Foreign eCommerce platforms expand market

You can foun additiona information about ai customer service and artificial intelligence and NLP. This certificate is necessary and lets customers know it’s safe to input credit card details when placing an order. Weebly is the best e-commerce platform for small businesses that are just getting started with a website and want an affordable and ultra-easy way of building an online store. Facing fierce competition, many local businesses have dissolved, and numerous vendors have exited the e-commerce space.

All of the services in this guide have some sort of functionality that lends itself well to business-to-business (B2B) selling. However, larger companies may want to look into enterprise-level platforms if they sell to other businesses in large monthly volumes. 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 e-commerce race in Vietnam has essentially become a “money-burning” contest to capture market share. The winner must have substantial financial resources to endure until rivals falter. Quick commerce, which saw significant traction in 2023, contributed approximately 8 per cent to overall e-commerce growth, up from 5 per cent last year. Smartphones emerged as the top-selling category, with online sales accounting for almost 65 per cent of all smartphone purchases during the festive season. You can download a pre-built theme and then customise the code, which is the fastest option, but you’ll likely end up with some performance overheads as a result of code redundancy.

Although Vo So has not officially exited the competition, its website is no longer accessible. Cuong pointed out that even major Vietnamese corporations may struggle to support these e-commerce platforms sustainably. A good e-commerce platform will also offer some sort of customer management.

It’s named this because it’s meant for existing websites (such as a WordPress blog). Using HTML, you add Ecwid’s code to your site, and you have a fully functional e-commerce store to showcase your products, all without having to create a new site. There are three other plans, priced at $7 CAD, $132 CAD and $517 CAD per month. The more expensive the plan, the lower your transaction fees and credit card processing fees.Additionally, these plans have an even larger discount on shipping.

It’s not only very intuitive and easy to use with tons of high-quality online store templates to choose from for free, but it also offers feature-rich plans that help make selling online easier. For example, plans come with the ability to sell unlimited products, abandoned cart recovery and recurring payments. 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.

Roundup: Türkiye expects record e-commerce sales from upcoming shopping spree

However, it is one of the most customizable and therefore versatile CMS on the market. It will also require you to purchase a domain name, an SSL certificate and web hosting separately and many businesses opt for a premium theme in order to build a great online store with fewer design customizations. Shopify is one of the best e-commerce platforms for its advanced feature set designed for selling online.

We analyzed 17 of the leading e-commerce platforms on the market to find the overall 10 best. Our ratings consider factors such as transparent pricing, types of payment methods accepted, integration compatibility, access to customer support and ratings. B2B e-commerce is the process of businesses selling products or services to other businesses online. This can include platforms such as Shopify that allow for B2B selling, as well as transaction-based marketplaces such as Alibaba. The best e-commerce platform is the one that’s best for your business, which may not be the same as what’s best for other businesses.

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. 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 $10 USD ($13.64 CAD) per month, while more complex platforms with advanced features can cost $500 USD ($682.16 CAD) per month or more. If you’re an enterprise-level business, you’re probably going to spend thousands per month. List products and take payments via PayPal, credit card, Apple Pay or Google Pay. While GoDaddy does offer a free plan, you need an e-commerce plan to list any products.

Pricing

The European Union’s executive arm is basing its action on “strong suspicions” of violations of the European regulation on digital services, better known as the DSA (Digital Services Act). With someone like this on the team, you avoid having to constantly outsource every technical tweak, which can save you a lot of time and money. Below, 16 leading experts from Forbes Business Development Council each offer one e-commerce tool or service that has helped their companies improve the customer experience. They also share why other brand leaders may want to consider their recommended solutions. The CEO of iViet Solution suggests that Vietnamese businesses should target niche markets, focusing on products that are genuine strengths of Vietnam.

A common reason is that the site was not able to generate enough traffic to sustain itself. Other reasons can include a lack of features or functionality, poor customer service or a lack of focus on marketing and SEO. 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.

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. 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. The ability to accept payments online is obviously essential for any e-commerce business.

It includes up to two staff accounts, shipping discounts, POS access (via Shopify POS Lite, which works fine for small events) and abandoned cart recovery. The hybrid model is especially valuable for creating a feedback loop between your in-house team and external resources, which leads to better work over time. And because you’re keeping the strategic components in-house, you maintain control of the overall direction, reducing long-term costs and ensuring better consistency across your brand’s touchpoints. Cuong believes that “money talks” in the e-commerce world, making it a race dominated by international giants, while Vietnamese companies have limited opportunities due to insufficient financial resources.

