How top leading eCommerce companies function?

ecommerce companies

In 2020, it is easy to build an eCommerce site but it is very difficult to sustain and build one on a global scale. And, let’s just take a moment to appreciate and understand how these brands impacted sales on a global scale.

Amazon:

Now, the reason for placing Amazon at the start of the list is the fact that it is one of the first eCommerce companies in the world.

Amazon started back in 1994 with the intention to sell books online. And, since then, it has skyrocketed to become one of the most valuable and top eCommerce companies in the world.

Why does Amazon as a brand matter?

As an eCommerce company, Amazon revolutionized and streamlined the process of shopping online across the world.

And consumers often mis-credit Amazon with it being an eCommerce seller but, it also acts as an aggregator for other sellers to compete in the eCommerce market. 

 Amazon currently caters in almost all the industries and streamlines the process of purchase to a point where the customer experience is comfortable on the utmost level.

How does Amazon do it?

Whilst building an eCommerce brand, product managers often consider the product quality to be the unique selling point. But, it usually is the consumer experience around the product that matters.

And Amazon operates to provide a better consumer/customer experience and centers their products around it.

To do it perfectly, Amazon uses a three-point focus strategy that revolves around:

    a. Market research

    b. Technology development

    c. Market Outreach

Read More: Flip a coin and How to know New Techniques

A quite simple example of above would be how Amazon analyzes their consumer’s behaviour and adapts to display products based on predictive consumer interest. 

Their predictive algorithm understands the products that you surf the most and would prefer to display the relevant products in the following manner:

    a. Similar products/Competitive products with better ratings/reviews.

    b. Collaborative products or accessories 

    c. Products of interest with tertiary use or customization.

Meaning, it was not just you who was recommended a Dell XPS whilst you were searching for a MacBook Pro. And, yes, it is quite common that you saw the accessories for your MacBook Pro that’s in the cart. 

Amazon implements this ideology around all their business operations. It starts with their consumer centric design and ends with their hyper-personalized consumer service solutions.

From displaying the predictive products of interest to allowing you to customize the payments, delivery date and gift options, Amazon does everything to build a better consumer experience.

BestBuy:

Whilst Amazon caters to provide a better consumer experience, BestBuy provides better competitive product pricing on consumer electronics. It is indirectly providing a better consumer experience. 

BestBuy is a multinational consumer electronics store. It originally started off as an audio speciality store in 1966 called Sound of Music. It operates across Canada, United States and Mexico.

Why does BestBuy as a brand matter?

BestBuy mostly focuses on selling consumer electronics and does it at a competitive pricing than their competitors. 

For instance, the MacBook Pro used to draft this content piece was purchased off BestBuy US for $1299/- and in terms of discount in the US region, it was $100/- less than its price. 

BestBuy caters to the consumers who are looking to purchase quality electronics according to their budget. 

How does BestBuy do it?

As the name suggests, BestBuy provides you with an insight on the best products that you can buy under a certain budget. Their intuitive UI/UX design prioritizes products that are on a discount and provide a good value for the price.

These products are handpicked by a team who update the list regularly. It is then followed by a single product that provides a discount of almost ⅓ of its selling price on sale for a day.

BestBuy implements their ideologies to create a consumer experience that focuses on providing the best of technology at a competitive price. They segment their audience into budget centric users and their create a consumer experience around it.

They segment their products based on their features, usability and the budget to best attract the target audience. This is one of the reasons why BestBuy competes among the top eCommerce companies in the world.

BangGood:

BangGood is a Chinese eCommerce company that works to provide the best of chinese product experience across the world. 

It is often credited for its robust compatibility with allowing users to import products from China at a competitive price.

On the eCommerce front, it deals with almost all the product industries available out there. But, it mainly focuses on Clothing, Electronics and Technology.

Why does BangGood as a brand matter?

BangGood as a brand stands in the list of top eCommerce companies in the world as:

    1.It caters to a global audience in quite literal sense.

    2.It’s UI/UX design provides a good consumer experience in every part of purchase.

Meaning, no matter where you are in the world, you could shop from BangGood and not worry about the payment and the shipping options. It almost works with major payment gateways and shipping centres out there on both micro and macro scale to operate across the world.

How does BangGood do it?

BangGood as a brand understands its target audience in a proper manner. Not everyone would be willing to import products from different countries on a regular scale and not every product needs to be imported. 

It segments its consumers into hobbyists and enthusiasts who would be willing to try products and test them before a generic consumer would want to. 

