eCommerce business analysis and strategy

Ecommerce

E-Commerce or E-business can be simply defined as business-to-consumer and business-to-business commerce conducted by way of the Internet or other electronic networks (Merriam-Webster, N.d.). There are many differences between e-commerce and the traditional brick and motor stores that drove business completely before the advent of the digital sphere. One primary difference is that you are not able to see the product in person during the purchase. This may not be of critical importance if the purchaser already has knowledge of the product. For example, say that you have been drinking the same brand of coffee for ten years. You probably wouldn't have a preference to whether the coffee came from a brick and mortar store of an e-commerce site, so long as you had the coffee when you wanted to drink it. However, with items that you are not familiar with, such as new clothes, shopping online might be far more difficult.

Other differences are that with ecommerce you do not actually have to visit a store. You can generally shop anywhere that has an internet connection including most modern smartphones. However, at the same time, even though you can shop from virtually anywhere there is generally a wait time associated with e-commerce because you have to wait for the product to be shipped to you. This wait time closes the door for many impulse purchases as well as for purchases that are needed immediately. Yet, if you have enough time to wait for a product and you already know what you want, online shoppers can generally save a considerable amount of money by comparing prices and shopping online.

SWOT Analysis

Figure 1 - http://www.urbangardensolutions.ca/