E-commerce marketplace in India has seen tremendous growth in past few years. As a proof, it has been fueled by 1 lakh to 1 billion sellers, who have been on-boarded by this e-tail platform. Even though there are too many sellers, only Amazon and Flipkart come to our mind when we talk about online business.
Today, each and every e-commerce entrepreneur has the aim to beat Amazon and Flipkart. Can we really be like them? Yes, by understanding the pillars of the Amazon and Flipkart’s success, you can easily earn the incredible growth in your business.
Amazon Vs Flipkart-Pillars of their business success
- Customer Centricity– Obsessed your customer experience, prioritize their needs and desire.
- Innovation– Come up with new ideas and creative ways, but not for the sake of creativity or impressing stockholders.
- Corporate agility– Remain flexible and adaptable regardless of your business growth.
- Continuous Optimization– You’ll never be satisfied or settle for good enough.
Successful Strategy to Start an Online Business-like Amazon and Flipkart
The abovementioned mantras are just for creating pillars for your business. But, to gain market reputation, there are some guidelines to be followed with the proper planning.
- Both Amazon and Flipkart relentlessly focus on achieving customer loyalty. Many of the .com entrepreneurs failed in this part because they succeed in achieving awareness, but not loyalty.
- Have you noticed their website? It will be designed completely in a unique manner which includes manufacturer product information; customer reviews; 1-click technology; product reviews; online recommendation lists; wish lists; buying guides, etc. So, how can you achieve all those features? For this, you have to hire a reputed E-commerce Solution Provider.
- Always have a practice of bidding the lowest prices for the most popular products, higher price for less popular products.
- Like Amazon and Flipkart, you have to promote your business by using some marketing tactics such as Mobile marketing, Affiliate marketing, Social Media Marketing, Banner ads, newspaper or radio ads, etc. Printed ads for your business are well designed the by printing services in Sivakasi and promote your business to next level.
- Your site should include the links to the business’s social media pages. And offer a way to subscribe your daily newsletter to keep your customers coming back.
How to compete with these appealing agents?
Brand yourself as a Specialist
Amazon and Flipkart’s help to benefit from economies of scale, but such a wide scope will also be a weakness. With so many products for sale, choose a product that is very new to the customer.
For eg, Huckabay, follow this approach. He chooses a product that is found on both in Flipkart and Amazon- the GemOro Ultrasonic Jewelry Cleaner. He sells this product at $120, which is almost higher than Amazon. But, still, it manages well on Dave’s site.
Create your own product
It is undeniably hardest and most expensive way to get started with e-commerce. But, if you have a creative idea and the resources to wrench it off, then it is the best way to compete against Amazon and Flipkart. It also increases profits and growth opportunities.
Sell product with a Deeper Purpose
To connect with the core value of your targeted audience, you should develop a loyal and passionate customer base. This happens only when you sell the product based on some particular theme, to show your site unique.
For eg, take the concept called “upcycling”. Turn computer waste into light fixtures and bike sprockets into bowls. These can’t be found on Amazon or Flipkart. Highlight this product on your site and complete with them.
Despite all those strategies, you have to be smart about how well you position yourself in the market.