ETHICALLY SOURCED
PRODUCTS
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SLEPT
social
legal
economical
political
technological
E-ENVIRONMENT ANALYSIS
Social trends dictate work patterns and attitudes, consumer tastes and preferences, and the particular type of demand for a product or service as an e-commerce business (Sammut-Bonnici et al., 2015).
Higher consumerism in developing markets increases the competitive advantage and intensive strategies for growth to further expand its online global operations (Panmore, 2019).
Value proposition proposes the reasons why customers’ go online. The COVID-19 pandemic is an example of a reason consumers could shift their purchasing through online methods, as shopping can be delivered to customers without them needing to physically go to the supermarkets.
Social
Social media has influenced consumers to purchase online. There are a magnitude of barriers from consumers that make up the e-environment and its impact on eCommerce businesses such as Cost of access and security measures
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Legal
Different countries uphold laws which e-commerce businesses need to be aware of to adapt into, which include things like age restrictions, data protection, what content is allowed to be promoted
For example, new laws has created the EU GDPR (General Data Protection Regulations) to protect consumer data
Overall, different countries observe different levels of labour and sustainability laws making operating internationally, difficult for e-commerce businesses, who may have to spend more to cover operational costs
Economical
By selling online, our consumer base is not limited by location. Furthermore, this reduces marketing and searching costs as consumers are on a single platform, who can view and buy without having to travel anywhere.
Globalisation can protect a company from fluctuations in regional markets, but not from a global recession (Hossain, 2011).
Contrastingly, the recent COVID pandemic has researchers analysing that its impact on the e-commerce industry and concludes that the flexibility and convenience of the services enabled for more online sales in comparison to retail
Globally, this enables expansion and a chance to increase market share and brand presence.
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Political
E-commerce businesses are encouraged to upload a privacy policy document which presents all details about which of the customer’s information will be shared and which will not be.
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The UK imports approximately £10 billion worth of clothes and shoes from Europe. Therefore, if the country’s existing trade relations with the EU disappear, the fashion industry may have to pay £1 billion more in each year, potentially causing a price hike for many clothing items (Tobin, 2019).
Privacy concerns is an on-going issue which threatens customers who share their information when conducting things like online purchasing
The evolution of the internet has made it convenient for many consumers to obtain items within a short amount of time (Sunitha et al., 2014). Moreover, consumers are able to compare prices through different websites to make an informed purchase
Social media is a large component of maintaining relevant and popular, but also important to possibly attract a new audience (Kapoor, 2018). Different platforms also aid in keeping up with consumer changing habits to perhaps alter products and therefore, appeal to the wider consumer base.