It’s the season of festivities as the world welcomes autumn with diverse celebrations. When the Americans celebrated Halloween by dressing up as witches and monsters, Indians put up a display of figurines and dolls at home for Navarathri. With Diwali just around the corner, there is no tuning down of the festive spirit.
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The biggest winners of this festive season are the E-commerce firms. Since COVID-19 has impacted the sense of normalcy for everyone, customers are increasingly recognizing the significance of comfort shopping within closed doors. Let’s look at the trend in India. According to the Business Insider, key players like Amazon, Flipkart, Myntra, and Snapdeal together sold products worth $3.1 billion. Further, they have reached this enormous sum within 5 days.
This growth trajectory is all set to advance as today’s consumers are a beast of a different breed. If you are an entrepreneur, this is the best time to get into e-commerce business. The best ecommerce clone script is just the solution you need.
Let me point out the 5 key takeaways from the great festival sale.
1. Trust Your Customers
You must be surprised to know that Amazon has infused Rs. 600 crores into the market in the form of EMIs and offers. Since most customers come from Tier-2 and Tier-3 cities, this strategy has worked wonders in gaining a strong foothold in the market.
The key takeaway from this strategy is to trust your customers. This is a 2-way street. You can earn customer loyalty by bequeathing your trust on them first. If you are willing to take calculated risks and invest accordingly, you will be rewarded with big ROI.
2. Provide Excellent Customer Service
Communication is key for any business to succeed. Especially in e-commerce, customer engagement plays a vital role in conversion. Engaged and loyal customers return to you often thereby contributing to the business growth.
One of the most effective ways the aforementioned firms achieved this was by implementing loyalty programs and marketing automation. Customers were awarded reward points for all their purchases based on the product price. Also, the return and exchange program was very efficient.
If the customers feel like they are being listened to, you will gain valuable insights and a loyal customer base.
3. Promotion Pays
You must have heard of the ‘Great Festival Sale’ irrespective of your inclination towards it. It was promoted big in every medium possible. We have to agree it paid off big too. The planned promotion enables you to reach your target audience.
The significant part of such a promotion strategy is rolling out attractive offers. Flash sales, promo codes, loyalty programs, brand privilege, etc, lure consumers to your site and make them want more.
Don’t shy away from promoting your brand, site, or product. The more informative your promotion, the more persuasive it will be.
4. Think Glocal
Yes, you read that right. ‘Glocal’ is the concept of ‘Think Global and Act Local’. Though Amazon is a US based company, it’s ground-breaking sale was based on an Indian festival. Understanding the culture and customs of the demographic in which you operate is key to prolonged success.
Leveraging logistics on a massive scale and balancing it with customized local offerings is a strategy that always pays divident. In simple terms, putting customers first is the best way to move forward.
5. Reach Out to Small Business
One interesting aspect of the sale is lots of Small & Medium Businesses (SMBs) were able to rebuild and accelerate their sales. Customers across the country had access to shop for unique products from numerous sellers.
Now more than ever, SMBs are showing great interest in joining e-commerce platforms and reaching a wide range of customers. Providing such a platform for them would be a win-win for entrepreneurs.
Conclusion:
Now that you have gained valuable insights on the success story of a great festival sale, it’s time to explore your options. You can gain a winning edge in the e-commerce business by partnering up with the best multi-vendor clone script in the market.
Today’s customer is ready for the enhanced e-commerce experience, the question is are entrepreneurs ready for him?
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https://www.trioangle.com/fancy-clone/
The extremely competitive business world that makes it essential for new businesses to implement and incorporate new ways to do business so that they can capture customers faster.
In the article readers also are provided with steps that non-tech entrepreneurs should follow so that their business can do exceptionally well.
When it comes to the nitty, gritty details of the backend, non-technical startup entrepreneurs underestimate the importance of learning to code far too often.
Of course, they’re experts in non-technical areas like finance or marketing, and as it’s gotten them this far, they might not have considered the value in knowing some essential programming fundamentals.
As such, they often entrust software development to a CTO, hire freelancers, or an agency.However, the founder’s lack of technical expertise can sometimes cause inefficiencies when it comes to decisions about product architecture or design.Simply having a basic understanding of programming fundamentals and how the web works can be helpful in all stages of your business, clarifying many things that might have seemed mysterious before.Turning that basic understanding into high-level knowledge does even more good.
Specifically — to name a few things — it will allow you to map the product specs, create mockups and wireframes, estimate the resources needed to start developing an MVP , understand what expertise is required for the project, and which technologies will be the most practical to use.Now, you don’t need to become an expert in software development, but having a general understanding of what happens behind the scenes when you browse the website or a mobile app is a must if you are up to building a truly successful tech startup.
Turning ideas into realityIf you’re planning to create a revolutionary platform that will disrupt the entirety of the digital assets market, awesome!
Go you!But… that might be difficult if you have just a basic set of coding skills.
How do you raise funds for your startup business?Investors look for many things before funding a brand new venture.
How strong the business model, expansion, and expenditure plans are and how investors will receive their return matter the most to attract funds.Many things are intimidating young entrepreneurs in raising finance for their startups.
We have explained the 5 most common funding trials in the below post to help entrepreneurs find adequate funding for their new venture.
You do not need to own land in order to visit and enjoy Decentraland, however, if you decide you would like to invest and build in Decentraland, you should know the following information…Each land parcel is a non-fungible token (NFT, ERC 721) which means it is unique and cannot be forged or duplicated, the same as physical land in real life.Anybody can buy, sell or rent land at any time, peer-to-peer on the official Decentraland Marketplace, or via Opensea.
All transactions are stored on the Ethereum blockchain as true proof of ownership, so when you buy and own that land token, you officially and unquestionably own that piece of land.
Every Decentraland land token has unique co-ordinates which represent a specific location on the Decentraland map.It is a trending business models in NFT marketplace to get started!Sellbitbuy - NFT Marketplace Development Company, is happy to offer a endless support to the NFT business freaks who wish to set a strong mark in the NFT field.
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Our advanced Decentraland clone script will help you to instantly launch a NFT marketplace like Decentraland.Launch @ https://www.sellbitbuy.net/decentraland-clone-scriptConsult our crew!For more details!
Advantages and disadvantages of having your own eCommerce startup before you actually spend on it. Take a look at how you can setup your business as well.
