Early adoption of the online marketplace model is the key to fulfilling the increasing need for shopping convenience, expanding revenue, and encouraging customer engagement.
Online software helps deliver the right products, meet customer needs, and boost their purchasing experiences. Thus, helping to stay competitive in this digital era.
With the increasing internet penetration, the adoption of eCommerce is continuing to grow. From selling to buying retail goods, everything has changed exceptionally. According to eMarketer, global sales exceeded $5.7 trillion in 2022 and are projected to reach $6.3 trillion in 2024. Furthermore, the number of online users is increasing each day. Such stats represent that businesses need to reinvent their way of promoting products and build a competitive landscape.
Hence, choosing the right eCommerce software that can help build an intuitive digital store, support business objectives, and deliver a cohesive consumer experience is necessary. In this write-up, we cover the importance of eCommerce platforms and the factors to consider when choosing the ideal one. So, let’s dive in.
Importance of an eCommerce Platform
Amidst the rapid boost in emerging technologies and the ever-changing ways customers shop, eCommerce is seeking attention around the globe. It is a backbone for retail enterprises, enabling them to sell products to a broad audience. There is reduced inflation on the services and goods with the eCommerce prominence accompanied by multiple perks like serving multiple niches, a wide selection of products, and cost savings. In the meantime, customers expect a convenient shopping experience.
Below are some compelling reasons to influence the need for an eCommerce platform.
- Global Reach: eCommerce platforms enable businesses to reach customers worldwide and sell their products anytime. Thus, eliminating all geographical barriers.
- 24*7 Available: Businesses benefit from the 24*7 availability as it allows customers to shop conveniently. As a result, it boosts overall business sales.
- Flexibility: eCommerce platforms allow businesses to customize their storefronts, add or remove products, and change their marketing strategies in real time.
Essential Factors to Keep in Mind When Choosing an eCommerce Platform
Now as we have understood the importance, it’s time to figure out an eCommerce marketplace software that fits the specific business needs. Fortunately, many platforms are available, but choosing one could be daunting. To ease the task, determine the specifications you want or assess the options for the below-listed factors.
Explore Functionality Checklist
Handling a digital store can be cumbersome. Hence, it would be best to look for sturdy and seamless software.
Evaluate the eCommerce software for the below-given factors.
- Make sure it is easy to navigate, allows easy inventory management, and enables the listing of products effortlessly.
- The core features must involve product categorization, convenient shipping, and rewards & discounts.
- It is SEO-friendly and has in-built marketing tools like CMS, social sharing buttons, and on-page optimization features to enhance your store’s rankings on the SERPs.
- It provides support features like FAQ links and makes it easy to connect via multiple channels such as emails or live chat.
Third-Party API Integrations
Looking for plugins and API integration support helps evaluate whether the software suits your online business setup. Understand your business needs and then assess the required features and functionality. The best eCommerce platforms facilitate pre-integrated APIs. Therefore, the eCommerce marketplace software that you select must allow the integration of some important APIs like
- Mailchimp: It is a marketing platform to stay connected and engaged with customers via emails.
- PayPal: Helps ease and secure the online payment process, showcasing relevant options to the users.
- ShipStation: Assists with efficient product shipping management.
eCommerce Platform Security
Digital storefront owners can not overlook the significance of platform security. It is not only about complying with rules and regulations. It is vital to save your valuable business asset from any security breaches.
While all the platforms consider strict security policies, you must look for additional measures. Determine which technology is used to design the platform. Look if it is SSL and PCI compliant for secure connectivity. Moreover, check for other security options like secure data backups and fraud protection.
You can choose Yo!Kart a highly secure eCommerce software designed on LAMP technology to secure the store from any security threats. It restricts SQL injections, CSFR, and XSS. Thus, preventing code hacking and unauthorized access to sensitive information.
Offers Multiple Payment Gateways
Choosing an eCommerce software offering multiple payment gateways is a huge plus. It provides flexibility to the customers to choose a suitable payment option. Such flexibility increases the likelihood of them completing their purchases. The risk of payment failure reduces, which results in lower cart abandonment rates—ultimately delivering a seamless checkout experience and expanding the eCommerce store’s overall conversions.
User Experience is Vital
Undoubtedly, appealing aesthetics are pivotal for any online marketplace. Consumers prefer to browse digital stores or sites that offer top-notch usability, easy navigation, mobile-friendliness, and other similar functionalities. Furthermore, when you take the pain to design a satisfying marketplace for the business and the customers, the growth opportunities are more likely to expand.
- Look for a digital platform with separate panels for buyers, sellers, and admin for easy access to information.
- The layout must be well-designed and clean for better navigation.
- The design must be responsive, enabling easy customization and catering to consumers on multiple devices.
Conclusion
No online marketplace is complete without a digital storefront. There is already a huge count of online stores overruling each other regarding extensive capabilities. So, remember, no one-size-fits-all approach would work. For choosing the ideal eCommerce marketplace software, you must look for the features and functionalities to ensure it fits your business objectives and budget.
In brief, remember these considerations to select the ideal software to build your online store.
- It must help with better navigation, convenience, and quality.
- Allows third-party API integrations to enable easy shipping management, market business on multiple platforms, and offer exceptional customer service. Thus, improving ROI as a whole.
- Design and user experience are vital.
- Core eCommerce functionalities.
Once you overview the platforms and compare their pros and cons, it is time to build your online marketplace. You can choose Yo!Kart is your go-to solution. The self-hosted software controls multiple aspects like UI/UX design, functionality, API integration, and online marketplace security.
