E-commerce Management of First Rays

Abstract

Online shopping was first made available in Bangladesh a few years ago, and it quickly gained popularity around the year 2013. There were a large number of firms that pioneered internet commerce that got their starting around that time. Both domestic and foreign businesses existed for some years in the e-commerce arena of Bangladesh. There is now a favorable environment for internet shopping in Bangladesh, and the government of Bangladesh is placing more importance on this industry in light of the country's forecasted economic expansion. FIRST RAYS Bangladesh is the company that started the e-commerce business in Bangladesh as a geographical expansion strategy, they are originally from China. They are responsible for starting a new era in the trend of online buying. It made a huge number of commercial options available. FIRST RAYS is continuously increasing its market share throughout the country even though several external environmental forces are pushing the whole industry in a negative direction. Porter's five forces model, conducted in the context of this industry, showed that this industry is a favorable one in which to do business. During our in-house investigation, we concluded that one of FIRST RAYS's greatest strengths is its partnership with Alibaba. Its primary deficiency is that it has very high overhead costs. Because Bangladesh's business sector is now experiencing rapid growth, FIRST RAYS might potentially capitalize on the country's many opportunities. It also faces competition from other businesses in the same industry. The availability of a wide variety of items is one of FIRST RAYS's primary strengths and key competencies. It is applying all of these techniques very effectively to build up the brand, and it is doing great with the assistance of a highly effective corporate strategy that is designed to acquire the largest possible market share in a very competitive market. FIRST RAYS has to pay greater attention to the quality of its products, as well as its delivery and after-sales support if it wants to keep its leading position in the e-commerce sector of Bangladesh.