India is, and has always been a land of merchants. From gems and diamonds to spices of all flavors, from khadi-kurtas to different types of western-wear, the Indian market has an influx of products for both sellers and buyers.
With time, retailers and marketplaces have evolved. Local ‘haats’ have transformed into markets and now shopping malls. Over the last ten years, with internet making headway into smaller towns, India has seen an increase in the number of mobile users. Buying and selling online is now a mainstream practice.
Online shoppers, wholesalers, dealers and merchants are all setting up online stores across multiple marketplaces. Seller engagement has increased rapidly across the board and the number of sellers on marketplaces has grown exponentially. Snapdeal will have over 100k sellers by end of 2015, Flipkart will have about 30,000 vendors selling in the marketplace by 2015, covering over 1,000 cities across the country.
Online Sellers on Different Marketplaces
What’s The Key Driver for This Trend?
A constant effort to cast a wider net by promoting products to a wider group of consumers is the norm today. There are several factors that are influencing a marketplace centric approach, enabling sellers to sell more – online.
Listed below are some of the reasons which have been contributing to this change for quite some time now:
1. Not just one shop anymore!
A majority of online vendors are present on more than one site at a time. Of the 200k odd sellers recorded in specific geos, 62% are selling across multiple websites and 23% of them are selling on 2-3 sites.
2. Less Staff, High Volumes
Volume seems to be one of the key reasons why vendors would sell online. Even though the margins bleak, high volumes and big orders compensate for it. About 60% of the vendors have reported a growth of over 100% in their sales and have invested in selling online ever since, even without additional staff.
According to a report, accessories retailers, followed by apparel retailers, are seeing the highest growth rate in sales, almost close to 100%. Sales growth rate was lower for electronics at 50% and for books at 20%.
3. Selling from anywhere and everywhere
Most of the local vendors operate from their home in tier 2 cities, sharing warehouses and outsourcing packaging and logistics to third party services.
How to Become a Smart Seller Online?
With this growing number of online sellers every day and big retailers and wholesalers already occupying the front rows in major marketplaces, a first-time online seller needs to be smart enough to survive the competition and learn from other’s experiences.
In fact, the current scenario of Indian e-commerce, is overwhelmingly in favor of buyers. And, it won’t be wrong to say that the seller’s side story is still not addressed.
Don’t we all know that whatever the field be, the world has always seen the ‘survival of the fittest’? eCommerce is no exception to that! As the complexity, competition, and scale of online selling is expected to snowball in the coming days, online sellers, in order to survive for a longer play, must pay attention to a few things.
1. Scale fast:
Unlike offline retail, online selling works on scale. With customer reach increasing from a limited area around your shop, to everyone who can access internet, thinking about scale becomes imperative. Keep building your catalog to list every product that has a potential to be sold.
2. Sell on multiple marketplaces:
Less than 15% of all online sellers restrict themselves to only one marketplace. No doubt, listing products on different marketplaces and then managing the inventory, is a lot of effort. But that is the key to growth and if the right tools and technologies are used, no one can question the efficiency.
Their playground, their rules
The access to online buyers through various eCommerce websites doesn’t come without a cost. You have to follow the regulations of these marketplaces. Many of them take their shares when you sell your product using their platform. So, it is very important that you understand these marketplaces well, before you start using them:
3. Set your priorities:
From listing the products to packaging and shipping an order, there are various steps involved in the overall order fulfillment process. And if you are selling on multiple marketplaces, you are bound to lose your track, if you do not use the right tools. In order to render an awesome buying experience to your customers, as a seller you should focus more on the quality of product while relying on one or other eCommerce platforms for inventory management, packaging, and delivery.
4. Invest in Content:
When you are selling online, content is your shopkeeper. A well-written product description, an interactive buyer’s guide or a product comparison chart will certainly help in more conversions. Even search engines prefer original and good quality content on product pages. Most of the marketplaces too, restrict the sellers to upload listing with incomplete or inaccurate data. Learn how to write a rich product description >>
5. Automate to grow:
There are various e-commerce platforms that enable the sellers to upload their listing online in highly scalable and efficient manner. With the help of right online channels, sellers can manage their inventory across multiple marketplaces in just a few clicks. So, do not shy away from using new technology and platforms, if you’re really aiming high in grabbing an online space.
How eZdia makes it easy for Sellers?
eZdia is a platform that helps sellers list down their products on multiple marketplaces along with high quality images, correct attributes, and compelling product descriptions. eZdia’s self serve portal, has made product listing as easy as sharing your pictures on WhatsApp. With thousands of freelance professional photographers and content writers across the country, eZdia offers its virtual team of e-commerce experts and its in-depth understanding of various marketplaces to all its sellers.
To get your products listed across multiple marketplaces soon, with high quality pictures, Contact us today!