Created by - Yashraj Gautam
If you’re the one who wants to expand your brick-and-mortar store to include a digital channel, there are a few things you should know before proceeding.Hopefully, you’re already familiar with the many types of taxes that apply to internet purchases. Make sure you understand all of the taxes you’re responsible for. Value Added Tax, or VAT, is one sort of tax system for selling eCommerce items in India with a proper ecommerce marketing strategy.Click to get Amazon Training at just Rs.99What do you mean by VAT?When a customer buys a specific type of goods from a retailer, a special tax or VAT is imposed at every stage. This tax is classified as an indirect tax in India since it is paid to the government through indirect ways by the taxpayer (producer or supplier of goods and services).VAT is a tax imposed on the various phases of the production of products and services, as well as the sale and purchase of such goods and services. In India, every person/manufacturer/seller who supplies products and services for more than Rs. 5.5 lakh yearly is subject to value-added tax, or VAT. This tax is levied on both domestic and international eCommerce products and services.Input VATThe merchant or producer adds input VAT to their purchases. For most company purchases, VAT registered users must pay the state government every month.Output VATThis tax is levied on the buyer for a sale transaction completed by a VAT-registered shop or manufacturer. To make sales for a certain amount, the seller of goods and services must register for VAT.What is GST, and how does it work?The Goods and Services Tax (GST) has replaced the Central and State indirect taxes like as VAT, excise duty, and service tax as of July 1, 2017. You need to register for GST for making your business work in a smooth manner. What is the formula for calculating GST?The Goods and Services Tax rates for most eCommerce items fall into three categories: 5%, 12%, and 18%. The majority of services, on the other hand, are subject to an 18 percent GST.Currently, there are three types of GST:GST (Central Goods and Services Tax) – This tax is applied to sales inside the state and is reported to the federal government.State GST (SGST) – This tax is imposed on sales inside the state and is paid to the state government.Integrated GST (IGST) – This tax applies to all sales made outside of the state and is reported to the federal government.The GST computation formulaGST Amount = Supply Value x GST Percentage /100The price charged is equal to the value of the supply plus the amount of GST.When GST is included in the value of a supply?GST Amount = Supply Value – [Supply Value x 100/(100+GST percent)]Benefits of ecommerce solution providers Over VAT The Goods and Services Tax (GST) is a single, all-encompassing, and destination-based taxing system that applies across the country. GST has revolutionised the way tax is collected on eCommerce products and services by removing the tax cascade effect, simplifying tax filing procedures, and reducing compliance concerns.Calculating Taxes the Old Way (VAT)Assume that the handcrafted goods are sold for Rs. 1000 from Delhi to Mumbai.The VAT on the sold goods is 10% of Rs. 1000, which equals Rs. 100.As a result, the total cost of the goods sold from Delhi to Mumbai, including VAT, is Rs. 1100.2100 rupees is the selling price.S.P. was subjected to CST at a 10% rate, resulting in a result of 210.The total cost of the product sold is Rs. 2100 plus Rs. 210, for a total of Rs. 2310.Conclusion As a result, the GST is more profitable for merchants than the VAT (VAT). As your business investment develops, the Goods and Service Tax (GST) becomes more favourable. I hope you now have a better understanding of what VAT is and how it differs from GST. For smooth company operations in India, e-commerce firm owners should observe the Inter-State and Intra-State GST requirements. We hope that now you have understood everything related to the importance of VAT for the ecommerce business.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
Each seller begins by selling on a single platform, with the ultimate objective of growing their business through the benefits of multichannel selling.As a result, the multichannel eCommerce platform assists vendors in reaching this aim and guides them about how to sell products online.Although 73 percent of merchants believe that selling across various channels is important, just 38 percent believe that selling on a single platform is. If you’re still undecided about using a multi-channel eCommerce platform, consider the following benefits of doing so.Click to get Amazon Training at just Rs.99Customer Perception in an improved mannerConsumer loyalty is high for brands that provide a frictionless purchasing experience. They are, nevertheless, seen as being responsive to client demands, buying patterns, and internet savvy. Multichannel distribution allows brands to stand out in selling marketplace not just because of reduced pricing, but also because it is more convenient.Conversion rate is improvedA multi-channel eCommerce network provides you additional selling options, which means that, in addition to the ability to target a wide range of market segments, your brand’s recognition will skyrocket. It will assist in attracting more