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Related Experiment Videos

Getting real about virtual commerce.

P Evans, T S Wurster

    Harvard Business Review
    |February 8, 2000
    PubMed
    Summary
    This summary is machine-generated.

    The second generation of electronic commerce (e-commerce) demands strategy over experimentation. Competitive advantage in the new e-commerce landscape hinges on businesses getting closest to consumers through effective navigation.

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    Area of Science:

    • Business Strategy
    • Electronic Commerce
    • Digital Marketing

    Background:

    • The first generation of e-commerce was characterized by rapid expansion and experimentation, often favoring speed and early market entry over profitability.
    • Many early e-commerce companies, despite high valuations, struggled to achieve profitability, indicating a need for more sustainable business models.

    Purpose of the Study:

    • To analyze the strategic shifts required for businesses entering the second generation of e-commerce.
    • To identify the key players in the evolving e-commerce landscape and their strategic imperatives.
    • To define the critical role of navigation in achieving competitive advantage in the digital marketplace.

    Main Methods:

    • Conceptual analysis of e-commerce evolution from a landgrab phase to a strategic phase.

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  • Identification and categorization of key e-commerce players: branded-goods suppliers, physical retailers, electronic retailers, and pure navigators.
  • Framework development for analyzing competitive advantage based on three dimensions of navigation: Reach, Affiliation, and Richness.

    • Main Results:

    • The second generation of e-commerce will prioritize strategy, focusing on defending or capturing market territory rather than mere expansion.
    • Competitive advantage will be determined by a business's ability to connect with and assist consumers in navigating the digital space.
    • Different e-commerce players possess distinct advantages in the three dimensions of navigation: Reach, Affiliation, and Richness.

    Conclusions:

    • Success in the second generation of e-commerce requires a strategic focus on consumer proximity and navigation.
    • Understanding and leveraging the dimensions of Reach, Affiliation, and Richness is crucial for developing effective e-commerce strategies.
    • Each type of e-commerce player needs tailored strategies to compete effectively in the evolving digital marketplace.