Best E-Commerce Platforms (October 2024) (2024)

• Squarespace: Best Overall E-Commerce Platform
• Square Online: Best for Omnichannel Selling
• Ecwid: Best for Existing Sites
• Shopify: Best for Dropshipping
• Wix: Best Drag-and-Drop Editor
• Weebly: Best Value
• BigCommerce: Best for Boosting Sales
• WooCommerce: Best for Versatility
• Big Cartel: Best for Creatives

An e-commerce platform is a software solution that helps businesses build and run their online stores. This can include everything from hosting to payment processing to website design and beyond. In other words, it’s everything you need to run your store in one place. Examples of e-commerce platforms include Shopify, WooCommerce, Wix and Squarespace.

The best e-commerce platforms will offer a wide variety of features and integrations to choose from, making it easy to build the exact store you need. They will also be easy to use, so you can get your store up and running quickly and without any headaches.

With so many e-commerce platform choices, it’s vital to pay attention to which features matter most to your business. After all, what works for one seller may not work for all sellers. For example, you may only sell seven different things, which means you don’t need software that supports a large inventory.

Or, perhaps you have a brick-and-mortar store but want to branch online—you need a platform with POS capabilities, so inventory automatically syncs no matter where the purchase is made. Aside from necessary features, you should also consider your budget, how easy it is to use, whether you need multichannel selling and if the platform includes an SSL certificate. This certificate is necessary and lets customers know it’s safe to input credit card details when placing an order.

Essential E-Commerce Features

No matter what type of e-commerce platform you choose, there are certain features that all businesses need in order to succeed online. These include:

• Payment processing. The ability to accept payments online is obviously essential for any e-commerce business. All platforms will offer some sort of payment processing, but make sure to check what types of payment they accept. You may need your own payment processor or merchant account.
• Shipping. Shipping is another vital aspect of e-commerce. Make sure the platform you choose offers shipping integrations that fit your business. For example, if you sell large items that require freight shipping, you’ll need a platform that can integrate with freight carriers.
• Inventory management. Keeping track of your inventory is important to ensure you never oversell or run out of stock. Most e-commerce platforms will offer some sort of inventory management, but the level of detail and features will vary from platform to platform.
• Customer management. A good e-commerce platform will also offer some sort of customer management. This can include things such as customer accounts, wishlists, order history and loyalty. This is important to provide a good customer experience and keep track of your customers’ orders.
• Analytics. Analytics are vital to understanding your business and seeing where you can improve. Make sure the platform you choose offers detailed analytics so you can track things such as conversion rate, average order value, customer lifetime value and more.
• Marketing. Marketing is a great way to drive traffic and sales to your store. Make sure the platform you choose offers marketing features such as coupons, abandoned cart emails and social media integrations.
• Product management. Managing your products is important to ensure accuracy and keep things organized. Make sure the platform you choose offers features such as product variants, inventory management, product reviews and more.
• Mobile optimization. Mobile optimization is important to ensure your store looks good and functions properly on mobile devices. Ensure the platform you choose is responsive and mobile-friendly.
• Security. Security is important to protect your customers’ data and ensure your store is safe from fraud. Make sure the platform you choose offers features such as SSL certificates, password protection and PCI compliance.

Types of E-Commerce Platforms: Self-Hosted vs. Cloud-Based

E-commerce platforms fall into two different categories: cloud-based and self-hosted. When self-hosting your e-commerce site, you’re responsible for maintaining your own server. This can be a hassle, but it also gives you more control over things such as security, uptime and scalability.

Cloud-based e-commerce platforms, on the other hand, are hosted by the platform provider. This means you don’t have to worry about things such as server maintenance, but you also have less control over your site.

Self-hosted e-commerce platforms

Cloud-based e-commerce platforms

Limitations and Challenges

E-commerce platforms come with a few limitations and challenges. Here are some things to keep in mind:

Cost: E-commerce platforms can be expensive, especially if you need a lot of features. Research the features you need and compare the cost of the platform to ensure it is a good fit for your business. Some platforms advertise free plans, but these usually have limited features, or they have higher processing fees.

