As an apt prelude to our annual event I-Inspire, that has the theme Social Media, the topic of this month’s session was e-Commerce.
The speaker Sumant Kasliwal, Founder & CEO of high end Fashion and Lifestyle Ecommerce platform – Outletwise.com gave us interesting insights into the world of opportunities that is e-Commerce. As more and more people are getting inclined towards buying online from the comfort of their homes, there is a vast potential market up for grabs in countries like India where these trends are just emerging. The growth and scope is much higher in small towns where people have money and aspirations but don’t have access to good quality or high-end retail. Physical retail struggling due to many reasons including high overhead costs also adds to the case for e-Commerce.
While all this is very lucrative, Sumant also took us through the challenges that come in the way of e-Commerce and how to overcome those. Based on his intense research and experience, he shared in detail the key aspects of selling online. He also discussed current players and business models already in place. Here are some other important points he elaborated on:
· Product Categories that are e-Commerce Friendly
· Frontend & Backend required
· How to get consumers to the site
· Investment and team estimate
· Paper work involved
· Ways one can put one's products Online
He also gave an overview of his venture outletwise.com and as promised, he invited divas to be partner-sellers or curators with his e-Commerce platform.
The session was very interactive. On the other hand, one could feel spells where divas sat listening with rapt attention as Sumant was speaking effortlessly on the subject he is so passionate about.
After Sumant’s inspiring talk, there was the usual mingling, discussions and networking happening over coffee and snacks.