The rise of the internet has revolutionized the way we shop, leading to the growth of e-commerce. In order to stand out in the crowded market, creating a successful online store demands a well-thought-out plan. In this blog, we’ll delve into the realm of e-commerce and examine strategies that can help business owners in creating successful online ventures.

1) Researching the Market

In order to learn more about the target market, consumer preferences and competitors, market research entails obtaining and analyzing relevant data. Entrepreneurs can make informed judgments and create strategies that fit the needs of the market by conducting thorough market research. Let us now look at the different ways in which market research can help you: 

• Target Audience: Identifying the target audience is the first step in market research.  It involves understanding their demographics, interests, purchasing patterns and pain points. Tools like Google Trends, social media analytics and market studies can give us important knowledge about consumer preferences and behavior. By understanding your target audience you can adjust your product offers, marketing messages and customer experience to match the needs of your target audience. 
• Competitor Analysis: Another important component of market research is competition analysis. Finding market gaps, analyzing pricing plans, assessing product range and quality and understanding competitors’ marketing methods are all made easier by researching the competition. You can use this information to differentiate your online shop and develop a special selling proposal. Finding your unique selling proposition will help you position your company well and draw in clients.
• Spotting new trends: Market research also helps in spotting new trends and business prospects. You may stay ahead of the curve and modify your strategy as necessary by keeping an eye on market trends, customer expectations and technological developments. This can include utilizing fresh channels, adding new products, or applying cutting-edge marketing strategies.

2) Optimize User Experience

Enhancing user experience (UX) involves making your website  easy and  satisfying to use for visitors and clients. Increased engagement, improved conversion rates, and client loyalty are all results of good user experiences. While focusing on user experience optimization for your e-commerce store, keep the following points in mind:

• Website design: Make sure your website is both user-friendly and aesthetically pleasing. To make it simple for users to find products, make use of clear navigation menus, a logical site layout, and prominent search capabilities. Maintain a simple, clutter-free layout that highlights important information while preventing the user from being overwhelmed. Slow-loading websites can cause frustration among users, which can increase bounce rates. The performance of these websites can be improved and made faster, by reducing the amount of code on your website, compressing images, and utilizing caching methods. Fast loading times enhance user experience overall and benefit search engine rankings.
• Mobile Responsiveness: It is essential to have websites that are mobile-responsive given the growing use of smartphones for online commerce. To ensure a consistent user experience across devices, adapt your website to different screen widths. Make sure that all components, including buttons and images, are simple to reach.
• Product Information: Give thorough and accurate product descriptions that include information on the dimensions, composition and other specifications. The use of high-quality product photographs taken from various perspectives can help shoppers in making wise judgments. To increase credibility and confidence, include client testimonials and ratings.
• Simplified Checkout Procedure: Make the check out procedure as simple as possible to reduce cart abandonment. Enable numerous secure payment choices, reduce form fields to necessary information and enable guest checkout options. Show a progress bar to remind users of the current stage and, if possible, provide a simple one-click purchase option.
• Customer Support: Make it simple for clients to reach you with inquiries or complaints by offering customer support. Multiple communication methods should be available, such as live chat, email and phone support. To improve the overall experience, respond to consumer inquiries quickly and professionally.

3) Digital Marketing

Different strategies and techniques are utilized in digital marketing to advertise goods and services on the internet. Some essential components of digital marketing are listed below:

• Search Engine Optimization: The goal of search engine optimization (SEO) is to make your website more visible in search engine results. You may enhance organic traffic to your website by utilizing suitable keywords, producing high-quality content, and optimizing meta tags, titles, and descriptions.
• Content marketing : This is the process of creating and sharing  useful, educational, and interesting material in order to draw in and retain your target audience. This can include articles, blog entries, videos, infographics, and any other content. By using content marketing, you may position your brand  better and connect and build trust with your audience.
  
