O3 Technological Change; Research and Development
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Year of publication
- 2023 (2)
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- Master's Thesis (2)
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- English (2)
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Keywords
- Blockchain (1)
- Circular Economy (1)
- DLT (1)
- Direct-to-Consumer (D2C) (1)
- Distributed Ledger Technology (1)
- Hyperledger Fabric (1)
- brand identity (1)
- customer engagement (1)
- digital capabilities (1)
- e-commerce (1)
The implementation of direct-to-consumer (D2C) business models has become more important for companies trying to develop a competitive edge and improve consumer engagement in today's rapidly expanding e-commerce market. This master's thesis investigates the important success elements and problems of deploying D2C models in the e-commerce business. The research question focuses on identifying the factors that contribute to the successful transition to D2C models and the obstacles businesses encounter along the way. Through qualitative research using the Eisenhardt method and in-depth case studies with industry experts, this study provides valuable insights into key success factors for direct-to-consumer (D2C) business models in e-commerce.The findings highlight that businesses that effectively implement D2C models utilize key success factors such as a clear value proposition, customer engagement and relationship build- ing, seamless online experiences, targeted marketing and digital advertising, brand identity and storytelling, and flexibility and adaptability. However, they also face challenges related to operational adjustments, marketing and branding investments, competition, and market saturation. Based on these research outcomes, this thesis provides recommendations for businesses seeking to switch to or implement D2C models in e-commerce. These recommendations emphasize embracing a customer-centric mindset, developing digital capabilities, foster- ing strong leadership commitment, leveraging data and analytics, establishing direct customer relationships, optimizing operational processes, building brand trust and credibility, and allocating resources wisely. This master's thesis provides a comprehensive analysis of the key success factors and challenges associated with the transition to or implementation of D2C business models in the e-commerce industry. It provides advice to help companies successfully transition to D2C models.
Lack of transparency and traceability of products and their raw materials means that most products can only be thrown away or not properly recycled due to a lack of relevant data. This conflicts with the circular economy principles, which are demanded by several initiatives, including the European Union. The aim of this master thesis is to analyze this conflict and to propose a technical solution based on Distributed Ledger Technology that enables transparency and traceability of products and their materials. Therefore, the thesis addresses two central research questions: 1. How can traceability and transparency be enabled by integrating a DLT solution? 2. How would a prototype with the integration of smart contracts and DLT look like? To answer these questions, a blockchain solution is implemented using Hyperledger Fabric. The solution uses the immutability and decentralized nature of DLT to record and track the movement of products and their materials throughout their life cycle in the Circular Economy. Furthermore, with private data collections, confidentiality, and privacy are granted while ensuring transparency. The thesis contributes to the Circular Economy field by exploring the principles, models, and challenges of the Circular Economy and the circularity goals of a Digital Product Passport to develop a suitable technical solution. The chosen blockchain framework, Hyperledger Fabric, is presented, and its key components and features are highlighted. The thesis also delves into the design decisions and considerations behind the Digital Product Passport platform, explaining the architecture and transaction flow together with the prototype implementation and demonstration to showcase the functionality of the solution. Results and analysis provide insights into the challenges of the Circular Economy, sustainable resource management, and the Digital Product Passport, resulting in recommendations for future improvements and enhancements. Overall, this thesis offers a practical solution utilizing DLT to enable transparency and traceability in the Circular Economy, contributing to the realization of sustainable and efficient resource management practices to ultimately contribute to the set Circular Economy initiatives.