Settled online trading In the United States alone, revenue of $ 518 billion was generated last year. The growing number of online marketplaces such as Amazon and eBay will make up 40% of the global retail market in 2020. As the number of digital offers – not only marketplaces, but also online shops and corporate websites – is increasing for consumers, this is the greatest challenge because every online platform is different from others.
The central question of how this can be achieved: Where does differentiation play the greatest role?
A customer's ability to easily (and accurately) find a particular product or service with minimal obstacles helps make them feel satisfied and confident with their purchase decision. This ultimately becomes the distinguishing feature that distinguishes an online platform. It is about combining an outstanding product with an extraordinary experience. This is often done in the form of simple and searchable access to a variety of products and services. Sometimes it's about launching a brand that meets the needs or price of an individual consumer. In both cases, platforms can help customers avoid having to pull a product or service out of the market with multiple clicks, while providing a better way to compare apples to apples.
To be successful, a company should follow a consumer-first philosophy that influences its product idea and development process. Successful consumer-first development relies on a company's ability to deliver new features that customers actually respond to, rather than prioritizing the update that seems most profitable. The best way to inform both elements is to collect customer feedback regularly and learn from it. Sometimes this means making decisions for the benefit of consumers that are in the best interest of the company.