E-Commerce (INF6003) Coursework Assignment
As a highly successful luxury department store, Victoria currently retail through a single exclusive store in Piccadilly. Recently these revenue streams have been badly affected by the terrorist attacks of September the 11th; as a result this report has been commissioned by the Managing Director, Tom Brown, to investigate e-commerce as an opportunity to pursue future growth A commitment to exploring new business opportunities is laid out in our company Vision and Mission statements.
Victoria's e-commerce strategy has three business objectives:
Generate New Revenue
Focus on the UK market
It is believed that these objectives can be achieved without cannibalising Victoria's existing revenue stream.
Competitors: All major competitors are currently searching for successful expansion strategies; although all have a web presence, few are currently fully engaged in e-commerce activities. Of those engaged in e-commerce none offer a complete range of products.
Market research: Indications from analysts suggest that the online market is the future for retail.
We believe the online market for luxury goods will mirror the offline market. The market can be categorised into 'luxury goods' and luxury gifts'. The complementary characteristics and customer bases of these markets is particularly attractive.
Offering: It is proposed that Victoria should launch an e-commerce operation with an online product selection that competes in both market. Initially a limited range of leading products will be offered online, which can be expanded in the future.
Victoria will use the online offering to capitalise on, and enhance, our reputation for providing an excellent service to our customers. This will be achieved by developing new online services that offer tangible business benefit, as well as mirroring established in-store services online.
Central to the e-commerce operation will the maintenance of a seamless, high quality brand image across all channels...