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Tag: Ecommerce 🛒

  • NorthMist – Bringing in the Gorgeous Fusion of Fashion and Sustainability

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Recently we have been quite seeing a trend about using organic products. Also, there’s been a lot of buzz about how great these products are for human health and also society at large. Following the same insight, Smrity Gupta and Arijit Mazumdar launched NorthMist in 2018.

    NorthMist primarily offers 100% organic cotton t-shirts, in three categories- polo neck, round neck full sleeves and round neck half sleeves. They are priced at INR 1199 each, INR 899 and INR 799 respectively.

    NorthMist – Company Highlights

    Startup Name NorthMist
    Headquarter Bangalore
    Sector Clothing
    Founder Smrity Gupta and Arijit MAzumdar
    Founded 2018
    Website NorthMist

    NorthMist – About and How it works
    NorthMist – Target Market Size
    NorthMist – Founders and Team
    NorthMist – How did it start?
    NorthMist – Name, Tagline, and Logo
    NorthMist – Startup Launch
    NorthMist – Business Model and Revenue Model
    NorthMist – Startup Challenges
    NorthMist – Competitors
    NorthMist – Funding and Investors
    NorthMist – Advisors and Mentors
    NorthMist – Growth
    NorthMist – Future Plans

    NorthMist – About and How it works

    All the products at NorthMist are made of 100% organic cotton, sourced from exclusive and certified vendors, and manufactured in a pro-sustainability strategy. Also, all the products are ensured to be supremely authentic of being environment-friendly products. NorthMist procures raw materials in-house, from vendors, who are under the sustainability umbrella and supply only to it. Having multiple vendors for each of the raw materials, it picks the best and thus gets the best price in the industry. Moreover, it operates on a low inventory model with a turn-around time of 7 days. Through real-time orders and fast processing, which are pretty uncommon as well. Combined, this makes it stand apart from the present competitors.

    Low inventory levels, less stock, a small and efficient team and faster turnaround time pull down chances of loss while promoting faster decisions and cost-cutting opportunities. And that’s how it works at NorthMist.

    NorthMist – Target Market Size

    The apparel landscape in India is believed to be ruled by startups in the near future and going by the consumer preference pattern, eco-friendly start-ups will soon be at a better position, compared to bigger brands. Indeed, these are the reasons behind this startup venture too.

    NorthMist – Founders and Team

    Smrity Gupta and Arijit Mazumdar are the Founders of NorthMist

    “Smrity and I were co-workers. Shared philosophy and zeal to do something big allowed us to become friends.” Says the founder, Arijit Mazumdar.

    Arijit has a master’s degree in power engineering and has excelled in many fields including business negotiations, business development, and sales. Smrity, the co-founder of NorthMist is a fashion technology graduate from NIFT and holds immense knowledge of the industry. Her insights about the industry, her keen eye for detail and her experience made the journey of starting a fashion business easier for this duo.

    NorthMist Founders
    NorthMist Founders

    NorthMist has an in-house team that consists of about 15 people, encompassing different arena of expertise. It has a sales head, content marketer, visual designer, digital marketer, operations executives, and a production team. Eco-warriors as the venture identify the team. All decisions are taken by the in-house team of experts, who share a similar outlook towards sustainability. NorthMist also has an extensive network of freelancers working for it. At this moment, NorthMist has a strong team of 25 individuals.

    When the founders hire people, they ensure that the candidates believe in the concept of sustainability or are at least familiar with the concept of sustainability. There is no hierarchy in the office. Though every individual has their own role to play, when required, everyone can contribute. Every Saturday the core team conducts “brainstorming” sessions, where every team member shares their ideas for brand growth. From birthday celebrations to team outings, playing games to fun sessions, the work environment at NorthMist is all about being happy and content.

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    NorthMist – How did it start?

    “My co-founder and I shared the same philosophy- to make the world sustainable. This motivated us to come up with the idea of NorthMist.” Says Arijit Mazumdar. Both of them were working, however, their ambitions were different. All they wanted was to start their own brand. Since both of them were quite inclined towards adopting a sustainable lifestyle, their aim was to start something around it. And hence they started brainstorming on what they could do to bring about change in the world. And this motivated them to establish NorthMist.

    During the inception days, they were just 2 people. They worked really hard, supporting each other through all hurdles, which honestly were in abundance. The founders worked hard to realize our dreams. The first few months were all about tight schedules and deadlines. They would conduct surveys and get direct feedback from the customers. The focus was to create awareness and they ensured to do so using various channels. They kept the product line limited to draw more attention to the quality of the same. It was difficult, but fun nonetheless. When you have your friend by your side, sharing similar ambitions, everything becomes easier!

    The etymology of NorthMist is such- “North” is the head of directions and “Mist” is often associated with nature. Put these two terms together and one gets “NorthMist”, which literally means ‘to head towards nature.’

    Northmist Logo

    The founders wanted a name that was simple and relatable, yet strong in its resolution. And let’s not forget, a name that would convey the concept of being eco-friendly perfectly. NorthMist fitted the bill effortlessly.

    “It took us about a month, a self-determined deadline and suggestions from our friends to come up with an impeccable name for the brand. And today, we can say proudly that we have it.” Added Arijit Mazumdar

    NorthMist – Startup Launch

    After launching NorthMist in March 2018, the founders started participating in co-working events. We Work, CoWorks, Coho, 91 SpringBroad, they went everywhere to showcase the products. For the first eight to nine months, they were dedicated to doing events. This helped them to create a strong customer base. Then, they dedicated their efforts to retargeting these customers. They also started collaborating with marketplaces like Amazon and Flipkart to create more awareness.

    The founder’s equally used social media platforms to garner the attention of the target audience. This helped them scale the brand and add visibility to the products. NorthMist’s journey from 50 to 5000 has been extraordinarily inspiring and only motivates the team to do better every day.

    NorthMist – Business Model and Revenue Model

    The business model of NorthMist follows can be classified broadly into B2B and B2C categories. Under the B2B model portion, it has wholesale, dropshipping and inbound corporate. B2C model, on the other hand, relies on its own website and e-commerce platforms like Flipkart, Amazon and The Better India for the sale of our products. NorthMist is also registering on national and international online marketplaces like LBB, Step Set Go, Ajio and more. In terms of offline presence, its products are available in Organic World and Go Native stores pan India.

    NorthMist – Startup Challenges

    Major challenges in the Indian apparel and fashion industry lie on factors like poor infrastructure, limited reach and unorganized market. Furthermore, for startups in India, the criteria to meet for Government funding are extensive and slow.

    Another major challenge is to create awareness. Considering the fact that sustainability is a relatively new topic with very less exposure, convincing customers to make a switch is fairly difficult. Not impossible though. “Our motive was clear, to reach as many people as we can and motivate them to make a shift to sustainability.” Says Arijit. The process was time-consuming, but their constant efforts have ensured that they are reaching the right. Communication plays a major role in a business such as NorthMist’s, and the core team seems to have mastered it. Garnering attention can still be challenging yet they are doing it quite well.

