Tag: E-Commerce Platform

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Technology

Indian Businesses Aim To Tap Consumers Directly in 2021 via Digital Platforms, Says Report

Bengaluru, January 7: As the economy limps back to normalcy, India’s focus will now be more on the digital side in terms of growing businesses. According to a new report, as the economy recovers from the lull caused by COVID-19 pandemic, businesses are preparing flexible models that operate in an online-offline mix. Moreover, the focus for digital platforms in India will be on selling directly to the consumers in 2021, the report said. “Small businesses in India are today evolving themselves as per the consumer and industry requirements”, it added.

According to the findings, entrepreneurs today understand the power of online presence and digital operations. “There has been a 3 times growth in unique businesses creating online stores,” the report mentioned. The payment gateway and ecommerce platform has on-boarded more than 2 lakh small businesses from tier II and tier III cities during the lockdown period. Akash Gehani COO & Co-founder, Instamojo, was quoted by IANS saying that small businesses are hungry for growth and much more resilient than we could’ve imagined. “Merchants have come to understand the diverse nature of consumers and that innovation is the key differentiator,” he said.

Instamojo had launched a report on the e-commerce outlook for 2021 which draws the experiences of more than a million small businesses across the country. Explaining how online presence has grown over the years, Gehani explained that small businesses owners are making necessary changes to their brands, to the way they operate, and also the way they deal with their customers online in order to survive in the growing e-commerce space. He said that more than 70 percent of these entrepreneurs had no prior online presence.

The report by IANS said that as a large number of businesses went online in 2020, they also recognised the importance of a wide social media presence. MojoVersity, Instamojo’s e-learning platform for entrepreneurs, saw a 9 times growth in enrolments and 11 times growth in the number of merchants getting digitally certified in 2020. The number of businesses updating their social media handles on their Instamojo online store went up an average of 30 percent (QoQ).

“As more entrepreneurs emerge from smaller towns and cities in India, accelerators and incubators are also expanding their services into markets to help nurture the upcoming businesses. Industry reports indicate that 40 percent of investors will come from Tier II and Tier III cities,” report added.

Categories
MSME

Amazon, Flipkart & Other E-commerce Sites Attract SMEs to Help Them Accelerate Their Business in the Festive Season

Online Business
Online Business

Mumbai, November 3: Online e-commerce platforms like Flipkart, Amazon and others are seeing increased participation from several Small & Medium Enterprises (SMEs) ahead of Diwali 2020. The online platforms are also trying to woo the SMEs to help them accelerate their business amid the pandemic.

Some of the other e-commerce platforms like Nykaa, Myntra, ShopClues, Snapdeal, TradeIndia, and others are also giving the local business community a platform to onboard and sell products, hand-holding them through the processes.

Customers were given the opportunity to shop for unique products from thousands of Amazon sellers under various programs such as local shops, Amazon Launchpad, Amazon Saheli, and Amazon Karigar.

According to an Economic Times report, this surely comes as a positive sign as a survey by Neilsen had predicted that more than 85 percent of SME sellers on Amazon had expected to reach out to new customers and see an increase in sales. These businesses came up with interesting offers to attract the attention of the customers.

This pandemic has taught small companies to adapt to technology to accelerate growth, open up a market that had in the past viewed technology companies as competitors.

Categories
E-Commerce Process & Business Expansion

Flipkart Ties-Up With Nepal’s E-Commerce Firm Sastodeal to Enable Cross-Border Trade, Now Its MSMEs Can Sell Their Merchandise Abroad

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

Good news for India MSMEs. All the Indians MSMEs which are registered with e-commerce giant Flipkart will now be able to sell their merchandise abroad as well as the homegrown e-commerce platform. Flipkart had partnered with an e-commerce company in Nepal named Sastodeal. With this, Flipkart aims to create cross-border trade opportunities for lakhs of sellers who are registered with its platform.

Expressing his opinion on the partnership with Nepal’s Sastodeal, Flipkart’s Head of Marketplace Jagjeet Harode said, as quoted by Financial Express, “The partnership with Sastodeal, a homegrown brand like ours, will not just open doors for a wider market reach to our sellers but also allow them to boost their business significantly.”

With this partnership in place, both the e-commerce company will list products from Flipkart marketplace sellers under various categories including audio devices, men’s clothing, women’s ethnic wear, and sports and fitness, among others. Flipkart states that this new collaboration will help numerous MSMEs — spread across the country — experience newer avenues for business growth. Flipkart also sees this partnership as an opportunity as in Nepal, there has been a surge in online shopping.

Apart from local sellers, Flipkart is also planning to showcase its private brands such as MarQ and SmartBuy under this partnership. Both its brands operate under various categories including electronics, home appliances/home decor, and furnishings. Earlier, Prime Minister Narendra Modi had asked the Indian firms to push for increasing domestic production and ramping up exports under Make in India and Vocal for Local initiatives.