E-commerce is an industry where buying and selling of product or service go online.
It has the same rules as offline world:
market, customers, products, advertising.
But due to great ability of tracking ecommerce is the best industry to work with.
E-Commerce Business Models
- B2C – Business to Consumer
- B2B – Business to Business
- C2C – Consumer to Consumer (eBay!)
- B2G – Business to Government
Product and proposition
√ what do you sell?
√ what problem or demand do you solve?
√ why should someone pay for it?
√ is your proposition unique on market?
√ how do your customers solve this problem now?
As already mentioned E-commerce is so successful due to its abilities to measure, analyze and predict customer’s behaviour.
You can see what people searched for over time on region:
You can see how customers change their behaviour.
COMPETITION & macroeconomic ANALYSIS
⊕ Find your competitors and dig as much info on them as you can.
Always track their activity, it’s simple on web.
⊕ Common rule – if you don’t see any competitors, 80% you need to dig deeper. 19.99% that there is no market or demand for your product and just 0.01% that you have found a great niche.
⊕ SWOT is a classic approch which works perfect in e-commerce as well
Research economic and political situation on your target markets is a must!