    NorthMist – Competitors

    Competition is quite huge as more than 300 international fashion brands are expected to create a footprint in India. Besides, the Indian apparel market predicts growth to $124 billion by the end of 2020. Also, more startups are certainly on the pipeline as the apparel space in the country is projected to be ruled by startups in times to come. Eco-friendly startups will occupy a big share, as consumers these days are increasingly making sustainable choices.

    When it comes to sustainability, the number of brands is quite limited; however, to name a few, NorthMist is in direct competition with No Nasties, Turmswear, and March Tee.

    NorthMist – Funding and Investors

    NorthMist has a set of angel investors, who have invested Rs. 1 crore inequity of the business.

    The first round of our series of funding came from Sanjay Koul, Managing Director and chairman of a top US company; Birju Gala, CEO of a leading company; Soumendra Biswal, Head of Corporate Affairs of a leading export company; and Srinivasan Sarangpani, Director of Supply Chain at a US company. The majority of the funding has been invested in R&D of our products, hiring the right team for delivering the best, marketing and creating awareness among consumers about the brand identity and sustainability goal.

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    NorthMist – Advisors and Mentors

    The list of advisors and mentors of NorthMist include:

    • Venkatesh Maheshwari
    • Sriram Sundaravadanan
    • Rajiv Mehta

    NorthMist – Growth

    In the last fiscal year, NorthMist has had a turnover of 30 lakhs. It has also got tremendous responses from conscious customers from cities across India. Metros and Tier 1 cities like Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Pune and Bangalore have together recorded maximum sale figures for NorthMist.

    NorthMist – Future Plans

    Staying pivotal to the sustainability factor, NorthMist has plans to diversify. Adding to the existing men’s t-shirt categories, it will be launching women’s wear and a new range of sustainable hoodies soon.

    As for short term goals, NorthMist looks forward to having a total turnover of 500 crores in the next five years; expand in terms of products under the sustainable lifestyle category. It wants to grow the business within India and beyond the geographic boundaries through different distribution channels and multiple branded outlets.

    “We are a pro-sustainability company; hence, sustainability is our long-term vision. The planet belongs to each of us and saving it from further damage is surely our responsibility. Instead of combating against brands, a collaborative effort of all sustainable brands making conscious choices of environment-friendly products should be the future.” Concluded Arijit Mazumdar.

  • Tools And Techniques Employed By E-Commerce Sector Post COVID-19

    The COVID-19 crisis has gone through several stages. Not many people took it seriously at first, thinking it was just another virus that would go away within a month or two. Then there was the lockdown period, which, people thought, would be enough to eviscerate the virus. But with time, the crisis has only evolved, affecting pretty much every sector of the business industry. Among those sectors that have taken the brunt of the pandemic is the offline retail sector.

    Fearing for their safety, people have become increasingly reliant on e-commerce platform for shopping. Even those people who were averse to shopping online are now beginning to realize the potential of e-commerce. Not only is this mode of shopping much safer, it also offers convenience and comfort that people crave.

    Seeing the growing popularity of the e-commerce sector, many offline retail sectors too have started venturing into this new domain to boost their sales and retain their customers. Consequently, the sector is now witnessing an influx of both customers and sellers. Amid all this, an important question that comes to mind is “How is the e-commerce sector dealing with the changes brought about by COVID-19?” Let us try to answer this question in detail and discuss emerging trends in the e-commerce industry.

    New technologies on the horizon

    The shift from offline retail to e-commerce had begun long ago, but the COVID-19 crisis has acted as a catalyst and has accelerated the rate at which people are switching their shopping mode. This also means that technologies that would’ve come at a later date would disrupt the sector sooner. Take fashion segment, for instance. When people went shopping in offline stores, they had the privilege to try on clothes and fashion accessories before they bought it, to know that what they’re buying is the right thing.

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    Online retail, on the other hand, has certain limitations regarding this. To offer a more immersive experience, we might see online retail stores bring in technologies like Augmented Reality (AR) and Artificial Intelligence (AI). AR technology would allow the buyer to virtually try on clothes and other accessories and could play a major role in improving customer satisfaction. But whether or not these technologies would be scalable and affordable is anyone’s guess at this time. Though chances are that we would see this technologies disrupt the sector sooner or later.

    Understanding the customer behavior

    One thing that e-commerce websites need to practice is adaptability. Consumer behavior has changed quite drastically during the pandemic. People are now gravitating more towards essential goods instead of luxury items. Also, since people have suddenly become health conscious, the demand for health and wellness products has skyrocketed. Items like immunity boosters, health supplements, probiotics, hand sanitizers, and vegetable washes etc. has seen a spike and experts have estimated that the demand would continue to remain high for the coming 4 to 5 years at least.

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    This means that companies in the FMCG sector need to leverage this opportunity and start creating products that are needed instead of creating products that are no more in demand. Adaptability would be the determinant of success in the future and those brands that identify the opportunities on the horizon and act accordingly would fare much better than those who wait till they’re only left with a limited number of options.

    Re-structuring of the supply chain

    One of the major problems that the retailers faced during the lockdown was the broken supply chains. Many companies are dependent on manufacturers in other countries such as China and Italy. Due to the lockdown, however, the supply chains were broken and there was a sudden shortage of materials. The inventories ran empty and the production came to a screeching halt.

    Now, as the customer behavior is beginning to change, we’re also witnessing a change in product purchasing categories. Since the categories that used to witness scant demand (e.g. hygiene and wellness) are now seeing high numbers, the supply chains are also being restructured dramatically. Even though some businesses have experienced grave difficulty due to the lack of supply of essential items needed for production, the business owners are working day and night to revise their sourcing strategies and restructure their supplier network.

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    We might also see quick adoption of the blockchain technology post-pandemic, as it greatly aids in supply chain management and makes the whole supply chain transparent and easy to track and monitor. This way, the businesses can easily notice if there are any blockages in their supply chain and act accordingly in time to prevent the complete chain from collapsing.

    Within a short period, the COVID-19 pandemic has completely changed the e-commerce landscape and the best way to deal with this sudden change is to adapt it instead of fighting it. Even when the pandemic resolves, the normal that would ensue would be a new normal, unlike anything we’ve ever seen before. The sooner we all accept this reality, the better it will be for us.

    This article is authored by Ms. Nidhi Yadav, Founder & Creative Director, AKS Clothings.

  • Flintobox – Colouring Childhood with Creativity and Curiosity!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    These days, when women too fetch their passion aggressively, they often seem to be in a fix upon raising their kids right while not giving up their interests. To make it a little convenient and easy on these women, Flintobox was founded by Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam in the year 2013.

    Flintobox essentially produces educational activity boxes for children. These boxes are particularly based on a theme. So ideally, Flintobox makes resources for Early Child Development monthly.

