What is Online Selling?
Online selling also known as E-commerce, is the process of selling goods or services to the customer directly over the internet using a web browser.
With the world moving towards digitalization in every form, online selling is becoming extremely popular. You may currently own a physical store or a shop that overseas all your business operations and distribution to your customers. However, online selling is a brilliant way to reach to larger population and increase your profit margins. Following below are some of the advantages.
Advantages of Online Business:
- Lower cost – The cost of setting up an online business can be much lower than selling it from the store.
- No geographic barrier – The business can be operated from anywhere and everwhere in the world without having to worry about the geographic barriers. You can easily have an access to your e-mails, orders just from your phone through internet.
- Less time intensive – It takes comparatively less time to set up a business online because the customers ordering and making the payments would be done through an online system. Therefore, it gives you more time to work on your product design and decide what to sell and what not to sell.
- Larger scale – Online business helps you to reach to larger number of people and sell larger variety of products. The orders that are processed help you in knowing which product is selling faster. Therefore, this will allow you to grow your business in terms of sales, customer base and profits.
- No opening time restrictions – As online business is not time based, the customers around the world can have a look at your products any time of the day and purchase at any time. You can also opt for special online offers and marketing initiatives to push your products to larger audiences.
- More measurable – E-commerce websites are extremely measurable and trackable to know if your products are doing well in the market. It can be done through tools like Google analytics. Also, the e-commerce advertising costs much lower than other form of advertisings.
There are different functions involved under online selling. In this blog we would be addressing the function of On-boarding.
Any brand that wishes to sells its products on various Marketplaces (online channels / portals) has to first register on them, which is called on-boarding. It has several steps in it.
- The first step requires the brand to submit the KYC documents. Following below are the documents.
- GST certificate
- Pan Card (Company and owner)
- Company cancel Cheque
- Address Proof (Company and Warehouse)
- Signature of authorized person with company stamp on plain background for online invoice purpose.
2. After the documents are collected and approved, only then the account is opened on the Marketplaces. Mentioned below are a few marketplaces:
- Amazon
- Flipkart
- Snapdeal
- Myntra
- TatacliQ
- Ajio
- Koovs
3. Once the account is opened, the products need to be uploaded so that the customers can see those. And voila, you are ready to reach higher sales and higher profit margins. It is a simple process, all you need to do is get your products online through on-boarding and sell it on various platforms.
Fashion Biz Talk 