Therefore India also faced many economic downfalls soon after the cases of Coronavirus were identified, chaos was created, and people were advised to stay in their homes to prevent the deadly microorganism’s attack.

As a safer means of shopping, people now prefer online over the offline retail store. While comparing Indian e-commerce, the retail market of around 850 billion dollars experienced a big push in 2020. More and more people are opting for an e-commerce platform due to safety and convenience. Let’s look at this subject in-depth.

Transitions in the Indian e-commerce industry in 2020

• Not limited to metro-political cities

In the initial steps of e-commerce, it was observed that the reach of e-commerce was primarily catering orders of people living in metro cities like Delhi, Mumbai, Bangalore, and other major cities. But as the Indian e-commerce was going through an evolution phase, the popularity of online shopping caught users from small towns as well. But a broader picture came into the mainstream in 2020. By a report presented by Bian & Company and Flipkart, it was observed that online shoppers in Tier-II and small towns constitute more than 50% of total online shoppers, and their order contributes to 3 out of every 5 orders for top retail market platforms.

• Double boost in online sales 

Presently, the Indian e-commerce sector shares 3.4 percent of the overall market. But the top-notch Indian companies observed a very high positive response from their consumers through online mode. People are worried about getting infected if they shop at the offline outlets and are directed to the online channel to get the same products.

According to Sanjiv Mehta – the chairman of Hindustan Unilever, the largest Indian FMCG company, many of their physical stores are still not opened, but this has not curbed their sales. Presently there is a hesitation in the crowd for offline shopping, and thus many offline outlets may remain shut for a while.

In 2017, the online grocery sales contribution was just 1%, but now in 2020, it is around 1.9%, which is almost double. Even the online sales contribution of Parle products jumped up and has doubled to 4% of the overall sales.

Apart from the necessary products, people are switching to online shopping for other types of products. This trend changed the online sales of other sectors too. The online sales of Godrej doubled to 8-10% of the overall sales.

• Swift from offline to the online retail market

As there seems to be a change in customer behavior and the growth of e-commerce favored many online businesses, the retailer tried their best to hold this momentum and capitalize it well. Many retailers started selling their goods online. Initially, they started with the necessary items, but later on, they added other products according to the market demand.

According to the experts, even the local retail has to move their store to this online channel to fairly compete with local stores present in the neighbourhood as they are also adopting digital technology to improve their sales in the lockdown period.

As per Walmart India Chief Digital Officer Chandan Khaitan, customers are sticking to online shopping even after the relaxation in the lockdown. Also, Walmart seems to observe four times more sales through online mode in 2020. LOTS Wholesale Solutions MD, Tanit Chearavanont, also affirmed that there is a change in consumer behavior, which is leading to reinforcement of new habits towards online channels of shopping. They are even focusing on online business strategy and also observing a healthy number of orders.

Launching store on an online platform- a path of great opportunities

According to the Boston Consulting Group, it is estimated that India will have 850 million online shoppers by 2025, which is a significant number. So migrating your online store to a top e-commerce platform is a wise decision. But to multiply the growth, you can take expert help for your online marketplace management. Contact Visveya today and get professional solutions to handle the e-commerce store’s operations at each phase. From inventory management to shipping orders on the timeline, everything can be managed effectively by Visveya so that you have ample time to plan the strategy for the business.

So move with the market trend to upscale your sales!

References

https://www.business-standard.com/article/economy-policy/covid-19-momentum-in-online-app-based-sales-to-continue-for-retailers-120062900038_1.html

https://economictimes.indiatimes.com/industry/cons-products/fmcg/online-sales-doubles-for-top-consumer-brands-in-india-due-to-covid-19/articleshow/76533563.cms

https://www.businesstoday.in/current/corporate/with-3-out-of-5-orders-tier-ii-smaller-towns-leads-online-sales/story/407132.html

How to launch your brand online on Myntra or Limeroad?

The first step to launch your brand on Myntra, Limeroad, or any top apparel marketplace requires registration of the vendor account. Take a look at the checklist and have a clear path for launching your online store. You may need documents like E-mail id, gender, GSTIN Number, Cancelled Cheque, Address Proof, Pan Card, Digital Signature With Company Stamp, Trademark Certificate, Authorization Letter 

After submission and verification of the documents is done by the e-commerce organization. It sounds easy, but in reality, it’s a hard nut to crack.  Many people fail to have an authorized account due to incomplete application or lack of documents. A vendor dashboard is provided through which you can add the products and get details of orders and returns.