• Social media marketing: This gives you the chance to connect  and interact with your target audience through sites like Facebook, Instagram, Twitter, and LinkedIn. You may increase brand recognition, increase website traffic and create leads by producing and sharing relevant content, running targeted advertisements and communicating with your followers.
• Pay-Per-Click (PPC) advertising: PPC advertising entails placing advertisements on social networking sites or search engines and paying each time a user clicks on your ad. Websites like Google Ads and Facebook Ads allow you to target particular keywords, demographics and interests to make sure the correct people see your advertisements.
• Email marketing: To nurture leads, develop relationships and increase sales, tailored emails are sent to a subscriber list. You may boost consumer engagement and conversions by distributing personalized and pertinent material, such as newsletters, discounts, or product recommendations.
• Influencer marketing: Working with influential people on social media to promote your goods or services is known as influencer marketing. You may reach their engaged audience and increase brand exposure and revenue by utilizing influencers’ credibility and reach.

4) Adopting an Omnichannel Strategy 

Adopting an omnichannel strategy involves combining numerous sales and marketing channels to give customers a seamless, uniform experience across all touchpoints. Here are some reasons why adopting an omnichannel strategy is essential for creating a successful online store:

• Broader Audience: You can sell your goods or services to a larger audience by using a variety of channels, including your ecommerce website, well-known marketplaces, and physical storefronts. Each channel offers a chance to reach out to various customer groups and raise brand awareness.
• Experience Consistency: An omnichannel strategy makes sure that customers have the same experience no matter which channel they use. Consistent branding, message, and customer service are all part of this. A smooth experience raises client happiness, fosters confidence, and encourages repeat business.
• Increases convenience for customers: Customers can choose the sales channel that is most convenient for them when many channels are offered. While some customers may prefer visiting a real store, others may prefer browsing and making purchases online. By offering options, you can accommodate a range of tastes and make it simpler for clients to interact with your company.
• Data Integration and Insights: An omnichannel strategy makes it possible to combine customer data from many channels. This collected data offers insightful information on consumer behavior, preferences, and purchasing trends. You may customize marketing messages and suggestions, improving the overall consumer experience and boosting 
• Competitive Advantage: Adopting an omnichannel strategy separates you from competitors who might be constrained to a single channel. It proves your dedication to satisfying consumer needs and delivering a smooth experience. You can attract clients that value convenience and accessibility by providing a variety of touchpoints. your chances of making sales.

5) Staying up to Date with Current Technologies and Trends

Building a successful online store requires keeping up with trends and technologies. The e-commerce landscape is constantly shifting and evolving, with new trends, devices and technological advancements appearing frequently. Here’s why it’s important to stay updated: 

• Competitive Advantage: You can outperform other online shops by staying current with trends and technologies. Knowing what’s fresh and popular in the industry enables you to provide cutting-edge features, embrace cutting-edge platforms, and maintain a competitive edge.
• Customer Expectations: As new technology and trends emerge, consumer preferences and expectations change. You can comprehend and adjust to shifting customer behavior by keeping up with the times. This makes it possible for you to deliver improved customer experiences, tailored recommendations and practical buying options that are in line with the customers preferences and expectations.
• Enhanced Productivity: The use of new technology and techniques frequently results in increased productivity. By remaining informed, you can use automation, analytics and other cutting-edge solutions to improve customer service, streamline processes and manage inventories more effectively. Costs are reduced as a result, and operations are more productive.

In conclusion, a thorough strategy that includes user experience optimization, digital marketing, omnichannel strategies, market research and keeping up with the newest trends and technologies is needed to build a successful online store. Entrepreneurs can position themselves for success in the cutthroat e-commerce environment by comprehending the target market, delivering excellent customer experiences, putting into place efficient digital marketing techniques, extending sales channels and embracing innovation. To succeed in the always evolving world of e-commerce, keep in mind that creating an online store is an ongoing process that calls for constant monitoring, adaptation, and customer-centricity.

