You have a tuned sense of smell and you want to start a fragrance business with small capital? Then starting your own online perfume store business is just perfect opportunity for you. Yes, to start your own online perfume store business you will definitely need to have an eCommerce site. And when a software will do every work related to setting up an online perfume store, it will be quite easy to initiate an online perfume store business with really a small capital investment. Financially most important aspect is, you need not pay any cost for retail space.
Online Perfume Store Business – Market Potential
We are all aware of the increasing demand of the perfume day-by-day. According to a study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Indian fragrance industry is growing at a compounded annual growth rate (CAGR) of 40 percent. It is likely to reach a figure of Rs 10000 crore by the year 2015. Indian fragrance industry consisting of deodorants, perfumes, and roll-ons.
The market is set to benefit from the growing trend towards consumer urbanization, higher spending propensity and the heightened importance of personal appearance and grooming. In addition, increased demand for youth-oriented, floral and exotic fragrances and celebrity perfumes will set the pace for rapid market expansion.
Market Research For Online Perfume Store Business
An intensive market research is a must in starting online perfume store business. You can search forum sites, online communities, lifestyle magazines, and social networks to get sufficient data. Once you’ve collected enough information, you can start constructing profiles of your typical customers. Market research is one of the most crucial aspects of running online perfume store business.
Sourcing For Online Perfume Store Business
According to your plan, you will need to procure the material. You will need to select the reliable vendor who can make the delivery at your doorstep with a reasonable wholesale price. Buying wholesale is the best way to turn a profit when you sell directly to the consumer. Contact the wholesalers directly to get pricing quotes. Compare wholesale prices to current market prices and calculate your profit per sale. You must keep a different variety of perfume such as for ladies, for gents or combo with different price segment. Perfume is also considered as a gift item. So the packaging is also an important aspect of this business.
Deciding Online Perfume Store Business Ecommerce Platform
If you are technically good at WordPress and have knowledge about WooCommerce plugin, you can try WooCommerce powered by WordPress Platform. But remember with WooCommerce you have to provide a lot of time in creating and managing the store in technical matters. If you want to spend more time in marketing, sourcing and growing the business and leave the technical aspects of eCommerce outsourced safely we would recommend Shopify. Shopify has excellent customer support system. It comes with a total eCommerce solution for your eCommerce Store. You can try Shopify for free from HERE.
Free Tools For Online Perfume Store Business With Shopify
- Invoice generator
- QR code generator
- Policy generator
- Business loan calculator
- Image resizer
- Business name generator
- Pay stub generator
- Shipping label template
- Barcode generator
- Business card maker
- Gift certificate template
- Purchase order template
- CPM calculator
- Bill of lading template
- Slogan maker
Promote Your Online Perfume Store Business
Now you have configured your own online perfume store business with uploaded products. The next step is the promotion. Getting customers and making the first sale and going on. Tell everyone you know about your new online perfume store business. Draft a press release and send it to all local media outlets – news, magazines, and radio. Take time to write a good press release. Apart from traditional press, you can also reach out to influential and relevant bloggers. Ask them if they would like write a review or sample products. Optimize your site by using relevant keywords in product descriptions, category pages as well as the URL. Search engine optimization plays an important role when people search for any specific product on google. Increase customer interaction with the help of popular social media such as facebook, G+, and twitter.
Recommended Tools for Startups
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.