When life puts you on the lockdown, sell online! That was the credo for the majority of e-commerce players last year, while the country was shut down by the pandemic.
India’s online business tendency is growing at a rapid pace. Reselling is easy to get started, and it doesn’t require a lot of money upfront. In most cases, resale is now a full-fledged business that generates more money than just a paycheck. But what exactly is reselling, and what are the strategies that you must analyze? We’ll discover what this thriving industry has to offer in this blog.
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What are reselling apps
What appears to be a complicated term is actually very simple. To put it another way: A reseller is someone who buys in bulk from a wholesaler or retailer and then sells the items to his or her own customers, usually at a profit. There is no requirement for a shop or inventory for a reseller. They use social media to get in touch with their customers. In India, the idea of reselling has been around for a long before this. As a result, social commerce platforms like Meesho have seen tremendous growth over the past few years. One of the reasons resale is so popular in India is that you don’t have to put any money upfront to get started. It’s easy to share a catalog or individual products with potential buyers using Meesho, for example. Only once your consumer confirms an order will you be required to make a payment.
Is there a Secret to Successful Reselling apps in India?
This innovative business concept was extremely successful in the Indian market, and apps such as Meesho quickly became household names, particularly among Indian women who wished to pursue their own financial independence. The fact that they became a reseller means that they can still now work from the comfort of their own homes. Even working women have reported that reselling with Meesho has enabled them to earn significantly more money by operating their own business. A large number of housewives have been successful in making a name for themselves through reselling. Furthermore, Meesho has assisted a large number of students who were hoping to supplement their income with a part-time job.
The following are examples of low-cost products with high-profit margins that will be available online in 2022:
- Wireless Bluetooth speakers
- Women apparel
- Men’s Accessory items
How does meesho work?
Probably no introduction is needed for the online reseller platform Meesho. It has carved out a position for itself in the marketplace and acquired popularity among customers and retailers alike by creating online reselling and purchasing easy and economical. Transactions with Meesho are safe and prompt, and the company offers low-cost refunds and delivery options. The Meesho brand is trusted by over 2.6 million resellers across India.
Meesho translates to “Meri Shop” or “Apni Dukaan” in Hindi, which perfectly describes the service that it offers to its customers. It seeks to create an atmosphere in which anyone can start a business without the need for a large sum of money upfront. Customers from Tier 2/3+ cities account for more than 70% of their sales.
Meesho’s tagline states, “Not just a homemaker, but a Meesho Entrepreneur.”
Meesho is essentially a social e-commerce platform and hence operates on a direct-to-consumer model. The company’s business strategy can also be described as B2B in addition to being B2C if the resale prospects provided by Meesho are noted!
As a Reseller, you promote products available on the Meesho app to your network or on social media, and you earn a commission on each sale. The products are offered by third-party suppliers who have a business relationship with Meesho. Reselling with Meesho is a simple and effective way to work from home while generating profits.
Meesho charges a regular delivery cost plus a commission of between 10% and 20% on all products sold by the sellers. Additionally, it imposes significant penalties for product returns.
Meesho currently employs over 750 people and is focused on a market of over 20 million resellers. Meesho’s business plan is similar to that of any other e-commerce service provider. With 50% of Meesho’s target market concentrated in Tier 2, 3, and 4 cities, the company claims to have a presence in over 1,000 locations, where it enables resellers to begin marketing with no upfront investment.
Meesho product category
Meesho features a variety of bulk items. All products are inspected for quality and the company ensures that they are supplied responsibly. You may resale things from Meesho. It enables you to sell a diverse range of products and diversify your client base.
We’ll discuss a few items that you can resell using Meesho in this section.
The following is a list of Meesho’s products.
- Meesho Kitchenware
- Meesho Men’s Clothing
- Meesho Household Goods
- Meesho Women’s Clothing
- Meesho kids Clothing
- Meesho Furnishings
- Meesho beauty products
Meesho’s Business Challenges
The cost of distribution is high.
The distribution costs have a significant impact on Meesho’s financial results. Acquiring and retaining budget-sensitive customers requires ongoing capital burn. Additionally, during COVID, Meesho distribution increased considerably more than usual. Consumers have shifted their focus to essential items for home delivery, hindering Meesho’s growth. Although the Meesho team effectively manages this scenario by offering masks, personal care products, sanitizers, and groceries to the end-user.
The product’s quality is inconsistent.
Several Meesho buyers reported that the product they received was of poor quality
Customer service is sluggish and delivery is late.
Numerous clients have reported that things are occasionally delayed in their delivery. When a product is delayed, customers seek information about the status of their purchase from “customer service.”
Customer support is critical for establishing trust and providing an exceptional customer experience. However, if the delivery/order-related issue takes weeks to solve (particularly for Tier-2 and beyond), you can only imagine the level of dissatisfaction experienced by these consumers.
Meesho future plans
- By December 2022, Meesho aims to have 100 million monthly active users on its e-commerce platform and more than 50 million products in its catalogue.
- Meesho intends to launch live commerce by the end of the year and to add regional companies to its platform in order to increase revenue from advertising. Due to the fact that live commerce provides real-time sales and audience participation via chat capabilities and reaction buttons, it is an extremely powerful sales tool.
- Meesho unveils an integrated app for buyers & sellers. Especially sellers will be able to benefit from the app as it offers more features than the web versions previously provided. Some of its functions include support for sellers, order tracking, and inventory management.
- Meesho is expanding its D2C e-commerce business into branded products category. To capture a larger share of people’s wallets, the company wants to focus on “affordable brands.”
- Farmiso (Meesho Groceries) is also looking to expand into over 200 cities with its groceries and fast-moving consumer goods services. The company makes online grocery shopping reasonable for new customers in India’s tier-II marketplaces.
Best reselling apps in India
Shop 101 is India’s first e-commerce platform dedicated only to reselling. Additionally, they provide in-home services, which can all be afforded within minutes. The platform is unique in that it has a function that allows for multiple language selections.
Additionally, they facilitate a variety of really attractive cashback deals. They have approximately 50 lakh four-star resellers.
Auctions and consumer-to-consumer sales are two of eBay’s most popular features. From any location in the world, you may use eBay to buy and sell items. On this website, you may sell and purchase items such as electronics, clothing, vehicles, cameras, and cosmetics, among other things. They’ve received over 100,000 downloads and a 4.6-star rating.
OLX is a user-friendly online reselling app. If you’ve ever done group advertising in newspapers or other media, you won’t need to learn about OLX because it follows the same format. This app has over 3 million products listed. Furniture, cars, household things, and even electronics are included. Its user-friendly interface has made it quite popular. In addition, it offers a unique Chat-first function that allows users to verify the person interacting.
While e-commerce continues to grow in popularity and implementation all across the country, there still are millions of consumers who are either unfamiliar with it or interested but apprehensive about making the leap.
To expand the inclusiveness e-commerce’s and attract these people to the digital economy, businesses will need to adopt a variety of business models, each with a distinct customer demographic.
For more detailed insights on streamlining your business, reach out to our e-commerce experts at info@admin