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Digital Commerce Keeps Growing
Digital commerce is more relevant than ever before. Digital sales are increasing in almost every industry and every region in the world. In 2020, the global revenue through digital sales will already exceed 4 trillion USD. The market is huge already and yet its potential is far from being exhausted, because as of today, only 22 percent of the global population shops online. With the overall increase of internet penetration and accessibility, even more people will start to buy digitally, which leads to the expectation that digital commerce will reach double-digit net growth around the world. In Europe and the U.S., digital commerce is expected to grow by more than 50 percent until 2024, while China and Rest of World are forecasted to almost double their digital sales in the next 4 years.
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This summary is supposed to provide a snapshot of the overall challenges in digital commerce as well as comprehensive insights into trends, digitization and innovation design. Opportunities, challenges, and solutions of digital commerce are discussed from a business perspective to enable decision makers to assess their e-commerce needs and form an educated understanding of how their digital commerce strategy should look like.
We will explore:
- The Environment we operate in – as well as comprehensive insights into trends, digitization and innovation design.
- Innovation as a key differentiator – within the unique daynamics of each economic sector
- The demands on digital commerce technology – how succeeding in this phase of digital commerce requires commerce technology
- Spryker’s approach to enable successful digital commerce – we go far far beyond the classic shop functionality and modern, flexible technology proven at scale for our customers.
What Differentiates Spryker and Magento?
Just as Spryker, Magento is also one of the top 15 vendors for digital commerce listed in the 2020 Gartner Magic Quadrant. But what are the differences between the two solutions?
Building on all the challenges and opportunities in digital commerce that have been discussed, Spryker is designed to cover all the needs businesses have to satisfy the increasing customer demand. The Marketplace model for example is a proven way to scale online businesses with less financial and technical risks involved. While Magento has a strong focus on B2C features, Spryker offers versatile out-of-the-box features and capabilities for B2C and B2B, as well as a Marketplace Suite and a Unified Commerce Suite.
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