Hardeep Singh
The closure of offline retail sites during India’s Covid incited lockdowns suggested that there was only one winner – eCommerce.
Indeed, even though the retail sector declined by 5% as a result of the COVID-19 epidemic, the Indian online company industry expanded by 25% in 2020-21, according to a Bain & Company and Flipkart analysis titled How India Shops Online 2021, back in 2021. Furthermore, even in the middle of the Covid crisis, which destroyed many businesses, India’s fashion sector continued to grow.
eCommerce, an online business-centered production network SaaS stage, revealed in research that this industry is still growing, with request volume growth of 51% and GMV (Gross Merchant Value) development of 45% in FY21, compared to the previous FY. Now appears to be the best time for India’s mature business professionals to consider starting online firms and capitalising on this opportunity.
Dropshipping explained
Dropshipping is a form of retail in which one might accept online orders for an item manufacturer and forward the request and shipping details to the maker or perhaps coordinated factors accomplices. In this online company model, no fashion product is kept in stock, therefore no money is spent on purchasing apparel or hiring a distribution facility to store it.
Basic first steps
To begin, the entrepreneur must create a current account at the bank of their choice. This progression is free of charge. The online business must then be merged, and a GST endorsement must be obtained. This should be achievable for business owners, but it is easier to hire an expert who can complete the task for Rs. 5,000 – Rs. 8,000. (inclusive of incorporation fees of around Rs 2,500 for sole proprietorship).
A brand trademark may also be obtained for Rs 4,500 for a sole proprietorship online-based firm. While this should be doable without the assistance of anybody else, an expert can record it for a fee ranging from Rs 2,000 to Rs 5,000.
Website building
Branding and marketing are critical for achieving a successful end with a dropshipping approach for online fashion. Building a website and gaining some traction through social media is critical to achieving this goal.
An independent designer may create a brand logo for as little as Rs. 4,000 – Rs. 6,000, however, this advancement can be handled by entrepreneurs themselves on free plan programming. To build a website for an online fashion firm, one can utilise platforms like Shopify, which costs roughly $29 (approximately Rs. 2,100) every month, or else you can hire IT outsourcing companies like Skyracle Technologies to outsource all your website work.
Product listing
A growing pioneer must also reach a deal with a manufacturer to sell its products online and hire a photographer for product photography. This evolution is doable on your own, but hiring a professional photographer might cost anything between Rs. 200 and Rs. 1,000 each SKU.
The things can then be registered on the website of the online fashion company.
Payment gateway integrations for the site, as well as hammering up agreements with logistics partners, are also necessary, and normally contain no upfront payment (commissions from deals as well as pre-concluded expenses in light of deals are the way most installment entryways and strategies suppliers like to be paid, separately).
Own website vs Amazon, Flipkart, Myntra
It is often not recommended under the dropshipping model to offer things on Amazon, Flipkart, Myntra, and other common eCommerce sites. All things considered, they believe it is better to sell mostly through a brand’s own site and only limit it to operational accomplices for delivery.
“That’s what one issue is if the conveyance is dependent on exterior conveyance accomplices, it gets difficult to regulate client experience,” says Alok Paul, Co-founder of online women’s apparel brand Berrylush.
Other steps and costs
Packaging may be handled at a low cost, yet some businesses choose to spend money on putting their own logo on the packaging. During the first stages of a small, modest online business, the printing of names and invoices may be handled using a basic laser printer. PC and web expenses are also considered structure expenditures, however, the entrepreneur will most likely claim a PC and Wi-Fi association in advance.
Marketing
After the supply chain, eCommerce site, and delivery network are operational, business owners may begin displaying design goods on Facebook, Instagram, Google, and other social media platforms.
To progress products on the internet, basic knowledge via social media stages should suffice. However, Facebook promoting is a good place to start to promote impressions and drive perceivability.