    Flintobox Activity Boxes

    Flintobox – Company Highlights

    Startup Name Flintobox
    Headquarter Chennai
    Sector Edtech
    Founders Arunprasad Durairaj, Vijay Gandhi, Shreenidhi Srirangam
    Founded 2013
    Parent Organization Flinto Learning Solutions Pvt Ltd
    Website flintobox.com

    Flintobox – About and How it Works
    Flintobox – USP and Innovation
    Flintobox – Founders and Team
    Flintobox – How did it Start?
    Flintobox – Name, Tagline, and Logo
    Flintobox – Business Model and Revenue Model
    Flintobox – Funding and Investors
    Flintobox – Growth and Revenue
    Flintobox – Awards and Recognition
    Flintobox – FAQs

    Flintobox – About and How it Works

    Flintobox provides theme-based educational activity boxes for children. It has 3–4 activities a month with a book in one theme. These activity boxes can be reused and sometimes they also tend to engage more than one child.

    All activities from Flintobox come with an instruction chart. Still, if you’ve got any queries, the activities can be viewed on their website. Each of these activities is described with the help of a video and they are based on one particular theme like transport, plants, animals, mathematics, rainbow colors, a game, a crafting/ coloring activity with good items. This is complemented with one storybook with superior characters like Bobo, Mia, Benji, and Flinto.

    1. Get Monthly Subscription! And get Flintobox every month on an Educational theme
    2. Themes are focused on developing key skills by inculcating age appropriate activities
    3. Watch & observe your child learning new things and concepts by having fun simultaneously!
    Flintobox in Nutshell

    Presenting a new theme every month, It is research-based and caters to the development of 12 areas in the child’s overall growth. These boxes are curated by Montessori experts and child psychologists.

    There are two different product modules at Flinto Learning:

    • Flintobox – This product is mainly a subscription program that is designed to deliver engaging learning activities to children right at their doorstep.
    • FlintoClass – This one is a comprehensive preschool system for independent/unbranded preschools. It provides children with a top-notch learning experience in their early growth years.

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    Flintobox – USP and Innovation

    The main USPs of Flintobox are:

    • Driving the kids away from ipads and Mobiles – With activities designed so well and keeping the key result areas on top, the children are ought to spend more time doing these rather than playing games on the mobile and watching cartoons on television.
    • Bonding time with the Parents – In the tight schedules and being disturbed by so much technology all around, parents hardly can spend any quality time with their kids. With Flintobox activities, they are ought to spend some good time doing these activities with their kids thus resulting in good bonding time.
    • Increasing the Creativity Quotient in the kids – With reduced time spent on Televisions and computers, the children get to creatively explore the arenas of thinking while doing the Flintobox activities. In the competitive world today where kids are not only judged at I.Q., this makes them ready for tomorrow.

    Flintobox – Founders and Team

    Flintobox was founded by Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam.

    Flintobox owners Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam
    Flintobox Founders
    • Arunprasad Durairaj, Co-Founder & CEO – He is an entrepreneur and an Ivy League graduate. He has worked in a wide array of industries like consumer goods, food services, biotech, healthcare, infrastructure development, mining, transportation in strategic and has also had financial advisory roles to play. He is currently an advisor to Startup Community in Chennai and Bangalore.
    • Vijay Babu Gandhi, Co-Founder & COO – With a B.Tech from Anna University, he was a co-founder at Zinghopper before co-founding Flintobox.
    • Shreenidhi Srirangam, Co-Founder & CTO – He has over 15 years of experience in larger organizations and startups. His expertise lies in designing and implementing mobile and web experience. He has successfully led teams and is also an individual contributor.

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    Flintobox – How did it Start?

    All of this started with the current problem of the present generation. The problem is that they are busy with their daily and hectic schedules and at the same time they want their children to excel in their studies. In this generation, parents are truly trying their best to nurture their kid’s creativity and curiosity to an optimum level. So the basic idea for Flintobox was germinated when Vijaybabu Gandhi faced this with his 5-year-old kid who was more unconsciously deep in movies and mobiles.

    This stressed out Gandhi and he began thinking of ways as to how can this situation be avoided. Therefore he wanted to create a product that can be used to increase the kids’ creativity through meaningful activities. To do so, he thought about a venture like this to protect the kids from the curse of technology. And that’s how the idea for Flintobox was germinated.

    This was followed by him sharing the idea with two of his friends who are now the co-founders. Together they came up with an idea of starting a product called Flintobox.

    The name Flintobox is ideally originating from flint, which is defined to be a sedimentary rock that generates sparks when struck against steel.

    Flintobox Logo

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    Flintobox – Business Model and Revenue Model

    This business model of Flintobox is subscription-based. It offers three subscription plans:

    • 3-month subscription
    • 6-month subscription
    • 12-month subscription

    The customers are entitled to upgrade or cancel at any point in time. The company puts up efforts at teaching the children several realistic concepts throughout the subscription. Also, one of the most interesting parts is that the subscribers of Flintobox receive a digital feed on parenting tips along with weekly activity ideas to do with children through the App.

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    Flintobox – Funding and Investors

    Flintobox has raised a total of $15.3 Million in funding over 5 rounds. Their latest funding was raised on July 2020 for $7.2 million led by Lightbox ventures

    Here is a list of all the funding rounds of Flintobox:

    Date Stage Amount Investors
    August 2013 Seed Round $35K –
    October 2014 Seed Round $300K –
    August 2015 Angel Round – Globevestor
    December 2017 Series A $7 million Lightbox
    August 2018 Debt Financing $800K InnoVen Capital
    July 2020 Pre Series B $7.2 million Lightbox Ventures

    “We don’t want COVID-19 to come in the way of a child’s learning. For children below 6 years of age, monotonous online classes can’t be a substitute for the multi-sensory experiences that they deserve. We wanted to ensure that children continue receiving structured hands-on learning without compromising on their safety. We will be using the funds to create, expand and distribute this product across the world so that no child’s learning stops due to Coivd-19″ says Arunprasad Durairaj, CEO & Co-founder, Flintobox

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    Flintobox – Growth and Revenue

    In FY 2017, Flintobox had a revenue of around $2.05 million, which raised to around $3.65 million in 2018.

    • Over 5 lakh customers across India
    • Catering to 45 million children in the age group of 2-12 years
    • 40% sales in metros, 60% in tier-II cities
    • Present in more than 30 cities in India
    • Reached a 1,000 preschools
    • Gone Global with establishing a presence in South and Middle-East Asia

    Flintobox – Awards and Recognition

    • It was awarded the “Coolest Startup of 2014” by Business Today
    • Also, the “Best Education Startup of 2014” by the Confederation of Indian Industries
    • Won the Wharton India Startup Competition in 2015
    • And was also recognized as the best subscription boxes of 2014 by kidsstoppress

    Flintobox – FAQs

    What is Flintobox?

    Flintobox is an India-based company that produces educational activity boxes for children. Based on a theme, the company makes resources for Early Child Development on a monthly basis.

    Who are the Founders of Flintobox?

    Flintobox was founded by Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam.

    How much is the revenue of Flintobox?

    In FY 2017, Flintobox had a revenue of around $2.05 million, which raised to around $3.65 million in 2018.

