Technology Advancement in Best E-Commerce Platforms - PowerPoint PPT Presentation

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Technology Advancement in Best E-Commerce Platforms

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The E-commerce platforms help businesses in handling the online store processes, right from their inventory, to adding or eliminating products, to calculating taxes and fulfilling orders in the best possible way. – PowerPoint PPT presentation

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Date added: 15 September 2020
Updated: 16 September 2020
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Title: Technology Advancement in Best E-Commerce Platforms


1
Best E-Commerce Platforms in 2020
  • E-commerce platforms help businesses in handling
    the online store processes, right from their
    inventory, to adding or eliminating products, to
    calculating taxes and fulfilling orders in the
    best possible way. The e-commerce platform market
    has an estimated value of around
  • 5.6 billion U.S. dollars in 2020 and is estimated
    to grow to approximately 6.7 billion U.S.
    dollars by 2023. With the fast growth of
    e-commerce sales, international retail e-commerce
    sales are predicted to reach 6.6 trillion U.S.
    dollars by 2023.
  • High spending capacity combined with an increase
    in spending on apparel is expected to upsurge
    the growth of the global eCommerce platform
    market over the next few years. Furthermore, the
    eCommerce industry has grown unusually well in
    the earlier years and is expected to witness
    exponential growth in the upcoming years.
  • Read More - https//www.360quadrants.com/press-re
    lease/360quadrants-releases- quadrant-on-best-e-c
    ommerce-platforms
  • Market Segmentation
  • The market is categorized in five major regions
    that include North America, Asia Pacific,
    Europe, Middle East Africa and Latin America
    regions. Amongst these regions, Asia Pacific is
    likely to lead the overall ecommerce platform
    market over the next few years. Increasing
    number of business formations is providing the
    best opportunities for the e-commerce platform
    service providers.
  • Based on type of platform, the market is
    classified into, commerce, order management,
    business intelligence, shipping and others,
    amongst which, commerce is accounted for the
    biggest market share in complete worldwide
    ecommerce platform market.
  • Technology Overview
  • best e-Commerce platforms also be termed as a
    shopping cart solution, shopping cart software,
    ecommerce website builder, online store builder
    or ecommerce platform and it caters a sole
    purpose that is to help businesses in selling
    their products online. Ecommerce platform
    comprises customizable site templates, a unified
    shopping cart, SEO, email marketing, inventory
    management and analytics.

2
  • e-Commerce Platform Drivers and Limitations
  • The international e-Commerce platform market is
    driven by the software that is user- friendly
    and also inexpensive for small scale businesses.
    The price of adding an ecommerce constituent to
    present business and enter in a newer market
    falls anywhere between US 100 to US 150 per
    month and it allows expansion through online
    business.
  • ommerce is quickly accounting for a larger
    quantity of the total retail sales in the U.S.
    According to the U.S. Department of Commerce,
    customers spent about US 194 billion online in
    2011. With this kind of consumption and trend, a
    growing number of small and mid-size companies
    are taking the online platform for all or some of
    its operations.
  • However, higher prices of hybrid and cloud based
    software and low internet penetration rate in
    emergent countries are some of the important
    factors which are likely to restrict the growth
    of global ecommerce market in the near future.
  • Top 10 e-Commerce Products in 2020
  • eCommerce platforms help businesses in managing
    their core processes like the front-end vending
    of products and services, and the back-end
    operations of managing inventory and customer
    order history. 360Quadrants has analysed the
    e-Commerce market and has identified top 10
    products in the market based on various critical
    parameters. These top products have been
    highlighted below
  • Shopify
  • WooCommerce
  • BigCommerce
  • Miva
  • 2Checkout
  • nopCommerce
  • Magento Commerce
  • SuiteCommerce
  • Ecwid

3
  • 3dcart
  • Handshake
  • Digital River
  • Square E-commerce
  • Storbie
  • TrueCommerce
  • Expedite Commerce
  • E-Commerce Platform Challenges and Resolutions
  • An Absence of Online Identity Verification
  • Customer sign-ups with incorrect information or
    COD purchases with fake contact details may lead
    to huge revenue damages.
  • Checking for any signs of suspicious activity and
    identifying fake phone numbers and email
    addresses
  • Sending a verification link when a customer signs
    up
  • With COD purchases, an automated call could even
    dial out to the customer, asking them to
    validate the delivery address.
  • Delivering Omnichannel customer experience
  • Customers today tend to use multiple channels to
    interact with brands. In this case, any business
    that isnt adopting an omnichannel retailing
    strategy will possible lag behind its online
    savvy competitors.
  • Latest visual engagement tools allow businesses
    to help customers across all channels
  • Recognizing key channels

4
  • Many online stores purchase products wholesale
    from producers or distributors, selling them
    with retail online. This is the straight forward
    business model for online stores. It happens
    often, that the product manufacturers and
    retailers start selling straight to consumers.
  • Prioritise the manufacturers who are less likely
    to sell directly to customers
  • Lower the price or offer additional benefits
  • Set a contract that prohibits manufacturer to
    sell to the customers directly
  • About 360Quadrants
  • 360Quadrants is the largest marketplace looking
    to disrupt USD 3.7 trillion of technology spends
    and is the only rating platform for vendors in
    the technology space. The platform provides
    users access to unbiased information that helps
    them make qualified business decisions. The
    platform facilitates deeper insight using direct
    engagement with 650 industry experts and
    analysts and allows buyers to discuss their
    requirements with 7500 vendors. Companies get to
    win ideal new customers, customize their
    quadrants, decide key parameters, and position
    themselves strategically in a niche space, to be
    consumed by giants and startups alike. Experts
    get to grow their brand and increase their
    thought leadership. The platform targets the
    building of a social network that links industry
    experts with companies worldwide.
  • Contact
  • Mr. Agney Sugla
  • agney_at_marketsandmarkets.com 630 Dundee Road,
    Suite 430
  • Northbrook, IL 60062
  • USA 1-888-600-6441
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