Here, at GoodWorkLabs we understand the needs of online retailers and offer end-to-end solutions for it. We carry out market research and examine the requirements of the target audience to help in creating the perfect platform strategy. In order to provide a seamless user experience, we design and construct reliable e-commerce websites and mobile apps. We also provide integration services to link the online business with different payment processors, delivery companies and inventory control programs. 

Our clientele includes e-commerce & retail companies like Flipkart, Myntra, 1MG, Licious, Paytm, Decathlon, etc. By using our expertise we have helped our clients transform their businesses and build seamless and successful ecommerce platforms. For more information please visit our website. 

From visiting a Kirana store and waiting in lines to ordering groceries on mobile applications with just one click, all of us have come a long way. The advancement in consumer behaviour and practices have changed over the last decade and the growth in the number of online consumers is something which we have not witnessed in history. This growth and development can be credited to the e-commerce industry. But what have entrepreneurs and enterprises been using to develop these e-commerce stores?

Magento is one such reliable platform on which ecommerce businesses are built. It’s a platform designed to help small, midsize and enterprise level businesses make it big in the e-commerce industries. The Adobe owned platform powers close to 250,000 online businesses and is preferred by many entrepreneurs and businesses worldwide.

Magento is specifically designed and developed to help e-commerce platforms grow by providing useful analytics, scalable technology and optimal solutions to manage a heavy backend while fulfilling consumer needs. If you’re a dreamer who’s reading this article to build your e-commerce store, we’re here to help you and tell you why Magento is one of the best things that can happen to your business.

Giants using Magento

Magento is used worldwide and there is no doubt that it’s one of the best tools to build your e-commerce. Many of the biggest players of the industry like cocacola, Ford, Nike, Nestle Nespresso etc have relied upon magento to build their ecommerce platforms.

Why use Magento?

There are many reasons why Magento is used at this scale and is the choice for every e-commerce store owner. Some of the reasons are listed below.

1) Open Source

“Good things are never free.” Well, this is not the case here. The Magento community edition is open source i.e. free to download and use. This renders the development cost of the website to a bare minimum and the owner can think of better ways to use his/her money. The free edition can be downloaded from here.

2) Scalable Tech

One of the reasons why writing code for e-commerce websites is an onerous task is that the code written should be scalable and should be optimised to handle large chunks of online traffic. Magento is designed to be scalable and hence websites deliver efficient and fast services to its users. It’s no wonder why even big companies with complex operations and high amount of traffic deploy a Magento website to sell products and services.

3) Community

Being open source is one of the strengths of Magento. People all around the globe use it and help other developers to grow in the field by developing free and cool extensions to integrate with your Magento e-commerce store.

4) e-Commerce friendly

Though WordPress might be the best content management system being offered out there, it is no Magento. Magento is specifically designed for building e-commerce platforms and hence has inbuilt features and actions that a developer can use to provide business solutions. This is why Magento is now preferred over ‘WordPress + WOO Commerce’ and ‘Drupal + Drupal Commerce’ combos. This is one of the major reasons why the number of Magento websites worldwide have doubled from 2017 and 2018.

5) Performance

A fraction of a second might be the difference between an interested lead and a converted customer. Hence, if you want to convert that doubtful lead into a happy customer, using Magento is probably a good idea. Magento with its highly optimized and scalable tech renders web pages on your device within an eye blink. This is one of the reasons for a higher conversion rates of websites developed in Magento.

6) SEO Friendly

Search engine optimization is one of the aspects of an e-commerce business that cannot be neglected while making a choice of a platform for your e-commerce store. Magento comes with inbuilt features to develop SEO friendly URL structure, sitemaps, positioning layer, URL rewrites, tags, descriptions, etc. Also, there are a multiple set of extensions to optimize your website’s rank on a search result page on Google and other search engines. We advise you to use these functionalities to the best of your capabilities to increase sales.

7) Ease of integration

Managing an e-commerce store is not an easy task and entrepreneurs depend on different specialised systems for keeping an eagle view of their website and its performance. However, Magento doesn’t fail here too and provides all specialised systems integrated on one single dashboard. Magento is compatible with a plethora of third-party services including payment gateways, transportation, database applications, shipping, order tracking etc. Also, keeping an eye on the websites performance is imperative and hence Magento offers Google tools such as Google Analytics, Google Checkout, and Google Base built into its system.

8) Billing in Multiple Currencies

Technological advancements have made the world a smaller place and businesses can now sell their products to anyone. Hence, consumers should be able to get billed in varied currencies without any hassle. Magento provides developers to integrate payment gateways which can be used to bill in multiple currencies.

9) Multi store millionaire

If you have a pipeline of ideas and products in varied fields and want to set up separate e-commerce stores, Magento is here to facilitate your dreams. With Magento’s content management system you can set up multiple stores for yourself with just one backend. This helps companies to perform enterprise level operations on different stores with utmost ease and pleasantness.

10) Size doesn’t matter

Magento websites are responsive to screen sizes and don’t lose any functionality or efficiency if your consumer operates through a desktop, laptop, tablet or even a mobile device. Also, inbuilt features help you track your consumers’ preferred devices and in turn help you optimise design and layout of your website specific to your consumer needs.

Summing it up

Magento is an Adobe owned platform that powers about 250,000 web stores worldwide. The inbuilt features along with the ease of integration provided by the platform results in a lethal combination for building a successful online store. All this being open source too, help entrepreneurs in cutting development costs and generating sales with higher conversion rates. 

If you’re a dreamer and wish to accomplish success with an e-commerce store, this is the last day of your hustle! We at GoodWorkLabs help dreamers like you to reach at the top of your e-commerce game by developing Magento websites. The team of experienced Magento professionals is equipped with decades of experience in this space helping different websites stand out in the huge crowd. So let’s build your dream with Magento!

The Importance of Retail Data Analytics

A correct set of retail data is sufficient to figure out if a customer is going to purchase from a store or will visit once again. Whenever folks go out shopping, they want to have an experience which is convenient, informative, and personalized. A retailer cannot provide a personalized experience if he does not have access to retail data analytics technology for obtaining information about particular shoppers and end users.

As compared to traditional retailers, e-commerce retailers find it easier to track and obtain information related to individual shoppers. This is because web technology makes it very easy for these e-tailers to gather data regarding customer purchases.

Web technology is also able to track the device through which customers access the website. What a customer went searching for from the showcased items to the time he spent on the site, every minute detail can be tracked. All this helps to understand customer persona and preferences at a deeper level.

With all this data, e-commerce websites are then able to deliver targeted emails, advertisements and personalized deals for customers, thus luring the customer to check out and make a purchase.

Access to such retail analytics helps in two things-

1) increases customer stickiness on the website with a personalized shopping experience and

2) increased sales from related items based on previous customer purchasing data

Video streaming services like Netflix are great examples where algorithms related to recommended videos drive more user engagement. All these benefits of data analytics are complicated to be derived from a physical store.

In short, the absence of data analytics technology can impact the physical store retailers negatively as they may not be able to provide a great experience to customers.

The use of Beacon Technology in Retail Analytics 

Store beacons are a piece of retail analytics technology which is becoming more and more popular in retail stores all over, mainly because of the multiple uses these beacons provide to the retailers. For instance, the tags can figure out those parts of your store that are busiest with the maximum number of customers.

This is a small detail, but it can help the retailers to a great extent. Such information can help store owners adjust and modify their display with products which they want the customers to be aware of. Promotional goods, for example, can be placed in areas where the traffic of customers is high usually.

The data collected through these beacons can also be used to monitor the traffic at particular hours of the day. A retailer with such a piece of information can plan out the allocation of his workforce and also the best position inside the store to place his items. 

These beacons can also be well-integrated into the mobile phones of shoppers. Once connected, customers can be sent welcome messages. Not only that, even reminders to purchase some particular items or any promotional offers available can be sent to these customers through the in-store beacons.

