E-commerce and MSME how do they go hand in hand.
Since the pandemic hit us, we’ve been physically separated, thus coming to the rescue, e-commerce! Ecommerce has been around for quite some time, but during pandemics, the whole world revolved around it. Let’s talk about e-commerce and MSMEs together in this post.
Gone are the days when we felt insecure about entering our bank details for the transaction, only online for 2 years now! No wonder India has emerged as the world’s leading provider of real-time payments.
According to records, around 40 billion online transactions were made in India in 2021 alone. The world of e-commerce has completely changed the world around us. The way we buy or sell things! no intermediaries and no worry about getting a defective product. (well they are few exceptions)
E-commerce and MSMEs how do they go hand in hand?
Here are some advantages of e-commerce (customers and MSMEs)
Fast decisions with many options:
Remember the days when we buy a certain product but end up buying many others besides the one we wanted to buy? Could be the reason we didn’t get what we wanted. Well, online has many options to choose from. Not only the type and quality, but also the price. And that prompts many customers to shop online.
This in return gives the MSME more attention to explore their product and present customers directly with good description of the products, high definition images and also the how-to video to convince the customers.
Easy returns for e-commerce and a plus for MSME:
This is my favorite part. We all have this doubt that the product may not be as good as we touch and feel and buy! Right?? Well I was one of them. But the amazingly easy returns/exchanges through the e-commerce portal changed everything.
This adds up to MSMEs because they gain trust from their customers. Because the feedback is real-time, it’s much easier to investigate what customers want and how.
MSME with their website:
This one is a hit in most cases. Even the MSMEs have their website, thus establishing real-time interaction between the customer and the brand owners. All feedback goes directly to the company’s PR team.
Social media and MSME:
Hands down on this one. Social media plays an important role in every company, as well as in e-commerce and MSMEs. Building trust and direct contact with customers is important. Especially in the small companies.
Low cost for MSME when switching to an ecommerce platform.
A fact you need to know, setting up an online portal for the small business would be a lot less than setting up an offline store. Setting up a website is easy with your own ideas or with the help of someone who can.
Affordable Marketing:
In addition to setting up your own website, this is also part of the MSME. A high advertising budget is something that doesn’t work for them. Online advertising mode is one click as it requires less budget and high impact.
From now on, the marketers can also target desired customers and show the ads only to those specific customers.
This is written as part of BlogChatter #ECommerceBuildsEconomy
You can also check my post on MSMEs its role in the Indian economy and opportunities for women entrepreneurs