potential buyers and, as a consequence, enhance revenues. It also provides you with a variety of upselling incentives, ranging from ordinary transactions to incentive transactions to personalised reviews, all of which benefit your bottom line.Customer loyalty is increased.Consumers want to be able to make purchases while doing other things and on the go in today’s chaotic world. Online selling sites India software enables you to provide a more streamlined and seamless customer experience across many sales channels. increase client retentionThis also allows you to provide a variety of customer support channels, such as social media and live chat, as well as email and telephone, all of which will reward you with increased client satisfaction in the form of greater feedback and future purchases.Risk is lessA multi-channel eCommerce network eliminates the risk of depending on a single-channel sales system. A multi-channel product listing programme helps you sustain by diversifying the risk on the other networks in the event that one of your accounts is suspended or one selling route loses traction.Presence Expands It guides you with how to sell product on amazon. The customer scope is considerably greater when you increase your market presence using a multichannel order management system. As a result, you will be able to increase your mass market penetration. Even if you’re a small business, you can use Amazon’s massive reach to get your product and/or service in front of a much larger audience of potential customers. Increased visibility will eventually lead to greater money thanks to multi-channel sales software’s straightforward fulfilment and checkout processes.Improves inventory A multichannel inventory management application may aggregate data from all networks, processes, and divisions. It guarantees that you can trace the inventory of a given product across all of its storage sites. It has two major benefits. To begin, if you see that a default shipment location isn’t perfect, you may choose the next lowest shipping position to save money on shipping charges. Furthermore, if you make an order for an out-of-stock item, you may check with each distributor to see if it can be supplied from a different location, thus saving you a sale that would otherwise be lost.Collect useful information They assist you in gathering a wide range of information on your clients. Because you have so many selling channels, you can create a detailed profile of your target market as a whole. A multichannel listing app may help you obtain and analyse key data such as their purchase history, demographics, time zone, location, devices they use to shop, preferences, and so on. All of this information will immensely aid you in properly structuring your sales plan and marketing techniques in order to increase your conversion rate.Concentrate on your target marketsMerchants may generate customised promotions based on the shopping platform that their B2B clients use. Retailers who sell across many channels of distribution have more information about their consumers and may use that knowledge to enhance sales. The possibility for businesses to include tailored marketing and so improve brand recognition is typically provided by tracking customer transactions.So that was all there was to it when it came to the benefits of multichannel selling. Now tell us about the greatest selling e-commerce platforms.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
FBA SellerAmazon provides its fulfilment by FBA. It is a premium service of Amazon where you can send your inventory. They fulfil the order requirements of your incoming order. The tag named “Primary delivery” or “Fulfilment by Amazon” shows the products sold through FBA.Click to get Amazon FBA TrainingBenefits of FBAYour Items, Their ResponsibilityYou store your products in Amazon inventory centers, and they will take responsibility for picking, packaging, shipping, return of items.Get the Prime BadgeIf you avail of FBA, you will get more visibility and executions of your products by Prime Badge. This badge ensures buyers faster delivery.Your Profitable But BoxThe more your items will be delivered fast and efficiently, the more you will get chances to achieve Buy Box.Working Principle Of FBAStep 1: You have to select first the Amazon fulfillment center to store your products. You will be asked to choose your preferred center in your state. Then you need to choose your state with your GST number.Step 2: then, you have to share your business credentials like; GST, PAN Number, business Deeds, and others that would be remained confidential in Amazon’s locker.Step 3: After that, you should register the names of the fulfilment centres on your GST certificate.Step4: After submitting all relevant documents, the Amazon team will verify the details and enable your FBA within a day.Step 5: Lastly, you have to send your products through Amazon Inbound Transportation (ATS) system to your selected fulfilment centre. Here item will be picked from your location at nominal charges, or you can do it on your own, or you can take third-party services.Shiprocket for Social SellersIt is beneficial for any Amazon seller for its various facilities, and it is the top e-commerce shipping solution with the lowest shipping rate.Benefits of ShiprocketOwn