Online shopping is a term we all are well versed with, and if not, then the last year has definitely proven its supremacy over physical shops. For me, online shopping has always been an easy and accessible route. In the last couple of years, as much as I enjoyed spending money on brands, I have been equally fascinated with the emergence of small-scale businesses. Consumers like me, are quite active on social media and have been noticing a boom in the industry when it comes to small-scale businesses. These businesses are an important part of any developing nation and contribute well to the economy too.
The giants like Amazon, Flipkart, and Myntra, on one hand, are bringing high-end brands to our doorstep while on the other hand, giving much-needed exposure to small-scale businesses too. The growth of e-commerce sites has changed the way customers shop by providing more personal touch to their whole experience. Direct-to-consumer (DTC) companies are also investing in online communities to humanize their brands, increase customer retention, and overcome skyrocketing advertising costs. (Source)
The future of e-commerce is enormous in India due to easy access to the internet for the common man. Reformed government policies and better investments have also given a boost to this Industry. In this article, we will discuss how online shopping is changing the future of small-scale businesses.
Efficient and accessible
Gone are the days when we had to plan a whole day for the shopping and find our way amidst the crowd to look for the best options to buy from. Online shopping has emerged as a winner during the pandemic and made our life easier. The small-scale businesses got the opportunity to provide for our needs via e-commerce sites. The whole process was made possible by being easily accessible as well as equally efficient. The surge and usage of high-speed internet services have aided it too.
Bigger audience and better exposure
Sizeable e-commerce websites use trained business professionals for market research analysis. These professionals help them by using multiple tools to process customer data and find insights. More than half of Instagram users utilize the platform to find products. All these practices help small-scale businesses to reach a broader spectrum of audiences/customers. Small-scale businesses are investing more in brand building, which in return helps in increasing customer lifetime value. Not only that, but it also helps in boosting conversion rates in the short term.
Direct to the customer, helps in building brand image
Customers’ attention and their time are valuable assets. With no middleman, the small-scale businesses are reaching the customers directly with the help of these e-commerce sites. Improvements in technology and the progress of available marketplaces have made it easier than ever to buy and sell online. The number of people using social media keeps increasing multi folds each minute. Businesses who understand this process use this to market their brand well. Small scale businesses perform better when it comes to personal experience and it gives a boost to the customer’s trust when they team up with large-scale eCommerce websites.
Timely delivery and easy return policies
The future of online shopping relies heavily on tech-savvy professionals who can create a personalized and engaging virtual shopping experience for consumers. Online shopping has made it possible for a small-scale business to deliver their products timely. Returns are not a hassle too, all this helps the brand to build trust with the customers. Ecommerce companies are constantly refining the shopping experience for their customers.
We can not deny the fact that the future of online shopping depends on capturing patterns of shopping behavior. The e-commerce shopping experience is more personal, accessible, and data-driven than ever before. The future of small-scale businesses is undoubtedly going to be full of encouraging changes and innovations for both businesses and their consumers. Whether you’re a well-established small-scale business or a new one entering the market, it is imperative to keep the finger on the pulse when it comes to changes in the e-commerce landscape.
Written as part of Blogchatter’s campaign #ECommerceBuildsEconomy
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