An analysis of the nature, current situation, and the driving forces of innovation within the online retail industry in the year 2023.
An analysis of the nature, current situation, and the driving forces of innovation within the online retail industry in the year 2023.
Key considerations in any online business include:
Inventory and warehouse management (depending on scale)
Customer service
Online marketing(including content and product marketing)
Order fulfillment
Systems administration and integration
Analytics (it is important to learn from data and use it to continually improve)
Actually selling things online
How to write the overview on the industry in the year 2023- this is supposed to be for 500 words
analysis of the nature, situation and the innovation drivers of the relevant industry in 2023.
If your company is Netflix:
Wrong:
Do PESTLE on Netflix in the UAE/ Do PESTLE analysis on Netflix across the while world
Do not do the PESTLE/SWOT on OcadaRight : discuss the online retail aspect of your industry GLOBALLY
Do PESTLE on the video streaming industry globally if your company is Netflix
DO PESTLE/SWOT on food retail industry if your company is ocado
For the year 2023
You can carry out a PESTLE analysis , since this discusses issues that are outside of your company, and that is the industry
This is a general PESTLE analysis of your industry GLOBALLY Since your company is a multinational company, it is operating globally
Political ( all global political issues that can affect your industrys online retail activities )
What are some examples of political issues you can discuss ?
ANY global political issue that affects the industrys online retail activities of your company should be discussed
Brexit, covid related political issues, any global political issue that may affect your company
US- Chinese competition
Global trade agreements/restrictions
United nations ? you can discuss UN political decisions
Economic all global economic issues that are affecting your industrys online retail activities should be discussed
Exchange rates between any two countries as ecommerce takes place
Economic growth or decline ( even if they relate to covid )
Globalization
Inflation
Interest rates
Cost of living
Labour costs Consumer spending /disposable income
How do these affect the industrys online retail activities??
Social (all global social issues that can affect your industry, anything to do with how people behave )
Lifestyle- for example there is more money spent in richer countries
Culture for example social media,
Expectations- for sustainability, climate change, workers rights
Work life balance
Consumer tastes
Buying habits-
Demographics
How do any of these issue affect your industrys online retail activities?
Technologies
What new technologies are affecting your industrys online retail activities?
What about the role of security, social media, IoT, machine learning, Bitcoin, artificial intelligence , automation, robotics how are these affecting your
Chatbots on ecommerce sites?industry
Legal (anything to do with government rules and regulations that are affecting your industry, international laws are included , for example World Trade Organization even global issues )
Pls discuss all laws that can affect the online retial activities of your companys industry
this could be a law directly affecting ecommerce
this could be a lot the indirectly affects ecommerce
Brexit, labour laws, international laws on labour, trading laws, health and safety regulations
Protectionism this is where a country will have strict laws on importing so that it protects its local economy
Environmental ( all global environmental issues that can affect your industrys online retail activities, these environmental issues can be general affecting the entire planetor country specific but still affect your industry )
Emissions, sustainability, renewable energy, CSR, ethical sourcing, supply chain management
Perhaps you can include a swot analysis of your industry
A SWOT is
Strengths (current time )-discuss your industrys online retail activities strengths what is going well now ( if your industry is ecommerce, then globalization is a strength because you can ship any where, what new technologies are being used, for example for ecommerce, drone delivery )
Weaknesses (current time ) discuss what is going on poorly in the industrys online retail activities ( if your industry is producing high emissions then stronger laws on emissions are weakness )
For example, covid relates problems
Opportunities (for the future ) what new opportunities are facing your industry in the current time ( what new technologies or global trends like social media, or may be expansion and so on . )
What is a new and up and coming area in your industry
Threats (for the future ) what current and future threats are affecting your industrys online retail activities in the current time ( for example climate change, pandemic )
How to relate the PESTLE to the SWOT??
Way 1 of writing the 500 words
Political(83 words )
Borders are closed because of COVId 19, and this is affecting the supply chain management of the company . this is also a threat because this can affect production of the company (Threat-SWOT)
Economic (83 words )The US government has lowered interest rates, and this has allowed companies in the IT industry to be able to borrow more money to research and develop, this can push forwards the growth of the industry (strength - SWOT)
Consumers have less disposable income as a result of COVID 19 job cuts. This resulted in less sales in the IT industry (weakness - SWOT)
Social (83 words )Social media is growing in the current year and this has increased customer demand for IT based products, that they can use in order to connect with others. This has boosted sales in the IT industry, and this is projected to keep up in the future. (opportunity SWOT)
(opportunity )Technology (83 words ).(threat ) (only used 30 ?)
Try to put in some from porter
Way 2 of writing the ** words
Do Pestle first each of the pestle would be 50
Then do SWOT each of the swot would be 50
May be you can also add a analysis with porters 5 forces?
