MSME Week: Tips and tricks on how to sell on ecommerce in times of COVID-19
The Indian ecommerce industry is set to grow five times — from $38.5 billion in 2017 to $200 billion in 2026, according to IBEF data. Ahmedabad-based Suraj Vazirani is one among many entrepreneurs looking to capitalise on this growth, and make a name for their private labels and brands.
At present, retailers are quickly moving towards online selling due to shifting consumer behaviour in the wake of the COVID-19 crisis. They anticipate a big shift in online shopping.
“It is certainly the right time to start a private label and sell online. A budding entrepreneur should first analyse the category he/she wants to venture into, research the market size (both locally and globally), figure out how much investment is needed, and understand the capacity they need to survive, or their runway,” said Suraj in a virtual one-on-one interview during SMBStory’s MSME Week.
Held from June 20 to 27, 2020, MSME Week is a week-long celebration of Indian entrepreneurs who are driving the country’s economic growth through cloud technology, AI/ML, marketing, agriculture, and more.
During MSME Week, presented by TransUnion CIBIL as the credit empowerment partner, SMBStory will bring you business journeys, editorial features, Facebook live sessions, and panel discussions with the business founders, corporates working with MSMEs, and other key stakeholders in the SMB ecosystem.
During the virtual session on June 20, Suraj, who runs the beauty products brand The Beauty Co., described the impact of COVID-19 on ecommerce, and explained how one can take their first steps into the world of ecommerce, and start his/her own private label.
He also offered useful tips and tricks on how to evaluate lucrative ecommerce categories, how consumer behaviour will shift online, and what can be done to capitalise on this opportunity.
Watch the full interview below:
Edited by Suman Singh