model. The next step is to get your company registration like Firm Registration , Partnership Firm , Pvt Ltd, LLP, OPC company, etc.
Then GST registration, getting a bank account, getting a trademark or registering your brand name and logo. Searching and booking a domain name for your business website.
Second step is to secure a payment gateway to receive payment from customers. Payment gateway is required to process customer payments through credit card, debit card, internet banking, etc. Some of the best payment gateways in India are Instamojo, CCAvenue, Citruspay, Payubiz, Payumoney, EBS, etc.
Third step is to plan and find out what sort of Products you will be selling on your ecommerce website like physical products, digital products, ebooks, etc. Then you have to secure them and create an inventory of those products. You can also look at your rival ecommerce websites to get an idea on product and their pricing.
Fourth step is to build a website for your company or get a professional expert to help you in getting a good web design and web development for your ecommerce website.
Fifth step is to start marketing of your website using both online and offline platform or you can seek help of an internet digital marketer who will help you to promote and reach potential customers online to generate sales and achieve growth of your Ecommerce Business.
I hope you have read this article on “how to start ecommerce business” till the end and I hope I was able to educate you in a better way about how you can start an ecommerce business in india. If you still have doubts or want help in areas like company registration, GST registration and Trademark Registration, you can email us at [email protected]