eCommerce retailers have one big advantage over brick and mortar merchants: data. When customers come to your online store, you can measure virtually every aspect of their interactions with you. But this won’t count for much if you don’t have a system that will make sense of the data.
The most successful home-based business is the one you start because you’re passionate about the work, and you want to become an independent entrepreneur. When you love what you do, you’re involved in the process at every step and work hard to ensure the venture will succeed.
Generally speaking, the competitive landscape analysis is a business analysis method, which will identify direct or indirect competitors to help comprehend the mission, core values, vision, strengths, niche market, and weaknesses. Depending on the current business’s volatile nature, where companies will represent competition to others, this analysis will help in establishing that new mindset to facilitate creating strategic competitiveness.
Shopping online has become one of the most popular pass times of today. People would rather sit on their couch and order stuff online than go into a shopping mall. E-commerce businesses have boomed, and they make up 14% of all retail sales worldwide. E-commerce sales reached $4 trillion in 2020, and the number is predicted to grow in the coming years. An online or e-commerce store has the potential to grow and make profits.
The past year was one of the most challenging and tumultuous periods we got to experience. The COVID-19 pandemic changed multiple aspects of our life, including the way we do business. Consumer behavior changed; businesses were forced to go through unplanned transformations such as remote working, unplanned furloughs, and layoffs, or worse, company closures.