After intensive research we identified that the prices of certain goods are better out of our country; for instance, 4 out of every 10 Colombians did online purchases in 2020, and the growth of this modality only seems to increase. On top of that, our analysis allowed us to evidence that the products Colombians buy the most from other countries are: electronic devices, beauty and clothes, and entertainment. 

 

In light of the above, we decided to create an Ecommerce with international shipping service for Colombians to have the possibility of purchasing their products for lower prices, and in that way, save some money. We want to give people the opportunity to profit from cheaper prices as if they lived somewhere else. For example, in the US, the iPhone 14 Pro Max, costs $1099 USD, $5,300,000 COP, while here in Colombia it costs $7,950,000 COP. The price difference is almost $2,600,000 COP; money that our users could save by hiring our services.

 

To start developing our business, we performed a market research to define our target audience, which is composed mainly of teenagers and young adults, of both genders, and from middle to high income. Additionally, we were also able to identify two main concerns of our audience: the price and the currency, which is why we decided that keeping prices low, or at least affordable was very important, as well as using an only currency to avoid complications, which in our case will be the dollar.

 

Deeper into our market research, we identified that our main competitors include both national and international companies such as Servientrega Box and Diamond Logistics, who also focus on shipping and Ecommerce. This analysis allowed us not only to identify certain aspects to add to our page, such as chats to offer a more personalized service and a “Learn more” button for customers to be informed about our services, but also to make our business innovative and different to those that already exist.

 

What sets TradeHero apart, is that it targets Colombians specifically, which allows them to gain more benefits than they would from a global business that has no particular aim in their market. Our page achieves this by comparing the price customers would pay if they bought a certain product in Colombia, with the price at which they could acquire it in another country. This allows users to see the amount of money they are saving by getting a certain item through our page, which in most cases is about 20% or even more, of the total value.

 

Looking into our marketing strategies, we decided that something very beneficial both for our customers and our company, is to give a 5% discount if a customer subscribes with their email to our web page, and accept the confirmation email. This will allow us to ensure that we’re in constant contact with our users in order to form a bigger community and network surrounding our company. These emails will also inform them on future promotions and benefits, as well as notify them on new products available on the page.

Since our research demonstrated that Colombians buy mainly electronic devices, beauty items, clothes and entertainment, we inferred that it is safe for us to start off offering mainly technological and beauty products, and then start introducing new things. Moreover, we deduced that we will need to take into account how we are going to transport the electronic devices, because some of them might be fragile and need special packaging.

 

The process of shopping in TradeHero is simple and intuitive. First you will browse through the page seeking for a product that convinces you, then you click on the “BUY” button located at the bottom of the product. This will add the product to the shopping cart and give you two options. The first one is to click out of the car and continue shopping or view the shopping cart in which you could finish your order and be redirected to a safe page for proceeding with the purchase.

 

We have planned various strategies in order to develop loyalty in our customers. In this way we could retain the clients and avoid their departure to competence. We divide our strategies into two principal ones. First of all we know the importance of making our clients feel that they matter to us, that's why each year they will receive an email from TradeHero congratulating them for their birthday. In addition to this, we will send regular emails remembering them of the daily offers on the digital store. The second strategy is to apply a loyalty program for our clients; here, customers will receive a specific amount of points for each dollar they spend on the store, which in the future they will be able to redeem on prizes such as: discounts, free shipping, fast delivery or raffles in the store.

In a nutshell, TradeHero is a new company that will take advantage of technology to fulfill a necessity in the Colombian population. We’re certain our Ecommerce has a great vision to expand in the future, as well as a structured plan to maintain and gain new customers through this magnificent community we are creating. Visit https://1382gmm.wixsite.com/tradehero and become part of our groundbreaking project!