    How much Funding is raised by Flintobox?

    Flintobox has raised a total of $15.3 Million in funding over 5 rounds. Their latest funding was raised on July 2020 for $7.2 million led by Lightbox ventures

    What is the Business Model of Flintobox?

    This business model of Flintobox is subscription-based. It offers three subscription plans:

    • 3-month subscription
    • 6-month subscription
    • 12-month subscription

  • What is E-Commerce Fraud and how to spot them?

    E-Commerce is one of the largest sectors in online business. This is a sector that is continuously growing in size, volume and influencing the market, it would be a surprise if fraud wouldn’t take place in the system.

    Fraud or deceiving criminally intend to gain immoral financial wealth. A person who intends to deceive others, typically by claiming accomplishments or wealth is called a fraudster.

    Fraud in e-commerce has been increasing globally over the last years due to the immense rise in online marketplaces. With more technology available to fraudsters or unethical hackers, it has become more difficult for e-commerce businesses to keep a track of the tactics used to defraud online businesses.

    Whether the user is simply making a purchase online, it’s essential to stay alert of the types of frauds that exist in the e-commerce industry. There are multiple ways of how frauds are performed and how to formulate a solution for the same.

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    What is E-commerce Fraud?

    E-commerce fraud is a type of fraud that occurs on an online platform. E-commerce fraud is evolving day-by-day, as fraudsters use more advanced tactics and methods.

    The e-commerce fraud occurs when a malicious actor approaches a merchant and proposes a business transaction using fraudulent means such as a stolen or fake credit card to pay for it. This leaves the organization without payment for the sale.

    Using a stolen or fake credit card, using a false identity, and affiliate fraud advertising are all forms of e-commerce fraud. When a customer engages in fraud on the online store, the retailer has to bear this cost, negatively affecting the revenue.

    Fraud has always been around in one form or another, so the concept isn’t new. Initially, it used to be limited to physical stealing, now it has extended to online fraud too. The new technologies behind payment methods, and data processing systems, online store owners are unknowingly vulnerable to new forms of fraud every day.

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    Talking about the fraud online, it commonly takes place when the credit card is lost, or its information is not stored securely. The fraud called card, not present fraud continues to grow over the years.

    Online fraud can also be conducted with personal and credit card information, the card doesn’t need to be present for the transactions. Unethical hackers steal financial information and sell it on the black market. This type of fraud leaves the operators more vulnerable, but there is also a fraud called friendly fraud, where the customer intentionally files a chargeback to gain a free product and avoid payment.

    Frauds via Email
    Frauds via Email

    Types of E-Commerce fraud

    E-Commerce fraud is still alive today because prosecutions are rare, due to time constraint and the constraint of gathering pieces of evidence. It is important to integrate a perfect fraud detection and prevention management system to eliminate fraud on the platform and reduce its impact on the revenue. Here are some types of E-Commerce Fraud.

    Phishing

    Phishing is a meant to collect the piece of personal information like a user ID, password, and credit card information via an email or SMS. In this fraud, the fraudsters send emails or SMS to the user by pretending as the actual online trader.

    Credit Card Fraud Reports in US
    Credit Card Fraud Reports in US

    Clean Fraud

    Fraudsters use stolen payment card information to make an online purchase and use technology to prevent any chances of fraud detection in clean fraud.

    Identity Theft

    Fraudster obtains the identification information of the real user and makes the online purchase on the e-commerce platform. This theft affects both the customer and the seller as the customer places a refund when he detects the fraud.

    Merchant Fraud

    In this fraud, fraudsters create a fake merchant account under the pretence of owning and running a legal business. They use various stolen credit and debit cards to withdraw the amount received before being detected or reported, and the transaction moving to the point of being reversed.

    Chargeback Fraud

    In chargeback fraud, a customer keeps the product purchased from the online store via credit card and claims a refund falsely stating the reason for payment is made twice or purchase never made.

    Return Fraud

    The fraudsters can ask for a refund claiming that the product was never received or requests a refund for a fake product already purchased and swap with the actual product received. In refund fraud, the seller suffers the loss due to the refund of the payment made as well as a loss of inventory when the fraudster returns a fake item.

    How to spot E-Commerce Fraud?

    Fraudsters are great actors and they make themselves go unnoticed. To be safer, here are few things organizations and customers can spot or detect fraud online:

    • Pay close attention to First-time customers who make bigger than average orders
    • Detect unusual or false location
    • A large quantity of the same product
    • Multiple shipping addresses
    • Check if Shipping and billing address are not the same
    • Payment information typed with capital letters
    • Huge number transactions in a short time

    How to prevent E-Commerce Fraud?

    No system can surely detect the fraud but there are several things you can do to make personal and financial information on your website more secure.

    Outsiders’ Assistance

    Hire a professional that can evaluate the security of the website and help in what else can be done to detect and prevent fraudulent activities.

    Timely Update of the Software

    Keep updating the platform or software you’re using to keep the site running, make sure you’re using the latest version. Compromised software is a gateway to the fraudulent activities, providers are hard at work improving the security aspects of their products.

    Check if all the checkout pages are in HTTPS

    The encryption within HTTPS allows the information to remain confidential from fraudsters’ eyes because only the website’s owner and the server can decrypt the traffic.

    Use AVS and CVV

    Address Verification Service ensures the billing address of the purchase matches the billing address credit card company has on file. Credit Code Verification is a code printed on the credit cards, which means that the customer needs to have a physical credit card to make a purchase.

    Fraud protection software

    These type of software detect high-risk transactions and analyze other risk factors to prevent fraudulent activities. To find the right tools that automatically detect suspicious transactions is crucial to protect the business from loss.

    Wrap Up

    E-commerce frauds have grown rapidly over the years. The online market has to make sure they are using fraud protection filters that will alert about anything out of ordinary. Online businesses must know how to recognize a fraudulent order and what tools to use to prevent it from happening.

  • 5 Fascinating E-commerce Checkout Tricks To Win More Sales Tactics That Can Help Your Business Grow

    If the customers have committed to buy a product. Your duty is to get them through checkout as quickly as possible. Most of the online stores find the best way to reduce the number of steps is to use one-step checkouts. But that one step checkout is not different from five-step checkout. If the one-page checkout asks the same details from the customers.

    The only main difference is that the customers have to look more. To ask fewer details from the customers, the checkout will have to take the burden.

    According to a report, 27% of US online shoppers dropped their carts due to the complicated and long checkout process.

    WIDGET: leadform | CAMPAIGN: undefined

    Here we will see few eCommerce checkout tips on how you can optimize your checkout process. And get a fast conversion rate and sales.

    1. Registration

    Many eCommerce sites make you register before moving to checkout. This is the reason for cart abandonment. The best option is to provide a “continue as a guest” button and this will take the user to checkout. The accounts get created during the checkout, this looks faster to the customer. You have to also include a sign-in form for the existing users who also want the convenience of fast checkout.

