Indian retailers are always looking for methods to scale their business, and when it comes to making a presence in the digital world, there are great challenges. The ecommerce development services are making investments to overcome the roadblocks and unlock the potential.
Did you know ONDC is targeting to reach over 18,000 merchants across different industries? Multiple enterprises have adopted the Open Network for Digital Commerce.
Why is ONDC Becoming Popular?
The ONDC platform provides a single platform to build a digital infrastructure that focuses on the growth of the ecommerce ecosystem. The aim is to provide a single interface for multiple stakeholders like manufacturers, logistics, retailers, and customers for better transparency. The three foundational pillars of ONDC are:
- Open Network
- Public Digital Infrastructure
- Open Ecosystem
[Image Source:https://bit.ly/3PvQ93V]
Similar to UPI transactions, ONDC offers an open protocol that will help you streamline the exchange of services and goods. It will also enable retailers to access information about customer behavior, price, and products to make informed decisions.
Also, if you explore the platform, it will help to standardize the operations of business like inventory management, cart management, delivery, and balancing the catalog.
How will ONDC Change the Indian ecommerce Industry?
Optimized Shopping experience
While many big brands have made an impact in the Indian industries, some Indian consumers do not always prefer their products. ONDC will allow online sellers to optimize the products and services, build the catalog, manage the supply chain, and streamline the inventory. This ensures that businesses can deliver a personalized experience to their target audience and increase the chances of generating higher revenue.
Deal with multiple sellers
With the help of ONDC ecommerce, a buyer can interact and connect with multiple buyers through a single platform. This will increase the competition for the sellers but also browse through a wide range of products and services.
ONDC also has an algorithm to display multiple options based on the user’s location. Visitors can browse and buy products from any seller around the country.
Highly Secure Transactions
Most of the customers have trust issues when it comes to payment processes. ONDC online shopping relies on blockchain technology and does not involve anything with third-party payment gateways. This will make the payment faster and easier while keeping everything secure. Being Indian-oriented, it accepts APN (Aadhaar Payment Network), which will help to verify the consumer’s identity and avoid any financial fraud.
Keep Data Safe
The majority of ecommerce stores depend on third-party servers for data collection and analytics, which are located in foreign countries. This increases the risk of data protection and privacy of user information. Having blockchain to gather and secure data will remove the requirement for mediators to complete the process.
Enhance Customer Journey
ONDC platforms are designed to deliver a smooth experience to visitors by allowing verified sellers only. You might need to hire ecommerce developers to provide a personalized experience in the ecommerce industry. There is access to data that helps to understand customer preferences and purchasing behavior.
How does an ONDC Platform work?
Here is the detailed process of ONDC to make it easier for you:
1. Buyer and Seller Application
To connect buyers with a huge network, it is essential to build an application or website that helps customers to browse your products or services. When it comes to connecting with the seller’s ecommerce business requires building apps that will also allow sellers to add products for sale and get orders through the ONDC network.
2. Gateway
This is the application that will increase the discoverability of your business. All the search requests from buyers will be displayed on the seller apps listed on the ONDC network.
3. Beckn-Protocol Based Adapter Interface
These will be open APIs that help to exchange information from different participants. This will also ensure that your information is secure and that it is easier to make a presence in the digital market.
What are the Benefits for Indian retailers in the ONDC Network?
- Being on a platform that provides an open network, it becomes easier for the MSMEs (Ministry of Micro, Small & Medium Enterprises) to experience digital commerce.
- With a host of seller apps, ONDC provides great options for retailers to begin the online journey.
- There are no costs for the sellers. They need to bare a minimal charge after receiving a successful order.
- It is easier to sell all over India, which increases the discoverability of your products and services. This will help you to boost the business in local markets and reduce operational costs.
- Selling on the ONDC ecommerce network will take your ecommerce business to new heights as it reduces the cost of customer acquisition and marketing.
- It gives you the freedom to set the business rules, prices, and business policies. This helps them to build their business according to their success plan.
- Being an open network, it will give sellers access to the buyer’s information, which will make it easier to build strategic business decisions and generate better revenue.
- It is the best choice for sellers as they can switch between different applications. This flexibility ensures you have access to the best applications as per your business reputation.
What are the Major Seller Apps Offered By ONDC in 2023?
Mystore
StoreHippo connected marketplace will empower small-medium enterprises to sell online. Being a seller app, it provides a great set of tools and a user-friendly dashboard. New sellers can easily make a presence in the digital environment. Be it seamless integration with payment gateways, logistics, and migration from other platforms.
SellerApp
This is a YES bank collaboration which specializes in grocery, décor, and home categories. It provides features like catalog management, inventory, customer orders, and reporting as required.
uEngage
This is a seller app that offers a controlled dashboard with customer information and inventory. It will assist visitors with KYC verification in serve food and beverage industry.
Gofrugal Technologies
It will enable sellers in omnichannel selling with next-gen solutions. Merchants have the benefit as they can manage the sales and inventory information from the admin panel. The major dealing is in the category of grocery, food, and beverage industries.
Growth Falcons
They have a presence in Bengaluru and New Delhi for businesses related to food and beverages. This is an AI-based application that ensures quick analytics, onboarding, and logistic integration.
ITC Store
It will enable small and medium-sized business owners. Be it grocery, stationery, and personal care requirements, which serves in Mumbai and Delhi NCR.
eSamudaay
This ONDC seller app supports local economies with a simple registration. It is mainly for businesses dealing with grocery, beverage, and food merchants. This app has made its presence in Bangalore, Ahmedabad, and Lucknow. It will also provide the best features for order processing, fulfilment, streamlining, and managing products.
How can Small Retailers Make the Best of the ONDC Platform?
- Find your Niche: Build a niche for selling products, which is a smart decision to grow in a competitive market. Also, you need to target a specific group of customers that actually connect with your brand and have higher chances of repeat business.
- Product Catalog and Listing: An organized catalog will make or break your business. It will give you multiple options to refine and dedicate the product catalog to make informed decisions. This will help you highlight essential details like features, dimensions, availability, color, reviews, and others for better marketing.
- Branding: Build a strong brand for small retailers in the digital world. Using the right features, you can represent the values and personality of the business, making a strong impression on the customers.
- Data Analytics: This is an incredible method to know the performance of your business and make improvements if necessary. If you have access to the store’s performance, you can gain a complete image of the company and focus on a wide range of metrics.
The End Note
With the emergence of brands through ONDC, it will be easier to meet the expectations of each industry and customer requirements. The best you can do is rely on ecommerce development services that have a wide experience in the industry and stay updated with the latest trends.
The main aim of ONDC is to streamline the Indian logistics industry, which will boost the efficiency and reach of small and medium-sized businesses.
