Monday, February 24, 2014

Survey report: How eCommerce portals & online sellers on marketplaces, can achieve profitability in 6 Month?

  1. The information as shared is relevant to Indian buyers only, International buyers survey report in next blog.
  2. Majority of the buyers want convenience; ease, trust/transparency, honest pricing & guarantee/assurance
  3. Ease is defined as; site & results opening fast in 2-4 sec to find the desired product
  4. Trust is defined as buyers feedback, resolution to complaints, response time, correct description of product, images
  5. Trust also includes reasonable shipping charges, however mostly prefer free courier. COD can be charged extra
  6. Ease of finding information about seller, address, telephone number, email id
  7. Policy/ terms & conditions about exchange, warranty/guarantee...address the key concern, what if; product does not arrive, does not function, stop working, repairable under normal wear & tear of usage 
Honey, making money it is all about mindset, we want to achieve resonable surplus in the entire exchange called  profit instead of low price & loss strategy to capture market share.
Myth Buster: All buyers want lower price. I am glad to share part-1 of survey done on online buyers, statistics will be shared in next blog article