Are you about writing an ecommerce business plan? If YES, here is a sample SWOT analysis for an ecommerce company to help you form a competitive strategy.
eCommerce Business Plan – Economic Analysis
Before venturing into the e-commerce industry, entrepreneurs have to be really sure it is what they desire to do, and then make a thorough research about the industry. If venturing into commercial sites, you can use Amazon’s Business model which operates as the online version of a retail operation or that of eBay and Alibaba whose business models are based on operating online marketplace.
This means that the latter partners. Rather than compete with a vast spectrum of merchants, wholesalers, and manufacturers. The demand for e-commerce goes hand in hand with technology.
As more devices are created, so are more people able to use the internet, either to use search sites, interact on social networks, or shop online However, people will only purchase more from this industry if the economy is healthy. Any entrepreneur going into this field will need to keep operating costs low as revenue for start-ups isn’t immediate.
A Sample eCommerce Business Plan SWOT Analysis
Starting an online store comes with some challenges, especially when it comes to managing the payment portal, shipping goods to various locations and ensuring that goods are sold cheaper than is obtainable in physical stores.
Shannon & Shavonne Inc. Online Store is launching an international e – commerce business which is why we decided to model successful brands. In doing that, we decided to conduct a thorough SWOT analysis and write an e-commerce marketing plan.
We were able to employ the services of Dr. Pablo Carson, an expert HR and Business Analyst with bias in the e – commerce industry (online retailing store) to help us conduct a thorough SWOT analysis and to help us create a business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Shannon & Shavonne Inc. Online Store;
- Strength:
No doubt the fact that we have a robust relationship with a wide range of manufacturers of various products will definitely count as a strength for us. We have a well-coordinated shipping system and our customer can be rest assured that they will have their goods delivered to them in record time. Other area of strength are; secured payment platforms, wide range of products and excellent customer service culture.
- Weakness:
A major weakness that may count against us is the fact that we are a new online retail store and we don’t have the financial capacity to compete with multi – billion dollars online stores like; Amazon and Alibaba.com. This is when it comes to wider reach and selling products at rock bottom prices.
- Opportunities:
The opportunities available to online retail stores are unlimited; as a matter of fact customers can make purchase from any part of the world. We will ensure that we position our warehouses in targeted countries so as to enable us cut cost of shipping and maximize the opportunity that are available to us.
- Threat:
Just like any other business, one of the major threats that we are likely going to face as an online retailing store is economic downturn. It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is unfavorable government policies.