The growth of e-commerce platforms has been massive and unprecedented. While it is arguable whether all kinds of businesses can benefit from e-commerce, it is undeniable that most retail businesses are benefiting from the development of e-commerce. And the number just keeps increasing and increasing every year.

E-commerce will hit $7.5 trillion in value by 2025. Retail is benefitting greatly from that growth. Retail businesses offer various products to buyers. Some of the most popular ones include:

• Clothing
• Jewelry
• Home goods
• Small Appliances
• Electronics
• Groceries
• Pharmaceuticals
• Services
• Equipment Rentals
• And so on!

Retail businesses are relatively easier to scale and adapt compared to large companies, which makes them a better fit for e-commerce platforms.

What is an E-commerce Platform?

An e-commerce platform is a software for transactions between the buyer and the seller. A consumer should be able to browse products on an e-commerce platform, add them to their cart, and then check out.

For the users, it helps in being able to manage payments efficiently. It is also known as the content management system (CMS) and commerce engine, and it is used by websites to manage purchases, cataloged products, and customer relationships with online retailers.

One of the major breakthroughs in the e-commerce industry is using retail e-commerce software or e-commerce platforms. The integration of this modern technology has given retail businesses a boost in terms of sales, marketing, and other important departments like inventory management. Some platforms have simple inventory management software that helps businesses with their inventory needs.

For starters, it is important to familiarize yourself with the popular and best e-commerce software.

Some Popular E-commerce Platforms

Let’s look at some of the most popular e-commerce platforms for retail companies and how they can benefit from them.

Shopify

Shopify is a full-service commerce platform that allows you to launch, expand, and run a business. It enables businesses to consolidate transactions onto a single platform with seamless processes.

Shopify is one of the most popular e-commerce platforms for retail. That’s because merchants can use Shopify to create and customize an online store and sell in various places, including web, mobile, in-person, brick-and-mortar locations, and pop-up shops.

Their expertise and commerce leadership stem from the experiences of millions of merchants on their platform. They can forecast and build the right features with the help of their users to not only empower the industry players today, but also to help mold and determine what the industry looks like tomorrow.

Amazon

Another one of the best e-commerce platforms is Amazon. It is a well-known online retailer where you can purchase various new and high-quality used goods, including everything from computers and cars to music and books. To shop on Amazon, you must first register for free.

One of Amazon’s key advantages and features is that its prices are lower than those of high-street retailers. Depending on the service you select, the delivery cost can be kept low or free, which is why more and more retailers are already selling on Amazon.

Customers can add their favorite items to a “wishlist” to purchase them later. Amazon assists users in remembering their previous purchases and wish lists and makes suggestions for additional goods based on their interests. Those who love reading can download electronic books if they enjoy reading e-books.

eBay

Another online marketplace for goods and services is eBay. It is a website where people and organizations can buy or sell new or used goods, including everything from books and clothes to cars and vacations. One of the features that makes it one of the best e-commerce software is that you can sell items on eBay that you no longer need.

eBay stands out because it gives you a choice in how you want to make a purchase. Users can “Buy it now” at the listed price or placing a bid on the item in an online auction. Users can read customer reviews to determine a seller’s dependability for security reasons.

As you choose the best e-commerce software for your retail business, you need to know the benefits of using one. Numerous e-commerce platforms have the best features, but might not be compatible with your company’s needs. CRMs like Pipeliner CRM can be very helpful in fostering greater levels of interaction between users and customers, as well as between users and software. You can check out the Pipeliner CRM reviews and learn more about it.

Benefits of Using E-commerce Platforms

Now let us look at the important benefits of using the best e-commerce platform for retail business.

1. Get More Sales

Sales are not the most important aspect of a business, but they play a crucial role in running and sustaining a business. An e-commerce platform will boost your sales and bring your retail company to the next level. Once you get to use the best e-commerce software for your business, you will be able to bring in sales and revenue like never before.

2. Reach More Customers

One of the major factors in increasing sales and building brand image is the reach or the magnitude of your network. It could be that you have a low turnout in sales because only a handful of potential customers know your products and services. Using e-commerce platforms opens the door to new opportunities and customers.

3. Automate Your Payment Channels

Customer experience is key to growing your retail business. And one of the aspects of customer experience is a convenient payment process. The truth is that there are potential customers who get turned off from buying an item because the process is too complicated or there are too many steps. Using retail e-commerce software avoids this problem.

4. Provide More Information to Buyers

Buyers operate based on trust. This means that when you build trust with your potential buyers, the chances of them purchasing an item or availing of your services increase because they have more information about you. Some information buyers look for are not just the specifics of a product but also legitimate reviews and recommendations.

5. Lower Overhead Costs

The term “overhead costs” describes operating costs for a company that is not directly related to developing or producing a good or service. While it is impossible to eliminate overhead costs, using the best e-commerce platform for retail allows business owners to lessen their overhead costs because they have features that can cover the work of two or more people.

6. Better Customer Service Channels

Customer service always plays a crucial role in converting potential customers into actual customers. It is also important in building brand loyalty. When you use retail e-commerce software, you do not just get to respond or reply to an inquiry, but also engage your customers by being more personal and service-oriented.

7. Provide Cheaper Prices to Customers

The best e-commerce platform for retail can lower overhead costs, shipping fees, and other expenses that can add up to the actual price of your item or service. While lowering the price is a strategy that not all marketers agree with, providing a reasonable price to customers gives them another reason to choose your product over others.

E-commerce Strengthening Retail

E-commerce is one of the biggest blessings to the retail industry. Not only that it helps in managing or running a retail business, but it also helps in growing it. Using e-commerce platforms will surely benefit your retail business in various ways. Always remember that the best e-commerce software does not always have the latest features, but it always has the features that meet your business needs.