Hewa Chains
Hewa chains are a start-up business that bases its operations in e-commerce. It enters the service industry to fill the gaps left by big names like Amazon, Alibaba, and other more industry companies. The company’s main focus is to connect consumers and suppliers to facilitate trade. Its operations are majorly online through website, application, and general network coverage. E-commerce business is a broad business scope service to connect business to business, business to customer, mobile commerce, Facebook commerce, customer to business, and many other online avenues that support the trade (Bakos, 2001). All this avenue is meant to facilitate business for everyone who intends to purchase and transact online. This type of business provides flexibility in buying and selling since the two parties will be at their comfort as they transact business. The consumer saves time and hustle to go to the store to purchase.
This business provides brought convenience and efficiency in the market that is easy to navigate. Many time shoppers will always use their mobile phones to make orders that have been made easier through created mobile apps that would lead the customers to the intended products. It also has a fast loading time. Since the business nature is to connect producers and consumers, the product will be delivered immediately after the order is processed. All the policies, terms, and conditions are vividly displayed on the platform; hence, everyone would understand all they are getting into. It also helps promotes related products and has seamless checkout expressions. There is also an accurate product description since the customer can only rely on the description since they can physically touch and see the product. People can also do business without limitation of distance. E-commerce business is expected to hit US$ 200 billion by 2026, globally. The business operates on the scope of receiving orders, processing the orders, and then working on the shipment.
This market’s fundamental role is to facilitate demand and supply by making the information flow smoothly between buyers and sellers. This kind of market allows consumers to find information about prices and products very easily and promptly. A product is only a click away. Retailers on the internet are also able to view and compare prices. That would enable the retailers to identify other internet retailers’ price strategy, making the market more transparent. Spatial and search costs are reduced by the internet in that the retailers can reach the consumers and the vice vasa without traveling to their destinations (Weber et al., 2009). This would mean that in the comfort of their homes, the customers can access the products even in other counties. In e-commerce, competition is just at a fingertip since all the information about the products and the related once are just displayed on the screen. Therefore clients will always compare notes on the prices.
As I mentioned earlier, the e-commerce business is transacted online with the transaction’s main purpose. Some people will always create an e-commerce website and pay people to buy through it. Just a single purchase will content others. To say that he/she is in business, the customer who purchased for the first time should find a reason to return. That has been the main challenge in this industry (Bondarenko et al., 2018). Customer sustainability has been a challenge to e-commerce businesses. There is still a gap in eCommerce markets. Various organic producers, electronics, and other finished products cannot get better and completive prices because they do not have the planforms to potential consumers. This is the gap that Hewa Chains would like to fill.
The creation of an e-commerce platform is relatively expensive, but when it commerce to charges on consumers, it becomes relatively cheaper. That is because there is a bottle-neck completion; hence it better to charge a smaller percentage of the product value since it is a long-term strategy (Burt & Sparks, 2003).The demand for an e-commerce platform is today a basic need for every retailer and producer. It does not limit them to their geographical but expands its markets to the furthest horizons. This makes the business viable and alive to the technological society.
The industry’s future is bright, with an estimation of global sales to hit $ 4.9 trillion by 2021. It is anticipated that the business growth rate will go up to 265% from $ 1.3 trillion in 2014. That has given Hewa Chain hope for the future since there is a steady upward trend with no decline signal. Therefore, to capitalize on such a trend, physical stores must embrace the online sale structure to remain afloat. Social shopping has also been on the rise, where people are buying from their social media platforms. For instance, Instagram, twitter, printers, and youtube are platforms where people socialize and go further to do transactions. Hewa Chains has aligned itself in a better position to fit in this future-oriented industry. This has been done through fact-finding about the industry, service, and return on investment. All that remains is a steady growth to a global standard.
References
Bakos, Y. (2001). The emerging landscape for retail e-commerce. Journal of economic perspectives, 15(1), 69-80.
Bondarenko, T. G., Soltakhanov, A. U., Chibisova, E. I., & Chibisov, O. V. (2018). Online payments market from the global and Russian viewpoint: the main problems and perspectives of e-commerce. In SGEM International Multidisciplinary Scientific Conference on Social sciences and Arts (см. в книгах) (Vol. 5, No. 1.1, pp. 531-538). Общество с ограниченной ответственностью СТЕФ92 Технолоджи.
Burt, S., & Sparks, L. (2003). E-commerce and the retail process: a review. Journal of Retailing and Consumer Services, 10(5), 275-286.
Weber, C. L., Hendrickson, C. T., Matthews, H. S., Nagengast, A., Nealer, R., & Jaramillo, P. (2009, May). Life cycle comparison of traditional retail and e-commerce logistics for electronic products: A case study of buy. com. In 2009 IEEE International Symposium on Sustainable Systems and Technology (pp. 1-6). IEEE.