Are you planning to start an e-Commerce business in Nepal? But, confused about where and how to start an online business in Nepal? Do not worry. We have come up with a detailed step-by-step guide that will guide you in starting an e-Commerce business in Nepal.
What is the present scenario of the e-Commerce business in Nepal?
Firstly, e-commerce means carrying out all the business activities like purchasing and selling products through online transactions.
In Nepal, online transactions began in 2000 after Thamel.com and Muncha were launched. Now, there are several e-Commerce businesses in Nepal in many fields. Some of the booming online businesses in Nepal are Daraz, E-Sewa, SastoDeal, HamroBazar, FoodMandu, and many more.
Moreover, the sudden outburst of the pandemic Covid-19 and imposed lockdown has forced people to think of new alternatives. Therefore many entrepreneurs and solopreneurs are launching new online business ideas even more than before. In Kathmandu valley and the cities outside of the Valley, the e-Commerce business is rising.
Is it profitable to start an e–Commerce business in Nepal?
In Nepal, the e-commerce business has a bright future and tremendous potential. You can now quickly start an online business due to technological advancements and widening internet facilities in almost every part of Nepal. Also, the increasing trend of online shopping has set the scope to the next level.
Nowadays, every sector, such as food delivery services, online pharmacies, and many more, is launching its business online. Many shopping portals, digital apps and social media awareness are creating a significant impact on the shopping habits of Nepalese people.
Furthermore, the e-Commerce business platform is easily accessible and time-saving. They offer diversified and standard prices of the product that make easy comparisons of them among customers. Similarly, the cost of producers is also reduced. Therefore e-Commerce business in Nepal has tremendous scope and is highly profitable.
How to start an e-commerce business? Step by step guide
Online business is indeed risky and challenging as it is a new concept in a country like Nepal. But, by following these guides, anyone can raise their e-Commerce business to the next level.
Find an innovative product idea.
To excel in the internet business world, you have to think out of the box. If you follow the existing business ideas, then there will be fewer chances of making higher returns. Therefore, look for an innovative business idea or innovative ways to launch already existing business ideas. While selecting a product, also consider its applicability in customers’ life.
Do market analysis
After finalizing an idea or product for your e-Commerce business in Nepal, market research is the next crucial step. It is indeed needed to determine whether your product will make a profit or not.
Furthermore, make a pre-analysis of what your opponents or competitors are doing. It will help fill any gap that others are doing and lead you to the next step further in the e-Commerce business in Nepal.
Obtain final product for launching in e-commerce business in Nepal
If your conceptual idea or product has great potential in the market, then it’s time to turn that concept into reality. Figure out whether you will manufacture it all by yourself or collect ready-made products and sell them.
Think of catchy business domain name and logos
The next important step for the success of any e-commerce business is to set a catchy and relevant name and logo. So that customers can imagine your product and your concept better way. Also, it will play a crucial role in attracting more customers, which can ultimately increase your sales.
Similarly, make sure to keep your business name as simple as possible so that customers can easily remember your business domain.
Register your domain
After finalizing the unique name for your online business, you have to register it. If others have already used the same name, then you can’t use that domain name. Therefore, it is best to register as soon as possible You can choose from several domains like .com, .enterprises, .deals etc., based on your business type.
Furthermore, you have to pay a certain amount while registering your e-commerce business in Nepal. And, you can make registration from Himalayan Host, Weblink Nepal, WebTech Nepal, Nepal link and many more other companies.
Determine your business horizon and delivery options
Decide whether you are launching your product in local markets or global markets. Also, fix your delivery options by either hiring a delivery person or collaborating with courier companies.
Decide payment option for your e–Commerce business in Nepal
Cash on delivery cannot be feasible in all online businesses. Therefore, you have to widen your e- payment options like e-Sewa, Khalti or mobile banking.
Find the best suitable platform for your online business
Another important step is to discover the perfect platform where your potential customers spend more time. Besides developing your website, you can promote your brands through different social media platforms. It will increase traffic to your website and eventually selling too.
By following these simple steps, you are ready to launch your e-Commerce business in Nepal!