Maria Baranova, Author at MASTER Global Retail Trends and News Fri, 26 Feb 2021 08:38:43 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://strategymaster.org/wp-content/uploads/2021/01/fav-150x150.png Maria Baranova, Author at MASTER 32 32 How SWOT Technique Helps to Analyze Retail Business Processes https://strategymaster.org/how-swot-technique-helps-to-analyze-retail-business-processes/ Tue, 12 Jan 2021 06:16:41 +0000 https://strategymaster.org/?p=30 SWOT is analysis of business by four criteria:

  • S-Strengths,
  • W-Weaknesses,
  • O-Opportunities,
  • T-Threats.

The SWOT technique helps to analyze retail business processes too. Strengths and weaknesses are the criteria for the internal environment of the object under study. These criteria can be changed. Opportunities and threats are criteria of the external environment. These criteria can not be controlled. Let’s take a closer look at each criterion.

Strengths are the subject properties that provide a competitive advantages. This criterion is unique sales proposition.

Anything that holds back profits and business growth inside business processes go in Weaknesses.

Research the trends, study experiences of competitors, look at other areas of business, do brainstorm, generate ideas for collect Opportunities. Opportunities is outside properties that could exploit to profit growth.

Company Threats are negative factors that can weaken the competitiveness of the business in the market.

SWOT analysis has the following advantages: versatility, flexibility, scalability, availability. However this analysis does not reflect dependencies and dynamics and is too generalization.

SWOT analysis is usually a preliminary stage in the formation of a business strategy. It aims at realizing the ability to resist threats using the internal forces of the company and unrealized potential. The result is usually tabulated.

]]> Trends of Global E-commerce Market https://strategymaster.org/trends-of-global-e-commerce-market/ Tue, 12 Jan 2021 06:13:37 +0000 https://strategymaster.org/?p=26 The global e-commerce market had sales reaching 14% of the total share of global retail sales by the end of 20191. In October 2020, total EU retail sales increased by 1.5 % compared with September 20202. In this time, e-commerce sales were up 55-76% in summer 2020 compared with same period of 20193.

Below we described worldwide trends in field of retail e-commerce:

  • On-site personalization is used to create individualized experiences;
  • Big data plays a big part in creating personalized experiences;
  • Chatbots improve the shopping experience;
  • Mobile shopping is important;
  • More ways to pay must be submitted;
  • Headless and API-driven e-commerce allow continued innovation;
  • Customers respond to video;
  • Subscriptions keep customers coming back;
  • Sustainability is becoming more important;
  • Businesses should optimize digital strategy for conversation.

1Statista

2EUROSTAT

3digitalcommerce360.com

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