E commerce in Goa

E Commerce in Goa.

With the advent of the Internet, all over the world, Ecommerce has grown steadily enabling optimization of businesses. Banking, Government services, travels, trade, insurance, import and export, media as well as news print has entered Ecommerce. In Goa too, we are running most of our day to day functions via Internet and are involved in  Ecommerce. E-commerce  is a faster, easier, smarter and affordable shopping experience on the internet.

Now let us understand,  What is Ecommerce?

In general terms Ecommerce is the market place of the Internet where buying, selling and distributing of goods and services takes place through an electronic medium. It is a virtual environment where the buyers and the sellers decide upon transactions and payments. Therefore, any economic transaction that is enabled over an electronic medium i.e. Internet it is termed as Ecommerce.

Ecommerce or electronic commerce has enabled financial transactions on the internet that provide a variety of services which include sales, insurance, banking, marketing, online advertisements and the like.  The concept of e-commerce is all about using the Internet to do business better and faster. It is about giving customers controlled access to your computer systems and letting people serve themselves. It is about committing your company to a serious online effort and integrating your Web site with the heart of your business.

Today, having  a website is a must for every business including independent offices or retail shops. At minimum, potential customers should be able to find you through a search, get a sense of who you are and what type of merchandise you carry, what type of services you provide and find your locations. For many there is also additional money to be made in selling products online.

How does Ecommerce Work?

There are some literal elements of commerce that are necessary for any transactions to take place, which are as true for regular trade and  commerce as they are for e-commerce. First, you need to decide whether you are doing business online or in the real world and you have to have a product to sell or a service to offer. Then, you must have a place from which to do business. In the traditional world of commerce this can be a physical store or, in a more figurative sense, a catalog or phone number. An Email address is a must. In the world of e-commerce the place from which you do the business is only your Web site.

Then, in order to do the business, you also need a way to take orders and process payment. In your retail store there are no orders. Customers simply walk in, find the products they want and pay the cashier at the counter. In Ecommerce, orders have to be placed online via internet and then items shipped. Orders are usually handled through interactive, online forms. Payment is another issue easily handled in traditional commerce. Customers in a retail store pay by check, cash, or credit or debit cards. Online customers cannot pay by cash or check, only through electronic means. That means only via Credit cards or Debit Cards or by bank transfers. Similarly, there are issues of security that surround online payment that do not come into play in the traditional shops. E-commerce transactions have to take place through secure electronic connections and need special merchant accounts in your bank for accepting the payment.

Once payment is collected, delivery of the product must take place. Fulfillment in traditional stores is as easy as putting the item in a bag and handing it over to the customer. Fulfillment of the order  in the world of e-commerce is more difficult, requiring shipping and transportation similar to catalog and mail order businesses. For businesses that integrate e-commerce into their existing business plan, fulfillment is as easy as hiring an extra employee to ship online orders. Those who are interested and planning to start the Internet startup businesses, they must ensure that the fulfillment of the orders are handled in a professional manner or they can outsource it to a facility that can handle order processing and shipping in a more timely and efficiently.

What is the scope of small companies in Ecommerce?

Ecommerce has provided small companies especially self-employed businesses to gain the advantage of marketing which they can carry out from their offices in order to spread the awareness of the products and services they offer. Small companies cannot afford expensive advertisements. In order to increase the awareness of the products and services, online marketing provides them a solution to enable potential consumers' access to their goods and services.  These small scale companies have enabled to expand their base by having virtual customers on the internet that increase their profits.

The advantages that small-scale companies can gain from Ecommerce can be seen as follows:

o       Larger pool of customers: Small companies are able to gain greater access to customers through emails and advertisements.

o       Increased marketing: Through web commerce small companies are able to market their products and services through online advertisements and able to target the potential customers through their profiles.

o       Optimization of business:  By linking their websites with other similar websites in their category they can find potential customers. Internet technology enables small businesses to keep a track of the customers that are visiting their website.

o       Increase in profits: Internet commerce has increased market access and optimized businesses, small companies can earn better profits thus allowing them a better growth potential.

With billions of customers having Internet access it becomes convenient for the companies to reach them through the Internet and provide information about their products and services in an interactive way. In fact, with the introduction of shopping cart users can select various books, furniture, electronic gadgets, clothing, groceries. Even the movies and music. By sitting at home, one can search the cheapest travel tickets and book them instantly. They can pay telephone, electricity, water bills as well as transfer funds without going to the banks.

Therefore Ecommerce continues to grow as a lucrative option for many businesses as it bridges the gap between the seller and the buyer and provides an opportunity to gain the advantages of globalization.

Ecommerce Scenario in India...