We are still not done. The beacons also provide help to trace the physical path through which a customer roams in the store while making his purchases. This is again a useful function as it helps to obtain and analyze specific shopping behaviors of particular customers while visiting a retail store. Walmart and Amazon Go stores have already been utilizing this piece of technology to yield significant benefits.

Amazon Go, in particular, has tweaked the use of beacon technology. Because these stores operate in a cashless manner, every customer gets a barcode scanned while entering the store. This barcode is on the Amazon Go app in the visiting shopper’s mobile phone. The customers then shop for their items and leave the store. A countless number of cameras inside the store track customers and their behavior.

It analyses all information such as what items they picked up, what they finally bought, and the items which they left behind, all of this os crucial information which gets recorded with the help of these cameras. Sophisticated computer systems take the data from the weight sensors to evaluate which products have been removed from a rack.

The moment a particular customer leaves the store, they are automatically charged for all the products which they have purchased. This is the closest a retail store can come to an e-commerce website, all of which is possible with the right technology.

Omnichannel Experience with Retail Data Analytics

If new retail analytics and reporting technology are merged cohesively, a considerable amount of data can easily be collected. This data will be capable enough to monitor every little piece of detail related to the behavior and buying preferences of customers. All of this data can be obtained from just one visit from a consumer.

Thus, with retail data analytics, stores can create an omnichannel shopping experience for customers. With smart stores, customers can have easy and cashless checkouts. Amazon Go is a great example. It gives customers the same online experience with its high-tech offline store.

Challenges with the adoption of Retail  Data Analytics

A lot of innovative products are there to help retailers who wish to have a better understanding of the customers visiting their stores. The issue is that only huge companies have financial resources where they can test and put the new technology-driven solutions to use.

The progress of these latest tools for retail analytics and reporting technology is pretty slow. What cannot be denied though, is the fact that technology is essential for any retailer today. If a customer does not receive an experience which is according to his expectations, no retailer will find the customer coming back to his doorstep.

Retailers should consider technology as an investment through which they can offer customized options according to customers’ preferences. Brick and mortar stores need to have the best retail technology possible without which retailers will not be able to provide the desired customer experience. 

If you are looking for data analytics solutions for your business, then GoodWorkLabs can help! Send us a short message with your requirements and our data analytics team can help you with a free consultation on the best data analytics solution for your business.

The current market is saturated with ecommerce businesses. In the year 2012, ecommerce businesses were growing at the rate of 21.1%and for the first time crossed the $1 trillion mark. However, this is just the start and it is estimated that by 2016, more than 15 million people would be hopping online. The growth of online businesses has also led to a parallel growth in the ecommerce OS product line. Today, with so many ecommerce OS platforms available, coming up with the best choice can be an overwhelming task. However, the choice you make with be the Reason for the success or failure of your business. Here’s the top 5 pick when it comes to Ecommerce OS:

1.     Magento

The unquestionable leader, Magento is currently the core of more than 150,000 businesses globally. The platform is highly powerful cost effective and flexible to address the varying needs of several types of industries and product lines. Magento was officially launched on 31^st March, 2008 and within a year; it was adopted by more than 30,000 businesses. Some of the top brands using Magento at their backend processes include Nike, Olympus, Samsung, Nespresso, Stussy, The North Face and Office Max.

2.     OSCommerce

Among the oldest ecommerce platform, OSCommerce was launched in 2000 and had been the leader of the pack until Magento came into being. By August 2008 (Magento still in the developing stage), OSCommerce accounted from more than 14,000 ‘live’ websites. Today, OSCommerce has a huge community of developers that make it a flexible, secure and highly supportive ecommerce platform. OSCommerce, being open source, is free to download and avails premium quality templates, plugins and add-ons to make website and web application development a breeze.

