Needless to say that these are just ideas and an idea alone cannot make a venture successful. End of the day, it is about execution and the team. If you have a strong team, with solid execution, the chances of your success are significantly higher even if you don’t have a killer/unique idea. However, everything else being equal, a differentiated idea will help further improve the chances of success as long as you are filling a genuine gap in the marketplace. So here are the categories in which I will be posting new business ideas – my hope is that some of these ideas turn into reality and when they do, the overall eco system for eCommerce will significantly improve, resulting in a far bigger pie for everyone.

1. Community based shopping:

In this category, I will be posting some ideas around the next generation of online shopping which will leverage the online communities at all levels of ecommerce value chain. We have already seen some of the successful Web 2.0 models for India outside the online shopping space; it is time now to look at some interesting models that fit within the online shopping space.

2. Content Management

As more players enter the eCommerce market, companies will seriously need to reconsider their content management strategy. There will be an obvious need for third party service providers who can provide value added content for products (e.g. detailed attributes, images, videos etc.). There is no need for eCommerce companies to keep this function internal, and outsourcing it to a mature service provider might help improve the overall user experience, and ultimately, the conversion rates. I will be discussing some business ideas for service providers who can rule this virtually uncharted space.

3. Aggregation Platforms

We are already seeing activity in this space. Portals like TolMol.com have started seeding this market and influencing customer behavior around online price comparison. However, is that enough? Are there additional opportunities to leverage the motivations of Indian consumers, and improve standardization across online retailers? I believe so, and I will be sharing specific opportunities around price comparison and other aggregation platforms.

4. <!–[endif]–>Online Marketing

Ok – this is not a new concept and companies have been doing it for years. The question is whether traditional approaches such as SEM or banner ads are enough? What are the opportunities for service providers to offer end to end services around execution of online marketing programs as well as measurement of the benefits? I believe there are significant opportunities in this space, and will share some specific concepts.

5. Analytics Services

Most online retailers use some type of web analytics product – whether it is Google Analytics, Omniture or Web trends – a lot of data is being collected. However, the question is what is being done with that data? What can service providers do to help business managers of these online retailers make more informed decisions and act on this data?

6. Fraud Detection & Security

Credit card fraud is a concern for most online retailers as well as banks. There is a lot of work being done in India such as 3D Secure to minimize the likelihood of fraud. However, I would argue that although several measures have been incorporated into websites to ask additional questions during the payment process, not much thought has gone into the implications of these additional steps on the user experience. How many “authentic” users are abandoning their online check out process because of additional “speed bumps” that they have to face? Are there opportunities for service providers to offer “non intrusive” services that can help detect fraud, and at the same time, improve the overall customer experience. I believe there are, and I will share some specific examples in this category.

. Specialized e-Commerce offerings

Today, with the exception of few online portals, most of the shopping portals look and feel the same. Most of them carry similar assortment of products, at similar price points and a level of customer experience that leaves a lot to be desired. So what are some specialized/focused ideas that can target specific demographics or unique customer needs? In this category, I will be discussing various opportunities for the NRI community, online concierge services, assisted e-commerce opportunities for mass market etc.

8. Loyalty programs

Today, the online players don’t look at loyalty programs as a strategic differentiator or a tool for building lifetime relationship with their customers. Most of the programs available today offer basic point accumulation and redemption options. This area has a lot of opportunities for 3^rd party service providers who can help execute integrated loyalty programs that reward the most profitable customers of online retailers.

9. Logistics/ Customer Service

Although this category doesn’t seem as exciting as some of the categories above, this is certainly a category that can help in strongly differentiating an online retailer from others. Ironically, this category has received the least amount of focus and investment among online retailers in India. There are several business models and opportunities available for service providers which can help online retailers significantly improve their overall service levels and consistency in execution.

I do hope the ideas that I will be posting during next several weeks will provide food for thought to entrepreneurs within this online space. So stay tuned and get your thinking hats on – let’s collaboratively build upon these ideas to help drive eCommerce in India to the next level.

Related Posts

%RELATEDPOSTS%