Shop/ Marketplace sellerIntegrations with different third-party services and marketplaceNotifications facility from customers through SMS or Email. Various numbers of pick-up locations and a vast range of delivery reach.Benefits For High volume shipperTools for order management and controlling in exceptional casesMinimized RTO ratesData statistics and reportingGrow your e-commerce business and reduce costDomestic Shipping charge at Rs. 20/500gmsInternational delivery charge at Rs 110/50gms.Collaboration with top courier service providersDelivery coverage in 29000 pin codes over 220 countriesReturn costs are lower than forwarding chargeeImprove shipping qualityObtruncate benefits of “Courier Recommendation Engine.”NTR and RTO dashboard will help to reduce the chances of being undelivered.Some clicks will process an ample number of orders.Superior experience for your customersOrder tracking facility through SMS and EmailOn return requests, easy pickup is available.Working Principle Of ShiprocketSelect your shipmentWith automated channel synchronization, you can import your orders and ship them.Choose the right courier partner for your shipmentSelect a courier partner that fulfils your requirements.Packaging and shippingOrder will be packed, tagged, and handed to the courier partner for shipping.Order trackingTrack the order location to inform your customers via SMS or email notification.Payment processYou can make your order process faster with prepaid payment. If you select other marketplaces, you have to go with the COD payment process.The ConclusionShiprocket is suitable for smaller to medium enterprises that prefer quick services to reach more customers and fulfil the basic requirements of the buyers. It is effective for business growth. Delivery is highly effective than FBA at lower shipping charges and gives widespread reach, but in FBA, you have to cover a good charge to maintain the full delivery costs. Shiprocket also provides a wide range of facilities than FBA. So it is good to choose Shiprocket over FBA.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
ABC analysis is an inventory categorization method that determines the most and least valuable product in one’s inventory.Followed on the lines of the Pareto principle, it says that 20% of the most useful products in your inventory is accountable for 80% of the total revenue a company or store makes.The inventory management system is not only complex but also quite expensive. A study reveals that nearly $1.35 is required behind inventory for every dollar of sales made.Coming back to ABC analysis, let us dig deep and learn more about it.Click to get Amazon Training at just Rs.99What is ABC Analysis?As discussed earlier, ABC analysis is a method to determine the best and worst-performing products within your inventory. While it follows the Pareto principle or the 80/20 rule, here is a deeper classification of this methodA Grade- This class is for the best performing product. This product is responsible for bringing the maximum revenue. Since it is the most valuable product, it should be safe and prioritized.B Grade- This product class fluctuates between best and worst and accounts for nearly 15% of the total revenue.C Grade- This class of products is the worst-performing inventory and accounts for almost 5% of the total revenue. These products are also referred to as dead stock.Benefits of ABC AnalysisFree business consulting sessions tell you that there are many added benefits of running an ABC analysis regularly. Some of them are listed here.Better Inventory ManagementThe best and worst-performing items are clearly highlighted when you run an ABC analysis on your inventory. Pick the A-grade products and put the maximum budget selling them for entire revenue generation. Deprioritize the C grade products since they bring minimum value with the help of an inventory management tool.Better Customer SatisfactionFree e-commerce training and ABC analysis help you determine the grade-A products; you can work on them more closely and ensure that they are always available at the disposal of your customers. Make sure that you never miss the opportunity to sell your best-selling product.Improved Pricing DecisionsWhen you have your worst performing products listed, you can spend less on them and save some revenue. Thereby, you can use that revenue to increase the sale of the Grade A products for maximum return.How to Run an ABC Analysis?To run a proper ABC analysis, you need a simple formula to calculate the best and worst-performing products. Firstly, you need to calculate the revenue generated by a particular product. Next, divide the number by the total revenue generated after selling all the available products at your store. Repeat the process every time, and you will get a fair idea of the best and worst-performing items.The top 80% of revenue-generating products are A-grade products. Falling in the middle of the rack are B grade products. Apart from that, the least performing or 5% revenue-generating products are the C grade products. ABC analysis is a required method every business should perform.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
