The Urban Ladder has become the latest Indian e-tailer to explore the possibility of an omnichannel retail strategy, players such as eyewear retailer Lenskart have had an offline presence for a few years now,Flipkart-owned fashion retailer Myntra will be starting with exclusive stores for its in-house brands early next year,mother and childcare e-tailer FirstCry have already set up offline network of 300-400 stores through franchisee networks.
Now you must be wondering why am I sharing these news with you. Thats coz I want it to be an eye opener for all small retailers who are planning to jump in online space with an e comm. Actually the above news suggests that though e comm is successful for white goods but as far as furniture , apparel & accessories are concerned , you need to provide a touch and feel experience for customers as it is the one of the major reasons of heavy losses to e tailers– the cost of product’s return every time.
Also the retailers who are already selling their products on these online portals are not only paying heavy commissions but also bearing the losses due to return policies.
I would like to share an article by a fellow retailer for the same…
Now with ecomms entering into offline sector, imagine your products will also be sold in your next door’s flipkart’s store and you will be paying 30% commission on that….witty, right?
Let me take this opportunity here to tell you that the only reason behind this situation, is your absence from Search + Social, because offline and online are the two different channels as complements rather than competitors.
Feel free to ask if you have any questions in the comments. I would be happy to answer.
Jewelery and Accessories add a little sparkle wherever you go.
Absolutely right!! Coz every piece of jewelry tells a story. Isn’t it??
Today I am here to share the story of a man who fancied, created and designed his own brand for jewellery. Meet Mr Abhishek Sehgal, owner of the fast-growing online brand of jewelry, JEVELEN, that has already made its mark all over the world, and is all set to make a mark in India too.
India is a country with a great passion for jewels, art, and culture. Various stones like ruby, diamonds, emeralds etc, not only have their prominence in enhancing beauty but also are used in significance to the horoscopes. We find custom made ornaments depending on our choices and Jevelen is one such brand set out to bring a difference at an affordable price and at the comfort of buying online.
I feel like Jewelry just happened! It kind of chose me, I think!!
– says Abhishek, thinking back to how he came into the business of gems and diamonds.
Being born to a business class family of Delhi, he was always driven by a desire to start something on his own. A business that sets him as a unique and successful entrepreneur, a job where he can be his own boss. After completing his senior secondary in education, he decided to go to Sydney, Australia to find himself a job. But it was difficult to find a good one and he worked in a couple of places trying to find a living. He also worked in Agricultural farm land for few months before he found of job in a jewelry workshop.
I have always loved designing and doing creative things since my childhood and finding a job in designing and creating jewelry out of precious stones was like a dream come true to me.
– recalls Abhishek, with a smile on his face remembering his earlier days of his dream job when he initially started as a worker.
Although he was the most intelligent and best worker, his salary did not make him reach his dreams and to make his own mark with his talents that he learned over the time while designing the jewels.
Then is when he decided to start JEVELEN his own brand of beautiful Jewelry and accessories. He began to design and market his products. The start was definitely not a walk on a bed of roses. He did struggle to bring his business into one of the top-selling jewelers without any much back-up, support and being self-funded. Well, as they say, “where there is a will, there is a way”…. stands true to this man. There was no stepping back once he started and he began with promoting his products. As he was in Australia, he started from there and slowly he spread the business globally.
The biggest challenge for me was creating a product differentiation. Keeping that in mind, our products are unique in design and in its make. Jevelen Jewels are made with Rhodium, an American Diamond. The best part of it is they are not copied or merchandised and are original.
– tells Abhishek who is all eager to bring it to his home country that is India.
Being successful globally, he is looking forward to launching the brand here in India with a dream of many possibilities. Launching his brand alone is not the idea, but he also wishes to provide jobs to the unemployed by setting up workshops of jewelry making across many cities in the country thereby hiring people with a craftsman’s hand.
The company will be launched with about 50+ franchise outlets across PAN India and will be soon one of the major jewelry brands of our country. The company also donates 10% of their monthly profit to charity in terms of child education, old-age homes, widows, animal feeding and orphanages trying to provide a hand to those in need.
Here is a man who not only has a good heart and is talented with an art of designing gems & diamonds but also knows the value of hard work.
As an entrepreneur and a good human being, Abhishek Sehgal, truly stands as an inspiration who has achieved so much at such a young age.
So, what are you waiting for? Go check Jevelen website and order up the fanciest jewels of your choice.
Setting up a new business is very difficult, launching up a startup is even more challenging. Attempting to build a company from scratch is a hideous task, regardless of prior experience many entrepreneurs pour in their energy, money, time and heart in developing a business idea. Unfortunately, due to lack of expertise, many startups fail within few months. You can avoid your startup from this misfortune, by not committing these common mistakes that kill startups:
Launching it Alone
If you go through the history of successful business ventures, however big or small you will notice one thing in common, that is more than one founder at the time of launching. It is very rare for a startup to succeed if it has one founder. Having one or two extra partners not only makes it easier but also lessens the burden and there in enhances the chances of the startup to prosper.
Not Researching the Business Idea
Failing to conduct a proper research on the business idea is one of the major mistakes novice entrepreneurs commit. Conducting a proper research of the business idea is very important, this allows you to find out the feasibility of your venture and if there is a proper market for your product and service.
Absence of Enough Capital
Although there is no foolproof path of succeeding in the business world, having enough cash on hand will help you get started and can significantly increase your chances of succeeding. A majority of entrepreneurs make the mistake of using their personal savings or money they get from family and friends. There is no harm in taking loans from investors. Just remember this small trick, only borrow enough capital to take your business ahead.
Choosing the Wrong Investors
While selecting an investor for outside funding, make sure to look at the value an investor will bring to your business, rather than focusing only on the money. A majority of startups make the mistake of going with investors who provide more capital, but in the long a run these investors can cause a lot of added pressure too.
5. Inappropriate Hiring
Unfortunately, entrepreneurs make the mistake of hiring a bunch of employees at a very early stage, on the other hand approaching talented part-timers for managing various aspects of the business is a more suitable and sensible plan.
6.Overlooking your Customers
When your business is going good, it’s likely to ignore the most crucial part: CUSTOMERS. Since customers are the backbone of every company ignoring customer feedback can bring unfavourable results.