What and How??…. e-commerce in India.

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In this article we are delivering knowledge about e-commerce.

Some of the aspects of Indian e-commerce that are unique to India (and potentially to other developing countries) are:
1.Cash on Delivery as a preferred payment method. India has a vibrant cash economy as a result of which 80% of Indian e-commerce tends to be Cash On Delivery.
2.Direct Imports constitute a large component of online sales. Demand for international consumer products (including long-tail) is growing much faster than in-country supply from authorized distributors and e-commerce offerings.

Lets start with what is it??

E-commerce is commonly known as Electronic Marketing.

-It consist of buying and selling goods and services over an electronic systems Such as the internet and other computer networks.

-E-commerce is the purchasing, selling and exchanging goods and services over computer networks (internet) through which transaction or terms of sale are performed Electronically.

What precautions should I take?

Design should focus on

-User experience – familiar needs and mental models

-User expectations

-User ease and comfort

User-centered design templates can help

-Simplicity

-User control

-Consistent navigation

-Search

-Shopping carts

-Personalization

How your home-page must look?

Emphasize what your site offers that’s of value to users and how your services differ from those of key competitors

Use a liquid layout that lets users adjust the homepage size

Use color to distinguish visited and unvisited links

Use graphics to show real content, not just to decorate your homepage

Include a tag line that explicitly summarizes what the site or company does

Make it easy to access anything recently featured on your homepage

Include a short site description in the window title

Don’t use a heading to label the search area; instead use a “Search” button

With stock quotes, give the percentage of change, not just the points gained lost

Don’t include an active link to the homepage on the homepage
 
 
 

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General Trend of E-Commerce

 

Few Important Facts:

Travel was the first to go online

Brands are moving to creating their own online stores –
Nokiashop, Puma, Reebok, Samsung, VIP, Fastrack, etc

Fashion is No.1 Category –
Top 3 categories all belong to fashion with 130 online stores [big & small] selling some fashion products. Apart from this 91 stores deal exclusively in fashion

Rise of exclusive online labels –
Zovi, Shersingh

Lingerie is Big –
Over 39 stores sell innerwear & lingerie

Offline retailers are trying to go online –
Futurebazaar, Cromaretail, The Mobile Store, Univercell

Media Publishing Biggies are venturing into e-commerce –
Homeshop18. indiatimes.com, BagitToday, StarCJ

E-commerce Platforms are gaining traction –
e.g. Buildabazaar, MartJack

Popular Deal Sites are gravitating to e-tailing –
e.g. KyaZoonga, snapdeal, koovs, seventyMM

Mobile commerce is just about starting –
e.g. Indian Rlys, banking transactions

Requirements to start a E-Commerce.

For a non-Indian entity, pre-requisites in terms of legal issues are almost the same with all the
payment gateways.

Concerned issues can be described as following:

1. The concerned company needs to be registered in India as a ‘Ltd.’ or a business entity.
2. A current account in the companies needs to be opened with any of the nationalized and international bank operating in India
3. The company should have successfully completed one year of operations in India (for 2nd party payment gateway or have to setup a Fixed Deposit with the bank)
4. Office of the company should bear an Indian address with business activity

Following is the check list of items which will be required for the registration and setup of the
payment gateways –

1. Company profile
2. Date of establishment in India
3. Legal Name of the company
4. DBA name (name which will appear in the credit card statement)
5. Product & Services to be offered on the gateway
6. Website details & URL to be integrated
7. Process flow of the transaction
8. Minimum, average and maximum ticket size
9. Expected Payment Gateway volume
10. Indian Bank account details (Current Account)
11. International Transaction required (YES/NO)
12. Currency required (Transaction currency and Settlement Currency )
13. Existing Payment Gateway Relationship (if any)
14. Office Address
15. Scan copy of 2 yrs financials (P/L and balance sheet)

For Comparison of various payment gateways you can visit :http://techaloo.com/comparison-of-payment-gateways-in-india/

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

One Comment

  1. Hi im required payment gateway

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