commerce II Article 3

Talking of e-commerce experts, there are many who took the step ahead well before time and are enjoying the benefits of being the first movers. Small and Medium Enterprises (SMEs) are building a professional online presence by registering to B2B portals and are tasting success as the amount of queries generated has been growing. According to a study by Google, there are around 30-35 million SMEs in India, out of which about 8 million have the potential to do online business.

Aligarh based Mayank Goyal runs Masterpiece Jewellery who exploited the e-commerce platform way back in 2006 by joining Alibaba.com and developed the first-mover advantage. Dealing in silver, gold and gemstones, Goyal exports them to countries like US and UK and unconventional markets like Spain and Italy, all thanks to e-commerce. Goyal's business turnover is more than Rs 6 crore now and has been increasing by around 50-150% every year. The average transaction sizes anywhere between Rs 2-3 lakh.