eCommerce

Elastic Path Enables The Future Of Commerce

Vancouver eCommerce software solutions provider Elastic Path is looking toward the future. Founded in 2000, Elastic Path began with the on-premises commerce platform solution, Elastic Path Commerce.

Its newly launched product, Commerce Cloud for AWS, gives online markets the flexibility they need to build systems for conducting commerce, not just in current point-of-sale, online and mobile spaces but within the growing IoT space.

Commerce Cloud for AWS just came out of beta earlier this month. Elastic Path is working to transition over into full production. As of now, it has four customers on the product: Australian appliance manufacturer Breville and three others, including a Fortune 1000 company and a tier 1 telco in the U.S., as well as a major fashion retailer.

“ECommerce is changing,” said Peter Lukomskyj, VP of products at Elastic Path. He has over 20 years experience in the tech sector, mostly in enterprise-level digital experience, security and storage.

“Today, we think of a retail point of sale, we think of online cart checkout, or we think of some new mobile checkout points. But that whole paradigm is going to disappear,” said Lukomskyj. “Point of sale is going to merge with online; offline and online will become one in the same. Consumers are already driving that.”

However, Lukomskyj said that most back-end systems that deliver those unified commerce experiences are struggling to keep up — with the exception of Elastic Path's Commerce Cloud and perhaps a few others.

“Our commerce platform not only allows companies to express their brand through various touchpoints — mobile, social, Internet of Things,” said Lukomskyj, “but also to conduct commerce at those touchpoints. What we're providing the market is a headless API-based system, which allows any of those touchpoints to be used as a transaction point.”

The key feature of Elastic Path's Commerce platform is the flexibility it affords users by being built atop Amazon's public cloud infrastructure. “SaaS delivers very specific benefits to customers; it delivers scalability and availability,” said Lukomskyj. “But what Cloud Commerce for AWS allows is the type of flexibility people need. Our approach was fundamentally different. We decided to modify our product to leverage the services that are available on the public cloud.”

“Our growth and our trajectory is key to innovative companies using the Internet of Things and driving the Commerce of Things through those experiences,” said Lukomskyj. “When you look at the IoT, the types of devices that are coming out are very much ones that are appropriate to a certain industry."

The future that Elastic Path projects for commerce is one where industries can design transactions onto industry-specific IoT devices. “The auto industry will want to embed commerce technology within cars, or at fueling stations, or electrical charging stations. Appliance manufacturers may want to put commerce within a screen sitting in your refrigerator able to reorder food or on your kitchen counter."

“We're able to take on the more traditional ways people transact, like point of sale, online, mobile, but also develop new consumption models. That's where we see the real potential for growth.”

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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