As a Founder and CEO of Bakingo, Himanshu Chawla is responsible for the overall strategy formation of the organization. Himanshu has successfully led Bakingo as a fortunate brand from the scratch. With the aim to bridge the gap in the cake delivery industry and revolutionize it by bringing the cake delivery segment online.
Companies from all around the world are interested in India due to the growth of its eCommerce volumes. India’s population is estimated to be 1,406,569,444 as of 2022 based on Worldometers’ study of the latest available United Nations data. Only one-fourth of India’s population is represented by the populations of Germany, the United Kingdom, France, Italy, the Netherlands, Belgium, and Greece combined. India continues to be one of the most alluring emerging markets for eCommerce despite having lower per capita spending power. However, India is a long way from becoming a haven for online shopping.
Some of the difficulties that Indian startups have when operating an internet business are listed below.
Increasing Customer Expectations and Meeting Them
Online startups continually attempt to strengthen their reputation and brand image by providing a good experience. In a time when customer satisfaction is paramount and established eCommerce behemoths push online shopping to the proverbial “next level” with anticipatory shipping techniques, it is challenging to meet customer expectations. It is a big challenge for Indian entrepreneurs to compete with these industry titans while also satisfying constantly shifting customer preferences.
Startups should start analyzing their eCommerce patterns and focus on using this data to build tailored customer experiences in order to meet the required customer expectations for a great user experience. Customers must feel appreciated and acknowledged as soon as they start using your service. For instance, send them notice notifications or product updates to help with this customer connection.
Cybersecurity is essential for a startup with an online business because hacks can lead to losses in money, information, and a company’s general viability. You must protect both your own and your customers’ data when it comes to eCommerce. The loss of client data due to a cybersecurity system breach might have a major impact on the trust and reputation you’ve worked so hard to establish.
An established cybersecurity policy is necessary. A cybersecurity policy lays out expectations for everyone at your company and makes it obvious that crucial tasks cannot be overlooked. Second, look into the numerous security features and options if you’re looking for a new internet platform. Multi-factor authentication, client data encryption, real-time threat warnings, and compliance features are a few examples of such attributes.
Even some of the most well-known companies in the eCommerce industry struggle to keep their clientele. Problems with customer-centric eCommerce can be attributed to a number of things, such as shifting consumer expectations, identical options, and a failure to create a pleasurable purchasing experience. On occasion, offers and discounts on other platforms can also be more significant.
Customer loyalty is crucial to a business’ success, and even a small mistake on the part of the vendor can entirely ruin the reputation of the brand. Many firms fail to realize that keeping a user requires building a dependable and fulfilling relationship with them over time and making the most of all available communication channels to cement this relationship. Companies should engage their consumers in ways other than transactional correspondence to make them feel valued because developing customer relationships requires time and effort. Businesses must take care of their clients with a tailored communication plan while working to improve the internet experience.
Every business should focus its marketing efforts on fostering the emotional bond that customers have with their favorite brands because this is where consumer loyalty comes from. By turning customers into brand advocates and extending the brand’s reach, a good customer retention strategy may work wonders for an online startup.
It is important to note that eCommerce behemoths are increasingly lured to India, even if this essay focuses on challenges faced by startups trying to operate online in India, which is an inherently biased topic. Cross-border eCommerce to India is growing, and numerous major multinational corporations are making significant investments to open offices there.