Complexity: E-commerce platforms can be complex to set up and use. Choose a platform that is user-friendly and easy to navigate. Look for things such as 24/7 customer support, clear documentation and a user-friendly interface. You don’t want a platform that is so complex you can’t use it, or one with a support team only available 9-to-5.

Limited customization: Some e-commerce platforms are very limited in terms of customization. If you need a lot of customization, make sure the platform you choose can accommodate your needs. Otherwise, you’ll end up spending a lot of money on workarounds and customizations that could have been avoided with a more flexible platform.

Lack of control: The level of control you have over your website varies between hosted and self-hosted platforms—it all depends on what you need. If having full autonomy is key for you, then make sure the platform choice reflects that before committing to anything.

Additional Considerations

Besides the features and limitations of e-commerce platforms, there are a few other considerations to keep in mind when choosing a platform:

• Size of store: The size of your store will dictate the type of platform you need. If you’re just starting out, a simple platform with basic features will suffice. However, if you have a large or complex store, you’ll need a platform with more powerful features to accommodate your needs.
• Inventory turnover: The frequency of your inventory turnover will also affect the kind of platform you need. If you have a high turnover, you’ll need a platform that can handle a lot of traffic and transactions.
• Payment methods: Make sure the platform you choose can accommodate the payment methods you want to use. Some platforms only work with certain payment providers, so it’s important to check this before committing to a platform.
• Shipping methods: As with payment methods, the shipping methods you want to use should also be compatible with the platform you choose. Otherwise, you’ll need to use a workaround or find a different platform. For example, dropshipping only works with certain platforms.
• Localization: If you want to sell to customers in multiple countries, you’ll need a platform that can accommodate different languages and currencies. Make sure the platform you choose can support your localization needs.
• Omnichannel capabilities: If you want to sell through multiple channels (e.g., in-person, online, mobile, social), make sure the platform you choose can support your omnichannel strategy. Not all platforms offer this capability, so it’s important to check before you commit.
• Scalability: The platform you choose for your business should be one that can grow with you. Ensure that it will be able to accommodate any future needs you may have; otherwise, you’ll only end up having to switch platforms later on. Doing so would cost both money and time.
• Integrations: The platform you choose should be able to integrate with the other software you use, such as your accounting and CRM software. Otherwise, you’ll need to use workarounds or find a different platform.
• Design and customization: The design and customization options offered by a platform can vary greatly. If you need a lot of control over the look and feel of your website, make sure the platform you choose can accommodate your needs. More flexible platforms may require higher upfront costs, but they will save you money in the long run by avoiding workarounds.

The cost of an e-commerce platform can vary greatly depending on the features and functionality you need. Simple platforms with basic features may be as low as around INR 819 $10 per month, while more complex platforms with advanced features can cost $500 around INR 40,967 per month or more. If you’re an enterprise-level business, you’re probably going to spend thousands per month.

These factors can influence the price of your e-commerce platform:

• Number of products: If you have a large inventory, you’ll need a platform that can accommodate it. This will usually cost more than a platform for a smaller inventory.
• Size of store: A platform with more powerful features is necessary for stores that are either large or complex. This will usually cost more than a platform for a smaller store.
• Payment methods: If you want to use multiple payment methods, you’ll need a platform that can support them all. This may cost more than a platform that only supports one payment method.
• Payment processing: If you want to use a platform that processes payments for you, you’ll need to pay a per-transaction fee. This will usually be a percentage of the total transaction amount, plus a fixed fee.
• Search engine optimization (SEO): You’ll usually need to pay a monthly fee if you want to use a platform that optimizes your store for search engines. Some include SEO features in higher-tiered plans, while others make it standard but usually charge a higher base price.
• Web design: A premium platform will usually offer a custom web design service. This can cost hundreds or even thousands of dollars, depending on the size and complexity of your store.
• Migration: If you’re switching from one e-commerce platform to another, some platforms charge based on the complexity of the move. You’ll usually find these fees when you’re moving an enterprise-level store, though many small business platforms charge a nominal fee to move it for you, if they offer the service at all.

To determine the best e-commerce platforms, we considered competitors across the industry and compiled a list of 17 contenders to analyze in-depth. We then compared 13 criteria regarding pricing, features and ease of use to determine the top 10. When narrowing down these choices, we also considered whether platforms have inventory management and multichannel selling capabilities.