    The Online Registering Process

    23% of customers will abandon the shopping cart if you will try to force them to create an account.

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    2. City, state, and Country

    Web forms demand addresses in the same format that people write on envelopes. This is something users are familiar with and decreases the chance of errors. However, in today’s world, we can gather info and categorize relationships into tables. This works in a better way to format the fields.

    By removing the zip code form to the front of the address entered. We can use info that is already available to us in order to streamline customer input. By using the free lookup tables, a checkout can match the values for the city, state, and country from the zip code. This work is done by checkout. Thus it eliminates the need for customers to type in the information.

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    3. Clean Layout & Flow

    First impressions make an impact on the checkout page. however, a clean and clear checkout page is the first step for having a great checkout experience. The first thing you should do is to remove distractions. A great way to keep your customers focused. You should remove unnecessary links and form elements etc.

    Cart Abandonment Vs Checkout Abandonment

    Another element that affects the customer’s decision to go further for payment is the checkout form. The fewer elements the checkout form contain. The fewer chances that the customer will complete the order.

    So, stick only with the expected fields and save the customer’s time. The customer will have to fill in more fields and will take more time. So try to make the form filling process quick. Apple has a distraction-free checkout page that asks only for essential information.

    The Rise Of E-commerce Industry In India
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    4. Safe & Trustworthy Payment

    There are specific websites where entering your bank account or credit card details is the only way to pay. However, in providing credit card information manually will take time. And everyone hates it.

    Recover Abandoned Carts

    If you are still thinking about why people love PayPal then it’s because it’s fast. The credit card information of the customer with their shipping address is already saved in PayPal. This will eliminate the need for manually typing the details.

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    StartupTalkyPiyush Mishra

    It will be too frustrating every time you buy a new product and you have to enter your credit card info manually. If you are also not accepting PayPal Or Google Wallet on your website. This is the time, you should do it now.

    5. One step Checkout

    If the customer is committed to buying a product from your website. Your duty is to get them through the checkout quickly. The only mantra to do this is only to ask them little info.

    Various eCommerce stores are powered on a hosted solution where you can’t customize the checkout. While shopping carts such as magneto get hosted by the companies that make these solutions. Get switched to a community of the software might give you the flexibility you want. This should be the last alternative. But for having high-grossing eCommerce stores. A 1-10% conversion increase in quarterly sales is something you will need to upgrade.

    Magento 2 is the one-step checkout which speeds up the whole shopping process. This will enhance customer satisfaction. You can purchase an extension or get or custom-developed using your developer. Sometimes checkout extensions that are already existing.

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    What to do about the limitations to simplify your checkouts

    1. You can create a feature request ticket to your hosted solution’s support system. And tell them that this is a feature you want which directly relates to your store conversion rates. This way there will be dual incentive to make to the next version release.
    2. You can also move to a self-hosted eCommerce solution. Shopping carts such as Shopify, BigCommerce, and Magento Go are hosted by the companies that make the solutions.

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    Conclusion

    For any type of eCommerce, the checkout process is important. The process has various elements that require lots of tweaking. However, if you do it the right way. You can reduce the cart abandonment problems. You can increase your conversion rate. And finally you will reach your goals. Remember this is all about removing distractions. Try to make the process easy and quickly. To find out what works, you need to customize and test checkout to maximize your conversions.

  • Vedas Exports – A Décor that illuminates the Timeline Between Old Classicism & Trendy Modern!

    Handicraft has been a widely enamored and respected art form since time immemorial. It is said that the people who have crafting in their blood are the masters of this art. India is world-renowned for its art and craft. A plethora of artistry and artisans can be found in the various states and provinces of this country.

    Founded by Mr. Palash Agrawal, Vedas Exports is one of the renowned exporters of handicrafts. Providing the most exquisite quality handcrafted goods from traditional to modern abstracts, this company aspires to be a paramount dealer of this art in the international market.

    Vedas Exports – Company Highlights

    Startup Name Vedas Exports
    Headquarter Ranchi, India
    Sector Handicrafts & Decor
    Founder Palash Agrawal
    Founded July 2014
    Website vedasexports.com
    Contact info@vedasexports.com

    About Vedas Exports and How it Works
    Vedas Exports – Target Market Size
    How was Vedas Exports Started?
    Vedas Exports – Name, Tagline, and Logo
    Vedas Exports – Product/Services
    Founders of Vedas Exports and team
    Vedas Exports – Business Model and Revenue Model
    Vedas Exports – Startup Launch
    Vedas Exports – Growth
    Vedas Exports – Startup Challenges
    Vedas Exports – Funding and Investors
    Vedas Exports – Competitors
    Vedas Exports – Future Plans
    Vedas Exports – Founder’s Advice
    Vedas Exports – Technology Stack
    Vedas Exports – Recognition and Achievements

    About Vedas Exports and How it Works

    Vedas Exports is one of the renowned exporters of handicrafts. Providing the most exquisite quality handcrafted goods from traditional to modern abstracts, this company aspires to be a paramount dealer of this art in the international market. Vedas Exports believe that beauty is a combination of both the internal and external qualities of daintiness and authenticity. Therefore, all the artifacts are created with a steep approach towards quality management.

    Handmade bags, paintings, woodcraft, t-lights, and artifacts made of bell metal and wrought iron are the masterpieces that the company is proficient in supplying. Its focus is to bring excellence in the work and feel privileged to offer a wide range of aesthetic handicrafts and home decor to valuable customers in any corner of the world. Designs, values and ethics – these are the three priorities, Vedas vouches for in the market.

    Vedas products - Arindam Tree and Wall art
    Vedas products – Arindam Tree and Wall art

    “Our vision is to reach every single town and each seller dealing in décor. We wish to make every house, restaurant, hotel, etc. display at least one piece of décor from Vedas, in our aim to make India self-reliant and not import handicrafts or décor items from abroad”, says Palash Agrawal, founder of Vedas Exports.

    Currently the company operates in the B2B module, by supplying to the offline branded stores and currently due to the current situation also selling their stuff online through various modules like social media and online e-commerce platforms. But its mission is to create 60 offline stores by next year, in both franchise and own store modules.

    Also read: Fanzart Fans – Designer Fans for Designer Homes

    Vedas Exports – Target Market Size

    So far, Vedas Exports is present in 700+ stores across India and 500+ stores abroad. While its market share is currently in the range of 7-9% across India, the company’s target is to reach 40% within the next 2 years. With the current pandemic-led lockdown making people stay and spend more time within the confines of home, we expect a growth in demand for décor and a bigger market in times to come.

    How was Vedas Exports Started?

    Having spent 8 years in boarding school and the United Kingdom for his undergraduate and postgraduate studies, Palash has been away for quite a long time. Yet, belonging to business family meant business was in his genes, while he always aspired to do something very different and contribute to society.

