The present times have impelled most business activities to shift ONLINE. To understand the nuances of an online business, ARCH College organized a ChrCha on ‘Time to Empower a New Generation of Entrepreneurs’ with the Managing Director of Etsy India, Himanshu Wardhan. He was in conversation with Archana Surana, Founder & Director of ARCH College.
Etsy India is a US based and listed company with 2.7 million entrepreneurs and 47 million buyers, a veritable global marketplace of handmade products. Himanshu has been an entrepreneur with his own startup in Silicon Valley where he began by bootstrapping his company and, subsequently, got involved in work with Etsy in India.
The session examined the current E-commerce market share in India, which is hardly 3-4%, and observed that the pandemic had accelerated its growth, and it was well on the way to become mainstream in the coming time.
The session concluded with an understanding that to run an online business successfully, understanding of the product was most important along with a brand communication strategy, based on research about the buyer - age group, location, purchase capacity etc - and setting the right team in position to earn the trust of the buyer.