report major in electronic commerce build an e commerce business project

Business idea: Baby Nutty will be the name of our nut milk brand with the motto of always prioritizing health.. Utilizing the e-commerce trading floor Shopee, the milk brand Baby Nutty w

UNIVERSITY OF ECONOMICS AND LAW FACULTY OF INFORMATION SYSTEMS

REPORT

MAJOR IN ELECTRONIC COMMERCE

BUILD AN E-COMMERCE BUSINESS PROJECT

Supervisor: Ph.D Nguyen Thi Thuy Hanh Student:

Nguyen Hoang Duc - K234111430 Bui Hoang Dieu - K234111427

Le Trung Nhan - K234111439 Nguyen Thị Bao Tran - K234111455 Nguyen Yen Nhi - K234111443

Ho Chi Minh City, November /2023

TABLE OF CONTENTS LIST OF TABLEES HH HH HH HH HH HH HH HH HH HH

LIST OF FIGURES Án HH HH HH HH HH HH HH xà

CHAPTER I: DEFINING E-PLATFORM AND DEVELOPING

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CHAPTER IV: BUSINESS

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CHAPTER V: DEVELOPING AN E-COMMERCE PLATFORM

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LIST OF TABLES Table 2.3 Compare some similar products on the market - . - - -

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LIST OF FIGURES Eipure 2.2 PWC Apri 2023 Consumer Habits Survey -.c sec

CHAPTER I: DEFINING E-PLATFORM AND DEVELOPING

BUSINESS IDEAS 1.1 Defining e-platform:

Shopee is the best E-commerce trading floor in Southeast Asia and Taiwan It belongs to SEA Group whose headquarter is located in Singapore This is a superior online trading platform which provides convenience in payments and logistics The CEO of Shopee is the billionaire Forrest Li - also the CEO of GARENA, which is Shopee’s holding company

1,2 Business idea:

Baby Nutty will be the name of our nut milk brand with the motto of always prioritizing health Here, 'Baby' 1s metaphorically referred to as the baby of the god of health No matter how busy you are, set aside a

‘baby time’ (a little time) to take care of your health by focusing on foods that provide energy and nutrition, typically nut milk

Our product has variety of flavors It comes in an array of flavors to suit every palate From the creamy richness of almond milk to the sweetness of cashew milk and the refreshing taste of coconut milk, we have something for everyone

We provide healthy and nutrient-rich kind of milk, nut milk is a great source of essential nutrients, including healthy fats, vitamins, and minerals It's an excellent choice for those looking to boost their overall well-being

It gonna be a Versatile and Delicious product Use our nut milk in your morning coffee, cereal, smoothies, or as a base for cooking and baking It's a versatile addition to your kitchen Moreover, being Dairy-Free and Vegan-Friendly are two factors we have to mention Our nut milk is completely dairy-free and vegan, making it suitable for individuals with lactose intolerance and those following a vegan diet

Utilizing the e-commerce trading floor Shopee, the milk brand Baby Nutty will develop a business model following the B2C format at the present and B2B in the future if possible The brand approaches their customers with the promise to prioritize customers’ health

CHAPTER II: ANALYZING MARKET 2.1 Market:

As aresult of the COVID-19 pandemic, the trend of consuming products with health benefits has significantly increased Consumers have become more conscious of the factors that impact their lives

Additionally, due to supply chain disruptions and inflation, consumers have altered their lifestyles and purchasing habits They have quickly adapted their shopping behavior and actively switched between purchasing channels to ensure a consistent shopping experience This habit is likely to continue and become more prevalent in the future Nielsen estimates that the global nut milk market will reach 34 billion USD by 2024 Countries actively participating in this game include Germany, England, Italy, France, Spain, Netherlands, Russia

2.2 Target customers:

Our nut milk is suitable for everyone, especially vegetarians, consumers who focus on health but do not have time for direct shopping

In term of Consumer’s behavior, in Vietnam, demand for nut milk is also increasing sharply A report published on the Vietnam Industrial Research and Consulting site in 2020 said that 66% of Vietnamese consumers want more products made entirely from natural ingredients Notably, according to data from the General Statistics Office in 2020, Vietnam's liquid milk market has a compound annual growth rate of 14%

in the period 2014 - 2019 Of which, the domestic nut milk market accounts for 12 % in the liquid milk market structure, with a CAGR reaching 18%, the highest among liquid milk lines

Moving on online shopping behavior, we found out that 64% of consumers will shop online more often (according to PWC April 2023 Consumer Habits Survey)

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Figure 2.2 PWC April 2023 Consumer Habits Survey 2.3 Competitors:

(Energy)

71.5 keal/180 mL

TH True

180mL packs

True Nut

Sahmyook -

milk

Vinasoy -

~30.000VND/ 6

200mL packs milk

Table 2.3 Compare some similar products on the market

Strength of product:

Product Variety: The ability to develop various types of nut milk products to meet diverse customer needs

Product Quality: A commitment to ensuring product quality and food safety for all products

