Reinvent your business to adapt to changing customer habits

The pandemic has accelerated certain trends in consumer behavior like a spike in online purchases, use of chatbots etc. E-commerce is the cheapest way for an MSME to showcase its products and maybe it’s time to take the business online and improve the social presence of the business. It is also a good time for MSMEs to think of improving their productivity and accessing new markets to sell the increase in production.

Task Points to ponder Comments / Next Steps
  • Would you like to export your goods?
  • IEC number is needed from the Directorate General of Foreign Trade
  • GST number is needed
  • Authorised Dealer code is needed from the bank of the exporter
  • The exporter needs to be registered with Customs to be able to export through the port
  • Trademarks may need to be protected in foreign lands by registering them outside India as well
  • Taxes are not exported so MSMEs would get refund of GST paid as input tax credit
  • Consider export as growth of products would need new markets
  • With COVID 19 the changes in the social habits of people have accelerated and online purchases are booming. Would you like to take your business online?
  • 50% discount offer on Annual membership in MSME Mart extended.
  • Consider making a website or using Government e-commerce portal
  • For exports many online platforms could be explored
  • Improve social presence
  • Consider changing your business operating model to suit changing consumer needs
  • Are you thinking about serving your customers better?
  • Improve packaging and quality of products
  • Improve market image
  • Give prompt delivery
  • Ask for feedback and post online
  • Leverage Customer relationship management systems and data
  • Consider using chatbots
  • Adopt a customer centric approach as the customer habits are changing fast