Strategic plans enable e-retailers to act, not react

[mandy]

Many Internet retailers, big and small, may think they don’t need a strategic plan, but without one they’re simply reacting to tactical moves by competitors, to unanticipated fluctuations in supply or demand for their merchandise, or to new developments in the industry.

“A lot of times a business will just roll along and there’s not much effort toward improving,” says Craig Smith, founder and managing director of Trinity Insight LLC, a consulting firm that works with e-retailers on strategic planning. “People spend their time putting out fires” instead of thinking about the future. A formal e-commerce strategic plan is one of the best tools for ensuring happy customers and profitability, Smith adds...

If a retailer hasn’t done an e-commerce plan before, sometimes it’s effective to start with just one aspect of the business...

full article: http://www.internetretailer.com/article.asp?id=20946