Get to Know About the Steps of the GST Registration Process
29 Jul, 2024
By Online Legal India
Published On 03 Mar 2023
Updated On 01 Jan 2025
Category Company Registration
With the revolution of smartphones and low-cost internet services, everybody spends more time online. From startups to well-grown companies are selling their products online. People are now searching for service assistance online. Hence the demand for e-commerce websites has been increasing day by day. Besides, online purchasing has increased many times during the COVID-19 period. Thus, the requirement for online presence through an e-commerce website is highly observed. Besides, the Importance of E-Commerce in India is high to reach potential customers. It also helps you get the customers on demand in any location in India.
This article helps you learn how importance of ecommerce business in India, and how it is increasing day by day.
E-commerce, or electronic commerce, is also known as online shopping services. Through this service, any customer can buy products or services online using e-commerce platforms. So, e-commerce is the shopping platform where a customer can buy or sell. Today, you can buy anything from a pin to costly jewelry or a smartphone to a large refrigerator through online platforms. The supply chain is also prepared for online platforms.
By using a web browser or mobile application, these platforms run. Irrespective of the devices, these e-commerce platforms will run. With the technological enhancement, the processes have become fast and flawless. E-commerce platforms have the facility to pay online and accept pay on delivery. So, the payment process is also easy today.
Let’s Explain Shortly:
In a B2C model, businesses sell products or services directly to individual consumers. It is one of the most common services that you may find on the web. For example, Amazon, and Flipkart, sell products to customers. Usually, business owners sell products to the customers.
B2B involves transactions between businesses, where a company sells goods or services to another company. It might be raw material or produced material for use in the company itself or for selling to the customers. Examples include raw materials, software for companies, or any product that will be used for reselling to consumers afterward. Indiamart, Alibaba, etc. are examples.
In B2G businesses, the business entrepreneur provides goods or services to the government. This deal may range from any type of services and goods or products that the government needs. This also includes technological support as well. The process is highly through the bidding system. There are a lot of examples where goods suppliers and service providers sell their goods and services to the government.
The B2B2C model includes both B2B with B2C through e-commerce services. For example, a manufacturer sells their products to the grocery shop as well as to the customers directly. At the same time, grocery shops may also sell the same goods or products to consumers. This is called B2B2C. It is a hybrid model e-commerce business.
C2B is also a traditional business model, where consumers offer goods or services to the business. The person as the crop producer sells their crops to the factory to produce different types of food items. On the other hand, freelance platforms supply services from freelancers to business people. 99designs, Upwork, etc. are examples.
Consumer-to-consumer (C2C) is an e-commerce business model where individuals or consumers sell their products to another consumer by using an e-commerce platform. Anybody can also sell goods through eBay, amazon, Olx, etc.
Today, modern business can easily be expanded and make a brand reputed in the competitive world through ecommerce platforms. You can purchase and sell through this platforms for business purposes as well. Let’s learn some significant importance of ecommerce business in India.
Some aspects explaining the significance of e-commerce include the following:
E-commerce does not have any requirement to display all of your products in a physical location. So, the cost of the rent of the stores, working people, electric cost, decoration and maintenance cost. Here, only the delivery cost is involved. So, the cost of e-commerce platforms is very high and they can sell goods and products at the lowest ever cost with higher profit.
If your business follows all international criteria, you can run a business internationally. You can sell your product or services internationally sitting in your local place, even sitting in your comfy room. Just you have to keep the supply chain in an arranged format. So, the Importance of E-Commerce is innumerable, and the people of India are gradually involved in creating e-commerce platforms. They are also selling their goods via Amazon or similar other platforms where businesses or individuals can sell goods internationally.
You may be confused about the linguistic barrier. For information, you must learn that most of the country can handle any web or application platform through the English language as it is an international language. Besides, web app developers and mobile app developers can easily integrate local languages as per the requirement. So, there is no fear of losing your business anywhere in the world.
