Can you imagine a world without electronic gadgets? We live in times where electronic gadgets are ‘essential items’. If you know how to sell gadgets online, there will be no dearth of customers. And the good news is that you do not need to have a physical store. With the many eCommerce platforms at your disposal, you can take your business 100% online.
In this article, we help you check out a plan to sell electronics online and start your eCommerce business.
Statistics predict the estimated number of global digital buyers to be 2.05 billion in 2020. Tap into this huge market by taking your business online – where your customers are!
The first step to this is choosing an eCommerce platform that uncomplicates business processes.
A quick checklist to help you choose the best eCommerce platform:
Cybersecurity is the topmost concern for businesses and customers. The platform you choose should be safe from thefts, frauds, hacking, etc. Compliance with the latest regulations and regular audits are critical for smooth functioning and gaining customers’ trust.
Does the eCommerce platform offer customer support during implementation? If yes, what are the charges? Support can be in the form of documents, initial training, live chat, phone, email, etc.
Every eCommerce platform charges a fee to use their services. This fee varies according to the ‘package’ you choose. Some platforms also charge you a percentage of sales. There could be added costs for catalog plugins, support, images, etc. Always read the fine print for any hidden costs that could surprise you later.
Procurement, accounting, and marketing processes are now digital and automated. Optimize all the processes of modern business by integrating with other apps, technologies, and marketplaces.
eCommerce marketplaces for electronic components have a huge customer base. Amazon, for example, generates a majority of its revenues through e-retail sales of electronics.
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Your eCommerce platform should be scalable as your business grows. Find out the charges for scaling your product portfolio and other business processes before you sign up and set up your store. Migrating your store to another eCommerce platform later, though possible, is additional work and cost.
Check the possibility of growth with the eCommerce platform.
Electronic goods are technology-driven. So as an online seller, you have to keep up with the latest trends in electronics. An eCommerce platform that handles real-time pricing and change in inventory is ideal for online sales of electronic gadgets.
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Plan your logistics
A supply-chain network and its logistical operations are a critical part of every business. Have a logistics plan in place, so that your eCommerce business can operate cost-effectively and efficiently. Your logistics can be divided into three major categories:
If you are new to eCommerce and clueless about where to get electronic gadgets from, a simple Google search for electronic equipment distributors in your geographical area is a good place to start.
You would then need to set up an account with the distributors and decide on the payment terms. If you already are in the business and have distributor connections, you can pull your catalog to your eCommerce store.
VARStreet’s eCommerce platform comes with a ready connection with 40+ distributors. Here’s how you can sell electronic gadgets online with VARStreet.
Electronic gadgets are fragile and sellers face the challenge of shipping without damage. Choose a robust and reliable shipping partner that handles fragile goods well and delivers the shipments on time. There are different slabs of freight charges with different shipping agencies. Understand their freight calculations and decide the payment terms.
VARStreet integrates with major shipping carriers like FedEx, UPS, DHL, etc. Freight charges are automatically calculated based on product type, weight, zip codes, etc.
3. Return logistics
One of the earlier factors why eCommerce gained traction despite consumers not having the ‘touch and feel’ of products was the ease of returning products they did not like, did not fit or weren’t of expected quality.
Your return policy can make or break your eCommerce business.
Statistics show that 56% of shoppers want hassle-free return policy. 81% of shoppers want simple, easy and free return returns. 92% of shoppers say they would buy something again if they are happy with the return policy. While 67% of shoppers say they normally check the return page before making a purchase. Moreover, 62% of shoppers are more likely to make an online purchase if they can return an item.
The rate of returns is 30% or more for the goods bought online. Hence, you cannot ignore the return logistics of your eCommerce store.
Make your return and refund management system functional and automated.
The challenges involved in maintaining an electronic gadgets catalog holds a number of sellers back from starting an eCommerce store. With new additions in technology, there are always new products introduced and many products get redundant. Prices and inventory change frequently.
Manually updating your catalog is quite a challenge. And not every eCommerce platform can support such a dynamic product catalog.
A product’s description shows the value of the product to your potential buyers. It is very important when you sell electronics online.
The buyers look for specific configuration, design, and size for electronic gadgets. The product description should be a combination of technical specifications and good quality product pictures from different angles.
Customers who want to buy electronic gadgets gravitate more towards the product with unique and beneficial features.
When you sell electronic components and gadgets online, two aspects of your products are quite important.
- The configuration of the products – memory, response time, storage, etc. and design.
- Customer reviews
Consumers look at both these aspects before buying an electronic item.
Some brands like Apple or IBM need no introduction, they have big marketing campaigns. Consumers trust these brands, hence, when you sell big brands, you need to focus on creating unique product descriptions and gaining customer reviews. The most useful reviews will be around your timely shipping, careful handling and prompt after-sales service.
If you sell relatively unknown electronic brands, you need to work a little harder in ‘creating an eCommerce brand‘.
“People do not buy goods and services, they buy relations, stories, and magic”
– Seth Godin
Showcase the value of the product through a detailed product description as well as positive customer reviews. Electronic gadgets are no longer a very privileged commodity. Create marketing content your customers will relate to.
A few points to help you create a marketing campaign:
- Know your target audience
- Social media marketing
- Paid promotions
- Influencer marketing
- Email marketing
- Explainer videos
You can use some or all of the above to maximize the reach of your products.
If you still need a little nudge on the viability of starting an eCommerce store, read Reasons Resellers are Losing Retail Business by Not Selling Online
Technology changes very fast as does the needs of consumers, and you have to keep up with the latest technology trends. We at VARStreet endeavour to make it easy for you to do this and sell products online.