Online Business especially buying and selling different kinds of things online is trending in Nepal right now. The use of social media in particular has made it easy to provide an online store for your products. If you are exclusively selling through Social Media (Facebook and Such), it might change More often than not the rules and laws introduced by the government seems premature or without any significant benefits.
Ministry of Industry Commerce and Supplies (MOICS) have made it illegal to sell products through social media or other platforms without the use of a registered E-commerce Business website. They marked out that this decision was made to monitor and control internet scams and phishing activities. This law when passed will mandate any online seller business (big or small), to have a website. If found otherwise the entity is susceptible to a fine up to 1 Lakh.
So what are the changes for you as a Businessperson? Well, you have to go through a couple of steps to make your eCommerce site legitimate. The first point is that your website has to be secured with Secure Sockets Layer(SSL). It is nothing new and most professional websites use this to protect the client information. The second step is to go to the user protection department portal and notify your business. After that, you are required to clarify the taxes, additional charges, Guarantee/Warranty policies, and delivery windows on your site.
Better For Consumers
For Consumers, this would be a positive decision. Multiple sites selling different products will let you navigate and compare the prices better. First, it might look like a hassle switching to a browser from your everyday app. However, extensions like Honey and similar ones will allow you to get the best deals easily. The most important advantage here is the scam rates will be less and you can hold the sellers accountable for any bad experiences.
Online is the way to go and there is no second opinion to that in Nepal too. The next Daraz or Sastodeal is just in their beta version, and a great dynamic easy-to-use eCommerce website can be a game-changer. At first, this decision might seem like a barrier for startups, but the advantages and integrity assurance makes it better. Here, are few things for you if you are planning to obtain an e-commerce website for your online store.
Website as an Investment rather than an expense
If you are looking at your website as an expense, you are doing it wrong. You spend money here not because you have to but it is bound to bring you more business. ECommerce websites are the best investments for your business with a quick ROI and profits. Comparing more deeply, a good website can make you a lot of money while spending money on a bad website is letting that capital down the drain.
For a new business, it is very important to understand the website and how it works. Now, it is necessary with the Government’s decision but just setting it up and not utilizing it to the fullest might be foolish. A good website can bring more customers to your business and it knows no boundary. You can connect with them better and be a reliable source of the online store now. Your eCommerce website is your shop window, your customer service, marketing, and brand-building tool, and most importantly your PR ambassador.
What to look for in a good eCommerce website?
Here is a list of features to look for in your eCommerce website. It might not be necessary for your site to focus but we generally suggest you know more
- Easy content management ability
- Support multiple payment options (cards, e-wallet, and more )
- Clean UI for a better user experience.
- Tools for managing the promotion as well as discount codes.
- Scalable and adaptive to new versions of Web Technology.
- Easy to Manage and use Checkout/Cart.
- An integrated blog and news segment will be helpful too.
- Layouts and codes focused on easy search engine optimization.
- Email marketing integration to connect well with your visitors.
- Review and rating system for customer feedback.
- ChatBots and Customer support system.
Benefits of an eCommerce website for your Business
Here are some obvious benefits for your business after adding an eCommerce website.
- Low set up cost. Minimal in comparison to actually having a physical store.
- You can operate your business from anywhere. It provides you the flexible option to operate from a small warehouse with a digital storefront.
- Scalability option is limitless. You can easily upgrade your website capabilities.
- There are no time restrictions. Apart from customer service, you can be a part of your site at the time that fits you best.
- Your sales are more manageable and measurable for aiding your strategic decisions.
- It is less time-intensive once the design and development steps are complete.
- Better cashflows and higher profit margins.
- It helps to overcome geographical and other physical limitations.
Is it necessary to hire an IT professional for managing the website?
Well, it all depends on the scale and time your online business requires to function properly. If you are a startup with less capital, you can learn to use and manage your own website. In a medium-volume business, you can hire dedicated personnel for updating and managing your e-commerce business. Going further up, a department of professionals can give you the absolute best from your site.
Your other option is to pay for the services of an IT Solution (Web Solution) on an annual or monthly basis to give you the required web support. It is best for you with fast response and dependable services. You mightn’t notice but running a well-managed and designed website can save you money in other sectors like maintenance and QC. Hence, you can benefit from assigning an IT/Web professional depending on the manpower requirements.
We have seen so much negativity in the decision to mandate business websites. For online businesses big or small, this might be a direction to head for rather than being a ball and chain to your success.