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Have you ever wondered how many companies there actually are in the ecommerce world? Where is the competition in the economy? As you can see from the infographic below, there's not much left since the giant companies either acquire the smaller ones, or they go out of business.
There are usually thousands of websites offering the same or similar services to each other. This is especially true of the travel niche, for example, with Expedia. So what do these companies do differently than others and why can nobody realistically challenge their market dominance?
Big ecommerce companies don't only focus on the high-quality product but also on the buying experience for the consumer. The buying experience includes everything from packaging, marketing, the presentation on the online store, to the post-purchase follow up.
Companies such as Expedia go the extra mile just to be sure their consumers get the right product and have a good experience with their websites. This travel giant, in particular, was also one of the first companies to adopt Bitcoin payments, allowing travelers to book trips in any way conceivable.
The Brand's Backstory
Everyone loves a good story and this applies to the brand stories too. Customers want to know who they're buying from. They enjoy when they know how the company started and its business values and goals. This strategy gets the customers at a personal level instead of pushing the product on them.
On the Go and Social
In addition to online shopping at desktop and laptop computers, people have taken it out of the house and on their mobile phones. If we continue using Expedia as an example, they combine the social and mobile aspect of booking trips, hotels and car rentals on its online apps.
The combination of all three factors can make any company powerful. When a company covers all its bases, it makes it hard for someone to enter the game.