eCommerce in Asian Markets is Booming: Are you Global yet?

In their 2017 report, Gartner evaluates 20 plus digital commerce platforms for effectiveness and vendor strengths. Here’s everything you need to know about this exciting new report that names Magento as a “Leader in Visionary” in their Magic Quadrant for Digital Commerce. This report evaluates across a spectrum of criteria and comes to an important conclusion, “By 2020, companies that are digitally trustworthy will generate 20% more online profit than those that are not.” You can get the complimentary report from Magento here. 

Some other notable findings from the report:

  • By 2020, 25% of leading online sellers will have enabled first-generation “commerce that comes to you” capabilities.

  • By 2020, smart personalization engines used to recognize customer intent will enable digital businesses to increase their profits by up to 15%.

Here are some of the Magento strengths that made Gartner name the eCommerce platform a leader and visionary among 20 plus competitors.

Strengths of the Magento Platform, Via the Report

“Flexibility: With an open-core solution and REST APIs, Magento can be heavily customized (e.g., via in-house development and/or extended via its large and mature extension marketplace). This ecosystem makes Magento appropriate for a wide range of transaction types outside traditional retail or digital sales of physical products. The Magento Marketplace app store holds extensions for many verticals beyond retail. 

Cost-effectiveness: Magento offers a flexible pricing model based on tiers of digital commerce GMV revenue generated through each customer B2C, B2B or B2B2C site(s). This model, coupled with license costs below those of many competitors, makes Magento a cost-effective option. A majority of its reference customers reported high satisfaction with the overall value proposition; all reported extremely high overall satisfaction with both Magento and its digital commerce platform. 

Speed and architectural improvements: Since Enterprise v.2.0 (released in November 2015), Magento has made performance and architectural improvements in subsequent versions. These include separating databases for customer and product data, and check-out improvements that enable companies to manage increasing transaction volumes.”­­ 

Room for Improvement?

Among the cautions that the report named, B2B functionality was one of them. We have developed a suite of Magento 2.1 extensions to expand the B2B functionality of Magento sites with a Request for Quote and Sub-Accounts function. Business-to-business customers will be able to request wholesale quotes on items from accounts with customizable permissions (including order caps), and can order directly from your approved or modified item(s) quote. This functionality is native in the Magento back-end on your specific theme.

For a deeper look into why Magento is named a top dog in digital commerce, we’d love to give you a demo.