46.3% of merchants listed ecommerce platforms in their top three technology budget priorities over the next year, according to Digital Commerce 360’s 2019 Ecommerce Technology Survey of 160 retailers conducted in August 2020. That’s just one finding included in the new Digital Commerce 360 2020 Guide to Ecommerce Platforms.
What’s more, 57.7% said they invested in ecommerce platform technology from a vendor over the last 12 months and 28.0% said they are actively looking to switch ecommerce platforms. 73.3% of those merchants intend to use a platform from a vendor rather than building one in-house.
And with good reason. Online sales are growing at a rapid clip—U.S. nonstore retail sales grew at a record rate for December and rose 13.9% in 2019—and that’s leading merchants to demand more from their ecommerce platforms in order to retain a competitive edge.
Retailers like furniture merchant Industry West are using new features from their ecommerce platforms to aid shoppers iSEOn their purchasing decisions and boost sales. About 18 months ago, Industry West moved to Adobe’s Magento Commerce 2.1.2 platform, in part for the customization availability. More recently, it upgraded its site again to Magento Commerce 2.3. Updating its ecommerce home has paid off in growing online sales, a higher average order value and the ability to offer more customization features to shoppers.
For example, Industry West used Magento to add wish list functionality to its site, enabling its trade customers to create projects online. Using Magento Commerce, it built a platform where customers can select a color palette and add a project timeline, then add pieces to their projects. Additionally, a new Magento feature, called Page Builder, helps employees build customized pages easily, without needing to know coding or speaking with a Magento developer.
Industry West relied heavily on Page Builder for the company’s blog, which was recently relaunched, and a form that enables the company’s trade customers to request tax exempt status.
Since moving from Magento Open Source to Magento Commerce, several of the retailer’s metrics have improved. Its web revenue increased 40% year over year in the first year.
Digital Commerce 360’s just-released 2020 Guide to Ecommerce Platforms provides a snapshot of the rapidly changing ecommerce platform market. It includes data on new features added by top providers, robust case studies, a ranking of the most popular ecommerce platforms used by Top 1000 retailers and much more.
Here is what you get in this PDF report: