Why 2024 is the right time to execute your enterprise ecommerce platform migration

Should I plan the much-delayed ecommerce migration for my brand in 2024?

Undoubtedly, yes! 

If you have ecommerce replatforming in your plans for 2024, you are not alone! 

To make the most of the ecommerce boom in India and globally, your enterprise ecommerce sales channel must have the right tools in its arsenal.

And if you are currently restricted by a dated or monolithic enterprise ecommerce platform, 2024 should be the year of change for you.

Wonder why?

Have a look at some stats that are shaping up the ecommerce game globally:

• $8.3 trillion is the expected global ecommerce spending by 2025
• $8.148 trillion is the expected international ecommerce revenue by the end of 2026
• 8.55% is the average expected growth every year in the ecommerce market till 2027
• $710 billion is the expected mcommerce retail sales before 2025
• 30% higher lifetime customer value of buyers who shop omnichannel 
• 91% of customers make online purchases using their smartphone

Source: Statista

Matching pace with trending buyer behaviour is the key to navigate the highly competitive ecommerce terrain. As you understand the market trends and your buyer's buying habits, you are better positioned to plan your ecommerce migration and take your business a few notches higher. 

7 reasons why you should go for enterprise ecommerce migration in 2024 

Wondering why 2024 is the right time to migrate your ecommerce platform to an advanced ecommerce solution? Without the right set of tools and features to cope with the demands of your buyers, you might start losing your audience base. 

Here are 7 reasons to convince you to plan your ecommerce replatforming in 2024.

Hyper-personalization can take your brand places

90% of the buyers say personalization is desirable. The 2024 era calls for hyper-personalization as the one-size-fits-all is now an alien concept. Customers come flocking to brands that offer them an extremely personalized buying journey. However, to offer multi-level personalizations on your marketplace, you need tools and features that make it easy for you to cater to the unique needs of your diverse audience group. If your current ecommerce platform does not support easy personalizations, it's time to migrate.

As you migrate your enterprise ecommerce platform to StoreHippo, you can seamlessly create a personalized user journey for your customers. Built on decoupled headless architecture, StoreHippo makes it easy to implement multi-level personalizations on your marketplace. You can offer personalized discounts and coupons to your customers using the powerful inbuilt discount engine from StoreHippo. You can also customize shipping solutions, payment options, website content, etc to offer personalization at all levels of shopping. With StoreHippo’s native multilingual and multi-currency solutions, you can build multilingual websites and enable your customers to also pay in their preferred currencies. As you plan your ecommerce replatforming with StoreHippo, you can also create personalized multistore ecommerce solutions for your customers from different locations, product needs, etc with StoreHippo.

You need to grow vertically and horizontally 

Do you have the means to grow your business vertically and horizontally? It's 2024 and ecommerce growth is all about scaling your business on multiple fronts. If your ecommerce solution restricts your horizontal growth like adding new locations, product lines, sales channels, etc, you need to plan ecommerce migration right away. Without a scalable ecommerce platform, handling the traffic during peak seasons could be challenging. You need solutions that do not require manual intervention and upgrades, thus saving your operational costs.

Migration to the StoreHippo ecommerce platform helps you build a scalable and flexible ecommerce solution. StoreHippo is built on a cloud-native SaaS-based model, that is designed to handle peak load tolerance. When you create an online store with StoreHippo, you can scale your business to millions of users, products, or vendors. By creating a scalable ecommerce platform, you can offer a seamless buying experience to your customers. With the StoreHippo enterprise ecommerce platform, you can grow your business manifold and unlock new growth opportunities.

Building multiple touchpoints is essential for survival 

Modern buyers interact with their brands on multiple channels before placing an order. It has become prudent to engage with your customers on multiple channels and offer them consistent buyer experience on all the sales channels. But how without a strong omnichannel support system at your disposal can you build an omnichannel strategy? To easily strategize product-market mixes for faster growth and to cater to the multi channel selling needs of your enterprise business, you must consider ecommerce replatforming.

When you migrate to the StoreHippo ecommerce solutions, you can easily boost your customer engagement by going omnichannel. Here are a few ways you can use the comprehensive omnichannel solutions by StoreHippo:

• Add new customer touchpoints quickly using the same backend logic and APIs
• Create consistent buyer experiences across multiple channels to boost engagement
• Centrally control all the sales channels
• Get access to rich customer insights from multiple channels 
• Leverage the best-performing channel with channel-specific insights

Agile customizations are the need of the hour 

Given the ever-changing market dynamics and customer demands, enterprise brands have to be flexible enough to accommodate quick customizations. However, you need to look for ecommerce migration if your platform isn’t agile and hinders your customization plans. When it takes ages to plan a simple marketing strategy or to create and implement different types of discounts, offers, or landing pages for your different buyer segments, you know your ecommerce platform is in dire need of replatforming.  

