Starting a business is easy. Anyone can do that, but not everyone is capable of sustaining one. In my experience, I have learned that being proactive allows you to enter into the territory of success. With the boom of e-commerce, it has now become difficult to run a business successfully. The digital world is open to all and here you are competing with the geniuses across the globe. Your innovative idea might become a success story of someone else if you don’t act proactively on it.
If you have recently ventured into an online store of designer Jewelry and accessories then the road ahead is not easy. There are many factors that affect your business. Here are some of the challenges most of the entrepreneurs of online Jewelry business are prone to face.
The road to gain trust is not smooth:
Online business is all about trust. It is one of the biggest challenges that e-commerce has to face. This will take time. And during that time you have to put constant efforts to make it happen. You cannot compromise with your service quality at any stage of the business. Even one mistake can wipe your hard work. So, you need to gain the trust of your customers. It is not easy, but it is also not impossible.
It is also a war against the cheaters:
You need to watch of for those who are waiting for an opportunity to corn you by taking perks of your policy. For example, when you sell an expensive piece of Jewelry to a customer and after few days the customer returns it claiming that the product was delivered damaged to his/her location. In such cases, you know that the opposite party is dishonest. Such customers use such valuable product for wearing on one or two occasions and then they return it. Well, here there is very less that you can do anything unless you come up with an innovative idea that clear the possibilities of occurring such incidents.
Delivering the products on time:
One of the biggest drawbacks of the Indian E-commerce industry is not delivering products on time. When you say that the product will be delivered in 3-5 business, then it has to be that way and not more than that. When a customer orders a Jewellery to wear on special occasion, but the date gets passed and that leads to the cancellation of the order. So providing a strong delivering network to your customer is one of the most important factors that you need to focus on.
Removing the unfamiliarity towards online payment:
It has been a year now of demonetization, but still, we are not ready to go online completely. There are many customers that only like cash on Delivery option. It should be your concern because when you have advanced payment of the parcel, it cost you nearly half of the cash on delivery option.
Maintain a reasonable price with high commission rate is not easy:
The e-commerce giants are offering minimal or no profit to the seller. Sometimes the days are full of bad deals for sellers and so they sell their prices with high commission. There are many products on the market that has a commission of more than 35%. This scenario makes it difficult to maintain steady price.
Getting competitors inspired by your design leads to duplication:
You need to gain reputation in the market so your customers approach you directly. And if you are not able to do that in a certain period of time then you are facing the risk of designs getting copied and promoting the existing jewelry items as their own.
Jewelry is a personal thing and it always will be. So will get many requests to for customization of a particular jewelry. It is difficult to handle and may online jewelry stores have to let go the customer just because the option is not available.
Finding right audience to target is not easy:
When you make the promotion of your website, you need to be careful and target the audience precisely. For your online jewelry store, you need to create a USP. You can brand yourself as a supplier of the best Traditional Jewellery, or bigger collection of funky Jewellery and so forth.
These problems can be solved with constant efforts and proactive efforts to understand the market.