Internal competition — There are 700 eCommerce sites and around 8,000 e-commerce pages on Facebook. Yet it only contributes to 0.7% of countries total retail market share.
External competition — Bangladesh has an expect $1.6 Billion retail market. Customer needs are being fulfilled by other channels. (trust, quality and instant gratification)
There are two possibilities either we enter this red ocean, offer discounts & bleed money or we create a blue ocean where we provide convenience and build trust that of a small Mom & Pop store.
Key parameters were identified, when compared gave a clear product positioning.
To solidify product positioning, product principles were identified. These serve as guidelines which would help us build features that resonate with our customers deep desires.
Reliability — Reliability comes from hand holding. Building features and services that mimics human assistant, provides adequate actionable information, that leads to consistent predictable outcomes.
Transparency — Ease of ability to access accurate data of an individual SKU, reviews, order and transaction within the system.
Personalized — Ability to alter product experience, offering based on historic data and current context.
New Retail — A set of feature would aid in better discoverability of products within retail stores.
Digital Wellness — A customer should be able to track his shopping behavior help them improve their shopping habits, save money and recommend better cost effective products.
Community — Provide opportunity of consumers to communicate within controlled communities. This would help our customers solve problems, review, recommend and raise awareness of the platform.
Hook — These are opportunities provided by platform to the user to up sell, resell or invest (data, preferences, shopping lists, spend analysis, cashback) in the platform that compels user to return.
Source link https://uxdesign.cc/shwapno-2-o-69938c486fe2?source=rss—-138adf9c44c—4