To achieve all your long-term goals and boost the profit margin, you need StoreHippo ecommerce solutions that make it easy to build tailored ecommerce solutions to align with your business. StoreHippo is built on the decoupled headless platform and comes with 300+ built-in enterprise-grade features and tools for diverse business needs. StoreHippo enterprise ecommerce platform enables brands to create multistores for different locations, audiences, or different categories. You can customize your shipping solutions and digital payments, offer multilingual content, personalize the pricing, create different store designs, etc. with StoreHippo.

Hybrid business models pave the way to disruption 

Enterprise brands need to think outside the box to chart an upward growth trajectory in 2024 and beyond. Given the modern market dynamics, you need to be experimental in trying out new disruptive business models that give a competitive edge to your brand. Your business growth plans can be impaired without a versatile enterprise ecommerce platform that supports not only traditional business models but is also designed to handle hybrid business models. By pivoting to the hybrid business models in 2024, you can seamlessly ensure the long-term viability and growth of your business.      

StoreHippo ecommerce platform comes with plug-and-play solutions for B2B, D2C, B2C, B2B2C, hyperlocal ecommerce, marketplace websites, multistore ecommerce networks, etc. StoreHippo offers a fully hosted and managed ecommerce solution with built-in solutions to create disruptive hybrid business models. When you go for ecommerce replatforming with StoreHippo, its inherent flexibility and adaptability makes it is easy to switch to any hybrid business model or combine two or more business models.

Enterprise brands need unique ecommerce ecosystems

To sustain your business in 2024, you need an ecommerce ecosystem that is unique and helps build tailored solutions for the specific needs of your buyers. Composable commerce is the hottest ecommerce trend that focuses on creating a modular, flexible tech infrastructure to easily customize and adapt to the ever changing ecommerce trends. To add new softwares or solutions on your enterprise ecommerce platform, you do not need to make elaborate changes. You can seamlessly integrate with the best solutions/software in your marketplace.

StoreHippo helps enterprise brands to seamlessly add, edit or extend entities and functionality to create personalized customer experiences using its headless solutions. StoreHippo’s MACH architecture also connects all disparate systems and applications and helps brands integrate with the best in breed marketing, accounting, ERP, CRM, logistics and payment providers, analytics tools etc. StoreHippo helps enterprise brands with seamless integrations of their own choice of software to build innovative solutions. If your ecommerce platform does not support composable commerce or seamless integrations, go for ecommerce migration right away.

Business insights and reports can strategize growth

It's 2024, and to seamlessly run your business and have a nuanced understanding of your growth strategies, you need rich data insights into your business. To have an accurate picture of your business growth, you need detailed insights via various reporting tools. A bird’s eye view is necessary to make informed business decisions, drive growth, and optimize your business operations. Suppose your enterprise ecommerce platform fails to integrate with various tools that give you direct visibility into key business metrics, such as sales performance, customer behavior, or inventory levels. In that case, it's just the right time to consider ecommerce migration. 

With StoreHippo, you get access to powerful reporting engines that give you a detailed view of key business metrics like best-selling products, order summaries, top customer sales by location, financial status, shipping status, return status, etc. StoreHippo also enables seamless integration with tools like Google Analytics. When you get access to detailed reports of your business performance, you understand the business dynamics better and make data-driven strategic decisions for your business.

Conclusion

Understanding the needs of your business and looking for signs that scream for ecommerce replatforming. By migrating your business to an advanced ecommerce platform in 2024, you not only maximize your growth opportunities but also save your brand from lagging behind. While ecommerce platform migration can be a daunting task, choosing the next-gen ecommerce solution like StoreHippo makes replatforming a smooth ride for you. 

StoreHippo offers channel migration solutions for Shopify, WooCommerce and Magento that are designed to migrate your entire business to StoreHippo in just a few easy steps. You can easily import your products, orders and customer data to StoreHippo with its exclusive channel migration solutions.

All set for an ecommerce platform migration with StoreHippo? Explore the enterprise solutions and your ecommerce migration options by starting your 14-day free trial now.