Since the pandemic hit us, we have been physically disconnected and thus came to the rescue, the e-commerce! E-commerce has been around quite some time but it is during pandemics the whole world revolved around them. In this post let us talk about E-commerce and MSME together.
Gone are those days when we felt insecure about entering our bank details for the transaction, from the past 2 years it has only been online! No wonder India has emerged as the world leader in real-time payments.
In the year 2021 alone, records show that around 40 billion online transactions were done in India. The world of E-commerce has changed the world entirely around us. The way we buy or sell things! no middle persons and no worry about getting a defective product. (Well, they are few exceptions)
Here are a few benefits of E-commerce (customers and MSME)
Quick decisions with many options:
Remember those days when we go to buy a particular product but end up buying many others except the one, we wanted to buy? Might be the reason, we did not get what we wanted. Well, online has many options to select from. Not just the type and quality but the price also. And this makes many customers go for online shopping.
This in return gives the MSME more exposure to explore their product and put Infront of customers directly with a good description of the products, high-resolution pictures, and also the How-to video for the convince of the customers.
Easy return for the E-commerce and a plus point to MSME:
This is my favorite part. We all have this doubt that the product might be not as good as we Touch and Feel and Buy! Right?? Well, I was one of them. But the amazing easy return/easy exchange by the E-commerce portal has changed it all.
This adds up to the MSME because they gain trust over their customers. Since the feedback is in real-time it makes it much easier to study what the customers want and how.
MSME having their website:
This one is a hit in most cases. Even the MSMEs are having their website and so it makes the interaction between the customer and the brand owners connect in real-time. All the feedback directly reaches the PR team of the company.
Social Media and MSME:
Hands down to this one. Social media plays an important role in any business and so does it in E-commerce and MSME. Establishing trust and direct contact with the customers is important. Especially with the small businesses.
Low cost for MSME when they go to an E-commerce platform.
A fact must know, setting up an online portal for the small business would be much less than setting up an offline store. Setting up a website is easy with one’s ideas or taking help from someone who can do it.
Apart from setting up own website this too adds up to the MSME. Having a high budget for advertising is something that will not work for them. The online mode of advertising is a click as it takes less budget and high impact.
As of now, the marketers can also target desired customers and show the ads only to those particular customers.
You can also check up my post on MSME its role in the Indian Economy and opportunity for women entrepreneurs