The Yankee Group's recently published Report, "The Seven Key Factors for Success in Online Retailing," identifies the essential elements of an effective business plan for achieving results selling online.
"The Yankee Group believes that firms that fail to execute effectively on all seven of these key factors for success will face difficult times in 2001, and many will not be in business at this time next year," said Paul Ritter, director of Online Retail Strategies at the Yankee Group.
The seven key factors for success include:
1. Selling goods at sufficient gross margins to sustain a profitable business model
2. Offering online consumers a convincing and compelling value proposition
3. Ensuring customer acquisition costs are in line with average sales amounts
4. Providing customers with a user-friendly Web experience that engages visitors
5. Achieving significant visitor traffic while simultaneously managing high conversion rates
6. Managing cost-effective and efficient product fulfillment
7. Providing impeccable customer support through multiple touch points
The recently completed research Report examines the causes underlying the failures of several online retailers. It also presents a listing of more than 10 firms that face difficult times ahead unless they make swift changes to their online business models that are more in keeping with the seven factors for success.
For more information at http://www.yankeegroup.com