E-commerce- as the madness is today, is a late 2010 phenomenon with B2C companies coming up with innovative ways to use internet in order to enhance sell. Well, which of us have actually not contributed in helping sellers make money through their
...
E-commerce- as the madness is today, is a late 2010 phenomenon with B2C companies coming up with innovative ways to use internet in order to enhance sell. Well, which of us have actually not contributed in helping sellers make money through their e-commerce initiatives! No matter how badly you like to purchase your product from stores- after feeling and trying them, we all have sometime or the other- shopped online; be it an earphone or a shoe or a memory stick. E-commerce for 2017 is like sauce to fries, you need to participate in the bandwagon cart no matter what!
However, the death knell is ringing. If you have an e-commerce portal- small, mid-sized or big, I say, tighten your buckles and bring the edge of innovation to the product at hand otherwise, you are not far away from failing with a mega thud.
With an e-commerce venture popping out of every nook and corner of the lane, be it in Africa or India; there's thick competition. Even if your product is riding the storm of superlative innovation, chances are, it will get lost in the crowd unless you take the approach of a 360 degree market penetration.
While every brand is trying to position itself as unique and foremost in the category, just innovation is not enough. Unless there is a team of super-humans driving the show, with 247 focus on the target and the agenda, there is a mega scope of not getting to stand out and gradually disappear into oblivion.
- Insensitivity of consumers
If you are a B2C e-commerce initiative, you cannot deny the fact that your customers are your backbone,But what do you do when they are extremely in-genuine and insensitive? An issue that all e-commerce companies are trying to address. Even sellers know these days how buyers in Flipkart are massively irresponsible and the return rate is way high when sold from that portal. While Amazon boasts of a more premium audience, other mid-level players are equally plagued with buyers who are whimsical and moody(let's say sadistic and often times fun loving?). This results in huge loss for the e-
commerce portal at hand and you must not be surprised when you hear return rate for these portals standing at a staggering 50% almost, as of today.
No matter how you try to stay on top of the game, as an e-commerce manager, you must have already understood that there is no end in this. It is a vicious loop where you bring one latest innovation and it is time for the other. Therefore, in no matter of time even a team comes to exhaustion and there comes a point of complete stagnancy.
Read More
