Answer To: Assessment 3 Detail For this assignment students will perform a critical analysis of selected...
Tanmoy answered on Mar 16 2022
ATTRIBUTES THAT MAKE THE ECOMMERCE COMPANIES SUCCESFUL GLOBALLY
Table of Contents
Part A Literature Review 3
Evaluation Matrix of Global Ecommerce companies 4
Part B Evaluation 8
Appendix 11
Appendix 1 11
Scoring Matrix of Global Ecommerce Companies 11
Appendix 2 11
Scoring Matrix of Top 10 Ecommerce Australian Companies 11
References 13
Part A Literature Review
The ecommerce industry growth globally was valued at $13 trillion as of 2021. Further, it is expected to grow to $55.6 billion by 2027. The CAGR growth due to this increase would be around 27.4%. ecommerce industry refers to the transaction of goods and services which are done electronically via internet. Further, there are numerous ecommerce platforms in the world which sells its products and services online and supports the customers by home delivery of the products. Further, these companies have unique payment methods for purchase of the goods. There basic business models used by the ecommerce platforms are the B2B, B2C and C2C. Further, these ecommerce companies provide various benefits to the retailers in the form of global reach, higher profits, low transaction costs and increase in the brands of the company. There are various types of goods which are delivered to the customers through these ecommerce platforms such as books, health, beauty products, groceries, apparel, electronics and home décor products (Imarc, 2022). There are different attributes which help an ecommerce company to succeed in the future. The first is web design which gives the users and experienced and also helps to improve the productivity. A high-quality experience to the users through images and graphics can help to attract the users (Zhang, 2011). The information technology is not easy to use then it’s of no use. Similarly, ecommerce is a part of IT and must be created in such a manner such that it is easy to use (Davis, 1986). The service quality of an ecommerce company can be measured on how efficiently the information is provided to the internal, external and third parties. This creates trust among the customers and they are able to share the personal information and establishes customer loyalty (Chiu et al., 2009). It is due to insecurity and disrespect with respect to the privacy the consumers do not trusts the ecommerce sites (Smith, R., and Shao J., 2007). Using the e-payment options benefits the payee, payers, banks, the ecommerce sites by in various ways. It helps to make the transaction easier, fast, time and cost savings and increases the trust between the consumers and the ecommerce companies (Qatawneh, Aldhmour & Alfugara, 2015). Finally, it’s the social media presence of the ecommerce site which helps to share the updated information, provide high-quality experiences and various perspectives to the customers (Weinberg, 2009). It was in the year 2020, the demand of online purchase and ecommerce companies which have increased due to the covid19 global pandemic situation. The US ecommerce depicts are sales of 16.1% and amounting to $1.06 trillion as on 2022. Further, the ecommerce sales by product category were highest for computer and electronic products. It was a mammoth $96.03 billion sales in terms of computer and electronics products in US as on 2021. Over the past two year, it was the electronics, home furniture and construction materials which saw nearly double sales and was at 201.4% in the year 2019 (Goldberg, 2022). It will be apparel sector which is considered as the fastest growing class yet the demand for entertainment will still persist in the years to come. In the entertainment segment it will be the books, music and online videos along with computer and electronic products still continue to grow. Further, the ecommerce sales are expected to cross $6 trillion in US by 2024 (Phaneuf, 2022).
Evaluation Matrix of Global Ecommerce companies
Companies
Website Design
Ease to use
Information quality
Trust worthiness
Security
Payment options
Social network presence
eBay
Meagre website designing
Simple to handle
Qualitative information
trustworthy
Is unsecured and allows spams
Debit and credit card and COD
Twitter, Instagram, Tumblr
Flipkart
As if the online store is real
User friendly
High quality information and updated
Provides delivery of goods within 2 days
Secured in terms of transaction
COD, e-gift cards, credit and debit cards
Twitter, Facebook, Pinterest, YouTube, LinkedIn
Alibaba
Customized website
Safe and easy to use
Quality information
High reputable and trusted
Two-way authentication for security
Applepay, Western Union Transfer, PayPal and credit card and Boleto
Tencent and WeChat
Snapdeal
Good graphics used
Services with vernacular languages
Highly trustworthy
Authentic products
Secures personal information and data
Debit and credit cards, e-gift card and COD
Facebook, Google AdSense and blogging
Target
Prudent website design
Users able to access website easily
Highly purposeful information
Customer rating is 3.62 of 5 on trustworthiness
Protects against cyber hacking
PayPal and debit cards
Facebook, Instagram and Twitter.
ASOS
Great design of the site
Easy to use
High quality information available
Reliable company
Hitech software used to secure the site
Provision to pay later, PayPal and debit/ credit card options
Facebook, Twitter and other social media...