A singular mantra had constantly been pierced in the minds of store owners: location! Site! Site!
The digitalization of the world, however, has restructured the hierarchy of needs of a retail entrepreneur in a way that both facilitates the ease of doing business and reduces the capital required to reach scale.
Before that, retail businesses were forced to incur sky-high rents, high operating and customer acquisition costs to be successful, and were also constrained by geographic boundaries.
The adoption of the “e-tailer business module” will allow SMEs and MSMEs to overcome these obstacles to create a pan-Indian clientele, a feat considered unimaginable in the age of brick and mortar.
With the growth of India’s e-commerce sector expected to exceed $ 300 billion by 2030, it is indisputable that digital online commerce is the future of retail.
The implementation of the proposed changes on e-commerce would allow SMEs and MSMEs to dive into a new digital world of endless possibilities. The digital marketplace has provided the local ecosystem with a chance to survive and thrive while competing with the Goliaths of the e-commerce industry.
Mutual trust and respect is fostered between buyer and seller by imposing a strict liability framework. Applying “fallback liability” as a remedy for fraudulent websites or even breach of pledge will certainly ease the minds of potential consumers.
The prescribed changes consist of rules aimed at preventing predatory practices such as the ban on certain flash sales and underpricing, a ban on discrimination by providers of logistics services between sellers of the same category as well as restrictions against manipulation of search results in favor of certain sellers in a marketplace.
This indicates a push from the institutional pillars of Indian society to establish a fair and equitable marketplace that will certainly inspire SMEs and MSMEs to enter the digital marketplace.
The impact the coronavirus pandemic has had on the world cannot be ignored. In recent years, the e-commerce industry has grown exponentially, and the pandemic has given e-merchants an unprecedented but much needed boost. COVlD-19 has led to the establishment of a new standard allowing purchases to be made with just a few clicks on our computers and smartphones.
We believe that the “e-tailer commercial module” is here for the long term. The convenience of the online platform is too great a benefit for consumers to give up.
The implementation of the proposed changes would go a long way in calming the mind of the consumer and convincing him of the reliability and reliability of e-merchants. This would remove the need to plan a trip to the store to trust the brand and then make a purchase.
The benefits of the “e-tailer business module” are too great to ignore. SMEs and MSMEs can now extend their reach to a pan-Indian level in a way that is lean and cost effective.
It was thought to be unthinkable in the brick and mortar era. We are convinced that SMEs and MSMEs must use COVID-19 to move their businesses to the digital market in order to take their businesses to the next level.
The digital ecosystem including Google, Facebook, angel investors, FinTech companies, performance marketing and logistics companies are all here to support SMEs / MSMEs who are ready to join the direct-to-consumer digital sector. to sell their amazing products with passion and empathy towards the retail consumer.
The pandemic has been truly horrific, but it needs to be used as an inflection point for us to look at this time as the time when many Indian SME / MSME unicorns were launched which in turn can lead to growth. explosive from India. economy.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)