In India Mumbaikars seem to prefer online shopping, these days; in spite of huge presence of popular road-side shopping centres the trend to shop online seems to be speeding up in Mumbai. A recent study conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) revealed that about 65 percent of Mumbai residents shop online. The online retail market, currently stands at Rs 2,000 crore and is growing at a steady annual rate of 35 percent. It claims that the online retail industry in India is likely to be worth Rs 7,000 crore by 2015.
Now that trend is well established!!! Question is? What are the success mantras? According Raju Moza Principal Consultant, Roch Consulting “It is imperative for the existing eCom ventures to deliver. If they fail to deliver what they envisaged, the bubble will burst; the quality of the deals in this sphere are appealing, some are meant to mislead, in some cases merchants treats Deal Holder second citizen customer, so and so fourth …So these bunch of sites can be enabler in eCommerce or DISABle the whole eco system…lets c which way the wind blows…”
My experience in this sphere as strategist and having enabled some of exciting ecommerce projects along with our team at eQNova – One can build better product, with great designs: powering it with high voltage promotion campaign!!! Spend millions on Display ads- get the traffic on the site and even convert the traffic into customs. Though it is imperative but not the success mantra!!!!
Success mantra is, “Second action after first buy!!!!!”
Is your customer going to write on complaint forums after first buy or becomes your fans on social media, write +ve tweets, even testimonials? Earlier decades bad reputation took years to spreads, today’s it is minutes away… So success mantra means –
1. Quality of the product and that WOW factor associated with it is!!
2. After sales support!!!
Trust me- even in Digital era QUALITY and AFTER SALES SUPPORT should be in your central circle of Digital Retail Venture priorities.
We at eQNova have simply refused to work with builder wanting to venture in to ecommerce domain. He had plans to spend Cores of rupees on advertising on hoarding; ideas and money for land-lock marketing campaigns. But had no clues about the problem his service was intended to solve. It was quite simple of him, idea was working in US; he will plunge in, sell his company after some time and make big money. New projects are very important to us, and working with non- serious players in not our philosophy.
But having burnt our hands initially working with such non- serious customers, we had not difficulty in saying no to him and have adopted it as principal philosophy … No matter what money is on the table we will not work with non serious initiatives. In fact, we are proud to work with SME sector focused entrepreneurs. Recently we have chosen to work with the person who is the master of his trade currently struggling with finances but very honest with his ideas / intent and very passionate person. As eCommerce enabler company eQNova should have no problem in giving wings to his dreams.
In fact I consider that our litmus test of our ability, working on these types of challenges gives me great satisfaction. So part of the assignment is to improvised his concept and bring it to level and help him interact with VC’s using services of our ecosystem.
Let us see which way wind blows….
