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Xeoblast's Ecommerce Journey - From Rags to Riches

Discussion in 'My Journey Discussions' started by xeoblast, May 29, 2013.

  1. xeoblast

    xeoblast Newbie

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    Hello everyone! Ecommerce is something that always fascinated me for the sole reason that it is booming like crazy in the country i live in (India). Considering the help from my father and my friends, i do have decent knowledge in this area although I cannot be called an expert. I decided to share my journey and take a couple of pointers from experienced people. So here it goes.

    Target Market Area: India
    Reason: It is an emerging market and this is the best time to venture into Ecommerce especially in India

    Consumer Target: Teenagers, Office goers (Mid-High Income People)
    Reason: They spend more and are not so hesistant to products online.

    Type of Products: Gadget Accessories only
    Reason:There is too much competition in Gadgets - especially Mobile phones, tablets, laptops etc. It is not worth the risk.

    Procurement Method: Buy and Warehouse, Dropshipping
    Reason: My father is into imports. So i can purchase good products for cheap prices and small quantity from Alibaba and Aliexpress Chinese sellers. I do not have much knowledge about Dropshipping at this moment, so i am not going to try it as of now. However, i plan to buy membership from WorldWideBrands at a later point of time and it costs about $299.

    Product Mix: Branded and Unbranded
    Reason: Costly Branded products and Cheap Unbranded products not sold by other sellers is my plan.

    Pricing Mix: Cost Based Pricing and Competition Pricing
    Reason: Apart from the usual Psychological Pricing ($9.99), High low pricing strategies, depending upon the competition and the type of goods, it is better to follow a proper mix of the above.

    Cost Based Pricing: Cost of Product (including shipping, customs duty etc) + Transaction fee/ Commission + Marketing Expenses (if it can be directly appropriated) + Profit Margin

    Competition Pricing: For certain products, there is no point in following the above method when the sellers sell at a lesser price. This is true in case of Pen drives, Memory Cards etc.


    THE PLOT:

    So having given you all some background information, i tried to test the waters on Ebay India and the results are pretty decent. If your product is known by buyers (Branded) then there is high chances of making a sale AND if your product is unbranded, if it is of reasonable price. Now what is reasonable depends on experimentation. It took me quite a few tries to know the exact price point.

    At first, i priced a product at Rs.2,999 ($55 approx) and i didn't get any sale. Then i decreased it to about Rs.2499 ($45 approx) and then i made 2-3 sales.

    Now having made some sales of about Rs.20,000 ($363 approx), i plan to exploit other avenues. After a bit of research, i found the following best avenues to sell/market my products:

    1.Ebay India
    2.Groupon
    3.Indiatimes Shopping
    4.InfiBeam
    5.MyDala
    6.Rediff Shopping
    7.ShopClues
    8.SnapDeal

    9.Self-Hosted Ecommerce Website***

    Now if you observe carefully, my Marketing Mix includes selling portals and discount deal websites. These are some of the top ones in India and if the Sales Pitch is made correctly (includes proper pictures, product description, features, advantages, specifications, shipping and handling, payment policy, terms of sale and contact us information) at least 1 sale can be made on each of the above.

    Its a little late here. So thats it for now. In my future posts, i will share information about the process and why i consider the first 8 options (EBay - SnapDeal) than a Self-Hosted Ecommerce Website.


    Thanks for reading :). If you can suggest me a few tips on my journey, that would be great!

    Until next time
    ~xeoblast.
     
  2. RussianMarketing

    RussianMarketing BANNED BANNED

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    Good luck.
     
  3. WayneInc

    WayneInc Senior Member

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    Best Luck for your Journey men..

    Subscribed to your thread.. This is something unique thread.
     
  4. terrycody

    terrycody Senior Member

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    subscribed dude

    very nice journey and good luck,im interested in E-ecommence too, im from China, i have the goods from a company, so the left thing is how and where to sell them

    my target country is US and China
     
  5. Ignito

    Ignito Newbie

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    I wish you the best on your journey. I had quite a similar plan (starting with eBay and progressed to my own eCommerce site) two years prior. If you run into any troubles throughout your journey feel free to send me a message and I'll do my best to assist you.
     
  6. Beven

    Beven Elite Member

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    Best of luck with your journey, don't give up! :)
     
  7. shailzrocks

    shailzrocks Jr. Executive VIP Jr. VIP Premium Member

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    Occupation:
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    Romba Nalla Idea Anna, Best of luck!
     
    • Thanks Thanks x 1
  8. fbfbfb

    fbfbfb Jr. VIP Jr. VIP Premium Member

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    You are a fast learner :D
     
  9. psychorollercoaster

    psychorollercoaster Newbie

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    good luck brother!