Why Do Businesses Need to Have Their Own eCommerce Platform?

When it comes to selling products online, businesses have two options - creating their own website or selling on a marketplace. Both these options have their own set of pros and cons, and there is no one-size-fit for all solutions. However, industry experts believe that businesses with their own eCommerce are better off and can do better.

Take a look at the below given statistics:

  • Over 26 million eCommerce sites exist worldwide, and new ones are being launched every single day.
  • In the US alone, there are more than 9.5 million eCommerce sites, and new ones are being launched every single day.
  • According to estimates, global retail e-commerce sales were around 4.9 trillion dollars in 2021.
  • In 2021, mobile e-commerce sales increased by 15.2% over the previous year to $3.56 trillion.
  • The average conversion rate for all eCommerce companies was 1.53% in 2021.
  • It's predicted that 95% of all purchases will be made online by 2040.
  • Only 2.86% of visitors to eCommerce websites actually make a purchase.

Irrespective of your business - retail shops, restaurants, etc, if you don't have an eCommerce website, you are leaving money on the table.

Small businesses need to accept the reality that the world has moved online. Consumers even if they buy something offline, do check the product online. Believe it or not, your customers are online, and having your own eCommerce platform has many advantages. 

Many companies, irrespective of their size, have started hiring adept developers who help them develop eCommerce platforms. Developers are well-versed with the Product Development strategy for eCommerce Solutions which helps them achieve effective as well as robust eCommerce results and it is really cost-effective for businesses to get their Potential eCommerce Platform built by experts.

How will an eCommerce Platform Scale up the Business Growth? 

Attract new customers

The immediate benefit of having an eCommerce platform is that you open the option to attract new customers. With eCommerce websites, you can achieve it through the process of search engine optimization (SEO). As per reports, 81% of retail buyers engage online research before buying anything. It means that if you don't show up in search results, you are losing direct customers. When you start showing on a search result, it adds incredible value to your business and helps you to grow traffic to your eCommerce Site. You can only achieve this in a much better manner when you have a perfect online address - an eCommerce platform.

Start private labeling

A private label product is created by a contract or outside manufacturer and marketed by a retailer. Retailers define every aspect of the product, including what goes into it, how it is packaged, and how it should be labeled, and they pay to have it created and delivered to their location.

For eCommerce sellers, private labeling is on the rise. If you own your brand and channels, you can sell what you want. Even if you start to sell generic products, branding them and selling them across the platform and sales channels give you more opportunities to build trust which leads to recurring business. With a private, you can collect customer data (the next point discusses the advantage).

Use customer email lists and market to them

When you have your own website, you can market to your customers directly. Unlike marketplaces, where buyers are customers of the marketplace and not of the seller, selling directly to customers means that you get to collect their contact information - the details are priceless. 

If you plan to launch new products or there are discounts, you can directly reach their inbox. It increases your sales. In a marketplace, getting repeat customers is quite difficult for businesses, your own eCommerce makes that easy for you.

Sell as you like

If you are currently selling on generic websites, you need to list products or showcase them as per their format. However, when you run your own eCommerce website, you have the freedom to list products as per your needs. For example, you can change the color scheme for some products if you think that will attract more customers. Not only the physical look, but you also have the option to change the product price, delivery price rules, and much more. You can experiment with different offers to conclude which offer works best.

New market acquisitions

When you have your business online, the sky is the limit. You can reach customers with your products all over the world. Once you have acquired customers in one geographical area, you can explore new geographies to increase new sales opportunities. Having an online store gives you the freedom to investigate independent logistical choices and keep up a consistent shipment schedule wherever you wish. Shipping coverage and quality are important factors in determining your company's success in this cutthroat market.

Best Technologies to Build your own eCommerce Platform 

  1. AbanteCart eCommerce

One of the most effective eCommerce Platform with rich community support has made AbanteCart the ideal choice for eCommerce development. AbanteCart offers enticing features and functionality support that makes it easy for developers as well as users to explore, experiment and achieve the best ecommerce results out of it. 

  1. WooCommerce

One of the well-known, self-hosted frameworks for WordPress websites that uses open source features is WooCommerce. It is a versatile platform with excellent, specially designed features and capabilities. It provides top-notch shop management with WooCommerce, which has a good initial selection of all the functionality required for eCommerce websites.

  1. Laravel

One of the well-known eCommerce frameworks is Laravel. The most creative strategy can be developed once you work with an Indian Laravel development business. It is an open-source framework written in PHP that employs the model-view-controller (MVC) design pattern and includes all aspects of object-oriented programming. The framework uses straightforward troubleshooting to make finding and fixing bugs easier.

 

This framework's strong adaptability aids in the creation of scalable and versatile eCommerce features. It provides compatible outsourcing integration for creating eCommerce stores with all the features needed to operate effectively.

  1. Shopify

One of the well-known hosted eCommerce platforms, Shopify, allows developers to create both a simple and remarkable online store with no technical effort. With separate subscription and outside tools, it streamlines store settlement and management.

 

This framework can create a smooth user experience by integrating the eCommerce shop with more than 100 additional applications. For instance, it only takes one click to activate Google Analytics and Smile.io.

  1. Magento

PHP was used to create the open-source eCommerce platform known as Magento. This framework may be quickly installed on dedicated servers or in the cloud (PaaS). Magento is a performance-driven, scalable, and adaptable framework that is a crucial component of Adobe Experience Cloud for an eCommerce website. Consequently, it is simple to link with Adobe components such as consumer data and information systems, analytics, etc.

  1. Angular

One of the top front-end JavaScript Google-driven frameworks is Angular. It is a low-code open-source framework that may be adapted to a variety of well-known eCommerce systems. The framework has a tonne of helpful resources, such AngularFire and Angular Components, as well as adaptable time-saving elements.

Conclusion

eCommerce strategies are important for every business to increase sales. You should research mobile optimization if you want a profitable eCommerce website. To ignore eCommerce is to essentially miss out on the vast majority of your potential clients.

eCommerce Solutions allows a Business to acquire loyal customers, grow their brand, be creative with marketing, and a lot more. If you have not explored this option as of now - get started.