With the advent of the development of cutting-edge technology, citizens tend to apply technology to every aspect of human life. And business is no exception. Thus, online business has become an indispensable sector of the global economy. Besides that, the booming of Coronavirus, global citizens tends to change from face-to-face transaction to online transaction. Particularly, it helps customers and sellers to prevent themselves from the potential threat of being infected.
Due to these facts, it is regarded as a golden opportunity for the development of eCommerce. In this article, I illustrate a big picture of the global eCommerce market as well as give out some potential e-Commerce platforms for online businessmen in 2021.
What is an e–Commerce platform?
An e-Commerce platform is a software application enabling store owners to do all tasks when operating an online store on your own. More specifically, it helps customers to control their websites, marketing, sales and operations.
Generally, an e-Commerce platform is a combination of almost needed commerce and business functionalities. These are accounting, order management, inventory management, and customer service. To put it simply, with the support of a functional e-Commerce platform, you can easily fulfill customers’ order regardless of any sales channel, including brick-and-mortar stores. Or you can based on customers’ history in order to publish relevant or personalized deals for loyal customers.
All in all, the appearance of e-Commerce platforms helps you not only in operating your online business efficiently but also strengthening customer relationships. Moreover, the more satisfaction customers can gain, the more profit you can earn.
An global overview of e-Commerce platform market:
The market share of e-Commerce platform in 2020:
Figure 1: The market share of e-Commerce platforms in 2020 in the global market.
Currently, there are a wide range of e-Commerce platforms. In particular, each eCommerce platform offers their customers with a list of distinctive features. Yet, on the other side, each of them also has some problems. Firstly, according to figure 1, the pie-chart indicated the market share of the global eCommerce market in 2020. More specifically, there are ten primary players holding the global eCommerce market. While they occupied about 83 percent of the eCommerce market, other eCommerce platform developers only had more than 16%. WooCommerce is the leader with about 28.12% of market share. It is followed by Squarespace and Shopify, possessing respectively 20.26% and 12.02% of market share.
The number of current websites of key players in eCommerce market:
Figure 2: The chart for the number of current websites in 2020 of top ten players dominating the market.
According to figure 2, it is clear that five e-Commerce platforms possessing more than 100 thousands websites in 2020. These are WooCommerce, Squarespace Online Stores, Shopify, Magento and WixStores. More specifically, there is a striking difference between the top three and the two others. For example, WooCommerce held the leading position in the total number of current websites in 2020, 625,000 websites. Besides that, they are followed by Squarespace Online Stores, Shopify. And compared to Shopify, the figure for Wixstores and Magento is about a half of it.
Ratings for different features:
Ease of use: 3.3/5.
Design & Themes: 4.3/5.
Overall Scores: 4.0/5.
|Squarespace Online Stores||Value: 3.0/5.|
Ease of use: 3.8/5.
Design & Themes: 4.3/5.
Overall Scores: 3.4/5.
Ease of use: 4.9/5.
Design & Themes: 4.0/5.
Overall Scores: 4.2/5.
Ease of use: 2.2/5.
Design & Themes: 3.7/5.
Overall Scores: 3.4/5.
Ease of use: 4.2/5.
Design & Themes: 4.7/5.
Overall Scores: 4.1/5.
Figure 3: The ratings of five different e-Commerce platforms.
As a result, in this article, I will focus on introducing you to WooCommerce, Squarespace, Shopify, Magento and Wix. Overall, these platforms are the top five priority e-Commerce platforms for online businessmen.
The top five of potential e-Commerce platforms for a thriving online business:
At first, Shopify is one of the most outstanding platforms in the e-Commerce market. It helps you to build your own online store without too much technical knowledge. Besides that, you can customize your brand in your own style. Moreover, it also provides a convenient interface for both sellers and customers. I guarantee it is one of the most functional eCommerce platforms. Furthermore, Shopify provides you with a 14-day free trial plan to consider on whether it is suitable for your business objective.
Industries using Shopify the most:
- More than 70 payment gateways.
- More than 2000 integrated apps.
- Build up customer profiles to identify the most potential ones.
- Weak SEO/content marketing tools.
- Highly priced application.
- Not customizing checkouts.
If you are familiar with WordPress, WooCommerce is the most plausible choice for you. In addition, WooCommerce is an e-Commerce platform which is compatible with any WordPress theme. Moreover, like other WordPress plug-in, it is totally free for users to install to their WordPress site. When you download WooCommerce, every eCommerce feature automatically adds to your WordPress’s dashboard. It contains needed eCommerce tools for collecting statistics as well as reporting it to you. Overall, WooCommerce also offers almost functionalities for completing tasks when operating eCommerce.
Industries using WooCommerce the most:
- Mobile-friendly templates.
- Abundant sources of extensions.
- The best self hosted platform.
- Powerful tools for optimizing SEO.
- Require lots of extensions.
- Expensive hosting services.
- Difficulties in troubleshooting.
If you are not interested in coding knowledge, Wix is for you. When you design your online store on Wix, everything you need is just a “Drag and drop movement”. Therefore, the uniqueness of your website only depends on your creativity. In fact, Wix offers you a wide range of magical tools to customize your e-Commerce platform as well as operating your online store. Its impressive templates are suitable for small businesses, restaurants, online stores and artists such as musicians and photographers. Furthermore, Wix is also responsible for web hosting and domain names (both free and paid subscription).
Industries using Wix the most:
- Excellent App Market.
- Fully customizable.
- Not requesting coding knowledge.
- Feature-rich platform.
- Weak upselling tools.
- Difficulties in integrating with Amazon.
- Poor SEO tools.
SquareSpace enables you to design and customize your online sites in some handy steps. Regardless of the fact that you haven’t created a website before, you can generate distinctive online sites. In reality, it is released with the support of a series of stunning layouts templates. Yet, on the other sides, the sources of marketing tools on Squarespace is limited. Thus let’s think about your difficulties if you sell products without a wide range of marketing features. Overall, it is worth trying Squarespace if you are the beginner in customizing e-Commerce platform.
Industries using Squarespace the most:
- Friendly user template layout.
- Flexible payments.
- More than 100 free sophisticated themes.
- Functional blogging feature.
- Limitations in eCommerce integrations.
- No Smartphone support.
- Lack of payment gateways.
If you are looking for a powerful e-Commerce platform, you have to experience Magento. It is developed based on the basis of open-source technology. Thus you can integrate your website with a large number of powerful themes and extensions. It will help you to customize your website as well as operate your online store. In general, Magento is the top priority choice for website developers as well as serious start-ups. Since Magento provides you with every eCommerce needed features to sell products as well as make more money.
Industries using Squarespace the most:
- Open-sources thus fully customizable interface.
- Being comfortable to choose hosting services on your own.
- Compatible with mobile interface.
- A variety of tools for optimizing SEO.
- Require coding knowledge.
- Expensive themes.
- Easily slow down.
Finally, here is my advice for the top five the most potential e-Commerce platforms for you to start an online business in 2021. Hence, I hope you will choose your suitable platform to make a well-off business.
ArrowHiTech is a Vietnamese company being expert in Information Technology and Outsourcing. We focus on advancing solutions for e-Commerce development such as WooCommerce development, Shopify development, Magento development services,..
Besides that, ArrowHiTech also offers customized products for all of these three eCommerce platforms. For instance, we have Magento themes and extensions, Shopify themes and apps. Moreover, ArrowHiTech also develops themes for WooCommerce, a WordPress plug-in. If you have any problem in setting up your online store from scratch, do not hesitate to contact us now!