3.     OpenCart

OpenCart is incomparable to other sin its own way. A highly secure ecommerce solution, OpenCart allows businesses to start their online business with ease and also link it up with ecommerce functionalities. OpenCart can be used with any web server that supports MySQL and PHP. Further, OpenCart is available as free software and in several cases, have proved to be the best choice for ecommerce startups. The platform allows merchants to create unlimited categories, sell unlimited products, support several currencies, read various languages and establish an effective means of payment and shipping.

4.     Zencart

Similar to OpenCart, Zencart is another easy online store management system that specializes in a more user friendly interface and a variety of options for customer management. If you are looking to regularly campaign with coupon codes, discounts, newsletters, email orders, etc, Zencart makes it a very easy process. Zencart is extremely easy to understand, use, install, modify and customize. Entrepreneurs with limited technical knowledge too can hope to create a successful ecommerce platform using Zencart.

5.     WordPress

Launched as a blogging platform, WordPress today has curved to become a tremendously powerful CMS system. With a huge range of plugins, templates and ad-ons, WordPress boasts the same standards in CMS as Magento does in retailing. If you are looking to establish a easy, attractive and highly functional website, WordPress should be the first choice.

Top 7 E-Commerce Websites in India

Recent years have seen an exceptional evolution in the way India trades and shops. E-commerce is one of the rapidly growing sectors, stimulating an entire generation of entrepreneurs, large scale manufacturing of small and medium-sized enterprises. E-commerce has enabled helped reduce barriers and bring the manufacturer closer to the customer. The presence of a virtual store on e-commerce websites has helped millions of business flourish in India and has led to more employment opportunities as well.

Today, technology has advanced at a rapid pace and with the use of smart phones, the online shopping experience has become seamless for customers. With easy to use mobile apps with elaborate store catalogs, e-commerce has ushered new opportunities for both traders and consumers.

India is one of the largest markets of e-commerce players. With giants like Amazon, Flipkart, Snapdeal, and Myntra, new entrants like PayTm Mall, Shopclues, etc are also establishing a strong hold in the Indian market.

1. Amazon

Amazon is one of the biggest online stores with a global presence. It not only provides a variety of product choices but also provides a great user experience and splendid customer service. Besides putting prominence to personalization, Amazon also monitors user’s browsing and purchase patterns in order to provide them recommended products for future purchases. It operates in India as a marketplace rather than a retailer.

Amazon has started two new initiatives for sellers in India: the ‘Self Service Registration (SSR)’ and ‘Amazon Easy Ship’.

Amazon SSR allows sellers to self register in Amazon marketplace, irrespective of location and size of the catalog. It enables sellers to start selling within a day without any third party intervention. With Amazon Easy Ship, the seller has to pack the shipment and confirm to Amazon that they are ready to ship. Additionally, many premium IT companies offer tools and services to enhance the selling experience, helping sellers optimize their operations and reach a wider audience. Amazon Logistics ensures that the pack is delivered to the customers within two to three working days. With new features such as Amazon Prime, customers can receive delivery of products within 24 hours. By reducing the shipping time, Amazon keeps both retailers and customers happy and increases customer stickiness on the website.

Right from mobile phones, to fashion products, electrical appliances, books, and grocery, Amazon has become a one-stop shop for all consumer needs.

2. Flipkart

Flipkart is an Indian based e-commerce venture and over the years, it has garnered a lot of interest in the minds of Indian consumers. It has opened up the scope for Indian e-tail market in a tremendous way. It started out as an online bookstore and now it has a gamut of products ranging from: books, apparels, electronics, digital music, home care and beauty. Moreover, it has now become a mega marketplace.

Flipkart’s fundamental differentiator is its supply chain efficiency— definitive delivery of goods. It has been continuously developing and improving the customer experience. The website is easy to browse, hassle-free, and convenient.

Two of the most important reasons for Flipkart’s grand success are the discounts and the option of Cash- on- Delivery which makes consumers more confident in purchasing products. Flipkart has an amazing customer retention rate with 70% of repeat customers.