How your brand value can be effected on the Top Marketplaces?

– Delivery time: According to a survey conducted by Dotcom Distribution, online shoppers pay more attention to the delivery time. More than 60% of people are willing to pay extra for speedy same-day delivery for special events like birthdays and anniversaries. This is why same-day delivery options are hit, though the price of the product is hiked to provide this service.

– Type of packaging: More than 65% of people believe that good packaging resembles a good brand. For many people, online delivery seems to be like a present. Opening packages make them feel like opening a gift, and everyone likes nicely wrapped gifts. The way the product is packed ensures safety while shipping them.

– Returns and refunds: This plays a crucial role in gaining the trust of the customer. Earlier, when online shopping was new in the Indian market, the significant concerns of shoppers were -return and refund policies. The return or refund process should be rapid. A return or refund request does not determine that the shopper won’t repurchase your products. But slow and rigid refund or return policy may result in losing the customer forever.

The vendor needs complete monitoring for 24*7 to cater to all types of requests like order, return, or refund. Even the vendor needs to pay attention to the product shipping and real-time location of the product. But the management of various processes simultaneously without mistake for 24 hours may be somewhat tricky. So what can be a possible solution to this problem? The answer to this can be hiring a third party expert consultant for managing the complete end to end solution,

Visveya- the complete solution

As we discussed the factors which may affect your brand value and business on top online platforms like Limeroad and Myntra, Visveya has a complete solution to tackle all the issues. But why should you hand over your store responsibilities to Visveya?

Benefits to choose Visveya

– Complete management of inventories:

 Myntra and Limeroad deals in apparel, and the stock may fluctuate according to season and trends. So sometimes you may have enough room to store your inventory. And in some months you will face a shortage of space. So rather than taking a new warehouse every time on peek-time of the sales, take the help from Visveya. It can help their clients to handle this situation. They offer inventory management services  and then you don’t have to take the headache of space regardless of the sales rate.

– Takes hold of the complete shipping process:

From packing to delivering the order to the customer, Visveya can manage the entire process. This may include many sub-processes like:

• Finding the correct box or wrapper according to the product’s size
• Adding some protection to the product by layering it with bubble wrap or other similar things
• Optimizing space to fit all the items in the box
• Securing the package with strong tape and attaching the label with all the details of the order
• Taking all the products to post office or courier services to deliver the product
• Making a report of the shipping route and tracking the exact location of the product

Visveya can manage the complete process, regardless of the volume of packages. If you try to perform these steps yourself, you may end up investing many hours to complete it, which can increase the cost.

– Save time on order-fulfillment and enhance business:

Taking care of each package and tracking its location every hour may consume a lot of energy. You may need to coordinate with so many people like the delivery organization, the staff at the warehouse, people managing vendor portal, etc. This can be troublesome, and you won’t be able to plan your marketing & sales strategy. As Visveya will be managing the complete order fulfillment process, you have ample time to plan your business strategies, and Visveya will be responsible for the delivery.You will be able to focus more on business and develop effective strategies.

– Splitting the warehouse for faster delivery:

When you manage your warehouse operations yourself, then you will possibly have your warehouse in at one single location or city. But to offer speedier delivery, you need to split your warehouse into different areas. Visveya can help with this too. With warehouse management services, Visveya takes care of the location and inventory. It splits the inventory into different warehouses while balancing the feasibility.

– Hiring expert team with affordability:

Having expertise in one skill can be fruitful or that person. Similarly, Visveya is a team of experts dealing with complete order fulfillment and reverse logistics processes for e-commerce. They even know how to get things done under a tight budget. So vendors can take benefits from their skills and experience to improve their services for online shoppers and even save a lot of time and money.

These were a few ways through which you can 3X your sales with the help of Visveya on Myntra and Limeroad. So, contact them to get expert advice for your e-commerce business & make the best out of it.

References:

https://brandequity.economictimes.indiatimes.com/news/business-of-brands/indias-online-fashion-market-to-grow-3-5x-from-4-billion-to-14-billion-by-2020/63313245

https://dsim.in/blog/2016/02/17/case-study-what-limeroad-takes-to-build-indias-largest-discovery-and-managed-marketplace-for-style/

https://www.mhlnews.com/transportation-distribution/article/22051729/delivery-time-top-priority-for-online-shoppers