Rise of e-Commerce Startup in India, risky yet profitable
India is among the largest consumer market in the world. Past couple of years has contributed in high book of ecommerce industry. A few among them like Flipkart and Snapdeal are one of the most successful startups. But with this there is also a rise of a risk contributed by the competitive advantage of big establishment. Ecommerce startups are not much into the news now-a-days. One factor is low interest of investors in funding. There are many challenges other than establishing an ideal ecommerce module that can attract findings.
Standard set by other popular ecommerce startup’s are to some extent hard to beat. Without having huge pool of constant flowing funds, it is hard for any new ecommerce startup to survive in long run, unless there is some unique idea applied. Strategy matters the most here. Customer satisfaction is the second important factor that creates trust. And if this fails, there are less chances to gain a good amount of market. India is a broad market with too many niches still uncovered. For ecommerce it is necessary to embark a new strategy that can drive more consumers for online purchase. Today we also see successful ecommerce startup that is targeting a single category of products. Like Fashion, Electronics, Toys, Jewellery, etc.
Ecommerce also hampers if current popular retailers do not want to go online. Those who are happy with their current market cover and prefer to play on the safer side. Such association would powerf-up an ecommerce platform to cover the entire country. Popular ecommerce sites like Flipkart, delivery exceptionally good service, powerful after sales policy and active discounts to the buyers. It has been able to establish itself a profitable buying hub. Today ecommerce is driven by technology not just by idea. A good website matters a lot, and to keep the consumer engage a constant pitching of new offers and discount generate curiosity. These things are less possible with retailers. A good business model may be risky, but can bring great profits.