The ever evolving world of technology is bringing newer possibilities closer to reality every minute. The globe literally is shrinking rapidly with ready availability of a vast pool of options for the target audiences and that too, without setting foot on the shop floor. What once seemed to be an occasion (Read: an outdoor shopping experiences with loved ones) has now been substituted by online discounts offered by e-commerce majors.
A small vendor, with the right approach and correctly equipped with technology has the potential to exponentially increase his outreach to the world. How is this possible? Is there really such a thing called magic? We’ll try here to decode what the world calls the bubble of E-commerce.
The process flow is simple and analogous to conventional practices but, what typically happens in this scenario is that all efforts are transferred to third parties and ideally, a convenience output is levied which in turn ensures viability for a service provider who probably wants to promote an individual to minimize any effort. So, instead of you going down to a store, making a selection and returning back, you are presented with an online catalogue with a wide array of options probably encouraging you to buy more than you’d expected and the mobility output here, is substituted by a logistics service provider.
Well, that’s a consumer angle; let’s look at it from the perspective of a seller instead. The total empowerment of the seller who can now reach out to prospects that would never in a lifetime walk into his shop is nothing less than a blessing in disguise. How millions of small businesses are benefitting from an exposure to internet commerce is a case study which will teach us a lot of valuable learnings in the due course of time. In this era of digitization, what we’ve known so far is that the technical prowess alone doesn’t guarantee a successful online business. It probably has to be fused with the right flavours of target marketing, tailor-made offers and so much more.
The move has drawn the attention of several large conglomerates to engage directly with the end users and that too through effective channelizing of their current manpower who assist the organization to scale up the current assets and business output. Today, thanks to the revolutionary bubble, many enterprises, big and small are being empowered to take big steps into the world of digitization thus encouraging conventionally limited businesses to grow.
There, however, remain a lot of challenges in maintaining and managing such businesses; manpower allocation, instant scalability, running overheads, third party alliances, etc. are few of the many management related challenges that businesses should give due consideration to before setting a big foot in this industry. A controlled growth trajectory, backed by validated milestones is at the same time, definitely not an impossible feat.
Pins to Planes are claimed to be sold online and niche marketplaces, opportunities with drop-shipping and custom offerings are now leading online businesses challenging the online Status-quo in this evident David vs. Goliath battle. This form of business is in many ways, asset-light, inventory-light, pocket friendly and surprisingly, with an immense business potential to complement your storefront.
The takeaway however is, the viability and the extended outreach of digital marketplaces and its vast potential for exponential expansion. Explore the possibility of setting up your online store with Lynkersoft’s custom marketplace solutions portfolio and tap your target market on the click of a button.