Apart from the shopping experience, Flipkart’s biggest online shopping festival – Big Billion Days is one of the most successful campaigns and it churns out millions of orders during that shopping season.

3. Jabong

Jabong came into the e-commerce market with a bang and created a revolution within 6 to 7 months of launch. Besides selling products on their own through inventories, Jabong is also an online marketplace for third-party sellers. They predominantly cater to apparel, footwear, jewelry, and accessories and catalog more than 50,000 products across 700 brands.

Jabong is known for its own logistics network that ensures fast delivery. If you are in a city like Delhi, you are bound to receive the product within 24 hours of order placement. Jabong is also trying to expand its international presence through its site ‘JabongWorld.com’. It ships Indian products to international customers.

One of Jabong’s uniqueness lies in its new idea of a fashion magazine— “The Juice”an interesting blend of fashion, people, trends and pop culture. The magazine has everything in it that readers would love to read in a fashion magazine. Jabong has also collaborated with films such as “Bhaag Milkha Bhaag”, “Main Tera Hero”, and “Humpty Sharma ki Dulhaniya” to offer exclusive products inspired by the movie.

The various payment gateways offered by Jabong have made it convenient for consumers to order products from the website. In 2016, Jabong was acquired by Myntra.

4. Snapdeal

Snapdeal is a successful e-commerce portal catering to customer’s buying needs at a much wider aspect. It was established with a concept of making products available to the customers at a discounted rate through offers and Snapdeal coupons.

It gives you the best deals in a particular city in various service categories ranging from: restaurants, spas and salons, apparel, footwear, baby care, home and décor. It has adopted the marketplace business model. Snapdeal came up with a unique idea of permitting local vendors and manufacturers to publish their product catalog and sell it on the Snapdeal portal. This avoids expensive costs involved in building own inventory.

Snapdeal’s business model was awarded with mammoth funding to scale up their products, business and operations. It focuses on logistics and efficient delivery to customers.  It operates in such a fast pace that a new product is added in every 30 seconds.

5. Myntra

Myntra is one of the largest shopping e-tailers in fashion and lifestyle merchandise. It supplies a wide range of products from clothing to footwear and accessories. It focuses on bringing the most fashionable brands for its customers. In 2014, Myntra was acquired by Flipkart.

Myntra has created a niche in the territory of e-commerce and subtle trust from people. Additionally, from discounts to Cash-on-Delivery benefits, the Myntra success mantra belongs to its hybrid logistics model. It takes uttermost care of its supply chain management and employs delivery agents with high experience.

Myntra has also come up with a complete guide to your everyday fashion and latest style trends. The “MyntraLookGood” is a daily fix of style tips, beauty tricks, celeb fashion, and non-stop entertainment. The tie-ups with celebrities and events are an outstanding strategy by Myntra to represent that fashion is in its DNA. Myntra has many celebrity brands— Hrithik Roshan’s HRX, Salman Khan’s Being Human, Deepika Padukone’s All About You, and Farhan Akhtar’s MARD. They believe that Bollywood influences fashion and frequent tie-up with celebrities helps to bring customers closer to Myntra.

6. Shopclues

Shopclues is the latest addition to the top e-commerce websites in India. Unlike Amazon and Flipkart, Shopclues is a market place that focuses on unstructured categories of home, electrical, fashion, and daily utility items.  The mass market of shopclues comes from tier 2 and tier 3 cities and most of its business comes from smaller cities. Shopclues helps give brands from unstructured markets a voice of its own.

Shopclues has a comparatively larger merchant base. It focuses on small and medium sized traders located in smaller cities and helps them take their business online. With over 50 million visitors on its website, one of the major revenue generating categories has been the home and kitchen appliances category.

7. PayTm

PayTm is the second largest e-commerce platform in India and has also made its way to the list of unicorn startups. Primarily started as a mobile wallet, in 2016, PayTm entered the e-commerce industry with PayTm Mall. As the name suggests, it is an online market place for products ranging from electronics to daily consumer needs.

