What is eCommerce?
To start an eCommerce business in Nepal is not something that is really cut and dry. Anyone can create a startup or run an online business. The challenging part is to grow it into a profitable venture. Business is updating day by day into digital form. eCommerce is now a major part of the internet. It is the process of buying and selling goods and services through the internet.
eCommerce has transformed the way the business is being done in the developed world. Many countries and companies have started selling online. They have started home delivery, online payment, satisfaction guaranteed, and money back returns policy in eCommerce. A large number of people prefer online shopping. eCommerce should provide trusted and quality products over the internet.
Benefits of eCommerce
- Lots of choices or more variety
- The price will be standard for all customers
- Fewer taxes
- All-time reachable
- Easy to compare prices, products
- Reduce employee cost
- Save the transportation cost
- No crowd.
eCommerce in Nepal
In the past, due to the reach of the internet among the many people in Nepal has brightened the future of eCommerce. With the arrival of the latest technology, Nepal is on its way to success through eCommerce. Online shopping is taking the Nepalese market by storm. It facilitated fast inexpensive 3G and 4G internet technology.
The growth of the information technology(IT) companies has helped a lot in awareness. It increases interest in the young generation for the internet. IT has created more opportunities for the growth of eCommerce in Nepal is a good scope of eCommerce. It noted that 63% of the total population uses internet service in Nepal. This status proves that there is good scope of eCommerce in Nepal.
The current generation is completely belonging to e-services. Today every service and business is going the internet way. The eCommerce sector is growing at a rapid pace. People are showing more trust in the online marketplace. People are more in clinched towards purchasing online.
Everyone prefers e-service and e-governance which are the most preferred ways to connect to people around the world. Nepal is in completely growing stages of development. We need to update our business to growing needs of the new generation. There is huge scope of eCommerce in Nepal.
Using new technology, digital stores and interactive apps in Nepal. It is a huge boost in the sector of eCommerce. Many shopping portals and online portals are being launched. There are many eCommerce companies which have been successful. And there are many eCommerce companies which are developing and growing their reach.
Challenges of eCommerce in Nepal
Some successful eCommerce companies are Daraz, Sastodeal, Foodmandu, Muncha, Harilo, Nepflights, etc. in Nepal. There are some eCommerce companies which is still developing. Due to the lack of strategies and tactics, they are facing such kind of problems. They are doing good business along with providing the best services. A large number of people in Nepal still think twice before purchasing online. Despite technological advancement, security is still a concern in people’s mind. Various frauds are hampering the growth of eCommerce in Nepal. There is a large chunk of the population who belong to rarely purchased from online stores in Nepal. Few who tried have discontinued using the online platform due to bad experience fueled by bad customer service. It’s not that these populaces don’t want to buy online. The online channel provides more leverage like saving time and ease. It’s been more than 15 years of eCommerce evolution in Nepal but still, we are growing at a snail’s pace. According to research, more than 40% of the population who have internet access still don’t buy from online. Those who have bought from online more than 40% are dissatisfied.
Some of the major challenges of eCommerce in Nepal are:
- Lack of product reviews on the website
- Delivery challenges
- Confusing return policy
- The need of touch and feel aspects of customers
- High bounce rate
- Lack of availability of the product in the warehouse.
How to scale your eCommerce business
The eCommerce sector is still in its initial phase in Nepal. Companies are trying their best to earn people’s trust and establish themselves. ECommerce companies should develop their strategies for business. They have to provide proper awareness to customers about their products. They need to gain their attention and provide trust to customers.
For successful eCommerce, you need to scale your business. The business should reach as much as wider to gain more reach. If more people know about your business then you will reach more business traffic.
If you want to scale your business then you need to follow some of the following tips.
1) Research market needs and people’s problem
Before doing eCommerce, you need to look for the problem in customers. Their problems provide the need. User need is important factors while doing eCommerce. You have to make sure about what kind of product you are selling.
The product of your business site has to match the expectation of the customers. Search for people problem. So that you can find a matched solution.
2) Create and develop a solution to their problems with content, product or service
Develop such solution which helps customer for easy and reliable. Find the solution to the problem and about their requirements. You need to invent a solution to a people problem. If your product solution match with customer need then there is a chance of the high need for your product.
3) Test your solution in real life
After you invent the solution according to the need of the customer. Then, test it in real life. If the customer is satisfied with your solution, you can further update your business.
If You’re Not Meeting Your Visitors’ Needs, It Doesn’t Matter How ‘Optimized’ Your Site Is.
4) Regulation of product
You need to give regularity on products according to the demand of customers. If there is more demand for product you need to back up. So that out of stock problems cannot face. Sometimes it is better to change products types. Provides a latest and new designed product to the customer. The latest designed product will hit trending in the marketplace.
