SWOT analysis
Strengths
The babywear online shop business is really easy to start up because it is easy for owners to manage and control the business. In addition, this business needs low costs. There is less water, electricity and renting fees. As a result, low costs means that our shop has a minimal risk for investor.
The babywear online shop business will also have a clear and oriented target market. We reject single selling purpose which is to just sell clothes and choose multi-purposes. Our business purposes are selling clothes, shoes, hats, toys and gifts for different ages and gender children. These selling purposes will spread our market. Furthermore, we stock a variety of products which have different style, designed and functions catering to the needs of customers. We also try our best to improve our product which the customers will desire. As a result, we gain more customers.
Our shop has good brand structure. We collect amount of highly rich and recognized brands. We think that we can prove many better famous brand products than other competitors. We think that these good brands will help us appeal to more customers. On the other hand, good brand names mean that they have good brand reputation and good quality. Therefore, customers will receive a better product when they buy on our babywear online shop.
The important thing for our shop is a clear business plan. We are not as the same as other online shops which keep the same business plan in different period. On the contrast, we always immediately change business plan according to actual market demand in different period. We focus on new, fashion and popular products in the contemporary time.
The detail information of products will be given on the online shop. From the information, the customer can know the price, colour, size. In addition, we give some information about teaching the customer how to clean and preserve these products. Both of them detail information offer much convenience and good service for customers.
Weaknesses
Although our shop has strengths, we also have weaknesses. This is because; online shopping is different to physical shopping. Customers realise the product by seeing the pictures, the customers cannot try on the products by themselves and cannot touch the actual quality. As a result, it contributes to the customers being worried. They will not buy them. To deal with this problem, we make a detail chart which includes the materials of all of products to help customer choosing.
In addition, comparing with another physical shop, we have no obvious price advantage. Sometimes physical shops give more discount and lower price than online shop. As a result, customers prefer to choose to go physical shops instead of our online shop for lower price. To overcome this issue, we will keep investigating the physical shopping market and pay attention to any change of price. Finally, make a new price decisions.
The business needs to face delivery issues, customers who have long distance need pay high shipping fees, and shipping time is long. Therefore, it is a reason that contributes to losing customers. However, we can avoid this result according to reducing or cancelling shipping fess when customers buy more than 50 dollars’ worth of goods.
Opportunities
For external environment, with the development of economic in the global world, it brings some opportunities for online shop. It is easy for owners to expand market and there is definitely an increase in customers. This is because, online shop have no region restriction. Foreign customers can also buy these products if they desire.
There is less babywear business in the online. That is to say, we have minimal competition. It is easy for us to collect the customer’s base. We also graph this opportunity to create ourselves brand. It is helpful to win over more customers.
Threats
Some threat factors are not avoided. Our baby online shop is built up on website. It is opened for everyone. Some stealing opportunities will be created for other competitive online shops. It will influence on our business. To solve this issue, updating information and productions in time is most important that will reduce the copy opportunities. On the other hand, we can ask for the legislation for protection.
In some period, some products will face backlog problem because incorrect marketing plan or incorrect sales method. This problem will lead to economic loss and capital turnover difficult. To overcome this problem, we will make advertising in different ways to increase sales promotion. For example, we reducing or giving a reasonable price. In addition, we will make a strict order sheet and make a analytical inventory table to avoid much stock.
Vicious competition for the same product is another reason causing loss. This is because, our competitors want to capture the market. They get customer through price means. As a result, the same product will engage in price war and lead to loss. To deal with this issue, we give some benefit for customers to stabilize the fixed customers. For example, we send them gift in their birthday. On the other hand, we can make contract to other company to decline pressure.
The babywear online shop business is really easy to start up because it is easy for owners to manage and control the business. In addition, this business needs low costs. There is less water, electricity and renting fees. As a result, low costs means that our shop has a minimal risk for investor.
The babywear online shop business will also have a clear and oriented target market. We reject single selling purpose which is to just sell clothes and choose multi-purposes. Our business purposes are selling clothes, shoes, hats, toys and gifts for different ages and gender children. These selling purposes will spread our market. Furthermore, we stock a variety of products which have different style, designed and functions catering to the needs of customers. We also try our best to improve our product which the customers will desire. As a result, we gain more customers.
Our shop has good brand structure. We collect amount of highly rich and recognized brands. We think that we can prove many better famous brand products than other competitors. We think that these good brands will help us appeal to more customers. On the other hand, good brand names mean that they have good brand reputation and good quality. Therefore, customers will receive a better product when they buy on our babywear online shop.
The important thing for our shop is a clear business plan. We are not as the same as other online shops which keep the same business plan in different period. On the contrast, we always immediately change business plan according to actual market demand in different period. We focus on new, fashion and popular products in the contemporary time.
The detail information of products will be given on the online shop. From the information, the customer can know the price, colour, size. In addition, we give some information about teaching the customer how to clean and preserve these products. Both of them detail information offer much convenience and good service for customers.
Weaknesses
Although our shop has strengths, we also have weaknesses. This is because; online shopping is different to physical shopping. Customers realise the product by seeing the pictures, the customers cannot try on the products by themselves and cannot touch the actual quality. As a result, it contributes to the customers being worried. They will not buy them. To deal with this problem, we make a detail chart which includes the materials of all of products to help customer choosing.
In addition, comparing with another physical shop, we have no obvious price advantage. Sometimes physical shops give more discount and lower price than online shop. As a result, customers prefer to choose to go physical shops instead of our online shop for lower price. To overcome this issue, we will keep investigating the physical shopping market and pay attention to any change of price. Finally, make a new price decisions.
The business needs to face delivery issues, customers who have long distance need pay high shipping fees, and shipping time is long. Therefore, it is a reason that contributes to losing customers. However, we can avoid this result according to reducing or cancelling shipping fess when customers buy more than 50 dollars’ worth of goods.
Opportunities
For external environment, with the development of economic in the global world, it brings some opportunities for online shop. It is easy for owners to expand market and there is definitely an increase in customers. This is because, online shop have no region restriction. Foreign customers can also buy these products if they desire.
There is less babywear business in the online. That is to say, we have minimal competition. It is easy for us to collect the customer’s base. We also graph this opportunity to create ourselves brand. It is helpful to win over more customers.
Threats
Some threat factors are not avoided. Our baby online shop is built up on website. It is opened for everyone. Some stealing opportunities will be created for other competitive online shops. It will influence on our business. To solve this issue, updating information and productions in time is most important that will reduce the copy opportunities. On the other hand, we can ask for the legislation for protection.
In some period, some products will face backlog problem because incorrect marketing plan or incorrect sales method. This problem will lead to economic loss and capital turnover difficult. To overcome this problem, we will make advertising in different ways to increase sales promotion. For example, we reducing or giving a reasonable price. In addition, we will make a strict order sheet and make a analytical inventory table to avoid much stock.
Vicious competition for the same product is another reason causing loss. This is because, our competitors want to capture the market. They get customer through price means. As a result, the same product will engage in price war and lead to loss. To deal with this issue, we give some benefit for customers to stabilize the fixed customers. For example, we send them gift in their birthday. On the other hand, we can make contract to other company to decline pressure.