The moment is ideal for launching online fashion enterprises, with India’s online fashion sector gathering up speed amidst a coronavirus-stricken 2021.
COVID-19 has a wide-ranging influence. This is the time when most of you are considering how to launch an internet business in India. Due to the shutdown of offline retail shops as a result of India’s coronavirus-induced lockdowns, only one winner emerged: online. According to a Bain & Company and Flipkart research titled How India Shops Online 2021, the Indian e-commerce business expanded by 25% in 2020-21, despite the retail market shrinking by 5% owing to the impact of the COVID-19 epidemic. The current circumstances highlight the shift of consumer behaviour to online shopping more than ever.
And, despite the coronavirus outbreak that decimated many businesses, India’s apparel industry grew. Unicommerce, an e-commerce-focused supply-chain SaaS platform, indicated in research that the market is still growing, with order volume increasing 51%. The moment appears to have come for India’s aspiring entrepreneurs to explore launching online fashion enterprises and capitalising on this potential. A fashion e-commerce business may be started for as little as Rs 10,000 by using a do-it-yourself (DIY) approach.
Selling clothing online vs. offline:
There are several advantages to selling garments online versus selling clothes offline. Online retail offers a lower entry barrier than brick-and-mortar retail since there is no need to pay rent for a physical facility, maintain a physical inventory, or pay salespeople wages. E-commerce websites, unlike physical storefronts, are open 24 hours a day, seven days a week, allowing online businesses to operate without taking vacations, lunch breaks, or holidays.
What factors should you consider while selecting a clothes niche?
The first step in creating a successful online clothes shop is to choose a clothing niche. Because the online garment industry is so competitive, your online clothes company should stand out. To begin an online clothing business, you must first choose a clothing speciality in which you are interested. Another factor to think about is that your future speciality should be in great demand and profitable for your internet business.
Creating a professional profile
The entrepreneur must first create a current account with a bank of his or her choosing. There is no fee associated with this step. The online fashion company must next be formed and a GST certificate obtained. Entrepreneurs can do this themselves, but it is easier to engage a consultant for Rs 5,000-Rs 8,000 to accomplish it for them. For a sole proprietorship online firm, a trademark may be registered for Rs 4,500. While you may do it yourself, for a price of Rs 2,000-Rs 5,000, you can hire a consultant to do it for you.
Make your website and establish an online presence.
Branding and marketing are critical to online fashion’s success. To be successful, you’ll need to create a website and get momentum on social media. A brand logo may be created for as little as Rs 5,000-Rs 6,000 by a freelance designer, but entrepreneurs can do it themselves using free design tools. Platforms like Shopify, which costs approximately Rs 2,100 per month, may be used to create a website for an online fashion business.
How many items do you need to get started?
It is preferable to begin modest and basic when opening your first online shop. Adding a large number of goods to your catalogue might result in increased administrative expenditures and complicate your first launch. You won’t be able to handle too many orders without outside assistance. As a result, delivery delays may occur, resulting in poor customer service.
Product Listing- Decide and finalize your products
A fledgling entrepreneur will also need to work up an agreement with a manufacturer to sell their products online, as well as hire a photographer for a product photoshoot. This stage is doable on your own, however, hiring a professional photographer might cost anywhere between Rs 100 and Rs 1,000 for each SKU. The goods can then be listed on the website of the online fashion company.
Costs of packaging and overhead expenses
Although some companies choose to spend money on printing their company mark on the packaging, packaging may be done at a low cost. A simple laser printer can be used to create labels and invoices during the early phases of a small fashion e-commerce firm. Infrastructure expenses include laptop and internet fees, but in many situations, the entrepreneur will already have a computer and a Wi-Fi connection.
Possessing a Valuable Social Media Presence
Entrepreneurs may begin promoting fashion items on Facebook, Instagram, Google, and other social media platforms after the supply chain, eCommerce website, and delivery network are all operational. To market items online, a basic understanding of social media networks should sufficient. However, Facebook marketing is an excellent place to start if you want to increase impressions and visibility. If you have current prospective clients on WhatsApp, for example, you may buy wholesale fashion items and sell them to expand your business. Meesho is another solution that makes it easy for small companies to get started with e-commerce.
Here we go! Online Fashion Brand in just 10,000
For a fashion e-commerce firm with a few SKUs, the procedures outlined above can cost an entrepreneur upwards of Rs 50,000 if entirely outsourced. However, most of the expenditures stated may be considerably reduced if entrepreneurs are prepared to learn and execute the majority of the activities themselves and adds that an online fashion business can be started for as little as Rs 10,000. To establish a business, you don’t need to rent an expensive storefront or invest in expensive furniture. You may simply establish an internet store and manage it from the comfort of your own home, sitting on your couch. Hundreds of thousands of entrepreneurs have already opened up their stores so why shouldn’t you?