Here are the key metrics used to analyze the top e-commerce platforms.

Pricing

Running your e-commerce store shouldn’t cost you more than what you make, so we excluded platforms with exorbitant fees or prohibitive monthly pricing. Similarly, we made sure to pick platforms with great value. Pricing accounts for 20% of our overall score.

Features and Functionality

Standard features help sellers get their stores up and running quickly, while some platforms provide additional options such as POS and advanced reporting. We took a close look at inventory management as well. When a customer places an order, your inventory should drop proportionately without you needing to adjust anything. And, when you add inventory, you should be able to do it all from one screen.

We weighed features and functionality at 40% of the total score.

First-Hand Expertise

It takes first-hand experience to determine the best e-commerce platforms, as factors such as ease of use, customization capabilities and the quality of online selling tools often do not become evident until using the platform. Along with our own first-hand experience, we factored in popularity, stand-out features, value for the money and ease of use to account for 40% of the overall score.

It’s no secret e-commerce has made (or broken) many businesses in recent years, with more and more consumers looking to online websites and storefronts to fulfill shopping needs. The digital world is now flooded with options in nearly every retail market, so staying abreast of e-commerce trends is crucial for any business hoping to excel in any industry.

We’ve compiled some notable e-commerce trends in 2024 to help you and your business leverage your online presence for profit.

Increased Reliance on Online and Mobile

In a study conducted by eMarketer, worldwide retail e-commerce sales reached about $2.3 trillion around 2 lakh cr in 2017, reflecting a 24.8% increase from the previous year. Mobile sales made up $1.4 trillion around 1 lakh cr of this total, equalling 58.9% of these digital sales, an increase of 18.7% from 2015. As consumers are relying more heavily on the digital world in the wake of the COVID-19 pandemic, we expect these figures to continue increasing each year.

The convenient, comfortable and contactless nature of online shopping—whether on a desktop, tablet or mobile device—is here to stay. Online shopping is now easier, friendlier and more accessible than ever. As technologies and algorithms continue to evolve, we expect to see continued growth of most businesses via e-commerce. If your business isn’t yet online or your online presence leaves something to be desired, optimizing your business to meet the demands of today’s shoppers on multiple platforms is key to staying on top of a rapidly evolving market.

Younger Generations

The Millennial Shopping Habits: Trend Report found 80% of consumers aged 25 to 40 report shopping primarily online. Optimizing online sites to the priorities and interests of younger shoppers can help boost sales potential and conversion rates. One easy way to test your site’s appeal is to conduct research around which demographics your site’s design and utility appeal to. Where does your marketing reach? Can you tweak your site design, user experience or take a new path when it comes to social media marketing?

Social Media

Product marketing and shoppable ads have seamlessly integrated into nearly all social media platforms, including Facebook, Twitter, TikTok and Instagram. Around 68% of users report making purchases through a social media platform and almost all intend to make such a purchase within the next year. Building a social media presence for your business and effectively marketing your products on these sites will help you reach these consumers and increase your potential sales. If you’re already on social media, is what you’re doing working? If not, it might be time to try something else.

Environmental Concerns, Sustainability and Business Values

People around the globe have become more environmentally conscious than ever before. An increased willingness to support companies prioritizing sustainable practices means a consumer base ready to endorse and uphold positive business values. Carbon neutrality, fair trade, sustainable and local sourcing, positive company culture and other pro-environment, pro-social responsibility movements have all gained steam. Companies practicing thoughtful environmental stewardship are seeing increased interest and business when compared to their competition.

A study performed by First Insight found consumers of all ages are expecting companies to uphold more sustainable practices. Transitioning your company to a greener business model and aligning the values of the company with today’s consumers will increase sales potential and help you form a loyal customer base. One way to show you’re holding your company accountable is to apply for B-Corp status and pursue other certifications relevant to your industry such as organic certification, free trade certification and more.

Visual Commerce and Video

As the world of e-commerce evolves, the importance of providing engaging product representation only grows. Static photos of products aren’t enough anymore. Before committing to a purchase, consumers increasingly seem to want to explore a product in-depth. Providing videos, reviews and interactive content about a product can make it more marketable in the online world.

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