Online Shopping Cart - The Way Forward - Ankur Bakhshi

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A brief overview of how an ecommerce or online shopping portal - the procurement of products, marketing strategies, features of online shopping carts are listed in this presentation.

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Online Shopping Cart - The Way Forward - Ankur Bakhshi

  1. 1. Online Shopping Cart The Way Forward Ankur Bakhshi©2013 Ankur Bakhshi
  2. 2. Facts And Figures • People Love to Shop While Sitting in the Comfort of Their Home. • Product Sales Through Online Shopping Systems Totaled $142.5 Billion in 2010. The Online Retail Industry Will Be Worth $279 Billion in 2015. (Source : Forrester Research, 2010) • Plethora Of Online Shopping Carts like Amazon, eBay, Flipkart etc.©2013 Ankur Bakhshi
  3. 3. Resources Required • Hosting Space • Domain Name • Website Development – Frontend and Backend Panel • Online Payment Gateway • Product Procurement • Online Marketing • Customer Support©2013 Ankur Bakhshi
  4. 4. Challenges Before Us • Shipping Mechanisms • Vendor Procurement • Additional Features of Online Shopping Carts • Marketing Strategies • Payment Cycle©2013 Ankur Bakhshi
  5. 5. Shipping Mechanisms • Two Methods of Shipping – Drop Ship by Vendor to Customer – Courier Stocked Products from Warehouses to Customer (PO Based) • Initially Utilisation of Courier Companies • Expansion of Warehouses in Various Cities • In Future, Own Delivery Service©2013 Ankur Bakhshi
  6. 6. Workflow - PO Based Customer Makes Order Number Payment (PrePaid) generated in Back PO sent to Vendor or Chooses end Panel Products (COD) Status updated in Portal packs and Portal’s courier Back Panel by dispatches to picks products and Portal Customer gets to Portal WH©2013 Ankur Bakhshi
  7. 7. Workflow - Drop Shipment Based Customer Makes Order Number Payment (PrePaid) Order mapped to generated in Back or Chooses Vendor end Panel Products (COD) Portal’s courier Status updated in picks packed Vendor packs Backend panel by product and Product Portal/Courier dispatches to customer©2013 Ankur Bakhshi
  8. 8. COD Returns • COD Returns at 30% of dispatched orders • To avoid, confirmation call made before dispatch • Repeated COD Returning customers to be black listed • Tracking on Phone Number and Address©2013 Ankur Bakhshi
  9. 9. Vendor Procurement • Vendors Provide the Raw Materials/Products for the Online Shopping Cart. • 2 Types of Vendors – Manufacturers (Preferred) – Distributors • Different Methods to be Utilised to Obtain Vendors.©2013 Ankur Bakhshi
  10. 10. Vendor Procurement – B2B Trading Platforms • B2B Trading Platforms Contain – Product Details – Contact Details of Manufacturers – Pricing – Minimum Amount To Ship • For e.g., AliBaba.com, WorldWideBrands.com • Pros : Global Outstation List • Cons : Good Quantity of Inventory to be Purchased©2013 Ankur Bakhshi
  11. 11. Vendor Procurement – Yellow Pages • Yellow Pages Contain – Product Details – Contact Details of Vendors • Local Vendors to Ware Houses. • Pros : Meet Vendors Face to Face. • Cons : Need Local Vendors near All Warehouses.©2013 Ankur Bakhshi
  12. 12. Vendor Procurement – Print Media Ads • Print Media Ads to Obtain Vendors. • For e.g., Vehicle Magazines (AutoCar), Newspapers etc. • Invitation for Bids. • Local Vendors To Warehouse. • Pros : Meet Vendors Face to Face. • Cons : Bigger Ads. Higher Costs.©2013 Ankur Bakhshi
  13. 13. Vendor Procurement – Industrial Area Visits • Executives Personally Visit Industrial Areas and get Surveys/Request For Information (RFI) Filled Out. • Local Vendors To Warehouse. • Pros : Meet Vendors Face to Face. Comparison Between Vendor Pricing in Same Area. • Cons : Slower Process.©2013 Ankur Bakhshi
  14. 14. Vendor Procurement – Pamphlet Distribution • Pamphlet Distribution in Industrial Areas. • Wait for Vendors to Contact Us. • Pros : Quick Approach of Spreading Word. • Cons : No Control over Leads.©2013 Ankur Bakhshi
  15. 15. Vendor Procurement – Trade Shows/Expos • Vendors Frequent Trade Shows/Expos to Display Products. • Pros : Face To Face Meeting. Many Vendors Under Single Roof. Multi City Vendors. • Cons : Expo Hosted Once A Quarter.©2013 Ankur Bakhshi
  16. 16. Vendor Procurement – Chamber Of Commerce • Listing of Vendors available at Chamber of Commerce Offices and Websites. • For e.g., DelhiChamber.com • Pros : Reliability Ratings can be Obtained. • Cons : All Vendors Not Registered with Chamber of Commerce.©2013 Ankur Bakhshi
  17. 17. Vendor Procurement – Procurement Form • List of the Vendor Procurement Form on the Websites • Pros : Complete Control over Database. Brand Recognition. • Cons : Will Take Time to Generate Leads©2013 Ankur Bakhshi
  18. 18. Vendor Procurement – Online Search • Online Search for Vendors of Particular Products • Pros : Best Pricing can be Obtained • Cons : Time Consuming for a Variety of Products©2013 Ankur Bakhshi
  19. 19. Vendor Procurement – Social Circle • Vendors Present in Social Circle of Every One. • Pros : Reliable Vendors.©2013 Ankur Bakhshi
  20. 20. Vendor Procurement – Inventory Norms • Fix Inventory Norms for Regular Items like Lead Time, Minimum Stock Level, Reorder Point, Maximum Stock Level etc. • Vendor Rating – Quantity Sold – Timely Delivery – Return/Rejection Ratio • Product Rating (Vendor Wise) – Quantity Sold – Timely Delivery – Return/Rejection Ratio©2013 Ankur Bakhshi
  21. 21. Additional Features • Deal of the Day – Vendors – Products Highlighted – Customers – Visit Website to get Best Deal • Product of Week/Fortnight in each category – Vendors – Products Highlighted – Customers – Visit Website to get Buy Product of Week • Product Comparison for Customers©2013 Ankur Bakhshi
  22. 22. Additional Features • Daily/Weekly Email updates with Deals and Product of Week/Fortnight – Product of Week/Fortnight – Deals starting from Next Day – List of 10 Products Which May Be Included in Deal Of Day in Next 7 Days – Updates to Vendors and Customers – Opt In Form on Carts and Facebook Page • Knowledge Base on Product categories – More Information on Products. For e.g., How To Choose A Camera – Mailed in Updates – Stored on Cart (under Knowledge Base) – helps in SEO too!©2013 Ankur Bakhshi
  23. 23. Additional Features • User Reviews on Products – Ability for User to Put Comments on Products • Social Networking Site Integration – Like button for Facebook page – Share over Facebook – Tweet button – +1 button – Share over other sites like Digg etc.©2013 Ankur Bakhshi
  24. 24. Additional Features • Shipping Time to be Displayed for Each Product at Time of Placing Order – Keeps the Customer Informed • Display In Stock/Out of Stock for each Product©2013 Ankur Bakhshi
  25. 25. Marketing Strategies - Online • Search Engine Optimisation (SEO) – Reach Top Ranks of Search Engines like Google • Google AdWords (PPC) – Paid Advertising over Google – AdSense supported • Banner Ads – Draw Customers by Attractive Pictures Placed At Different Websites©2013 Ankur Bakhshi
  26. 26. Marketing Strategies - Online • Facebook PPC – Grab Eyeballs Where Our Target Market Hangs Out • Facebook Page – Double Opt In To Build Facebook Followers And Email List • Knowledge Base on Product Categories – Drive Traffic to Carts Looking for Information©2013 Ankur Bakhshi
  27. 27. Marketing Strategies - Online • Classified Posts – Text Posts over Classified Websites for Different Products • Affiliate Program – Earnings to People – Amazon has 900,000 affiliates!©2013 Ankur Bakhshi
  28. 28. Marketing Strategies - Physical • Trade Expos – Setting up Pavilions at Trade Expos to meet Vendors • Hoardings – Well Placed Hoardings at Malls, Markets etc. • Print Media Ads – Informing the Mass Market • Sponsorship of Social Events/Charitable Causes – Build Connections – Grab Space in Minds of People©2013 Ankur Bakhshi
  29. 29. Payment Cycle • Payment Cycle to be kept to 15-20 days • This increases faith of distributors in Portal©2013 Ankur Bakhshi
  30. 30. When We Thought We Covered It All!!!©2013 Ankur Bakhshi

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