One of the leading technological research labs carried out a 12-month long study regarding the cyberattacks on eCommerce websites. The numbers they found were quite astonishing, as online bots did nearly 57% of the cyber attacks on these websites. At the same time, the rest of the industry averaged a mere 33%. The study mentions that eCommerce websites are at the maximum risk of being disrupted due to cyber attacks. Since these platforms are working all year round, specifically during the holiday seasons, cyber bots target them to damage their services.Click to get Amazon Training at just Rs.99.This study on how to prevent cyber attacks also revealed that the monthly rate of cyber attacks on retail platforms increased by 13% in 2021 compared to the monthly attack rates in 2020. Due to the rapid technological advancement, the number of sophisticated bad bots also took a toll on retail platforms in 2021. Sophisticated bad bots are challenging to deal with since they replicate human behaviour on retail platforms. They can break complex lines of defence and disrupt simple services. These bots are responsible for frauds, inventory disruption and account takeovers, making it difficult for customers to purchase what they want. All these topics are discussed along with prevention methods on Google certification courses in cyber security.Data over the last quarter of 2020 and the first quarter of 2021 showed that the maximum attacks were carried on during high website traffic. Data leakage was ranked as the highest form of attack, mainly targeting customers’ payment details. Moreover, data leakage accounts for nearly 31.3% of the total cyber attacks by bots compared to other industries that average around 27%.Another surprising number was shared when the course regarding how to protect your company from cyber-attacks said that account takeover attempts leading to unsolicited account logins took a toll of nearly 32.8% in 2021. At the same time, the other industries recorded this number at only 25.5%. Ecommerce platforms need to be exceptionally careful regarding cyberattacks since customers have their payment information stored on those websites. A single nook can leak all of it, putting consumers at extreme risk of cyber theft.The same study revealed that DDoS attacks or Distributed Denial of Service attacks rose to nearly 200% in September 2021. While eCommerce platforms expect some rise in DDoS attacks during busy seasons, the number was extraordinarily high last year. If this same trend continues for a long time, online retailers will be under severe threat from bots.If you, too, want to get insights into the world of cyber security and secure yourself from bots while online shopping, consider taking the eCommerce certification course free. This course leads you through a series of essential practices that you should follow while shopping online. Since all your personal and payment information is stored within the databases of the eCommerce platforms, the chances of getting scammed through bots are nothing unnatural. Thus you need to secure your data under all conditions, and these courses will help you do so.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
Since the era of online presence has changed over the past few years, the post-purchase experience counts way more than the purchase journey itself. Thus, marketers are running hard to optimize their customers’ post-purchase experience. While the customer base is so vast, manually keeping up with individual customers is not possible. Hence marketers have turned to automate bulk email marketing services for their customers. This has helped them reach out to the majority of the customers and provide a better post-purchase experience.Email marketing automation has arisen as one of the most efficient and inexpensive methods of optimizing the customers’ post-purchase experience. Following is a list of email automation services that free email marketing courses teach for you to draw customers more every time.Transactional EmailsTransactional emails are the ones that are sent to list essential transaction details like order summary, payment terms, delivery confirmation and much more. Transactional emails are usually short informative and are designed to catch the attention of the recipient. These need to be sent as soon as the order is placed and confirmed.Order Status EmailsThe order status emails or shipping notification emails are meant to be sent at regular intervals to the customers. These give out essential information like the order’s status, shipping status, and location information. Every time the order reaches a landmark, email the customer for a quick status update. The customer should receive a notification even if the order cannot be sent in due to unforeseen circumstances.Feedback Request EmailsThis is an essential email marketing automation type where you ask for an honest opinion from the customer about your services. These emails help you achieve extensive insights into performing and serving your customers. You can then accumulate the results and work further accordingly to improve and serve better. Ensure that these emails are sent within a specific time.Product Information EmailsMany products need to be explained close to the customers. If you sell any product that needs an explanation of working methods, ensure that you have an automated email ready. You should send these out as soon as the order is placed so that customers can