7 Business Ideas For E-commerce Sellers After The Ban Of Chinese E-commerce Platforms In India
The banning of Chinese eCommerce platforms can be the ultimate booming period for India. How? Well, the government has been curbing all kinds of Chinese imports, but that doesn’t essentially mean that the public will stop demanding these products. As per the eCommerce policy, today it is mandatory to display where the products line of origin belongs. The sole aim now is to cut out all sorts of Chinese products from the Indian market.
As per statistical data, it was found that the Chinese had a surplus of $47 billion with India in the fiscal year that ended on 31st March 2020.
The one and the only remedy to boom the revenue earned by the eCommerce sellers is to develop parallel substitute commodities. But the big question is, How exactly is it possible? And, what strategies should the eCommerce sector undertake to attain the same? Read along to find out ‘How?’ by joining me in the discussion below,
1. Rapid Industrialization:
This is absolutely necessary to replace all the Chinese commodities with domestic brands. New industries with advanced technologies need to be set up. Rapid industrialization also brings together a lot of other benefits. For instance, it will promote new and better employment opportunities for the masses.
If you keep offering the customers with the same type of products they will eventually get bored and look for new brands. The key to keeping customers constantly satisfied is to invest in innovation and offer them unique products so that they keep coming back for more. Create your exceptional brand identification and promote new innovative products that serve the purpose of each of your customers. The goal of your products is to outdo the availability of similar products in the market.
This is one of the most affluent ways of boosting one’s sales. The better your customer relations are the more profit-earning you will attract. Being an eCommerce merchant it should be your sole responsibility to understand your customer grievances and understand what they actually want. Appreciate the ways in which one comes to do business with you.
4. Promotion/ Advertisement & Marketing:
How would you reach out to your targeted audience if you do not indulge in promotional activities? To make your brand popular and show it off as a parallel substitute to those Chinese products you need to stand out. Advertisement, promotional activities, and strategic marketing are definite ways to boost your eCommerce sales. Create high-quality content and reach out to your customers to capture their attention.
5. Cost Management:
Chinese products carried a very low price. Similarly, your business needs to maintain the same price quotient. Why? Because customers are in search of commodities that carry the same price. They are not ready to spend more on similar parallel products. Reducing the cost of production and cutting out all sorts of unnecessary costs is what the current situation demands.
6. Manufacturing Credible Products:
Credibility is one of the main factors that keep your customers hooked at your business. This generates trust and the customers feel comfortable and confident enough to use your products and services. Using techniques such as advertisements can be enhanced to improve the credibility of your sales. Other procedures include online marketing and using customer testimonials.
7. Learn About Your Competitors:
Considering the present situation, a lot of domestic as well as international brands are trying to replace the Chinese products. Detailed knowledge of what your competitors are up to will help benefit you. Adopt advanced technologies and dig into innovation so that your brand can stand out from the rest.
Once you have taken into consideration the above-mentioned points make sure you also provide the customers with flexible and secure modes of payment. You can even earn a good amount of revenue by securing a web portal that is exclusively mobile friendly. Why? Because mobile shopping has been on the trend and is still high on the move.
WEB CONTENT WRITER,
Hi! This is Shreebonti Neogi, an Economics graduate from Calcutta University. I am a voracious reader, an ardent food lover, and a shopaholic online shopper. I have fueled my passion for writing by writing in school magazines and college prospectuses and luckily got the opportunity to work as a web content writer professionally at CyberToss Pvt. Ltd. I frequently share my experiences and interests by writing blogs and articles.