In recent years, the landscape of eCommerce has rapidly transformed, pushing businesses to reassess their platforms to stay competitive. A new report by commercetools, titled “State of eCommerce: Replatforming and Migration Trends for 2024,” reveals that a staggering 90% of businesses that migrated to a new eCommerce platform saw significant improvements in their revenue and sales figures. Among these, 30% reported sales increases of 30% or more. This data is not just a trend; it represents a crucial shift in how companies engage with their markets, highlighting the importance of choosing the right platform.
The report surveyed high-revenue businesses across sectors such as retail, B2B manufacturing, and consumer packaged goods. A common thread emerged: the urgent need for flexible, scalable platforms that meet the demands of a dynamic market. In fact, 77% of surveyed companies indicated they felt an imminent need to switch platforms within the next year, primarily due to poor user experiences and insufficient scalability. Alarmingly, only 14% expressed satisfaction with their current platform.
Kelly Goetsch, the Chief Strategy Officer at commercetools, emphasizes the importance of user experience. He stated, “The number one buying trigger for eCommerce migrations is the need to create better user experiences.” This sentiment underscores why companies that cling to outdated, monolithic systems may face dire consequences, as these systems often lead to increased challenges, such as higher operating costs and hindered growth.
One of the most compelling reasons to migrate to a new eCommerce platform is improving customer experience. According to the report, 41% of businesses that recently switched identified enhancing customer experience as their primary motivation. Furthermore, 38% sought greater customization and flexibility, while another 38% desired advanced features like AI-driven recommendations and analytics.
The urgency to migrate is palpable, with 77% targeting a platform transition within the next year. Common frustrations cited by respondents included limited scalability (35%), delays in previous implementations (31%), and a lackluster user experience (31%). These issues often culminate in a poor overall customer experience, which can significantly impact sales and brand loyalty.
Statistical insights from the report paint a robust picture of the benefits of migration. Notable findings include that 90% of businesses that migrated experienced increases in sales and revenue, with 42% reporting growth of 10% or more. An overwhelming 94% noted improvements in site performance, while 86% cited enhanced customization capabilities. Additionally, 62% of businesses found their new platforms easier to use, a crucial factor in employee training and overall operational efficiency.
In light of these findings, businesses are prioritizing several key aspects when assessing the success of their new eCommerce platform. Sixty-seven percent of respondents highlighted the platform’s ability to confer a competitive advantage as paramount. Similarly, 56% considered the total cost of ownership and customer satisfaction scores as vital indicators of success.
The migration process seems to be another area of success for these businesses. An impressive 92% of those who switched reported satisfaction or high satisfaction with the migration process itself. Furthermore, 83% of respondents held favorable views on composable commerce, a flexible approach to building eCommerce solutions that allows businesses to integrate various best-of-breed services.
Security remains a paramount concern for many businesses contemplating a platform switch. In the survey, 36% identified data security and integrity as a significant hurdle. However, among those who recently underwent migration, only 3% felt their data was at risk, suggesting that data vulnerabilities are minimal when a migration is executed properly.
The findings from the commercetools report reveal an urgent call to action for businesses considering an eCommerce platform switch. As consumer expectations evolve, companies must adapt or risk losing market share to more agile competitors. With almost nine out of ten businesses reaping the rewards of migration, it’s clear that the right eCommerce platform can be a game-changer in driving sales, enhancing customer satisfaction, and improving overall operational efficiency.
Businesses must not merely consider a switch in terms of immediate benefits. The long-term implications of investing in a new platform—such as cultivating a superior user experience, increasing operational flexibility, and ensuring robust data security—are equally crucial.
As more companies make the necessary adjustments to thrive in today’s competitive landscape, the trend towards migrating to effective, scalable eCommerce platforms is only likely to accelerate.
