E-Commerce Business SWOT

Pages: 4 (1467 words)  ·  Bibliography Sources: 4  ·  Level: College Senior  ·  Topic: Business

E-Commerce: Strategy and Considerations

A SWOT team analysis can be incredibly useful to help highlight the goals and motivations of a particular business. When it comes to the task of taking my small business online to develop an ecommerce site, the potential benefits are indeed staggering. However, the online marketplace is a formidable environment and it's still important to consider the obstacles present with the endeavor of going online.

Strengths:

The strengths of taking my small clothing boutique online are primarily in the fact that the boutique already has a strong following. The customers of the boutique are already fiercely loyal. An online site allows us to offer our already loyal base of customers a more convenient way to purchase goods. The boutique appeals strictly to a niche audience and a very specific type of customer. For example, the bulk of our items are vintage with unique pieces from the Victorian era and the neo-punk era as well. Opening ourselves up to an online base of potential customers means that we'll be more likely to encounter customers who are more firmly entrenched in our niche.

Weaknesses:

One of the primary weaknesses of this endeavor would revolve around the main fact that the online marketplace is already so crowded and so oversaturated. There are already twenty or so online boutiques which specialize in our exact niche and which would be our direct competitors. This presents a clear weakness of our business as it is, because we simply don't have the same level of manpower to appropriately compete with them, nor do we have the same amount of money to devote to marketing and advertising that would allow us to gain greater consumer attention. Another weakness that would be present in the task of going online is that we would have to adapt our branding: as it stands now our branding isn't strong enough to compete in such a formidable environment.

Obstacles:

One of the major obstacles of expanding to an online marketplace would revolve around the absolute necessity of expanding our product base. Right now, we would need to expand the sheer number of products that we offer so that we can lure customers over to our site. Another obstacle is that if we want to create and keep a customer base, we would need to figure out some sort of customer loyalty program. There would need to be a rewards program in place to ensure that customers felt as though they had a vested interest in being loyal to our online store.

Another means of keeping customers would be connected to the products that we would offer via our online store: we would need to sell the most hard-to-find, coolest and rarest products if we really wanted to aggressively expand our consumer base and compete with the bigger fish in the ecommerce sea.

Threats:

One of the major threats to our success would be the limited quantity of online goods in general. There is a finite amount of product that we can sell. Another threat to our success largely revolves around the fact that our early days online will be rather precarious and riddled with threats. So many of our competitors could easily "stomp us out" with their massive advertising and marketing budgets. Some of our online competitors have social media departments dedicated exclusively to promoting the brand forward. The early days of the company online, will need to be devoted solely to engaging the customers we already have and ensuring their interest.

2.

International Issues

It is true that as a result of the Internet, any online business is immediately international. Thus, when it comes to dealing with issues like trust, culture, language, government and infrastructure, one needs to have a precise plan in place to meet all these needs. Trust is something that can only be built with the consumer base over time: this is via establishing an online reputation of quality products and reliable shipping. Culture is less of an issue because the business deals with a genre of counter-culture: the people who would be attracted to this online store and the products sold there, are largely ones who gravitate towards things which are alternative to their own culture or to the normalized culture that they're used to. Language is an issue which will mostly be dealt with by having the text of the website translated into a range of… [END OF PREVIEW]

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Cite This SWOT:

APA Format

E-Commerce Business.  (2014, May 4).  Retrieved December 10, 2018, from https://www.essaytown.com/subjects/paper/e-commerce-business/3834485

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"E-Commerce Business."  4 May 2014.  Web.  10 December 2018. <https://www.essaytown.com/subjects/paper/e-commerce-business/3834485>.

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"E-Commerce Business."  Essaytown.com.  May 4, 2014.  Accessed December 10, 2018.
https://www.essaytown.com/subjects/paper/e-commerce-business/3834485.