    It’s popular for importing unreleased Xiaomi products. And, it’s popular among hobbyists for allowing important electronics such as servo shields and development boards at an affordable price. 

BangGood gains traction by its extensive marketing methods. BangGood’s market research team works with content creators and hobbyists to create content experiences around their products. 

In Addition, BangGood’s extensive marketing campaigns that include flash sales and grab sales that sell certain products for as low as $1/- help them gain traction from around the globe.

Walmart:

Walmart started as an American multinational hypermarket chain and slowly drifted into the eCommerce business. 

On the eCommerce front, Walmart acts as an acquiring investor to the major eCommerce companies in the world. For instance, Flipkart, Sam’s Club and Jet are a few of Walmart’s subsidiaries 

Why does Walmart as a brand matter?

Two main features that allow Walmart to be a part of the list of  Top eCommerce companies in the world are:

    a. Product categories and availability

    b. Price

Walmart is known for its competitive pricing on almost all the products and its extensive product categories. If you are an immigrant or student living in the United States, you know how easy it is to find products from your homeland in Walmart at a competitive price.

How does Walmart do it?

Walmart manages their operations by understanding their target audience’s needs and it works with suppliers across the world to cater to the needs at a cooperative pricing. 

    The most important factor of how Walmart succeeds to market to a global audience is about how they market their products.

Walmart provides their audience an experience that focuses on shopping comfortably without worrying about the availability and price. It brings the market to the consumer rather than attracting the consumer to the market.

Walmart creates a hype around the products that the consumers would like to buy in bulk and provides it to them at a competitive price, indirectly swaying the consumers to buy in bulk without giving it a second thought.

Flipkart:

In the Indian market, FlipKart started off as an early-adapter in the eCommerce sector to primarily sell books. The idea was to develop an online platform to sell books across the country. But, with time, it developed into an eCommerce sub-industry market of its own where it catered a major sector of products from electronics to groceries.

Why does Flipkart as a brand matter?

The Indian eCommerce sector owes a huge chunk of respect to Flipkart. It was the first brand to introduce the mass consumer market eCommerce trend. It allowed the consumer to buy just as anything right from their living rooms.

Within less than a decade, Flipkart became not just one of the top eCommerce companies in India but, in the world. It gained traction from Walmart which later acquired it.

How does Flipkart do it?

Flipkart as a brand operates on a strategic 4 point design that revolve around:

    a. Business oriented Design:  

Their website is designed in a way where it displays the most important and most purchased product categories on the front and caters to the least ones on the end.

For example, Flipkart is known for its electronics and clothing products but, it also caters to help consumers in booking flights. But, since it is the least preferred operation, it’s strategically placed as the last option.

    b .Digital Consumerism:

Now, was  business oriented design everything that led to their website becoming a tier-1 brand pan India?

Well, not exactly. Their business oriented design was only possible thanks to their on point projections of the expectations of a digital consumer.

Flipkart understood that to gain consumers’ trust, they’d have to provide them with every possible detail of the product in the best way possible. It was to convince the customers about the quality of the product without even having for them to touch it.

And to top it up, they’d have to be flexible with the delivery options and payment options. They decided to keep the shipping costs as low as possible and introduced CoD in a practical manner pan India that allowed them to build a better trust relation among digital consumers. 

    c. Technology optimization:

To make sure that their customers and sellers can purchase

and sell products from anywhere across the country, they’d

have to be present on all the platforms available at a blazing

Speed.

To enhance the experience, FlipKart created an omnichannel experience where it works seamlessly across devices and provides the same experience of purchase on all the platforms.

    d. Creative marketing:

Flipkart’s creative marketing campaigns were what boosted its brand recall value and sales pan India. It understood the Indian consumers’ mindsets in the best way possible and introduced campaigns such as 

    The BigBillion Day where people could buy a lot of products at a steal deal. Sometimes the prices of the products were 10% of its original selling prices.

And, Flipkarts other campaigns such as a  TV campaign that featured a couple of kids portraying famous cinema characters speaking about their latest supercoin campaign attracted a lot of sales.

Another campaign by Flipkart featured a couple of kids portraying different profession based characters speaking empathising their colleagues and gifting them a product from Flipkart attracted a lot of sales and built the Flipkart’s emotional market value and helped it become one of the top eCommerce companies in the world. You can also know that about WooCommerce

How top leading eCommerce companies function?

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