The next barrier is currency. However, it is not a barrier at all. Through the e-commerce payment gateway, you can accept the local currency which you have to convert into your local currency or the gateway will convert it automatically into Indian currency. So, there is no fear about the currency barrier and obligations.
Compared to opening a brick-and-mortar store, starting an internet business might result in much-reduced startup costs. The owner of an online business does not have to account for the expensive costs of shop rental, hiring salespeople, decoration, security, or electric costs to win over customers.
E-commerce platforms remain open around the clock. So, customers can watch the product or ask for service any time they require. The customer base may also expand from the native country to the international market. Besides, you can easily include or exclude products from the online marketplace. When you have a local store, you can sell your goods to people within a few kilometers radius, whereas the online market is open to the entire people of the nation. So, you can easily expand your business to the customers.
When you have an e-commerce business in India, you can target some specific location and customer base for promoting your products through e-commerce services. By implementing the specific strategy of digital marketing on your e-commerce website, you can easily reach the target audience of the target location where you can reach. So, it is the best way to make your local physical store expand across the nation or globe.
Every physical store has a limited opening and closing time with weekly off. However, the e-commerce platform can remain open around the clock. There are a lot of customers who do not have time to visit physical stores at the regular time as they are busy with their professional work. They can visit your store when they remain free, taking tea in the evening, or before going to bed at night or during the break from the office. They can also purchase regardless of where they are present at the point of placing an order. So, your business hours will be 24/7 and the sales will increase many times.
If you own an online store or e-commerce store, you can add multiple types of products with a lot of variety. You can add multiple products in the online store that yet not present in your collection but have collaboration with the dealer or supplier. When a customer places an order, you can immediately collect it and send it to the customer’s address. So, vast investment is not a mandatory factor for increasing your business. Today, e-commerce websites have become faster than ever through local store delivery. Some e-commerce websites can deliver products in 15 minutes. The supply chain is arranged likewise. People want faster delivery even if the price is a bit higher. As per your planning, you can enhance your profit.
Online sellers may hover from one shopping site to another shopping site. You can attract your customers through greater visibility, presentation, display angle, zoom-in facility, clear description of products or services, website UI (User Interface) UX (user experience) enhancement, and so on. Then, digital marketing services, social media marketing, social sharing, group participation, and various other services can easily grow your sales, shopping areas, and so on. So, credit goes to the e-commerce website.
As said earlier, online e-commerce stores do not require a higher investment. According to the demands of the customers, an e-commerce platform can easily enlist the goods that have higher requirements in the online marketplace. You will get competitive prices to sell and higher sales. So, the business risks will also be reduced from your brain.
With the increase of thousands of frauds for online cheating by the name of online shopping, customers now look for a trustworthy shopping site. So, e-commerce sites can make the application or web portal more trustworthy by implementing SSL certificates, proper addresses, communication details, mobile or landline numbers, customer care support, and so on. If they do not feel the site is authentic, they will not purchase from you, swipe cards, or even visit your website. So, you can easily maintain the transparency of the site and increase sales. Besides, you can get certified by FSSAI, ISO, GST certification, and other quality and authenticity proofing certifications to enhance your credibility. Hence, you can easily increase the transparency of the business online and enhance the business.
By using SEO service, PPC service, social media marketing service, and other digital marketing tactics, you can increase your business faster than ever. You can also reach the top of the first page of SERP (Search Engine Results Page). In this way, you can reach the target audience irrespective of the location and demography, you can sell your product or service and earn money.
Conclusion
Therefore, by using an ecommerce platform you can earn a higher amount of money without taking fewer risks or no risk. As the sales will increase, your profit will increase. As an individual, you can perform your regular duties and run an online store to sell online goods or services. Your brand will be reputed across the nation when your product or service quality will be great. Hence, there is great potential to increase your business through e-commerce platforms. As it is a fast-growing sector across the globe, you can start it today. So, in this era, the importance of E-Commerce platforms is numerous. If you require company incorporation, GST registration, FSSAI registration, GST registries, and related legal suggestions, feel free to contact Online Legal India.
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