e-commerce project: etsy
DESCRIPTION
e-SWOT and e-TOWS analysis of Etsy. Project for the course: "Digital Business Models and E-Commerce" Instructor: Graham Merriman Students: • Roshani Thomas • Eyba Orce • Lara Zaccaria • Sandeep Ravindran • Chen Xu UCD Michael Smurfit Graduate Business School, Dublin, IE.TRANSCRIPT
E - C O M M E RC E & D I G I TA L B U S I N E S S M O D E L S
7 T H N OV E M B E R , 2 0 1 4
Eiva Orce
14201122
Lara Zaccaria14200346
Chen Xu
12251219
Sandeep Ravindran14200640
RoshaniThomas
14204128
Table of Contents
Introduction & Overview
Value proposition
Website and mobile app performance
Social Presence - Pinterest, Facebook, Twitter
E-SWOT Analysis
E-TOWS Analysis
Recommendations
Sources
Introduction
ETSY
Founded in 2005
Community-based
marketplace
B2C/C2C
Over 40 million
members
Over 1 million online active
shops
Over 26 million items
listed
$1.35B in 2013 total
merchandise sales
Over 200 countries with
annual transactions
Social presence
2,375,278 followers
1,851,099 likes
480,965 followers
219,922 followers
853,497 followers
219,922 followers
Figures corresponding to November, 2014
Value proposition
C2C
StrongPresence
Sellers benefitsArtesanal Handcraft
Originality
International Designers
√ X
Website navigation*
Top 5 in organic search
Interaction with Social Media Storytelling
Secure payment
Store usability
On-page SEO
Website
For Buyers For Sellers
Mobile App
• Shop Activity Feed- track customer• Orders Management• Listings Manager• Conversations• Shop Statistics• Notifications
• User interface • Follow other members• Trending list
√ X
Interaction with website
Boards Organization
Quality of the pictures
Connection with sellers’ profiles
Responsiveness
Lack of keywords
√ X
Editorial plan
Interlink to website
Customer engagement
Comments can’t be posted on timeline
Hashtags
Milestones
√ X
Etsy Worlwide Etsy AU/NZ Etsy WeddingDiva
Etsy Theme Shop
1,851,918 likes 22,376 likes 21 ,068 likes 35,582 likes
1-2 posts a day 2 posts/week 2 posts/4 weeks 1 post / week
Differentiation - share your #etsyfind
Catered to Auz and NZ Crafts
Handmade wedding crafts and attire / wedding team page & sellers
Buy digitalconfectionary
High Interaction – 500 likes– 100 comments
Medium interaction - 30 likes 10 comments
Poor interaction Poor interaction – 60 likes , 12 comments
Link – Twitter,Pinterest, Blog
Link – twitter, pinterest, blog
Link – Website & blog Link website & Blog
Negative – Spam by sellers & Commentary by buyers/artists
Negatives – less interaction
Negatives – less interaction
Negative – less interaction
No contests/ games Pop up events No contests/ Games No contests/ games
Highlight – EtsyRoadtrip
Highlight – Etsy design awards
Highlight – One of a kind dress and Crafts
Highlight – themes, digital basket of goodies
Corporate and Multiple Twitter accounts
@Etsy@Etsystatus @EtsyCOUNTRY@EtsyHelp @EtsyWholesale
Etsy integration-Interlink with the website.
Factors affecting eCommerce:
Engagement- MEDIUM
Impact- HIGH
Responsiveness- LOW
Integrationwith twitter
Allowssellers toannouncenew items.
Powerfultool forbrand
awareness.
Retaincustomers.
Buildbusinessgrowth
Customerengagement
Increase of traffic-
drive sales.
E-SWOT Analysis
Strenghts Weaknesses
ThreatsOpportunities
E-SWOT Analysis
STRENGHTS
B- Corporation considering society and environment in addition to profit.
Leader for online handmade items.
Low service fees for sellers & Free for buyers.
Trustful online Payment - Paypal.
World-wide reach for consumers.
Efficient internal Search Engine.
Website gets user deeper into the site experience. User friendly- “Ask a question”-option included. Includes customer’s review on items. Easy checkout- one click.
Mobile App- offers analytics for optimization.
Engagement with use of multiple digital platforms-Multichannel retailing
Digital tutorials- a new concept for e-Commerce
• Delivery process- min 5-weekday processing time.
• Delivery cost of goods + tax
• Abuse of value “ handmade by you” products
• Trust over products- authenticity of handmade.
• Strong competitors of eCommerce handmade products.
E-SWOT Analysis
WEAKNESSESS
“Guarantee Tag” from Etsy
Improvements in the customer-seller gap
New niche target for luxury goods
Improvements in the connection between the website and Social Media
3D product experience
Round Robin system
Virtual try for certain products
Seller and Buyer Loyalty Program
E-SWOT Analysis
OPPORTUNITIES
Seller loyalty
Tax issues.
Website vulnerability.
Competition- Current and future.
Seller price fixing
E-SWOT Analysis
THREATS
T O W S A N A L Y S I S
E-TOWs Analysis
E-TOWs Analysis
S.O. Strategies
“Etsy Control” of pricing.
Request an Out-of-Stock option.
Suggestion of similar products.
Follow up feedback email.
Discounts with loyalty program.
“Guarantee Tag” from Etsy to avoid handmade label issue.
Improvements in the customer-seller gap.
Strategically placed warehouses.
Improvements in on-page SEO.
E-TOWs Analysis
W.O. Strategies
Low service cost + brand loyalty
= seller loyalty.
A good website coupled with Paypaldecreases the chance of threats.
Seller price fixing can be initiated.
E-TOWs Analysis
S.T Strategies
Decrease the overall delivery timelines.
Authentication of products.
Enhance responsiveness and engagement to lower the impact of competitors.
E-TOWs Analysis
W.T Strategies
Recommendations
Improve customer engagement on social platforms.
Signing in using social media on mobile app.
Creating warehouses in strategic locations.
Keep the important data above the fold, fix on page SEO.
Guarantee tag.
Sources
http://www.handmadeology.com/sell-on-etsy-mobile-etsy-app-for-sellers/https://blog.etsy.com/news/2013/new-delivery-process-for-digital-goods-on-etsy/http://socialmediastrategiessummit.com/blog/brand-need-multiple-twitter-handles/http://www.lumosforbusiness.com/EtsyBusinessModel.pdfhttps://ecommerce.shopify.com/grader?url=www.etsy.com
http://www.alexa.com/siteinfo/etsy.comhttp://likealyzer.com/etsyhttps://www.etsy.com/http://www.lumosforbusiness.com/blog/835http://www.huffingtonpost.com/shannon-whitehead/how-etsy-changed-the-rule_b_5708565.htmlhttp://www.slideshare.net/katymorgan89/etsy-business-case-presentationhttp://savvypanda.com/blog/intermediate-level/ecommerce-lessons-from-etsy.htmlhttp://www.slideshare.net/ChirapatVorratnchaiphan/etsy-presentation-11723448
http://platformed.info/uber-etsy-and-the-internet-of-everybody-a-visual-guide-to-networked-businesses/http://www.nytimes.com/2013/11/12/opinion/etsys-industrial-revolution.html?hp&rref=opinion%2Finternational&_r=1&http://itrevolution.com/building-resilient-user-experiences-with-mike-brittain-of-etsy/http://swot.advisorgate.com/swot-e/13792-swot-analysis-etsy.html
http://conversionxl.com/how-to-come-up-with-a-value-proposition-when-what-you-sell-isnt-unique/#.