Which eCommerce Platform will Dominate the Marketplace in 2020? [Infographic] – Digital Information WorldeCommerce
E-commerce is an ever growing market and you have to compete every other day to keep yourself ahead. Evolving e-commerce platforms and keeping up with the changes in SEO must be taken care of.
There is a number of eCommerce platforms that new online sellers and even established merchants get lost in. But the question is what are the top e-commerce platforms for 2020?
There are a few eCommerce platforms that are doing better than the rest. Some of those names include ‘Magento’, ‘Bigcommerce’ and ‘Shopify’. Similarly, ‘Wix’, ‘Woocommerce’, ‘Squarespace’, ‘Opencart’ and ‘Prestashop’ are also known for their distinctive features.
Online sales are growing with time, as in 2016 the total online spending was $1.9 trillion and in 2021, the spending is expected to be $4.5 trillion.
One of the reasons for popularity on eCommerce platforms is their connection with social media platforms. Instagram is working on its shopping feature, Pinterest with its shopping feature (Catalogs) and the H&M online fashion advice. In the last two years, there has been a 110% increase in social referral to retail e-commerce platforms.
Best Customer Experience on E-commerce Platforms
E-Commerce that provides a personalized experience has an onsite chat feature for conversational e-commerce and is with digital experience optimization in place of conversion rate optimization is considered to provide the best customer experience.
Around 90% of the CEOs of e-commerce platforms think their company provides the best e-commerce customer experience. Whereas, only 10% of the customers think that the companies are providing the best e-commerce experience.
Ecommerce platforms are deeply connected with the SEO efforts and a lot of users are directed through the better search results of e-commerce platforms. Shopify is ahead of its competitors when it comes to SEO results, that is according to . Then is WooCommerce, 3dcart, Magento and Bigcommerce.
Market Capitalization of Ecommerce Platforms
Amazon is leading the e-commerce market capitalization with $860.5 billion. On the second spot is Shopify with $37.7 billion and then comes eBay with $32.1 billion.
Mobile users have a huge presence on e-commerce platforms, therefore it is important for e-commerce platforms to ensure the best mobile experience by making their apps and sites responsive. Shopify is believed to provide the best mobile experience, followed by Magento and Bigcommerce. Woocommerce and Prestashop are also among the best mobile experience providers to their mobile users.
There are around 1.7 million domain and Woocommerce, 29.1% (487,419) have the highest market share by domain. Squareshare is on the second spot with 310,795 (18.5%), Shopify (10.83%) is on the third spot with 181,371 and then comes Monstercommerce (5.07%) 84,852. Magento (4.18%) is also on the list with 70,014 market share, Wix (3.95%) with 66,167 whereas Rest (28.32%) is with 474,351 market share.
It is expected that this year, 81% of the retailers will have unified commerce platforms.
Shopify As Rising E-commerce Platform
Though Shopify is already doing well, it is expected that it will continue to grow in 2020 as well. Around 25% of the Shopify merchants have allowed social selling. It known for providing one of the best mobile experiences, as 73% of the traffic on Shopify is from mobile. Not only traffic but 61% of the sales are also from mobile.
Each platform is trying to rise above the others and there is no clear winner as yet. Every platform has its own significance and therefore it will cater to the needs of the market it dominates.
New technological features like the integration of chatbots and recommendation engines are important. The better the digital experience optimization, the better share in a growing market.
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