User-Friendly Website: Building a user-friendly e-commerce website with an intuitive interface

Communication Strategy: Using both online and traditional communication channels to create awareness and promote the product

CHAPTER II: BUSINESS PLAN 3.1 Objectives and Vision of the Project:

3.1.1 Short-term objectives:

Through marketing and promotional activities, the project aims

to enhance consumer awareness of nut milk, creating demand for its use

Boost Sales: Following heightened consumer awareness, the project aims to drive sales through promotional campaigns and discounts

Market Research: The project will gather information about consumer preferences and needs to inform future product and service development

3.1.2 Long-term objectives:

Become a Leading Nut Milk Provider in the Market: The project aims

to establish a reputable brand and exceptional product quality to capture

a significant market share

Expand Market Reach: The project will expand its market to reach customers in regions beyond urban areas, catering to a broader audience

Create Social Value: The project will use eco-friendly ingredients and engage in community activities to contribute to society

3.1.3 Vision:

The project's vision for selling nut milk on the e-commerce platform is

to become one of the leading nut milk providers in Vietnam, offering high-quality, safe, and healthy nut milk products to consumers

3.2 Product and service development:

3.2.1, Product Development:

Develop a range of nut milk products with various variations and flavors to meet diverse customer needs This may include organic nut milk, strawberry-flavored nut milk, sugar-free nut milk, vanilla-flavored nut milk, almond milk, and many more

Ensure that all products meet high-quality and food safety standards Implement regular quality checks and comply with food safety regulations

Consider obtaining organic certifications for some nut milk products if the ingredients and production processes are suitable

Invest in research and development to improve and innovate products Test new formulations and gather customer feedback to enhance the product

3.2.2 Customer Service:

Build a user-friendly e-commerce website with an intuitive interface for online shopping Ensure that the online shopping experience is easy and convenient

Provide fast and reliable delivery options for customers Ensure that products reach customers in a reasonable time and in good condition

Offer customer support through various channels, such as phone, email, and the website Respond promptly to inquiries, resolve issues, and provide detailed product information

Create promotional and discount programs to encourage customer loyalty Offer incentives for repeat customers and establish a membership card system for reward points

3.3 Communication strategy:

- Content Lines: Focus on messages about the benefits of nut milk for health, such as:

+Nut milk is nutritious and good for health

+Nut milk is a healthy alternative to animal milk

+Nut milk comes in various delicious flavors, suitable for the Vietnamese palate

- Communication Channels:

a) Online Communication:

+ Website:Build a reliable and user-friendly e-commerce website Ensure that the website displays comprehensive product information, pricing, delivery policies, and contact information

+ Blog Content: Create useful and relevant content related to the product on the blog Write about the health benefits of nut milk, how to use it in various dishes, and related recipes

+ Advertising on Social Media Platforms: Facebook, Instagram, and YouTube

+ SEO for the website, Google Ads, etc

b) Traditional Communication:

+ Print Advertising: Reach a wide range of readers through advertising

in reputable, health-related newspapers

+ Television Advertising: Gain broad exposure through advertisements

on high-viewership TV channels

+ Exhibitions and Trade Shows: Participate in health and wellness exhibitions and trade shows to promote the product

+ Community Marketing: Implement community-driven marketing activities, collaborating with bloggers and influencers to promote the product to a wider audience

3.4 Sales strategy:

- Develop Sales Messaging: Create a sales message with a focus on the product's benefits for customers Develop a unique selling proposition that distinguishes your product from the competition

- Pricing and Promotions: Sales Strategy For instance, discounts on bulk orders, loyalty programs, and seasonal promotions

- Sales Process: Train the sales team on product and customer interaction Develop a seamless and quick online or offline shopping process for customers

- Customer Service: Provide excellent customer service through various channels, including phone, email, and the website Respond promptly to requests and inquiries

CHAPTER IV: BUSINESS RESOURCES

4.1 Expenses:

a) Cost of goods sold (COGS): The cost of nut milk varies depending

on the product and the retailer However, it is typically around 20,000 VND per liter

b) Shopee seller fees: Shopee charges a commission fee of 2.5% and a transaction fee of 2% + GST (2.16% total) on all sales of nut milk

c) Shipping costs: Shipping costs will vary depending on the weight and size of your packages, as well as the distance they need to travel

However, it 1s expected to pay around 10,000 VND per package for domestic shipping

d) Marketing and advertising costs: running ads on Shopee, social media, or other websites

4,2 Human resources:

a) Marketing and communications team: promote the product, including marketing, advertising, and communications professionals

b) Sales team: Responsible for building and maintaining relationships with customers, providing product information, and processing orders

c) Financial management team: manage budget, revenue and expenses, and overall finances

d) Customer service team: Provides customer support and service, resolves issues, and ensures that customers have the best possible shopping experience

e) Web development and IT team: Builds and maintains the e-commerce website, ensuring the stability and security of the platform

CHAPTER V: DEVELOPING AN E-COMMERCE PLATFORM 5.1 Product Management System

Enhancing product management capabilities: