Find a success story or a failure story of online businesses during covid-19. Explain their success/failure in terms of revenue models, web presence strategies, web marketing techniques, CRM, vendor...

1
Success Story of Woolworths
Contents
Introduction of company    3
General performance of company during COVID 19    3
Revenue models    4
Web presence strategies    4
Web marketing strategies    5
CRM    6
Vendor management    6
Logistics    7
Creating trust for online users    8
Conclusion    9
References    10
Introduction of company
Woolworths is one of the Australian companies which have chain of retail stores which includes supermarkets and grocery stores. It was founded in 1924 and if we look at its market share then it has biggest market share in the chain of supermarkets in Australia. The headquarters of Woolworths are situated in Bella Vista, New south Wales, Australia. It has its chain of stores located in approximately 1051 locations. This company has its specialization in the field of groceries and apart from groceries it also deals in various other products like DVD, Magazines, heath products, beauty products and various other items also. This company also has online store with the name of Woolworths online which provide both the services of ordering from home and collecting the products at the tore as well as home delivery ("About Us - Woolworths Group", 2022). The home delivery department of this company has gained more importance during the period of COVID 19 when everyone needs products at their home and there was even shortage of necessities in the country. Woolworth’s performance during COVID period was remarkable and the company has grown since then and is performing very well in all the areas of its business.
General performance of company during COVID 19
The performance of Woolworths' online sales department is very satisfying during the difficult times of COVID, and the company provides products and services online and delivers the same products to customers by delivering them to their homes. So, we have greatly supported our customers when they had difficulty visiting the store and buying basic essentials. Increased demand for online delivery services led to higher first-quarter sales and very strong sales in the food industry. Various strategies were used by the company for achieving success in the online platform and satisfying its customers along with gaining apposition in the market that it became number one online seller of groceries in Australia. The strategies adopted by Woolworths included Web presence strategies, Web marketing strategies, CRM, Vendor management, Logistics, Creating trust for online users ("Woolworths launches 'Everyday Market' platform in wake of COVID-19 online shopping boom", 2022). All these strategies are discussed in this report.
Revenue models
The performance of the online selling division of Woolworths was quite satisfactory during the hard times of COVID and the company has helped the customers a lot by providing the products and services online and delivering the same products to the customers by sitting at their homes when it was difficult for them to visit stores and purchase the basic necessity products. Due to increasing demand o the online delivery services the sales of the company boosted in the first quarter and it earned very good revenue in the grocery industry. The revenue earned by the company during the first quarter was AU$16 billion which was highly unexpected and was 8% more than the previous figures ("Extended COVID-19 lockdowns saw Woolworths Q1 online sales jump", 2022). This was mainly because of the brand name and reputation that company already had in the market and in addition to that the quality of products and services provided by the company were also satisfactory. This led to a boost in the revenues of the company and making the decision of the adopting online platform as fruitful.
Web presence strategies
During COVID 19 it became important for Woolworths to improve its presence in the online market. By focusing on the strategies for web presence it becomes easy for the buyers to find the platform of Woolworths online for placing orders. By this the reputation of the brand id build in the market and the awareness is also created regarding the online platform which ultimately helps in increasing the products visibility to the users. The strategies which were used by Woolworths to increase its web presence are as under:
An email list was built: Woolworths created an email list of the users this is considered as one of the best way through which online presence can be build. By building an email list it became possible for the company to connect on a daily basis as well as monthly and weekly basis with the customers who are currently users as well as those who are potential customers.
Created value: while earning profits it is also important for a company to read the mind of the customers and create a value in its products and services so that the customers can get maximum satisfaction. The main area on which the customer has focused on was noticed by Woolworths during COVID 19 and services and products were provided accordingly which helped in increasing the customer base and sales.
Developed relationships: in order to grow the business online it...