eCommerse is Innovation at its best for MSME.
Table of Contents
COVID19 is a global unanticipated event that has hit everyone very hard. Everyone has suffered during this pandemic either fanatically or emotionally and we’re still fighting our way through it. During the first lockdown in March 2020, the local business suffered the most but as time progressed it started affecting everyone. Covid-19 opened new doors & jumpstarted the online portal for everyone.
As you’ll look around you’ll realize that pandemic has modernized & digitalized the MSME sector. They’ve evolved from being local vendors fixated in the shops to being available online for everyone. The eCommerce sector has started exploring the online portal which has no physical boundaries.
What is eCommerce?
eCommerce is the electronic purchase or selling of products or services. This could be:
Customer to Customer like Olx
Customer to Business like Myntra/ Amazon
Business to Business
Benefits of eCommerce:
I have always been the one to advocate online shopping but after the lockdown, it has become imperative for safety.
- Convenience
- Endless options
- Easy return and delivery
- Handy payment options
- The ease of shopping from anywhere
- Pay online & pick from store (if you don’t like it then cancel the purchase)
Drawbacks of eCommerce:
Although it’s a major convivence it does have a few negative points:
- Nothing can beat shopping directly from store
- Details of products are never enough
- Material and quality is at time not up to the mark
- Chances of fraud is there
- Few sellers cheat too (like my recent experience on Instagram @clothes.factoryyy)
How is eCommerce helping MSME to evolve?
eCommerce has given MSME a new way to approach the consumer/ stores. It has been aided by many platforms that are supporting the growth of MSME.
- Facebook marketplace
- Amazon
- Flipkart
And many more private established portals are aiding the small stores to launch the products and give them a place to display the products. It has brought a new way of shopping forward which doesn’t involve stores and reduces the burden of sellers.
[Tweet “eCommerce is a Boon for MSME Sector”]
eCommerce has helped sellers:
- connects manufacturer and consumer
- cut the cost of infrastructure/ marketing/ distribution for the manufacturer
- reduced the cost of staff
- the mode of payments like COD/ Wallets/ Card/ Internet banking has made financial management easier for seller and consumer.
This is the best survival change that MSME has undergone and that too in such a short time span. Innovation at its best.
Caution must be advocated during online shopping
Know more about MSME: Small Business Innovation during COVID-Era
Written as part of Blogchatter’s campaign #ECommerceBuildsEconomy
Happy Shopping to all.
Be Healthy Be Safe.
Absoulutely, ecommerce is a boon, very well explained and written, thank you for sharing.