Despite the pandemic and the uncertainty in the global economy, there has been a steady growth in the eCommerce market. The pandemic somewhat boosted the market, and as a result, there has been a steady growth of eCommerce platforms. Statista reports that by 2024 eCommerce will account for 21.8% of global retail sales. Another study revealed that the market size of eCommerce is growing exponentially and is projected to have a CAGR of 14.7% between 2020 and 2027. This makes e-commerce have a revenue of $27.15 trillion by 2027.
You can choose from different eCommerce platforms, regardless of your business, if you don’t want to lose out on customers. However, you will benefit from online stores irrespective of having a startup, small to medium-sized business, or a huge brand. Some of the benefits that eCommerce offer to businesses are:
- Reach out to a much wider audience to the extent of going global
- Reduces the overhead costs associated with a physical store
- With new technologies and marketing strategies, you can brand your products better at much lower costs
- You can provide access and service to your customers around the clock without closing it down
- You offer a more convenient shopping experience to your customers without them having to take the time to visit your store physically
- You can be a part of the $1 trillion in 2022, which Adobe expects. Whereas current year spending is estimated to be $850 billion to $930 billion.
With market understanding, the demand for eCommerce, there is a plethora of platforms. While some services have become the biggest eCommerce platforms, new services are still coming up, allowing businesses to go online. But what is an eCommerce platform? Which is the topmost platform? These are two vital questions. So let’s look into each one separately.
What is an eCommerce Platform?
eCommerce Platform is a unified space that offers all the tools you would need to run and scale your online business. The software enables you to manage the stock, payments, customer requirements, invoicing, along with analytics and data to understand and serve your customers better. In addition, there are eCommerce platforms examples that facilitate your day-to-day operation without complicating the process.
Furthermore, with the eCommerce platform, you can customize your storefront and usage with many plugins available. Thus it is much cheaper and easier to manage than developing software from scratch for your business.
Irrespective of which eCommerce platform you choose, there are some standard features it should have.
- Helpful and user-friendly interface
- Customization and designing options
- Stock and online store management system
- Secure multiple payment gateways for orders
- Robust security system
- Round the clock technical support
- Plugins for incorporating promotions and offers
- In-built analytics and data consolidation
With these features in place for eCommerce platforms, the seven best options are available in the market.
7 Best eCommerce Platforms
We have compiled an e-commerce platform list of the seven best vendors in the market and used by most businesses worldwide.
One of the leading eCommerce cloud-based platforms. It can be easily used by B2B and B2C businesses with low ownership costs and immensely flexible APIs. In addition,
There is the option to customize the system with a variety of features and tools at your disposal:
- SEO tools
- Marketing campaigns
- Flexibility processing returns
- Easy integration with sites such as Amazon and more
- Hassle-free shipping
BigCommerce is a popular choice amongst mid-sized businesses.
Pricing – The standard package starts at $29.95/month.
A free, open-source WordPress plugin site that can work as an online storefront. It has integrated and paid features. This platform is apt for startups and small businesses and is easy to customize. However, with too many plugins, themes, and products, it can slow down. Other features you get in WooCommerce are:
- Highly flexible
- Robust SEO possible
Apart from great customization, WooCommerce is nothing but a plugin that can be activated to a website to add an online store. Once the limitations start coming your way, a need for a web development expert arises. So, when you want to improve the scaling of the business, shift to another platform.
Pricing – With various customizations, it can cost around $1000.
This is another service platform for eCommerce that is robust. An immense number of benefits like mobile-friendly interface, advanced SEO, impressive in-built content management system, easy third-party integration, immensely secured data, and payment gateways make this one of the most preferred platforms. Choosing Magento makes available various features such as:
- Smooth expansion to various locations at once
- Improved shopping experience
- Tracking of events like AddToCart, Proceed to Checkout, etc. made easy
- Full integration to other sites
- Adaptability and scalability altogether
If you’re a business owner with great business plans to rule the eCommerce industry, Magento is a way to make your success and customer journey easy. Also, you can make a difference by opting for Magento 2 migration services for your eCommerce business.
Pricing – Basic version comes free. The enterprise version can cost you around $20,000 yearly.
A drag and drop website creator that can be adjusted as per your requirement. It is one of the simplest eCommerce sites available in the market. You can upgrade the Wix website to avail the full functionality of their eCommerce features. In addition, the Wix store manager will help you with:
- Tracking orders
- Inventory management
- Communication with customers
- Bookkeeping by integrating third-party applications
Pricing – The most popular choice amongst various businesses is Rs 185/month. However, various plans are available.
Easy to set up drag and drop option to build the website makes it a choice for many. But if you are planning on building something with loads of products and features and improvement in SEO, this might not be the right choice for you. However, Shopify is excellent if you plan to integrate your social media platform and online marketplace to sell the products. Other features you get:
- Extremely user-friendly
- It makes on-page SEO simple
- Mobile friendly
- Easy launch of products
- Availability of learning
Popular among start-ups or individual business owners having product SKU under 100. Once the business starts growing, the platform starts becoming quite expensive to manage.
Pricing – $29/month for basic
You would need technical knowledge of HTML, PHP, or CSS to set up your eCommerce site with this platform. However, it offers over 2000 free templates and has a plethora of tools to build your business. Apart from customizing almost everything with PrestaShop, you also get:
- Range of payment options
- Real-time order management
- Automatic invoices and even creates promo codes,
- Easy integration of blogs
- Easy setup
PrestaShop is a popular choice amongst non-English-speaking countries. Hence, you don’t need to pay anything for the ownership and transaction fees.
Pricing – It is completely FREE to use and does not come with a pricing plan like other platforms.
7.Salesforce Commerce Cloud
This is beneficial for every business and industry. Since the platform allows you to offer an amazing customer journey scaling and pivoting the business in the direction you want. It is an easy platform to adapt and drive business success by meeting customer requirements. Getting your hands on Salesforce Commerce Cloud gives you:
- Easy interaction with AI
- A personalized experience for customers
- Easy to adapt
- Super mobile-friendly
- Amazing storefront design
Talking about accessibility, scalability, and integration, the platform is a great choice helping other businesses experience a great uptime. Hence, whether you want to start or keep moving, Salesforce Commerce Cloud is perfect.
Pricing – Depends on business needs.
With these seven e-commerce platforms comparison in place for you, it is time for you to choose one of the eCommerce platforms that will suit your business. Even without hiring a store manager for your business, you can run it successfully with an eCommerce website while enjoying better ROI and marketing opportunities to scale better. So, get your hands on the most preferred eCommerce platform matching your needs. Then, in the comment section, let us know which one you found the most suitable.
Vishal Lakhani: Founder and CEO at Rock Technolabs with over 10+ years of experience in eCommerce. Apart from blogging and playing with Magento, he loves to read, travel, and learn new technologies that help make the development process easier and more appealing to our clients.