One of the attractive features of PayTm has been its cashback feature. Consumers are given a variety of discount coupons to chose from and also provide good savings on the purchase of goods. With close to 120 million buyers on the platform, PayTm Mall is finding new ways to enhance the buying experience. It is also collaborating with retail brick-and-motor stores and with use of its mobile app and QR codes, it takes the customer through an online shopping experience with attractive discounts.

Thus, India is a growing marketplace and e-commerce industries are bound to flourish. But with the right technology and design strategy, new entrants can have a competitive edge.

8. E-Commerce Content Creation With Dresma

As we initially talked about how technology has advanced in recent years, now it is easier for sellers to get high-quality product photos for their e-commerce storefront too!

Meet an eCommerce content creation platform – Dresma – that empowers the sellers with Generative AI to get professional-grade and personalized content for their brand. Likewise, python web development helps eCommerce sites modifying customer data and regulate and maintain it effectively.

Their mission? To make high quality content accessible and affordable to all.

Be it a website, a mobile app, or even building a market place software from scratch, GoodWorkLabs has helped clients in the retail, real estate, and fashion industry build powerful e-commerce applications for their business.

Have a business idea and want to discuss the best solutions for your e-commerce business? Reach out to us and our team will discuss further about your requirements. Email us at – [email protected] or call at +91- 9863077000

You must have encountered multiple instances of swiping your card at a store to conclude your purchase. Now imagine this scenario in an online world. What changes here is that payment gateway replaces the credit card transaction setup. While the end user sees a seamless movement from shopping cart to the bank and back to the shopping site, what actually happens is, a series of complex actions that allow this seamless transition and successful payment made. This is enabled by payment gateways that bridge the gap between the customer, the merchant and the financial institution/ bank. All this while it also keeps a tab on the security of the extremely confidential credit card/ net banking information that passes through different channels.

With our experience in designing highly functional e-commerce solutions, today we present a few types of payment gateways and its workflow.

1. Hosted payment gateways – this takes the customer out of merchant site to payment service provider (PSP) site. Once the payment is done, the customer will be re-directed to the merchant site.

Pros –

a. Card and financial details are kept secure at PSP end

b. Merchant simply worries about core operations and leaves all security and integrity responsibilities to the PSP

c. Merchant logo and design can be added on PSP site for providing confidence to customer

Cons – An end-to-end experience is missing as the customer has to leave merchant site during the checkout.

Example sites – Paypal Standard, Setcom, Payza

2. Self-hosted payment gateways – Here the customer has to provide details on merchant site itself. The site then routes the data to PSP for further processing.

Pros – Total customization of the look and feel of the page for consistent user experience.

Cons – It is the merchant’s responsibility to maintain the security and confidentiality of the customer details. He will also need to maintain the PCI DSS protocols.

Example sites – Authorize.net ARP, Paypal Pro payment

3. API based non-hosted gateways – In this one, the merchant has full control over the payment process. Right from cart checkout, card authentication, payment details and payment confirmation, everything is carried out on merchant site itself

Pros –

a. The merchant has full control over the checkout process and this gives his customers more confidence to shop with complete peace of mind.

b. By using an API, the merchant can expand the coverage of the payment gateway to other devices such as smartphones and tablets

Cons – The merchant is solely responsible for the security of the transaction. He may have to invest in additional SSL certificates for enhanced security.

Example sites – Braintree, Authorize.net CIM, Stripe

4. Platform based payment gateway – This type of gateway provides a medium to sell goods online directly from their own server. When customer surfs online for a product it is done on the merchant site, but when it the transaction reaches checkout stage, it is re-directed to the payment gateway site.

Pros – Customer can view local language and currency, which in turn, improves overall customer experience

Cons – Offers limited customizability as it is a totally separate platform from the merchant site

Write in to us and leave us a word on which payment gateway do you employ in your e-commerce website.