The middle level is all about “Blocks.” A block is like a heading, an image, or a bit of text — anything you’d want to insert inside a Section. These too can be added, removed, reordered, and edited without code (again, if the theme allows for it). However, the opportunities for Vietnamese businesses to grow stronger are immense particularly when they harness the power of global ChatGPT App eCommerce channels. Metric business director Pham Bao Trung suggested that domestic sellers should focus on optimising internal capacities and promoting local specialities to adapt and thrive. Meanwhile, BigX chief executive officer Nguyen Van Vung, a service partner of TikTok Shop, remained optimistic, stating that the market still has significant growth potential.

So affordable, it offers free plans that very uniquely allow you to connect your own domain name and sell up to five products. It’s geared towards online sellers in the creative industries, but any online seller can use it to easily and affordably build an online store to sell products. Ecwid is a top-choice e-commerce platform because it has no transaction fees (aside from standard credit card processing fees), and it offers a free plan. What might sound like an unusual name for a company is just a portmanteau—it stands for e-commerce widget.

• Also, Shopify’s new Managed Markets feature provides a Merchant of Record powered by Global-e, but only if you’re in the US (for now).
• As technologies and algorithms continue to evolve, we expect to see continued growth of most businesses via 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.
• Every e-commerce website needs to have this feature enabled by working with their global shipping partners.
• The middle level is all about “Blocks.” A block is like a heading, an image, or a bit of text — anything you’d want to insert inside a Section.

Bluehost is good for small businesses that want to use WordPress and WooCommerce to host their online stores. Zyro is a good platform for sellers who want a money-back guarantee and 24/7 customer support. WooCommerce is the best e-commerce solution for those who are looking to build and manage a highly customizable and versatile online store.

How To Choose the Best E-Commerce Platform

One of the main advantages of Chinese platforms is their ability to offer competitive prices due to low production costs. “With more consumers using online shopping, and others gradually joining the trend, the eCommerce market pie will continue to expand,” Vung added. Kelly is an SMB Editor specializing in starting and marketing new ventures. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. You can use an e-commerce platform such as Shopify or BigCommerce, which provide everything you need to get started.

To be fair, this also applies to Shopify competitors like BigCommerce, but not simpler alternatives like Lemon Squeezy and Paddle, so that’s just something to consider. Despite these challenges, there are significant opportunities for Vietnamese enterprises to leverage the global ecosystem and expand their market presence. International platforms also have a technological advantage, applying innovations like artificial intelligence, big data, and automated logistics systems. Businesses that need an enterprise-level platform with robust personalization capabilities should use Adobe Commerce.

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To find the best platform for your business, consider your budget, the size of your inventory and whether you need features such as POS or multichannel selling. 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.

• This robust growth has drawn not only domestic businesses but also international giants, especially from China.
• This certificate is necessary and lets customers know it’s safe to input credit card details when placing an order.
• Cuong pointed out that even major Vietnamese corporations may struggle to support these e-commerce platforms sustainably.
• “Currently, international shipping to Vietnam is often faster and cheaper than domestic shipping, which makes it hard for us to compete,” he stated.
• The content of this website is the work of over 530 journalists who deliver high-quality, reliable and comprehensive news and innovative online services every day.

Under the DSA, firms can face fines of up to 6 percent of their annual global revenue if the in-depth investigation, which is not bound by any timeline, confirms major infringements. 2 Visions, shows senior leaders how to hit their e-commerce goals and build DTC expertise. First off, your focus should be on hiring people who can contribute in multiple areas. This isn’t just about getting ChatGPT more bang for your buck, it’s about survival in the early stages when cash is tight and you want doers who can adapt and handle different responsibilities. Yates Jarvis, Principal of 2 Visions, shows senior leaders how to hit their e-commerce goals and build DTC expertise. Although 95,000 new sellers joined Tiktok Shop, the total number of sellers dropped by about 10,000,” Cuong cited.

For example, with WooCommerce extensions, you can accept online bookings, sell subscriptions and accept recurring payments. You can choose from a large selection of shipping companies from FedEx to Royal Mail, create a coupon referral program, accept pre-orders, sell online courses and more. Similar to Squarespace and Shopify, building an online store with BigCommerce is considered fairly easy and involves only a small learning curve. Unlike Squarespace, plans do not include a domain name and not all themes are free.

It stands out for its AI functionality through an AI-enabled e-commerce assistant called Sidekick that will intuit many e-commerce needs. It has a comprehensive onboarding process ecommerce chatbot platform to help you make enough to cover your plan cost by the time the three-day trial ends. Top e-commerce platforms make it both easy and affordable to build a successful online store.

Instead of viewing international platforms solely as competitors, local businesses can explore partnerships. Open source e-commerce platforms are those that allow you to access and modify the code for your website. This can be helpful if you want to add custom features or integrations to your site.

deepak singh