eCommerce definition and platforms explained.

COVID19 is causing disruption beyond what many can imagine. No one knows the size of the impact. No one can put a figure. However, the degree of impact is subject to the digital readiness of the business. 

Just like all crises, certain industries boom during such events. Take an example, UBER, AirBnB and many others that surged during global recessions. Necessity is the mother of innovation and eCommerce is one of those disruptive innovations. So, what is “Electronic Commerce” aka e-commerce?

Electronic commerce or e-commerce is a business model that allows firms (large and small) and individuals to buy and sell things over the internet. E-commerce operates across all four of the following major market segments:

• Business to business (B2B)
• Business to consumer (B2C)
• Consumer to consumer (C2C)
• Consumer to business (C2B)

With all new and disrupting technologies, many ecommerce platforms are competing to market share and audience.

In this article, I am trying to highlight the main players in e-commerce globally and the advantages/disadvantages. As a decision maker, this should help you decide the choice of platforms you should evaluate based on your objectives.

By no means is this an extensive research but more of guidelines for your decision making. 

The major ecommerce platforms are:

-         Shopify (globally the largest and most popular ecommerce platform)

-         Magento (a popular marketplace with infinite customization)

-         WooCommerce (an extension of WordPress but not for the serious eCommerce players)

-         BigCommerce (a promising new platform with high level of customization)

In addition, there are other platforms that are being used such as Amazon, eBay, Etsy and others. These platforms are good as a multichannel and can be used as ways to grow your product reach due to the size of their audience. Others such as GoDaddy, Wix, Squarespace, Big Cartel, Volusion are not really recommended.

If you wish to learn more about eCommerce opportunities and to schedule a free consultation, please reach out to info@7awi.com (subject line: eCommerce Consultation).