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2018-08-09 00:10:36Growing a Business: Product SellingEnglishE-commerce in India is growing incredibly fast as internet access becomes more widely available. This article answers the query what is... Business Term: What is E-Commerce?

Small Business Term: What is E-Commerce?

2 min read

With increasing internet penetration and use of smart devices, India has become one of the fastest growing e-commerce markets worldwide. Home grown players such as Flipkart and Snapdeal have shown tremendous growth over the years, thus displaying immense potential of  e-commerce sector in India.

So What Is E-Commerce?

The term e-commerce simply means performing commercial business transactions online. Buying and selling goods and services online has many benefits, with the most obvious being the ability to reach a global market. E-commerce in India is growing incredibly fast as internet access becomes more widely available. Now is an exciting time to board the e-commerce train before the market becomes increasingly saturated.

How Can You Grow Your Business Via Selling Online?

For starters, you may be able to reduce your overhead costs significantly by buying materials online. Whether you’re looking for marketing materials or inputs to manufacture a product, there are plenty of deals to be had on the internet.

You can also grow your business by offering online shopping for your product or service. While you may have a strong local following, putting your offering into the global market may help you grow your audience. This may lead to increased revenue and, naturally, your bottom line. You may be able to find customers from around the world who appreciate products made in India.

Another great way to use e-commerce to your advantage is to make shopping easier for your local customer base. For example, if you run a food-delivery service, you could provide a website where your customers can place their orders. This online booking option makes things easier for your customers, improving the chances of them using your service. Of course, the same principle applies when selling products online. —Your customers can order products online and pick them up locally. Or they can have them shipped, rather than traveling to a physical store.

If you’re considering moving your business online, you may want to start small. Once you see results, you can then ramp up things organically. You can test the waters by building a website for your local customers to use.  Next, you can scale up bit by bit according to your comfort level. E-commerce is only going to become more and more common.  So now is the perfect time to join this exciting movement while there’s still plenty of upward momentum.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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