    “My father has been my inspiration in my idea of exploring the world of décor, to start my own brand Vedas Exports and etching a strong foothold in the market. Initial days were tough though, and we used to hit and try many products from different states in India. But traveling across the globe made me realize that we can transform ancient décor in a blend of modernity and market the same. I remember selling just one piece in the first month of starting my factory. Today, we are selling above 10000 pcs per month and run a complete unit, based in Jodhpur”, recalls Palash when talking about how Vedas Exports was started.

    Relevant read: Mukesh Ambani Is All Set To Revolutionize The E-Commerce Industry with JioMart

    As the team was aiming to relate ancient décor to its modern versions, Vedas was a perfect choice. The name that stands for the Vedic era rightly reflects the aura of the ancient traditions and richness of heritage. They also wished to add a modern and corporate flavor to it. Thus, the logo bears a blending of old and new and is vibrant in color choices.

    Vedas Exports – Product/Services

    Vedas Exports is mainly into décor, and have Wall Décor, Wall Shelves, Mirror, Table Décor, Showpieces, Hooks, Vases, office décor, Wall Jali, etc in its platter. While the company offers readymade choices of items, it also customizes products according to customer needs and preferences. You think of a product and the company will create it for you.

    Vedas Products - Atha Mirror and Marsh Tin Wall Decor
    Vedas Products – Atha Mirror and Marsh Tin Wall Decor

    The use of lead-free paints, powder-coated, and rust-free products are the features that make this brand stand out in the crowd. The team doesn’t believe in replicating the already available styles and designs and launch new products every two months. All the products are handmade and crafted to perfection.

    “We aim to make our products for the masses and thus prefer keeping the price point intact always. We develop our products according to market trends and follow trending colors. Our team has a very good R&D wing, that travels across the globe seeking fresh designs, trend, and pricing opportunities”, says Palash Agrawal.

    Also read: GrabOnRent – Renting Furniture Online made Easier and Better!

    Founders of Vedas Exports and team

    Mr. Palash Agrawal is founder of Vedas Exports. Vedas Exports is a family-run company. Palash has his dad (Mr. Pawan Kr Agrawal) as a co-founder and he has always been the mentor and source of inspiration for the company. The company now has around 110 people working with it, which induces artisans and office employees.

    Mr. Palash Agrawal | Founder of Vedas Exports
    Mr. Palash Agrawal – Founder of Vedas Exports

    The team is a combination of fresh start-up persons and some experienced people on the job. The team has designers from NIFD and NIFT who plan and enhance the products. They also have freshers on their marketing and e-commerce business. The reason why they hire freshers is that they are ready to face new challenges and output is very much high. The team also has a brand manager who is very much experienced and good knowledge of the planning is provided by him.

    “We ensure and endorse a very strong work culture in our office in terms of ethics, teamwork, freedom of functioning, and no interference. So, we have a happy set of people working with us, who consider the office as their second home and work together as one big family”, says Palash about the work culture of the company.

    Moreover, Vedas Exports follow international standards of health and safety norms across the office and in its factories. Till now, 98% of the team was right there with the company from the start of the journey. The startup believes in the experiences and efforts it puts into raising an employee. This is important as if once the person leaves the organization, the company goes back at least 6 months in terms of experience, to teach his work to a new employee.

    Vedas Exports – Business Model and Revenue Model

    Vedas Exports operate in four different business models –

    1. B2B (Business to Business) – Supply to many stores directly and they sell Vedas’s products.
    2. B2C (Business to Customer) – Directly interact and sell products through the website and social media pages.
    3. Via E-commerce platforms – Products are available on e-commerce platforms and portals like Pepperfry, Amazon, Flipkart, etc.
    4. Through customization – Customize and create products according to the clients’ style, needs, and preferences.

    For the export of goods, the company works through direct stores, importers, and buying agencies. Vedas Exports’ revenue is generated from the sale of products through the various channels it operates in. The startup is bootstrapped and has no borrowing from anyone so far.

    Relevant read: Bewakoof – Allowing the Youth to be Fashionably Silly!

    Vedas Exports – Startup Launch

    “Getting the first 50 customers was the biggest hurdle. We had our products but our journey was initiated in the online portal only. At that time, our marketing skills were not very strong and hence our efforts weren’t paying much. So, we started organizing small exhibitions across the country to build the customer base. It took us around 6 months to reach that point and get our first 50 customers”, recalls Palash Agrawal about launching Vedas Exports.

    Vedas Exports – Growth

    Considering the last six months’ journey, the company’s functioning has taken various paths. Being a new brand in the market, it’s not an easy task to have a strong footprint, especially when the decor industry is not very organized in terms of branding and sales. The products are completely handmade, and hence settling is an issue. Sometimes the startup face a lot of issues regarding its pricing, shipping costs, etc.

    Vedas Products - Basket Cycle and Bayon
    Vedas Products – Basket Cycle and Bayon

    But the exhibitions the company already organized and the client meetings the team have attended have made them realize the demand for their products and the praise for its quality. Thus, the team readily understood that it can survive in the market if its back end is strong enough.  So, the company focused on making distribution and dealer channels wide and strong, so that on-ground sales pressure is less and it can concentrate more on designs and packaging of the products.

    Currently, the company has visibility in more than 300 cities across India and 15 countries across the globe. Every year, it supply to more than 20,000 end customers from its warehouses. Riding on the success rate of the past three years, it is now present in India’s top superstores including Hometown, Evok, Shopperstop, Royaloaks, Starmarks, Pepperfry studios, etc. It has reached the profit center as well, after the third year of operations.

    Also read: RentoMojo – Live the contemporary lifestyle on rent!

    Vedas Exports – Startup Challenges

    The main challenge was building up the trust and making a big customer base. The second biggest challenge was keeping the set of artisans intact. The company was in the initial stage of business back then and orders were few, thus forcing it to assign basic work for them every day and get the work going. It also used to participate in many shows abroad with a very low success rate at that time. Hence, the team relied mostly on reverse engineering to stay afloat and improvise its products.  

    Vedas Exports – Funding and Investors

    So far, Vedas Exports has not raised any funding and its 100% stakes is owned by the founding team.

    Vedas Exports – Competitors

    Talking of competitors, there are many based in Jodhpur and Moradabad. But they have always been a great source of motivation and energy for the company, to work harder and spend more time on product building. The team believes competition should be healthy and wise.

    Relevant read: Flipkart – India’s Leading E-Commerce Marketplace

    Vedas Exports – Future Plans

    Vedas Exports plan to build on the franchise module and come up with company-owned stores across India, UAE, Nepal, UK. It is now coming up with furniture, as a new segment.

    Vedas Exports – Founder’s Advice

    Our startup journey was like a roller coaster ride. It’s fun to feel that you are the boss of the organization, where you work. But at the same time, it’s you, who end up doing all the jobs too. My suggestion would be to never give up on your belief and dreams. I was thinking to close my startup after two years of operations. But my dad and brother prevented and motivated me to put the best of my efforts and sheer hard work to climb up the ladder of success. And see where we are today- all around the world with our creations.

    Vedas Exports – Technology Stack

    From day 1 of its journey, the team has been very organized in terms of software, ERP, and tools it uses. It has customized its own ERP system for inventory management and billing.