With the success of Amazon.com, EBay.com, Shadi.com etc, the innovative brains in India too jumped on the bandwagon and established various Ecommerce ventures.  Flipkart.com was started  just six years ago and it has become India's largest internet retailer. It was founded by Sachin Bansal and Binny Bansal (they are not related) as a small online bookstore. Today, the company employs almost 10,000 people, including hundreds of brand new 'crorepatis.' That is because Flipkart is now valued between six and seven billion dollars—even India's biggest real estate company DLF can't compete—and just days ago announced a billion dollars in new funding, one of the largest rounds in world of financial history.

Then there is Snapdeal.com. It was started in 2010 by Kunal Bahal and Rohit Bansal. They employ over 2000 employees. Presently There  are thousands of online Ecommerce web sites mushroomed over the Internet and the pace is very fast. Every day hundreds of new online shops are being created.At the same time, huge investments are being pumped into these online stores.  Wipro's Azeem Premji has investments in FLIPKART AND SNAPDEAL.

The international  brands have also entered in the Indian turf. There is Amazon.com (where the Bansals once worked).  Infosys' N R Narayana Murthy has huge investments in this company. Then there  is EBay.com. It is an auction site. There is Paypal.com. It is like an online Bank, A mediator to pay the merchant on the customers behalf for,the goods or services provided.

Ecommerce Scenario in Goa as of today.

One side of the coin...The Bleak Scenario....

In Goa, there are several establishments and businesses those are involved in the trade and providing services that can have enough potential to go online. We have several traditional artisans and craftsmen, whose crafts and products could be displayed and traded online. But several of them   don't even have their own web site, leave aside online commercial business. Either they have not bothered to put their product or services online or they are complacent or they are not interested. Most of the time these class of traders are unaware of the potential business they could create by having their own website. Adding a Web site is a means to enhance their business. For Internet startups, the Web site is the only place that they do business. In both regular commerce and e-commerce you need to find a way to attract customers to your place of business. This is embodied by your marketing strategy, and everything from advertising to word of mouth fits into this category.

The other side of the Coin...The Bright Scenario.

Right from a college student to the enthusiastic young entrepreneur, the spirit of trying something new on the Net is everywhere in Goa.  Every one tries to be on the Facebook. The professionals are connected via Linkedin.  The recent Ecommerce newcomers like urbanration.com and cooldukan.com have started their venture and have many loyal customers. Most of the hotels, resorts, restaurants and bars and some real estate developers  have their own web sites. They handle most of their marketing and advertising on their own and few via Facebook.

The Goa Government has opened up an IT Incubator at Verna, where young and innovative entrepreneurs can try, test and start their own Ecommerce ventures. 

Beyond the presence of these instant behemoths on the global canvas,  a vista of golden opportunities faces every single Goan coming onto the wild world of internet. With the bright IT  talents available in Goa, there is huge potential for young graduates to venture into Ecommerce. Instead of running after seeking jobs in Bangalore, Pune, Chennai and working for the BPO or other SERVICE PROVIDER software companies,  I would recommend that they embark upon the new found Vista of Ecommerce. Kevin Kelly of WIRED magazine has rightly said, "there has never been a better time in the whole history of the world to invent something. There has never been a better time with more opportunities, more openings, lower barriers, higher benefit/risk ratios, better returns, greater upside, than now. Right now, this minute."

I personally do lot of shopping online. The reason is, it is more convenient, competitive and fast.I don’t have to drive down to the town to visit the showroom or the outlet selling the gadgets. The same items sold in the showrooms are almost 10 to 20 percent costlier than the items sold online by Flipakart or Snapdeal. I have purchased gadgets from a 32 inch LED HD TV to soap dispenser from Snapdeal and flipkart. They deliver the ordered items within four to five business working days. From the comforts of your living room, you can search, study, compare the prices and order the required gadgets. Items can beordered on the terms of Payment on Delivery. I am quite happy with the product as well as the delivery system.

Everyone in Goa today possess either laptop, ipad or high end hand held gadgets. At the click of the button they  just want to search the google for the required information. So, for small business establishments, retailers, designers, artists, professionals it has become imperative to have their online presence. Setting up a simple web site and to establish your presence on the internet does not require any rocket science nor does it require hoards of money. Registering your website costs you only Rs.500/- per year. Hosting a website costs another Rs. 1000/- per month. Development of a simple website costs hardly Rs.5000/- onetime payment .  However, commercial set up website for Ecommerce costs little more. But it is affordable and worth in the business perspective.. There are several professionals in Goa, those who provide website designing, hosting and managing services.

So, what are you waiting for? Get your own website or business online today.