Due to a large number of business opportunities, e-commerce has entered the Indian market. The challenges of running a business from home successfully have been identified by successful digital entrepreneurs. Starting an online business is not a tough task and anyone can do it with proper management and strategies implementation.
What is E-Commerce?
Before you dive into e-business, you must know what is included in it.
E-commerce includes any commercial transaction where information is transferred via the Internet.
This is one of the general descriptions, E-commerce can be of many forms such as a mobile app, website, or there are some real-life examples websites such as Amazon, Myntra, Flipkart, eBay and all the social media platforms such as Marketplace feature on Facebook, Shoppable ads on Instagram.
As a retailer there are many ways to sell your product online via the internet, the main benefit of selling online is you can easily meet the need of the customers and deliver the product to the consumer at anytime, anywhere.
There are mainly two types of companies or entrepreneurs who must now think about the opportunities of e-commerce.
- Traditional retailers who want their business to grow.
- Passionate or interested people communicate well in a specialty store or online.
Sellers can also register on different portals which include flipkart seller portal, paytm seller panel, snapdeal seller portal, shopclues seller portal, etc. By enrolling in marketplaces, there is high probability that seller can receive more orders and earn huge profits.
What Can you sell online?
The answer is almost everything. However, if you want to to sell online, the product must at least meet the following criteria.
1. Products related to your interests:
The first thing to do to get ideas about what you want to sell is to think about your hobbies and the things that are important to you. This can be a good idea because you have already invested in selling the products that interest you. You also have a certain level of knowledge that can help you make business decisions.
Once you have identified your hobbies, try to think outside the box to generate product ideas that are not clear. The more specific you figure it out, the better results you will get.
2. Products that you find on the internet:
Try products that sell well in popular online stores such as Amazon, eBay, AliExpress, and Alibaba. Of course, you don’t want to sell products that really do well in the highly competitive market, but often these popular products can give you ideas for comparable, additional and less competitive options.
3. Products supported by market research:
You can do market research or use a tool for a powerful research laboratory to do the hard work for you. The online tools use Amazon, Myntra, Flipkart and eBay data to determine sales levels, average selling prices and competition for a wide range of products. You can easily search by product category and specify special filters to determine which products you can certainly sell online.
Selling On Marketplaces Vs Own Web Store:
Now that you are ready to sell online, it’s time to make an important decision. Do you have to sell online at e-commerce markets such as Myntra, Flipkart or Amazon or do you want to create your own online store?
Advantages of selling on Marketplaces:
1. You can save on marketing costs when you use third-party platforms. All of these markets attract millions of visitors every day and have a permanent user base and you don’t have to worry about the payment gateway too. Most of these portals also offer packaging materials.
2. Myntra is one of the largest e-commerce companies specializing in fashion and casual lifestyle based in Bangalore, Karnataka, it is open as an e-commerce market, so today we will learn how to sell on Myntra as a seller and for that you must know how to register on Myntra.
3. Myntra ecommerce platform was founded in the year 2007 by graduates of the Indian Institute of Technology (IIT) with the aim of modifying gifts. In 2010, Myntra focused its attention on selling designer clothes online. In May 2014, Myntra.com partnered with Flipkart to compete with Amazon, which entered the Indian market in June 2013, according to Myntra Wikipedia.
Become a seller on Myntra:
Myntra is an online market that sells local and international brands with monthly traffic of around 32 million and, therefore, becomes an important marketing channel for all brands that work in the fashion and style sectors.
Myntra dedicated account managers provide detailed information about this category and inform you about the different types of promotions you can use to attract potential customers. If you register with Myntra then there is no myntra seller charges also, you automatically have the right to sell your products in Jabong, which is visited by approximately 3.5 million people.
Some of the benefits of becoming a seller on Myntra.com:
- There is no seller commission to register on Myntra.
- Myntra charges a fixed commission of 4% to 5%, depending on the category and brand of the product.
- Shipping costs are part of Myntra’s costs.
- Since Myntra is a B2B portal, the order is processed daily and requests must be submitted for this order. It is not necessary to collect orders and send them separately. In short, it is much easier with Myntra to send a large number of orders.
- Myntra works closely with your company and provides advice and trends in fashion.
List of advantages of using Myntra for sellers:
Flexible policy and there are some other advantages to sellers which Myntra offer. These are the advantages that Myntra offers to its sellers:
- Old stocks: Unsold securities can be sold in Myntra as long as Myntra rules and regulations are not adhered to.
- Minimum return: Mytra asure the sellers that even if your sales are low, all the sellers will receive the minimum return.
- Low installation costs: Total costs are minimal. You are not responsible for rent/land payment, shop preparation costs, staff costs and other costs associated with running a physical store during the sale in Myntra.
- Broad expansion: Myntra is ecommerce platform which has millions of users all across the country. Therefore, if you plan to sell your products in Myntra, you can contact the Myntra customer base, which can increase your sales.
- Total independence: After registering as a seller in Myntra, you have total control over your product. The platform allow you to manage your online profile, sales, the product catalog, the quantity and quality of all listed products on your profile.
- Fashion tips: Once the registration process is done, you can reach the creators of fashion trends. These instructions will help you design your product. It helps you balance your products by choosing them based on current trends.
- Advertising and marketing: As a seller, you have to sell your products and maintain quality. Myntra is responsible for social campaigns and the marketing of its product. Also, you can get the in-depth analysis of user behaviors to improve your sales on Myntra.
- Secure portal: For security purpose you need to verify your Pan card or Aadhar Number if you are a reseller. As this verification process it helpful in keeping the fraudulent sellers away from the portal.
Legal documents required to sell in Myntra:
- GSTIN of business
- Pan Card of the business
- Current account information such as contact name, account number, IFSC, bank name.
New seller myantra seller registration process:
- Once the provider registration process is complete, Myntra will contact you for the following steps.
- After completing the approval process, you have access to the corresponding website (Myntra partner portal).
- Myntra Tools helps you list your products and launch your company’s store.
- You can update your inventory, set prices and shipping costs and offer discounts at any time.
- Now customers can search for your products and make purchases.
- For the myntra seller charges, you must check the resource section.
Receiving orders and payments:
- You will receive orders after activating your shop.
- You will receive notifications every time you receive an order.
- Myntra packs the products, issues an invoice and sends it to the customer.
- Billing cycle: Myntra needs approximately 15 days to process the payment to your bank account after deducting the costs and other costs of the service.
How does selling on Myntra work?
Myntra offers full support to the seller of its product list to collect its products so that it works as follows:
A) The seller who is listing their products on the Myntra channel
B) The seller updates the stock and starts receiving orders.
C) Myntra collects the goods and delivers them to the buyer.
D) Payments authorized by Myntra, as well as support for working capital.
By Enrolling into Myantra Seller program.
Yes, myantra sells original and good products.
If you have TM Certificate of your brand then you can avail many option with it.
By Enrolling in the Jabong seller panel with list of required documents.