Key takeaways: E-Commerce Service Providers in India

• eCommerce businesses can continue to grow during the recession with the right eCommerce Support Solutions
• As one of the top E-Commerce Service Providers in India, Phykon has effective, hassle-free solutions
• Boost revenue, save more and spend significantly less than you currently do — with Phykon

Are you debating which decisive steps to take to weather the looming recession? Thinking five steps ahead and gearing up for it is key. But what measures would be a safe bet, especially when you are trying to keep expenditure to a minimum?

Strategic ECommerce Support Solutions from Phykon can position your business for both short-term and long-term success, recession or not. You would be boosting revenue, saving more, building a recession-proof business and spending significantly less than you currently do.

We’ll show you how you can ship like the big businesses even during a recession. 

What does this Recession mean for online stores?

First, let’s try to understand what ECommerce businesses will face during an economic dip. And why is it important to put interventions in place that will safeguard your online business and allow you to continue delivering value to your customers?

• Consumer spending will slow down considerably as they try to build savings to protect themselves.
• Competitors will try to outdo each other in order to keep up sales to compensate for the drop in consumer spending. And today, the number of competitors in the eCommerce field is staggering.
• Suppliers and retailers will start to compensate for the dip in sales by adjusting pricing, possibly leading to inflation.

And while ECommerce businesses are trying to make sense of this looming crisis, they are also dealing with consumers who want to leave the pandemic behind and want to head out more.

What do you need to change to adapt and thrive during a Recession?

Cut Costs

It comes as no surprise that businesses with huge overhead costs will buckle down under economic pressure. This is especially true when expenditure does not yield revenue or sales that count. If this is the case, then you need to look inward and find out if there are business processes that can be made more efficient without excessive spending, operations that you can eliminate, or any changes that you need to make but do not have the budget for. What can you trim? What must you retain? And what must you improve?

In short, you need to analyse your business critically to come up with a cost-efficient way to keep your operations running without affecting the quality of production. This is very much doable, without any hassle and within a tight budget. Engage Phykon, one of the top E-Commerce Service Providers in India, and utilise our cost-effective eCommerce solutions.

Subject matter experts at Phykon can walk you through various cost-effective services you can adopt to get better work done for a lower cost, without compromising on quality. We often implement hybrid solutions that work with your existing system. Sometimes, it would be prudent to include solutions that you probably had not been using altogether. At other times, you do not always have to overhaul your entire process — all it takes might be a few tweaks.

Outsource and Stay Lean

This is the oldest method in the book. And one that has proven time and again how businesses can run efficiently without the heavy spend. In-house processes are, without a doubt, more expensive than outsourced processes. When you outsource, you do not have to spend on infrastructure, equipment, technology, staffing and other resources. Nor do you have to spend time and money maintaining, updating or overseeing these. 

With an experienced service provider like Phykon, you get world-class service delivery through quality-monitored processes, monthly governance, strict SLAs and only the best of the best professionals working on your team. Phykon has close to two decades of experience in outsourcing, so we know business processes like the back of our hands. And we also know how it would cost you just a fraction of what it does right now when handled in-house, all the while ensuring uncompromising quality. This is why all the big brands around the world vouch for outsourced support. 

Rethink Your Marketing

You need to keep marketing your product/service. Sometimes, marketing is the first thing to go when businesses are facing a crunch. But that would not be the right move for ECommerce businesses as marketing helps you keep up with customers and create demand. You need to keep your existing customers interested while capturing the attention of new ones. Phykon helps clients use this time to build brand awareness and recognition.

Some basic changes that you can make would be to spruce up your website and make it easy to navigate. Utilise social media to put your name out there. Reach out to micro-influencers and, through them, connect with hundreds of their followers. This way, you can reach out to more potential customers via channels that you probably have not explored before. 

Connect with new consumers via emails. You can also keep in touch with your existing subscribers and send them usable information while building brand loyalty. Email marketing will keep your brand at the top of their minds.

Be Customer-centric

While the recession can bring down the purchasing power of consumers, eCommerce businesses must know why their customers are shopping and how the stores can accommodate consumer needs best. Knowing who is shopping and why will help your brand refine product recommendations and design offers around these preferences. This will win hearts and increase sales.

As one of the top E-Commerce Service Providers in India, Phykon has been designing its business solutions based on insights gained over two decades of interactions with customers. Which is why we know that building a great customer experience will ensure your consumers buy from you not just now, but even after the recession too.

Your customers are putting more thought into buying from you. It is important to sway their minds in your favour with the right customer experience. Focus on resources that will retain high-value customers who are likely to stick with you and would recommend your brand.

Smarten up Your Store

Take advantage of automation to help you during these tough times. You can optimise operational costs with automation. Automation will help you scale without spending more. Spend less time on non-revenue generating activities. When you automate processes, you allow your employees to deliver more value-added service while the repetitive tasks get done faster and without errors, on a daily basis. From the business’s perspective, you don’t have to spend extra on hiring, training or retaining more staff.

Phykon ensures faster turnaround times and efficient work output with zero errors and 50% cost savings through automated processes, for our clients. Similarly, you can deliver high-quality service without staffing up for repetitive jobs. Rather, you can hire specialised experts who will have a direct impact on the bottom line through their specific skills. 

Improve Your Processes

Streamline and optimise your workflow and operations before the crunch hits. You can realise increased productivity and efficiency with customised ERP solutions that fit your business like a glove. An ERP system designed around your unique processes can be a great growth booster. It is a central repository of valuable data that can be updated in real-time and accessed 24/7, anytime, anywhere. This can streamline your business processes. It sets everything in place, provides 360 degree visibility, boosts productivity and increases accountability. This can be a great tool to build a strong back office, maintain a low inventory and increase your business’s resilience. 

Phykon’s customised ERP solutions help businesses by including only what they need. We do not believe in an off-the-shelf solution. With such ERPs, more often than not, businesses end up spending on modules that they never end up using. We tailor our ERP and cut out the fluff. This way you can include exactly what you want and add on more later, if needed. With our ERP Solution, you can eliminate duplication and variance of information by having it in a centralised system that can be updated in real-time and accessed by all the stakeholders for timely and informed decision-making.

How Phykon Can be Your Business Game-changer

You might be surprised to learn that these are the very moves that we get our clients to do — recession or not — to boost revenue, become efficient and improve profitability. This is why Phykon’s solutions have always been preferred growth facilitators. Our BCP-backed business solutions turn our clients strong inside out. With robust processes, lower overheads and real-time information, they are poised to ride out the economic downturn without worry.

Businesses looking to grow, become stronger, reach more audiences, cut costs and turn resilient have been adopting these solutions from Phykon, delivered with 100% effectiveness:

• Customer Support
• Technical Support
• Order Management Solution
• ERP
• Digital Marketing
• Back Office Support
• IT Infrastructure Support
• … and more

ECommerce businesses need to produce, distribute and market products while maximising profit. You need to keep your overheads low while ensuring big margins. When consumers are being tight-fisted all this can sound like a tall order, but very much doable with the right interventions.

We know this because we are one of the top E-Commerce Service Providers in India, We have been consistently delivering high-quality, cost-effective business solutions to growth-focused companies for more than two decades now. And we can help you tide this crisis too with tailored solutions that will boost your business.

Call us today for a FREE strategy consultation. Ask us questions, explore our solutions and see for yourself how easily you can arm yourself with the right solutions that work for you.