Selling your products online, through a third-party e-commerce platform or your own online store, is a fantastic way to reach new customers and grow your business. The e-commerce world is booming, with the market set to grow steadily and reach $7391 billion by 2025 – and small businesses can really capitalise on this.
When it comes to setting up online stores, businesses can either build their own e-commerce sites or choose existing platforms to sell their products. For smaller businesses who might not have the extensive resources needed to build (and maintain) a whole e-commerce platform from scratch, e-commerce platforms like Shopify and Magento offer flexible and easy solutions to selling online.
There are, however, a lot of platforms to choose from. It can be difficult to know which one’s best for your business. Your choice of e-commerce platform is a hugely important decision that affects your costs and business capabilities, and requires a lot of research and consideration.
We’re going to look at some of the main e-commerce platforms on the market and provide an impartial review of each, so you can make the best decision for your e-commerce strategy.
Types of e-commerce platforms
There are three main types of e-commerce platforms that providers fall under:
- SaaS (software-as-a-service) platforms
- Open source platforms
- Headless e-commerce platforms
Each of these operate in different ways and offer different features, which we’ll look at in more depth now.
SaaS (software-as-a-service) platforms
This kind of e-commerce platform essentially allows businesses to subscribe to various e-commerce models. SaaS platforms provide the software you need to run your e-commerce activities, including:
- online catalogue of products
- shopping basket
- payment solutions.
Software-as-a-service platforms offer the most low-maintenance and low-effort e-commerce solution – making them a great fit for busy business owners who don’t have the time or resources to build and maintain their own e-commerce sites.
Examples: Shopify, BigCommerce, Squarespace.
SaaS solutions are well-suited to businesses that:
- have fewer resources
- have little or no prior experience in e-commerce
- want to launch their e-commerce store quickly.
Open source platforms
E-commerce platforms are also available in an open source format. This option allows you to modify all aspects of the code of the platform – opening up a world of possibilities in regards to customisation.
Examples: Magento, WooCommerce
Open source platforms are good for businesses who:
- want complete control over their e-commerce store
- are looking for extensive customisation options
- have a lot of technical experience in IT.
It’s important to note that open source platforms are much more expensive to run than other e-commerce options, and require vast technical expertise. Businesses who choose this type of e-commerce platform are responsible for all of the maintenance and compliance requirements of the online store, such as PCI (Payment Card Industry) compliance.
Headless e-commerce platforms
Headless e-commerce providers offer all the foundations and back-end of an e-commerce platform separated from the front end. This means that retailers don’t have to worry about the technical side of things, but can choose their own front end options, including:
- design
- content management systems
- basket options
- payment methods.
Examples: Shopify Plus, Magento Commerce
This option is a great fit for businesses that:
- want to develop an omnichannel approach to their e-commerce strategy
- want to operate multiple stores from the same platform.
The most common choice for small businesses who are new to e-commerce are SaaS e-commerce platforms because they’re easy to use and quick to set up. In this next section, we’re going to look at some of the most popular e-commerce platforms on the internet so you can get a better understanding of their features and benefits.
How do popular e-commerce platforms measure up?
Magento
Magento was one of the first traditional e-commerce platforms and offers a range of flexible options for businesses. It can be expensive and more suited to larger online retailers with bigger product catalogues.
Type of e-commerce platform: Open source or Headless, depending on your choice.
BigCommerce
BigCommerce provides a lot of different packages to suit their clients, including SEO capabilities and WordPress plug-ins if needed.
Type of e-commerce platform: SaaS or Headless, depending on your choice.
Shopify
One of the most well-known e-commerce platforms, Shopify is extremely easy to use and has relatively low costs. A highlight of this platform is how well it integrates with other apps and programs.
Type of e-commerce platform: SaaS or Headless if you opt for Shopify Plus.
Squarespace
Originally a website builder, Squarespace has developed an impressive e-commerce offering that’s great for small businesses and start-ups. Their templates have decent customisation options, so your e-commerce site still feels like your brand.
Type of e-commerce platform: SaaS
Wix
Another e-commerce platform that started as a website builder, Wix is suited to both start-ups and established businesses wanting more flexibility with their e-commerce site.
Type of e-commerce platform: SaaS
Ecwid
Ecwid is a popular e-commerce tool for businesses with existing websites who want to add on e-commerce capabilities. It’s free for businesses with less than 10 products to sell too.
Type of e-commerce platform: More of a widget than a fully-fledged platform.
EKM
For UK-based businesses, EKM offers a comprehensive e-commerce solution that also gives you access to advice, support and a dedicated account manager.
Type of e-commerce platform: SaaS
Prestashop
This e-commerce platform is a popular choice for those selling in multiple markets, with lots of language and scaling options.
Type of e-commerce platform: Open source
WooCommerce
If your website is hosted on WordPress, WooCommerce provides a seamless and easy e-commerce solution. It has great SEO capabilities, which is a good fit for small businesses looking to reach new customers via search engines.
Type of e-commerce platform: Open source
Big Cartel
BigCartel is most commonly used by independent merchants looking to sell small ranges of products who don’t need a fully-fledged website.
Type of e-commerce platform: SaaS
OpenCart
This open source e-commerce platform provides a lot of flexibility and control for businesses. OpenCart is also low-cost, however it can be complex to operate and manage.
Type of e-commerce platform: Open source
Sellfy
Sellfy makes it easy and quick to set up an online store, and you can sell both physical and digital products.
Type of e-commerce platform: SaaS
Choosing the best e-commerce platform for your business
Now you’re familiar with e-commerce providers, it’s time to think about which one would best suit your business. There are a lot of factors to consider when picking the e-commerce platform to launch your online store on, including:
Budget
Although some platforms offer free solutions, it’s likely there will be costs with more comprehensive packages and subscriptions.
Integration capabilities
If you want to link your e-commerce site to social media platforms or other applications, your e-commerce platform choice needs to be able to support that.
Product line
Do you stock a few products or an extensive range? You’ll need to choose a platform that allows you to list all of your products.
Customisation
The degree of control you want over your online store will need to be reflected in your choice of e-commerce platform.