World has started to revolve around technology. Where people used to write down long letters by hand and wait for them to be delivered, now the messages can be delivered within a span of mere seconds. The phase of pandemic enlightened the importance of technology, upgrades and advancements even more. The string of technology brings about a revolution in process.
World of E-Commerce saw a rise in popularity as well; pulling a large amount of people, as the advancements in technology and devices has made the buying and selling of products, online, a lot easier. People are no longer confined by physical hindrances but in fact, can have an access to their desired products online. The ecommerce world is expected to grow by almost $11 trillion between 2021 and 2025!
However, joining is not enough to stay up the hill and benefit from the high scoped field. Being the part of e-commerce world is a game in itself, requires strategies and a plan.
Sounds hard? No, it isn’t. This blogpost has all the answers one might need regarding the e-commerce industry, as we look into the topic, ‘How to Start E-Commerce Business in Pakistan.’ Below is the basic outline we will be digging into;
- What is E-Commerce
- How do I start My First E-Commerce Business?
- How to Start Online Business in Pakistan Without Investment.
- E commerce Business Ideas in Pakistan.
- Online e commerce courses in Pakistan/ Free e commerce training courses in Pakistan
- Is e-Commerce profitable in Pakistan?
- Conclusion
What is E-Commerce?
E-commerce refers to the activity of buying and selling products online/electronically, instead of physically. Examples of e-commerce businesses are; Amazon, Olx and Shopify. Major purpose of E-commerce industry is to bring the ability of buying and selling of physical goods, services and digital products online.
There are two main types of E-Commerce businesses; B2B-Business to Business, for example, Daraz App and any other brands selling here, and B2C-Business to Consumers, for example, Sapphire Online Shopping by consumers.
How do I start My First E-Commerce Business?
Now that is a question we all seek an answer to. Let’s make your life easier. Below is an outline of how the basic strategy/business plan works;
- Product
- Research/Trends
- Set Up/Registration
- Launch
- Advertise
Each step is of immense importance. Remember, E-Commerce industry should always go about like, ‘Establish, Survive, Grow, Expand’.
- 1st you decide what type of E-Commerce business you want to set up, if it should be like Daraz; B2B (Business to business-explained above) or if it should be like Foodpanda; B2C (Business to Consumers). In short, choose your niche.
- Later, you will get onto the business plan mentioned above.
- After coming up with the product/s, you need to do research and look into the trends. Note that this step is extremely important (though all steps are very important), as it is like ‘an analysis before action’ of your e-commerce business you tend to set up.
RESEARCH
- Look into how many competitors are in the category/product you choose, how many people are already working on it.
- If you already have too many people in that market, surviving will be hard. However, if demand is high compared to suppliers, then just keep going.
- Your product indeed matters a lot; make sure you don’t get yourself meddled up with a destructive pricing (too high or too low than the usual trend), and by the end, always ask yourself a question, “Will I buy this product? Yes, why? No, why?”
- You cannot always be distinct or unique as people’s demand will always stay the same (only the intensity of the demand changes), therefore, don’t stress out if you cannot bring up a unique idea. Just make sure you bring up something with a twist, something iconic.
Thus, in short;
- Competitors
- Target Audience
- Demand
- Too what extent is your product or business plan iconic/different
- Pricing
SET UP/REGISTRATION
- Now comes the time of setting up the whole thing. If it’s an app, get working on it. If it’s a B2B platform, like Daraz, come up with a slight twist, if it’s a B2C, work on the setting up of the services. All in all, the setting up part is all about how will you make the things go in a sync and in a smooth manner, how will they take place and how many will be involved.
- Register Your Ecommerce Business & Brand Name; There are legal protections and tax benefits for incorporating, so don’t skip it. Set the brand name in a way that suits your niche, your persona, is attractive enough for your target audience and stands out.
- Let’s not forget getting the following done for the complete registration;
- Getting business License
- Getting an Employer Identification Number
- Applying for business permits.
- Dig into the Financial Management part, which of course is extremely part. Though, this section must be covered earlier in the research part but here is when you are going to implement your financial plan. You need to figure out your profit margin and come up with alternate solutions in case of a bankruptcy.
LAUNCH/ADVERTISE
- You may use sponsored content, social media, pay-per-click ads and/or a combination of strategies.
- Your site isn’t the only thing you need to drive traffic to. The product(s) you choose also need to be included in your marketing budget.
Another tip to keep in your mind is, ‘You must NOT aim to Compete.’ You are getting in the market to gain enough traffic and likeability that your e-commerce business does not fail and brings you a good amount of profit throughout the time. Checklist; we are covered up with how to start your first ecommerce business.
How to Start Online Business in Pakistan Without Investment.
Online businesses are all about how to earn online without investment. Thus, how to start online businesses in Pakistan without investment, following is the list;
- Article Writing/Blog Writing
- Website Development
- Fitness Coaching Online
- Online Teaching
- E-Commerce Consultor
- Do Translations
How you come about these ways, click on the link below (as same methods mentioned above have been discussed in that blogpost) and learn in depth how you can set up these online businesses without any investment, and earn online.
Again, to imply to these ideas, you need a plan, skills, determination and an urge to keep going with patience.
E commerce Business Ideas in Pakistan
Since there are two major types of E-Commerce Businesses; B2B (Business to Business) and B2C (Business to Consumer), you may choose one of these first.
The second step is to make a choice between the ideas that fall under them.
B2C
- Sell home cooked food/baked items.
- Setting up a Clothing Store like Sapphire or Khaadi.
- Set up a Courier Services Company.
- Technical Writing
B2B
- A platform like Amazon/Daraz
- Selling Video Libraries
- A website for Buying and Selling of Cars e.g Pakwheels
Online e commerce courses in Pakistan/ Free e commerce training courses in Pakistan
The following are the best sites one can use for e commerce courses as not only (some) of them offer free courses but the courses are contently amazingly.
- Coursera
- Udemy
- Digiskills
- Lums
All you need to do is visit their websites, make an account and get yourself registered for one of the courses!
Is E-Commerce Profitable in Pakistan?
For sure ecommerce is profitable whilst in Pakistan. Pakistan the 37th Country profiting in the best possible way, from online ecommerce business. Ecommerce brings in;
- A faster way of buying and selling products.
- Affordable advertising and marketing.
- Flexibility for customers.
- No reach limitations.
- Faster response to buyer/market demands.
- Has a wider customer base.
Conclusion
E-Commerce industry is a fast growing market with a lot of popularity. Those who settle themselves earlier do the right thing. Fear of failure is what might be a hinder to many but remember, no matter what work you indulge yourself in with, you always need to put in efforts, have determination, work with a plan, sort out alternative solutions and hold patience.
This blogpost had every pointer and guidance covered in and hopefully, no question might be left out. Just now work on a strategy, put it into action and make the right choices at the right time!