go through them instantly without any confusion. You can also offer additional help by linking the contact of your support team.Product Recommendation EmailsThis only works when a customer has been to your website and has shown interest in some products. Now that you know what they are interested in, you can send them personalized emails recommending different products. This is a great email marketing strategy as it helps to increase the chances of conversion.Thank You EmailsThese should be sent as a token of gratitude to the customers for selecting your brand. Once the order is placed, you should send thank you emails alongside the transactional email. Instead of nagging too much, stay short and formal while thanking the customers. This allows your customers to realize that you value their decision in choosing your brand.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
Since people are more inclined towards convenient services these days, they have turned to e-commerce sites. Their subscription plans are suitable and save a lot of bucks for customers. While the overall subscription e-commerce market is expected to reach a mammoth economic mark of $473 billion by the end of 2025, it is already a people’s favourite while it was only $15 billion in 2019. A great majority of the consumers have already signed up for some subscription services to get items of daily use. Teens these days are never short of business ideas to start from home, and hence the popularity and opportunities within this market are immense. If you are willing to create one of these subscription businesses, you need to know the specifications behind the model.What is Subscription Business?The subscription business model is an up and coming business model where consumers pay a certain recurring fee to access a specific product or service.Here are the benefits of this business model.Anticipated RevenueWhen you set a separate subscription fee, you will have an idea of the anticipated income at the end of every month. All you need is to determine the exact number of consumers who have signed up for the plan.Efficient Cash FlowAs most businesses pay for the total amount in advance, even if it is at a discounted price, the cash flow remains steady. Hence the subscription revenue model in e-commerce is so popular among teens and business giants.Customer Acquisition is CheapThe best part about a subscription business model is customer acquisition is relatively inexpensive compared to a pay-per-product business model. Since there is a steady flow of revenue as the consumers regularly pay, drawing new customers on board is never a worry.Customers are LoyalWhen customers purchase your product or service at a regular interval, you are more likely to study their behaviour better and closer. The frequent intervention helps to constantly improve the quality of your services, and hence the loyalty chain is maintained. As per a study, nearly 67% of the old customers tend to make more purchases than new customers.How to Build a Subscription ModelAs the small business ideas for teens is growing every passing day, different platforms are coming up with ideas to help teens reach their goals. They provide the basis for people to implement their ideas and build an entire business. Platforms like Shopify have helped create subscription businesses for people. They have methods to optimize your business and provide better solutions.All you need to do to launch your business is sign up for these platforms, design your business and subscription model, and start working to collect customers. With the help of some other third-party applications, you can boost your sales, manage your business and facilitate the existing relationships better with your customers. These third-party apps are linked to the parent app and help you smoothen your work.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
Orders totalled 540.3 billion yuan ($84.54 billion) throughout Alibaba’s 11-day Singles’ Day sales event in China, a rise of almost 8.5% over the previous year.The results coincide with a slowdown in China’s overall consumption and mark the end of a sales festival that Alibaba previously marketed vigorously.Before the sales period, an Ecommerce Expert predicted that Alibaba would only post a small gain in GMV this year, citing decreasing retail sales, supply shortages, power outages, and COVID-19 lockdowns.As a result of the efforts of Alibaba in 2009, China’s informal Singles’ Day became one of the world’s most popular online shopping events, dwarfing Cyber Monday.After the Double ElevenTheir share prices varied a day after Friday’s trading session event because of the enormous amounts of purchases made on JD.com and Alibaba’s platforms.In Hong Kong on Friday afternoon, JD’s stock jumped approximately 4.6 percent, while Alibaba’s fell by about 1.8 percent. JD and Alibaba Both Recorded Record-breaking Transaction Volumes. A good Ecommerce Training is always helpful for people.An 8 percent increase in GMV to 540.3 billion yuan ($84.54 billion) over the previous year’s number of 498.2 billion yuan was recorded throughout the 11-day shopping period on Alibaba. With 349.1 billion yuan ($54.6 billion) transacted on JD’s platform over the multi-day extravaganza, the company’s transaction volume increased by 28% from the 271.5 billion yuan transacted in Singles Day 2020.Chinese consumers have a voracious appetite to purchase on both platforms, even though GMV and transaction volume don’t directly convert to revenue. As a result, the number of transactions on both platforms is now in the spotlight.An Event That Is Dedicated to Social ResponsibilityIn line with Beijing’s aims, CNBC reports that JD and Alibaba emphasized social and environmental responsibilities throughout the event. Compared to the previous year, JD reported cutting its carbon emissions by 26,000 tonnes over this period.It was a steady and high-quality increase this 11.11 Global Shopping Festival that reflected the dynamic Chinese consumption sector. To further our corporate social responsibility, we used the momentum generated by 11.11’s events. “This year’s event marked a significant milestone in our efforts to establish a sustainable future,” said Yang Guang, VP of Alibaba. You can Learn ecommerce Online free to know more about ecommerce.Singles Day Sale vs. 6 Days of Festive Sale in India: 30 MinutesAlibaba was able to sell $10 billion worth of items in the first 30 minutes of their sale, which is fantastic. Comparatively, during the Dussehra and Diwali sales this year, Amazon and Flipkart sold $3 billion worth of merchandise.In the first 30 minutes, Alibaba sold more than three times as many products as Amazon and Flipkart sold in six days. Precisely 29 minutes and 45 seconds later, GMV of $10 billion was crossed. Online ECommerce Expert can predict many things very easily.Facts about One-Day SalesFor the time being, Alibaba’s $1 billion sales are the fastest in the universe.A total GMV of $17.24 billion was achieved in the first two hours, surpassing 2016’s total Singles Days Sales volume.On Alibaba, $28.63 billion has been sold by Chinese customers in the first 14 hours of 11.11 Sales. Record sales of $30 billion were made on this day last year. Black Friday sales were $6.22 billion, and Cyber Monday sales were $7.9 billion last year.There were 1360 times more sales during Alibaba’s initial Singles Day Sale than during its peak. Alibaba handled 5.4 lakh orders per second.During Alibaba’s annual Single Days Sale, vendors from 78 countries display over 2 lakh products to eager Chinese shoppers.After just $7.8 million of GMV was sold in 2009, the Singles Day Sale was born.ConclusionBecause of its monopolistic behaviour and the $2.8 billion record fine it received in April, China’s most well-known business tycoon Jack Ma has shunned the spotlight since criticizing Chinese regulators a year ago.
More detailsPublished - Thu, 08 Jun 2023
Created by - Yashraj Gautam
A new airline has arrived in India, called SKYLINE INDIA! Since its inception more than two years ago, the cutting-edge marketplace has been working around the clock to bring this advanced online shopping method to the general public.Skyline is a one-of-a-kind market where wholesalers and retail customers may shop side by side in the same spot for a unique shopping experience. The company claims that users would no longer be obliged to use two distinct portals to sell and buy online products in bulk or individually, as with the competition. New York-based skyline.in is a wholly-owned subsidiary of skylineworld.com (the company’s global branch), which has its headquarters in New York, United States. The global launch of Skyline is scheduled to take place at the end of the first quarter of 2022. Users will be able to access both the international and Indian portals simultaneously, which will benefit both customers and sellers. There are Online Ecommerce Expert to help people in various sector of ecommerce. Therefore, SKYLINE is thrilled to be able to provide the lowest commission per sale available on the market, with commissions that are as little as one-third or even one-quarter of what other sizeable online eCommerce platforms charge. A good Ecommerce Training is helpful for knowing more about Ecommerce.According to Prabhat Chandra, the head of Vendor Operations at SKYLINE INDIA,“Skyline’s commission is, without a doubt, in a class by itself.” In India, SKYLINE now has over 15,000 merchants enrolled with the company. On the business’s wholesale and retail sales side, more than 200,000 products have been uploaded, with tens of thousands more being added regularly. Whether you’re looking for mobile phones and accessories or the latest autumn fashion trends, Skyline.in is your one-stop-shop for all of your buying needs in India. Customers can shop at Skylineworld.com for all of their wholesale and retail needs in one place, saving time and money. The mission of SKYLINE is to link small businesses with clients all over the world in a matter of minutes and with only a few clicks. Ecommerce Expert can help you in any matter of ecommerce.Because SKYLINE does not charge any commissions, they can offer their products at the most competitive cost imaginable. You can think of Free Online ecommerce training for help. The seller has an added incentive to outperform the competition on other marketplaces because they have complete control over the pricing. Keep a watch out for a potential partnership between SKYLINE and a brand ambassador in the coming weeks.
More detailsPublished - Fri, 09 Jun 2023
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