E-Commerce Franchise Opportunities in India
Advertisements and promotions are an integral part of any business model, you need to indulge in a certain amount of publicity to help your establishment or operation pick up the pace and occupy a seat among the various other competitors.
The E-Commerce websites as well as teleshopping channels, take this logic another step ahead, they not only advertise their products, but they also sell them via modes of mass communication and media. We have all come across Tele-Shopping channels and their advertisements, which usually involve showcasing various aspects of the product and the irresistible offers pitched along with them. These offers can be anything from massive price reductions as compared to the regular retailer, or an additional product being sold as a combo deal at an affordable rate.
Television and radio advertisements of such products attract a lot of attention, people tend to invest and buy the items even if it isn't a dire necessity, but just because it is being pitched at an unbelievable rate or comes with an offer you won't get anywhere else. TV channels such as the homeshop18 franchise and naaptol showcase and sell unique items that are not available widely in shops, they also make such compelling pitches, that the viewer cannot resist.
Market size and economics:
The Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017 and is currently growing at a CAGR of 53% or more. This up-trend is mostly credited to the increasing use of the internet and smartphones, along with conventional modes of e-commerce like TV and radio as mentioned already. The fast-paced digital transformation in the country is also expected to aid in the thrust of this market from 445.96 million in the year 2017 to a staggering 829 million by 2021. E-commerce start-ups in India received US$ 786.87 million funding in the first half of 2018.
In the current year of 2018, electronics is currently the biggest contributor to online retail sales in India with a share of 48 per cent, followed closely by clothing and apparel at 29 per cent. The Indian e-commerce industry is on an upward growth trajectory and will surely surpass the same of the US to become the second largest e-commerce market in the world by 2034. Technology enabled innovations like digital payments, hyper-local logistics, analytics-driven customer engagement and digital advertisements will likely support the growth in the sector.
All these numbers and facts showing an assured success is more reason for anyone to join or start off with their own e-commerce operation and hence soak up in the advantages offered by this sector.
To run a successful online shopping franchise in India you would have to follow a few steps. For starters, you will need to acquire a domain name for your website, and get the website up and running. You could even get one of your own online shopping apps. After selecting the right business model of your choice among a sole proprietor, Partnership (if you have a business partner), LLC or Corporation, you will need to get yourself approved and licensed by the government and other concerned authorities. A good and efficient delivery option must be sorted, by either tagging along with a courier service, or by setting up your own delivery and logistics system. Lastly, make sure your business stays compliant, you will need to constantly supervise and improvise to stay ahead of the competition.
If you are excited to start off on your very own E-commerce business in India, visit the FranchiseBazar website for all the details and help you need to make this happen. Choose among the pre-existing franchises you could join, or get your franchise enlisted for further growth.
Technology is evolving fast, and it is only apt for businesses to evolve along with it! Get franchising!
Written By Kiran James
Written By Kiran James ...
Written by Kiran James ...