These people are found very updated and trendy and spend lots of money in shopping new and high quality brands. Targeting educated people As the targeted audience is educated so it will be easier to adopt the new system of online shopping for them.
Strengths and Weaknesses are the internal factors that are measured with a comparative benchmark, while Weaknesses and Opportunities are the external factors which are measured with a competitor in the same industry. Typically, the objectives of a SWOT analysis is to build the company strengths and minimize on weaknesses.
In an industry like ecommerce, you will want to take advantage of opportunities quickly so that you can break away from your competitors or other threats before they can neutralize it. A SWOT analysis does not take a small period of time and while you could often do it on your own, it is best to get an outsourced consultant from a better perspective to do it for you.
Your customers or clients would also be a source of information for you. They can easily spot weaknesses and perhaps give feedback on areas where improvements are needed.
It can be a wider selection of products, better customer support, quicker shipping, lower prices, better terms and conditions, etc. Weaknesses — One of the top problems that all ecommerce merchants will face are excessive Chargebacks. With security and fraud lurking in every corner, customers are often reluctant to use their credit cards for online purchases.
Shipping of products is another issue, where heavy, large, and perishable goods are often a pain and very expensive. In the ecommerce world, changes happens every single day, and technology has help level the industry with traditional retailers.
For example, the online shopping cart softwares has been improved for a smoother, quicker, and more customer-friendly experience. Live customer support chat has increased the level of support the customers need.
Social media is an excellent platform for free or low cost promotions to increase product awareness.
Threats — A business must take note of the broad industry shifts that can affect their business and company growth. Legal and regulatory changes for instance, may force all ecommerce businesses to collect sales tax.
New laws from card associations may also be a problem, especially for the higher risked industries. Competition from ecommerce giants like eBay and Amazon often undercut smaller merchants on price. Lower barriers for entry into ecommerce is also a threat, allowing almost anyone to sell via social media without the need of a website or a company.E-Shopping SWOT Analysis.
Strengths. A company’s ability to compete in its chosen industry highlights the level of success that it can achieve. Ocado is a clear example of how an organisation can create its own niche by specialising in a fraction of the actual industry therefore working against the usual business model of supermarkets.
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A CASE STUDY ANALYSIS OF E-COMMERCE STRATEGIES FOR RETAIL BUSINESSES Dr. James E. LaBarre Department of Management Information Systems [email protected] “Online Shopping System” application will be developed for human being to achieve maximum efficiency in shopping online and to reduce the time taken to purchase items.
It is designed for people to shop online rather than searching for things by visiting the shop.