Retail

Half Of Online Retailers Seek To Switch eCommerce Platforms

Today’s retailer is required to be quick and nimble with the ever-changing online shopping arena. Due to the 24/7, fast-paced shopping of consumers, many online retailers have been stretched at the seams to meet shoppers’ needs.

According to Internet Retailers first “Quintessential Guide to E-Commerce Platforms,” just released this week, approximately 50 percent of online retailers are not happy with their current eCommerce platforms.

While 17 percent of those retailers surveyed are in the middle of selecting replacements, the research showed an overwhelming 72 percent plan to switch to new eCommerce platforms by 2019.

What’s causing online retailers to make the leap?

Internet Retailer is attributing this to online retailers outgrowing their current systems. ECommerce platform providers are set to see major profits from this as Forrester predicts the switch will cost upwards of $2.1 billion within the next two years.

Which types of eCommerce platforms are most of these online retailers selecting?

Out of those surveyed, the report found a large portion (40 percent) have decided to use the Software-as-a-Service model. The SaaS web-based platform allows retailers to more easily upgrade websites with a less technical staff.

As we move forward and more retailers enter the online marketplace, we’ll see retailers with more room in their operational expense budget to focus on other areas of innovation.

——————————–

Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 AML/KYC Tracker provides an in-depth examination of current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

Click to comment

TRENDING RIGHT NOW

To Top