    Vedas Exports – Recognition and Achievements

    The company has given diploma on handicrafts from Russian authority on 2015, after the first year of the business.

  • LINQ Stores, Creating 100’s of Micro-Entrepreneurs

    LINQ Stores

    Micro-Entrepreneurs are the ones who are independent professionals but entrepreneurs in their mind and soul. They can make or break the economical growth of a country or let’s just say they can scratch a MNC’s back or break them apart. They eke a living and accelerate growth in their own terms which in turn makes them live in serenity. LINQ Stores has a faction of such dynamic and enthusiastic professionals all across India who are insistent to make a mark in their towns. LINQ Stores gives you an opportunity to start a business with the least of investment.

    A LinQ store is an offline super bazaar that brings online shopping in the form of physical stores. LinQ does not have wares stacked in the store, it has computers and large screens connected to the internet to browse various e-commerce websites. Consumers are greeted by LinQ store assistants who help them to buy products according to their needs and best price availability. The store also showcases sample products, thereby, enabling a customer to check the quality of the product before purchasing.

    A wholesale market is the best example of a capital business where even if the margin is in puny, the volume of sale is the highest. Unruly and yet systematic markets run in unity in due diligence of these Micro-Entrepreneurs. A myth saying, “Heaps of monetary value is required to start a business” is being scrapped as with a lot of referrals and a bit of your investment can help you kick off a small business.

    Also Read: 62 Business Ideas With Low Investment and High Profit

    Not everyone can uphold it though. In an economy where the highest percentage of people ‘make a living to just feed everyone on their table’ lack the possibilities and opportunities which otherwise comes easy to those whose families live and breathe business.

    With the 9-5 grind in the corporate life giving you barely any satisfaction, franchising and starting up on your own is the best way out. Franchising is known to be the utmost successful business as the parent business is already set on their path. Best known examples being food chains, salons, apparel stores.

    A franchise with the least investment possible with ‘Zero Inventory Management’ is trending in India. People from every corner are approaching this business type where under one roof, every product thought of, can be acquired. This business model helps customers who are unacquainted with online shopping trends and are lacking digital knowledge. Passionate and motivated for independence in work life micro-entrepreneurs are approaching LINQ Stores to earn and grow with them.

    LINQ Stores is a prevalent name in the lower tiered areas of India for its ideology. Retail and E-Commerce Industry are looking out for such start-ups because they can be the last mile to the lower tiered regions. LINQ Stores not only is a branding and marketing partner for Retail and E-Commerce industries but also a solution to their problems relating to supply chain and return policies. LinQ has partnered with an various e-commerce services like retail, travel, health care, insurance, pharmacy, money-transfer, matrimony and others under a single platform.

    The team is connecting consumers with Amazon, NetMeds, Gati, Via.com, Rubique and Hitachi. It has become a community of success stories with more than 300 offline stores all over India with a revenue projected at 90 Crores in 2017 is surely a trend to look out for.

    Also Read: 15 Side Business Ideas To Start Immediately In 2020

  • Amar Canvas – Creating a Glorious Marketplace for Artisans!

    As we all know India is a place for Art and Culture, but if you look at the current situation, most of the people here are losing their hobby or passion and young people are not getting the opportunity to make their hobby in the profession. But there is a market place which is big enough to purchase the artworks from them.

    Here comes Amar Canvas with a vision to create a bridge between the artist and the buyer globally. Amar Canvas was launched by Mr. Rahul Basak & Mr. Amit Kumar Mahishya Das in 2018. Read more about Amar Canvas company profile, founders, growth, funding, and future plans.

    Amar Canvas – Company Highlights

    Startup Name Amar Canvas
    Headquarter Kolkata, India
    Sector E-Commerce
    Founders Mr. Rahul Basak & Mr. Amit Kumar Mahishya Das
    Founded 2018
    Parent Organization ADRB ART PRIVATE LIMITED
    Website amarcanvas.com
    Contact Email contact@amarcanvas.com

    About Amar Canvas and How it Works
    Amar Canvas – Target Market Size
    Founders of Amar Canvas and team
    How was Amar Canvas Started?
    Amar Canvas – Name, Tagline, and Logo
    Amar Canvas – Startup Launch
    Amar Canvas – Startup Challenges
    Amar Canvas – Funding and Investors
    Amar Canvas – Growth
    Amar Canvas – Awards
    Amar Canvas – Future Plans

    Check out this List of the Best Startups in Kolkata | Exhaustive List of Kolkata Startups [Updated].

    About Amar Canvas and How it Works

    Amar Canvas takes sign-ups on its website by the artists and after the documentation and verification, it allows the artists to upload their product pictures. And after the second round of verification, it allows the product to be in the product list for the buyers to buy. The great part here is that this platform provides 100% profit to the demand of an artist.

    “In this way, we believe people will create more art because they can as well earn from it and not only that, they don’t have to choose any other profession apart from their hobby.”, said Rahul Basak, founder of Amar Canvas.

    Amar Canvas – Target Market Size

    The market is definitely a big one if one calculates including the hospitality industry of India. On the contrary, Amar Canvas is focusing more on the Interior designing industry which includes interior designing of houses and offices.

    Founders of Amar Canvas and team

    Amar Canvas was founded by Mr. Rahul Basak and Mr. Amit Kumar Mahishya Das in 2018.

    Founders of Amar Canvas
    Mr. Rahul Basak and Mr. Amit Kumar Mahishya Das

    Rahul Basak is the Co-founder and CEO of Amar Canvas, and Chief Editor of “My Canvas Talk”. He is also the director of ADRB ART Private Limited. Apart from these Mr. Basak is a documentary photographer, the projects done by him were featured in MTV NESCAFE LAB. He is also one of the Indians to hold Adobe’s Behance Coin. He is currently working on his first book.

    Amit Kumar Mahishya Das is the Co-founder and COO – Amit is an experienced director with a demonstrated history of working in the information technology and services industry. He is skilled in Customer Service, Strategic Planning, Business Development, Strategy, and Team Building. He graduated from Techno India, Salt Lake.

    The team strength currently at Amar Canvas is 10 people.

    Also read: BigBasket – Success Story of India’s Largest Online Grocer

    How was Amar Canvas Started?

    All of this started when Mr. Basak visited Hong Kong, and being an artist himself he noticed the gap of the market. When he was studying engineering, whenever he talked about making his art as a profession, there was no scope available at the time.

    While returning to India, he talked to his close friend Mr. Das, (now the co-founder) about this. And after that within a day, they arrived at the mission of creating a company to help the young artist and everyone who is seeking the market. After this day, there was no turning back and as of today, these co-founders have started their second company as well which is My Canvas Talk.

    The main perspective of creating or coming up with the name was, the co-founder duo wanted to make an international service but keeping in mind that it originated from Kolkata, they used a Bengali word called “Amar” which means your own and the second part is the most famous word among the artists all around the world “Canvas”. So all in all, it means “A canvas of your own.”