5) Maintains high-quality products
In Nepal, there are main issues on quality of products. People are not trusting eCommerce because of a quality issue. The most faced problem in Nepal is that customers are not getting what they see online. Products are different when the customer ordered and receive it. So, maintain high-quality products only in your shop as well as provide as you show to customers. To gain customer trust keep maintain high-quality products only.
6) Making a wonderful first impression
The first impression is always the last impression. Make your products look beautiful and good. Make a strong presentation for products. In eCommerce, customer cannot touch and feel your product. You should have to give proper details about your product in a presentable manner. Then, you and your product will grab the attention of customers.
Provide high-quality pictures of products. Then the customer can trust after looking at the only picture of products. The product should be neat and clean. Provide proper details about the stock of your product whether it is available or not.
Advertisement is the main resource to provide information about your product and business. Promote your business before you launch and after launch. Before launch promote your business like coming soon, online advertisement. People will be aware of your product. Interested customers can wait early for its launch.
After you launch your business, promote your product and store. Email marketing, display marketing, social media marketing, etc. are the best platform to advertise your business.
Social media marketing is the process of leveraging the network to interact. Its increased traffic and sales to websites. While social media can use to promote the product. It is a place to interact with users and tell them what makes your brand unique.
There is a huge amount of user in social media. It is easy to reach wider with the help of social media.
8) Securing your shipment
A secured website is secure to do eCommerce. It provides security to both user and customer. Use a secure mechanism in the admin panel of your websites. It is better to provide a secure process to customers for their better experience and safe from hackers.
Customers personal data should be secure with only with you. Personal data is not for sharing with others without the permission of customers.
9) Taking advantages of eCommerce
In Nepal, the number of mobile phone users is 34 percent higher than the total population of the country. This happens when a single person uses more than one mobile.
The Nepal Telecommunications Authority says there are more than 38.3 million mobile phone users. Meanwhile, the total number of users of all kinds of telephone services is 39.2 million. People are using mobile because it is portable so that they can carry anywhere they want.
If your eCommerce is ease of use for mobile and tablets then nothing can stop to grow to scale your business. Because most people do online shopping with their mobile. It is easier and more portable to use mobile commerce. So, make your website mobile-friendly.
It is better to make a mobile app for your eCommerce site because of the demand and use of mobile in the world. Customers can reach you faster to you with mobile applications.
Home delivery is the way to end travel time of customers. It shouldn’t take more time to deliver the product. The customer wants their order as fast as possible. The delivery of the product should be faster. It should be delivered to the exact location of customers. Customers love to receive their product in good packaging. So, pack the product and deliver the product within committed time to the customer.
You have to make payment online or cash on time. There are many digital payment methods which are ease of use. Besides digital payment, credit card, master card, etc. can use for payment of the product.
In Nepal, much digital payment mobile app and online procedure are developed. It is easy and faster to use these types of services in eCommerce. Different payment app now available in Nepal is E-Sewa, Khalti, Prabhupay, IMEpay, etc. Some of these apps provide cashback and bonus points while paying from them. It is more interesting doing eCommerce with digital payment.
The return policy should make whether it will return or not. If it does not reach customer expectations. Customer refuses to take those types of product which don’t match their expectations. Make those policies for the customer about refund and returns of the products.
Some companies forgot to put rating scale on their website and products. People will attract more for the high rated product. Those ratings are based on customers review itself. So, make a rating review on your product for customers. Customer who buys your product can rate according to their satisfaction with your product. This scheme will make a positive effect on your business.
People always love to buy high rated and having good review products. To provide a good impression to the customer use rating and review field in your website and products too.
Is your product matching customers expectation? If you are getting a proper review from your customer about providing satisfaction. Then will able to develop your business in the advanced marketplace. More customers will reach to you. It is better to show the review that you are getting from the customer in your product and site.
Most of the website in Nepal are not using rating and review properties in their products and website. Which makes confusion to a customer about the product. So, provides proper information about your product. Provides review section for the customer about their experience with your products while buying it.
eCommerce is a practice which no one can escape and avoid. It will adapt to the market either today or tomorrow we must adapt to it. Time has come to take your business online, start your online shop today. It’s time to go online, sell online, Payments should be easy.
Every individual’s trust must be built by business owners. Every business will have to adapt and think about their online existence in the future depending on the nature of business.
It will not be too long, there will be a boom in the trend of eCommerce business soon in Nepal. There is an immense opportunity for eCommerce in Nepal. There has been some tangible progress too. Technology will change. But the principles of how to start an eCommerce business will always remain the same. So focused on your goal, follow the principles and strategies. eCommerce is growing to the next level in Nepal.