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Highlights of the PayTrail Ecommerce Report 2020

PayTrail has released its new annual eCommerce platform report. For this short article I've put together a few things especially our customers in mind. A total of 508 online merchants responded to the PayTrail survey.

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PayTrail has released its new annual eCommerce platform report. For this short article I’ve put together a few things especially our customers in mind. A total of 508 online merchants responded to the PayTrail survey.

Popular eCommerce platforms

The favorite eCommerce platform for experienced e-merchants in 2020 was WooCommerce, which we also use for most of our customers’ online stores. What makes WooCommerce as especially good platform is its customization capabilities. It’s suitable for almost any online store, but requires more work in the set-up phase than many other platforms. The popularity of WooCommerce is reflected in the fact that more than 45% of novice merchants consider WooCommerce as their own online store platform. However, an initial investment is usually worth it if you plan to develop your trade. After WooCommerce, merchants’ favorites included MyCashflow, Clover Shop, Magento and Shopify.

Who creates the online store?

An interesting pick from the responses was that up to 81% say they do business with an outside partner. In my opinion, this indicates that there is a desire to invest more in stores and to implement them more professionally than perhaps before. It is natural, then, that as competition intensifies and new online retailers enter the market, it doesn’t make sense to create mediocre online stores, if you want to succeed in a competitive market. In a highly competitive environment, there may not be room for “do-it-yourself and save money” solutions and you want the store to be functional and showy right away in the release. That’s smart.

Product selection

New online retailers were basically setting up stores with a smaller product range than more experienced retailers. So it often makes sense to look for and narrow down your own target group to sell to in the early stages of a trade while avoiding the problems that too much inventory brings. The store’s selection can be increased as the store begins grow.

Platform switchers

The switch of their e-commerce platform is mostly planned by retailers with a turnover of more than 500,000 euros. And half of those considering switching platforms have a turnover over one million euros. I would guess a large proportion of those considering switching have started their operations with a suitable and fast platform solution for small quantities of products. WooCommerce is a very nice platform because it grows wonderfully with the merchant and is also very suitable for large merchants.

Here are some of the most popular e-commerce platforms:

WooCommerce 19%
MyCashflow 13%
Clover Shop 10%
Magento 7%
Shopify 6.5%

Ps. In Finland, Ecwid which is still quite unknown (1.5% share) is one of my personal recommendations for an e-commerce platform if the product volume is not too high and you want your e-commerce to be set up as quickly as possible, which is very easy to manage and accepts certain trade-offs. We wrote our own blog post about Ecwid. You can read it from this link.

You can read more about different ecommerce platforms here.

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