The Symbol of Authority in E-Commerce Business
Online marketing has become popular with most people, triggering the ready availability of e-commerce software everywhere. Online giants like Yahoo! Small Business and Magneto strives to maintain their quarter of the market, nevertheless, no company has the monopoly of this niche. Popular blog plugin, WP e-Commerce is on the rise alongside BigCommerce with solutions for high and low end entrepreneurs.
E-Commerce Market Share on Top Sites
• 22% of the total market share is held by Magneto and Yahoo Stores, while the remaining 78% is shared by other e-commerce platforms.
• 12% of the 22% market share is held by Magneto, this success it achieved in just four years after its launch in 2008. It has overcome the old players like yahoo stores.
• Yahoo controls 10% of the 22% market share. It has turned around its fortunes for the better, settling second place to magneto.
• The remaining 78% is shared by other platforms like VirtueMart (8%), Volusion (8%), ZenCart (8%), Oscommerce (7%) Miva Merchant (7%) Big Commerce (5%) WP E – Commerce (3%) UberCart (3%) Shopify (1%), and lots of others under 3%.
• It is observed from the analysis above that apart from Magneto and Yahoo Stores, no other platform has secured up to 10% market share. Most e-commerce providers control less than 3% market share. Nevertheless, BigCommerce, with 5% market share has recorded success at both ends of the market through the use of interspire shopping cart to secure grounds on the high as well as low ends.
• It is worthy of note that platform age is not a determinant factor since in 4 years, Magneto has dominated Yahoo Stores that has been around for 12 years. This shows that it does not take long for new players to catch up with established players.
Rising Online Store Platforms
WP E – Commerce (+63%) – Through the addition of the WP e – Commerce plugin, high traffic Word Press bloggers take their website to higher grounds. This plugin has made this platform increase by 63% in the last six months.
BigCommerce (+57%) – Through the smart move of combining interspire with cloud hosting, BigCommerce was able to significantly increase its growth.
Magneto (+37%) – The growth of magneto does not come as a surprise as it corresponds to their lead in market share possession.
Volusion (+18%) – Increase with this platform coms as a surprise to many, thanks to aggressive marketing strategies. People believed that the platform would be taken over by ebay, but on the contrary ebay took over magneto.
Úbercart (+15) – Úbercart is an open – source e-commerce shopping cart, popular with websites on Drupal. It gained popularity in ways similar to WP e – commerce.
From the analysis above, it is observed that the fastest growing software solution is WP e-commerce. This plugin allows bloggers to add shopping carts and more to their blog. BigCommerce is the first runner up, while magneto comes in third place.
Top 3 Companies
1. Top on the list is Virtuemart. This is Joomla users’ leading e-commerce solution. Joomla is relatively a newbie to the CMS scene, debuting in 2005.
2. Next is Úbercart, this has been a platform that is focused on the retail shopping space. Its main area of focus is the Drupal community.
3. WP e-commerce offers a user-friendly way for word press users to make sales on their sites. They feature a paid plugin that allows users access to enhanced features.