The move to switch eCommerce platforms is no small feat, but newly published findings suggest that the effort can pay off significantly in terms of sales and revenue. A recent report from commercetools, titled “State of eCommerce: Replatforming and Migration Trends for 2024,” showcases a striking trend: 90% of businesses that made the switch experienced a boost in revenue, and a noteworthy 30% reported increases of 30% or more. These statistics demonstrate not only the advantages of migrating to innovative eCommerce solutions but also the urgent need for businesses to reassess their current platforms.
The survey conducted by commercetools examined high-revenue firms across diverse sectors, including retail, B2B manufacturing, and consumer packaged goods. One of the primary motivations driving most of these businesses to consider a platform switch is dissatisfaction with user experience and scalability limitations. Alarmingly, only 14% of businesses expressed satisfaction with their existing eCommerce solutions, which yields compelling implications for companies lingering on outdated platforms.
Among the key findings, an impressive 94% of organizations that migrated reported enhancements in site performance. User experience, a crucial element for any online operation, emerged as the top priority for 41% of respondents contemplating a switch. What this hints at is a realization within the industry: an improved user experience differentiates a business in a crowded marketplace.
Other important reasons for migration included the desire for increased flexibility and customization features (noted by 38% of respondents) and the implementation of advanced capabilities such as AI-driven recommendations and analytics (also 38%). In today’s competitive landscape, these features are not just luxuries; they are essentials for staying ahead.
The urgency associated with the migration process could also not be clearer: 77% of businesses are targeting a transition within the next year. The frustrations cited by respondents regarding their existing platforms were numerous. The most common issues included:
– Limited scalability (35%)
– Delayed previous implementations (31%)
– Subpar customer support (31%)
– Poor user experience (31%)
– Insufficient advanced functionalities (31%)
These hurdles highlight the dangers of clinging to outdated systems. As competition intensifies, the inability to provide a seamless and customizable shopping experience can have severe repercussions on customer loyalty and, ultimately, revenue.
Additional insights from the report reveal that not only did 90% of migrators note sales and revenue improvements, but 42% also experienced a revenue growth of at least 10%. For businesses that prioritize long-term success, these statistics underscore the importance of timely and strategic platform assessment.
When evaluating a new eCommerce platform, decision-makers primarily focused on three factors: the ability to secure a competitive advantage (67%), the total cost of ownership (56%), and customer satisfaction scores (56%). Given the rapid pace of technological change, it is essential for businesses to remain adaptable and current with the latest trends in eCommerce technologies. This adaptability not only allows businesses to thrive but also helps foster improved customer relationships.
Interestingly, a high level of satisfaction was noted among those who recently migrated, with 92% reporting positive experiences in the migration process. Such figures can provide assurance to those contemplating a similar path. Additionally, composable commerce—a system that utilizes a combination of best-of-breed services—garnered favorable consideration from 83% of respondents, indicating a shift toward modular solutions as preferred eCommerce strategies.
Concerns about data security and integrity are quite common, yet the recent findings revealed that only 36% of potential migrators identified this issue as a significant hurdle. Among businesses that recently transitioned, a mere 3% felt that their data security had been compromised during the migration. This data suggests that, with careful planning and execution, the risks associated with data vulnerabilities can be effectively managed.
In summary, the findings from commercetools underscore an essential truth in today’s eCommerce environment: the agility of businesses to adapt to new platforms can significantly impact their success. Companies that aim to maintain relevancy must recognize the limitations of existing systems and be willing to invest in new, more dynamic eCommerce solutions. Time and again, the data shows that such efforts yield positive returns in revenue and customer satisfaction, proving that a platform switch is not just a logistical decision but a pivotal component of long-term business strategy.