    Amar Canvas Logo
    Amar Canvas Logo

    Relevant read: Zomato – Delivering Delicious Happiness to Your Doorsteps!

    Amar Canvas – Startup Launch

    “The day when we launched the company we already had close to 20k+ followers on our online portals. And we did one of Eastern India’s biggest startup launch press conferences at Kolkata Press Club in front of 60+ journalists. Most of the things we did were via social media as well via collaboration with My Canvas Talk.”, added Rahul Basak, Co-founder of Amar Canvas.

    Amar Canvas Launch
    Amar Canvas Launch

    Amar Canvas – Startup Challenges

    The most challenging part for Amar Canvas and the team was believing in things when they were not even real.

    “We crashed so many times and I believe as a friend to me, Amit was always the biggest support, that helped us to grow. So, trust me, your co-founder matters the most.”, added Rahul Basak, owner of Amar Canvas.

    Amar Canvas – Funding and Investors

    Amar Canvas is a bootstrapped startup.

    Also read: MakeMyTrip – Success Story, Founder, Business Model, Funding, Revenue, News

    Amar Canvas – Growth

    This venture is growing regularly. Soon, all the products will be available according to the global region in dollars or euros. And not only this soon they will start taking the artist registration from different countries as well.

    Amar Canvas – Awards

    The awards and recognitions backed by Amar Canvas are:

    • “The Best Organization Facilitating Artists” By Indian Women And Youth Skills Foundation
    • Amar Canvas won the title “Best Social Impact Startup” from all over INDIA by The Indian Awards
    • “The 10 Most Promising Startup of The Year 2019-20 in India” by The Intellectual Indian

    Amar Canvas – Future Plans

    Amar Canvas is now working towards taking the artist registration from different countries.

  • Ecommerce Trends in the Indian Ecosystem

    Disruptions are the need of the hour. This applies to the eCommerce in India as well. With the emergence of new competitors in the online segment, established players such as Myntra, Flipkart and Amazon, are reinventing their way of functioning to stay at the top.

    The new strategies being employed can be witnessed through the ‘trends’ that have captured everybody’s attention. Indian entrepreneurs are adamant about revolutionizing the eCommerce industry and experience for their countrymen, taking inspiration from their western counterparts as and when required.

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    Here are a few trends of 2020 that are collectively catapulting the eCommerce in India to another level.

    Innovation in logistics

    The customer orders an iPhone but receives a fruit instead. The blame directly or indirectly goes to the delivery guy who’s just a small part of the supply chain. Ecommerce players are realizing the importance of getting logistics done right since most of the customer complaints pertain to delivery issues. To sort it out, third-party logistics providers are turning up on the scene and are being hired by companies to micromanage the entire delivery process. The highlight to watch this year would be drones replacing delivery boys, overcoming hurdles such as traffic, transportation, etc. with relative ease. Hence, taking Ecommerce in india to another level.

    Ecommerce in India.
    ecommerce

    Video marketing

    Static advertisements are now becoming a thing of the past. Video marketing is gaining prominence, propagating and convey much more information than a normal ad. A 10-second advertisement can influence the audiences’ mind to an extent that wasn’t possible earlier. Don’t believe this? Pay a visit to sites that show what’s trending in India and what is going to be blocked soon in India and test out the effectiveness of such video commercials!

    Also read : Impact of Coronavirus outbreak on ecommerce in india

    Virtual trial rooms

    Not leveraging the potential of AI and machine learning in the modern-day means an outdated way of performing tasks. A lot of endeavors out there are concentrating on creating the perfect trail room experience, continually improving the entire virtual procedure to mimic the real-world experience. A major reason why offline shoppers are reluctant towards jumping on the online purchase bandwagon especially when it comes to clothes is due to the lack of ability to try out items before purchasing them. Virtual trial rooms are quickly going to tear down this inability of e-commerce sites.
    Virtual assistant: A chatbot or virtual assistant with the appropriate functionality can do more than just a “Hi there”; it can guide through the customer’s entire experience on the website, right from opening the catalog to finalizing the shopping cart. With the amount of research going on in Natural Language Processing and Artificial Intelligence, the number of conferences being held all over the world, universities rolling out certifications and specializations in these domains is a testament to the power that chatbots possess. Some websites have incorporated the same, showing that AI-powered assistants are receiving a positive nod. These advanced technologies are Ecommerce in India to grow more faster.

    Government support

    The current central government has been rolling out schemes one after the other. Initiatives such as Digital India, Make in India and others have strengthened the eCommerce in India. Various foreign companies are given canned to partner with local companies such as Walmart who purchased Flipkart, to increase foreign investments in India. Not only at the national level but at the regional level also, the state is organizing business summits to encourage eCommerce startups in India.  The PMOs’ insistence on digital wallets has caused companies such as Amazon, Flipkart to bring changes in payment gateways. Other effects will be felt for sure in the coming future.

    Also read : Deep Case Study on Why Startup Fails

    Industry partnerships

    Foreign corporations investing in Indian companies make headlines is becoming a common news headline.  The shot in the arm that Walmart intends to give Flipkart was the talk of the town for quite some time, and the legal broth it had stewed is a kind of incision revealing the difficulties involved in big mergers. By partnering with international firms, Indian e-retailers can leverage expertise and skills for their enhancement. It will give them chances to expand in their respective countries. The biggest problem is negotiation while remaining compliant with Indian rules and regulations.

    Big Data, Cloud and IoT

    With the extremely number of data that is being generated by online shopping sites, new visualization techniques and analysis tools are the needs of the hour. Storing the processed information calls for secure and reliable storage mechanisms is something that cloud service providers such as Amazon and Microsoft are known for. MNCs and startups alike are utilizing such high-end solutions for most of their needs. And as time progresses, the advancements are only going to reach unprecedented levels, allowing e-commerce organizations operating out of India to innovate and invent.

    Also read : A Complete Guide on How to Start an Ecommerce Business in 2020

    The rise of phygital stores

    This is the most updated trend that the current eCommerce industry is using is combining the online store with the classic retail stores, commonly known as phygital store i. e physical + digital stores. There are numerous times when we want to buy something but can’t because of the sizing or other issues. The phygital stores are the solution and these are growing rapidly. Online brands like firstcry, lenskart, Nykaa have started this and other brands are planning to do it soon. This gives the customer the satisfaction of buying things personally while for the company they get to retain their company.

    The rise of Social Commerce

    With the trend of providing high-speed internet by Jio and other brands, the period spends online has increased. The transition in the way online shopping is done in India is evident. From people thinking twice before sharing their credit card details in the payment gateway to youngsters and adults buying items in a jiffy through the comforts of their smartphones, e-commerce is shaping up for sure, and for the better. It would be interesting to see how new trends evolve over the years, and how they would contort the presence of e-commerce in India. Who knows, brick-and-mortar shopping outlets may soon become a thing of the past!

    Here’s is the reason why Jeff Bezos is Dominating Several Verticals Through Amazon.