Why is platform selection so important?
India’s eCommerce business experienced exponential growth of about 80% in 2013, and this magnitude of growth has continued. Explosion of online shopping in India has woken up retailers taking a lax look at eCommerce. With predictions of the eCommerce market shooting from the current $3 billion to $15 billion by 2016, it is high time to enter the online market.
However, managing an eCommerce website can be a daunting task as well as an extremely expensive affair if not tackled in the correct way. The easiest and best way to go about opening an eCommerce store is through an eCommerce platform – where all the technology and backend is taken care of. When you are looking to create your online presence, choosing an eCommerce platform is one of the first decisions you will have to make. However, this choice is not as straightforward as it may seem. With stupendous growth in eCommerce and a multitude of available platforms, the choices you have are vast. You are often told and may think that choice is a good thing, however, it is not always so as it makes your decision making process here even harder.
Retailers are in a rush to open their eCommerce stores today, however, it is important you make the right choice the first time as changing platforms later can be time consuming and expensive. The platform you choose to go with matters. There have been many cases where short-sightedness while choosing an eCommerce platform or route has resulted in problems especially when on-site traffic increases, for e.g : Marks and Spenser. In a recent survey, 22% of the companies said they had changed platforms within the past year an 32% said that they are looking to change their platform in the future. It can be inferred that a huge number of companies do not find their right platform math the first time.
The eCommerce platform you choose is pivotal to your eCommerce journey – just like the car you buy is important for your driving experience or the person you marry plays a role in maintaining your relationship. As while buying a car, you would do a thorough research of the specifications, you would have to do the same with your eCommerce platform. If you want the performance of a Mercedes, but buy a Maruti 800(Alto 800 now), you are not going to be happy. If you marry a person without agreeing on future possibilities, you are going to be in for a surprise! Similarly, if you get on a eCommerce platform without thorough research, you are going to regret it.
To make sure you make a wise and informed decision, we analysed and consolidated considerations which really matter to your business. Here are the top 6 considerations you should be taking prior to choosing your eCommerce platform: –
Technology: Technology is the nucleus of the platform, around which it is built.
Omni-channel Capability: The platform should have the ability to handle marketing, selling and servicing in an integrated manner across multiple channels such as online, mobile, social etc.
Report and analyse: Your eCommerce site is a mine of data you need to get valuable insights out of. The required tools for this activity are the reporting and data analysis capabilities of your platform.
Extensibility – Retailers should look for a platform that comes pre-integrated with a wide array of third party solutions.
Total Cost of Ownership: It’s important to consider total cost of ownership – the sum total of direct and in-direct costs
Time to market and User Control: Timing is as important as your offering to your customers.
Download our complete guide to platform selection to know more. With this guide detailing what to look for, you will significantly save on your decision making time.
This platform selection guide includes:-
- Detailed top 6 considerations to take while selecting a platform
- Questions to ask eCommerce platforms you are considering
- Checklist to follow to help get you closer to the decision