The rise in competition is creating several roadblocks for e-commerce franchisors.
Time has been a great factor when it’s about determining the scenario of an industry. Initially, E-Commerce websites were able to make quick profits by sending anything and everything as the market competition was minimal.
But things are no more the same. Technology and innovation have transformed business sectors, which could still be witnessed in today’s time.
The rise in competition is creating several roadblocks for e-commerce franchisors. In order to stay in the race, things need to be planned accordingly. You need to stay with the trend and consider fulfilling the demands of today’s consumers.
Mentioned below are common challenges faced by the e-commerce businesses.
Finding the right product
Establishing an online business is no more a tough job. By proper knowledge and following certain guidelines, it’s very easy to establish and run your online business successfully.
Shopping platforms like Amazon, Flipkart, and others have made things very difficult for retailers to source unique products. In fact, many franchisors end up in manufacturing their own products just to stand apart from their competitions.
Attracting the customers
Indian market is witnessing a change in attitude among online shoppers. They don’t shop the way they used to do in early time. They are more into recommendations on social media websites.
Today’s consumers spend more time reading reviews and comparing the same product/service with other websites available in the market. Today’s consumers get easily distracted by social media and technology.
Today’s e-commerce franchisors mostly fail in bringing traffic on their website. Franchisors couldn’t rely on a single platform for obtaining traffic for increased sales.
Effectively leveraging search engine optimization (SEO), email, display ads… more could help drive qualified traffic to their online store. It should be visible where the audience is paying attention.