5 E-commerce platforms for your business

As online shopping continues to soar, an increased number of businesses are beginning to sell their goods and services via the internet using eCommerce platforms.

However, with so many online eCommerce platforms to choose from, it can be difficult to know which is best suited to you and your business.

This blog will compare five eCommerce platforms and explain which is best depending on your business needs and requirements.

What is an eCommerce platform?

An eCommerce platform is software that allows a range of businesses to trade goods and services online. Using eCommerce platforms, online sellers can manage and customise their business and display products available for purchase.

Key components of an eCommerce platform include a search feature that allows customers to make specific product searches, an online cart where customers can manage and view their orders, and an online payment feature.

Each eCommerce platform has a USP (unique selling point) which means that some online selling platforms will be more suited to your business needs and requirements than others.

In some cases, businesses may be well suited to more than one platform, in which case they may be able to utilise multiple platforms to reach the largest target market possible. When trading on more than one eCommerce platform, Xero Tracking can help you break down clear reports by platform so you can see accurate trading stats.

How to choose an e-commerce platform

Choosing the right e-commerce platform is crucial to ensure the success of your online business. To arrive at the right decision, there are several factors to consider when selecting an e-commerce platform.

These factors include assessing your business requirements, needs, and goals. It is important you choose an e-commerce platform that can scale with your business and integrate with existing software solutions.

Additionally, you should consider the security and compliance of an e-commerce platform to protect your customers and your own sensitive information.

When researching the different types of e-commerce platforms be sure to also evaluate cost and pricing, customer support, customisation tools, and ease of use.

Shopify

For who: For small businesses building an online store.

For what: Physical products, handmade products, event tickets, digital gift cards, service appointments, memberships, and consultations.

Price: From £25 per month

With Shopify, eCommerce businesses can sell directly through their website, social media, and third-party marketplaces for all-in-one convenience. Using Shopify’s mobile app, store owners can manage their business online, track real-time sales, inventory updates, and users average length of stay.

A quick onboarding process, customisable store themes, built-in business tools, and a reliable site make Shopify an appealing choice for small businesses who wish to build an online store presence. Find out how to set up Shopify, here.

eBay

For who: Individual sellers and small businesses.

For what: Items bought for business resale and orders made for business sales.

Price: From £90 per month

eBay is a popular eCommerce platform for both personal and business sellers. Business sellers have access to one of the world’s largest online marketplaces and a loyal community of experienced sellers and support.

On eBay, sellers are provided with a range of tools to run a business in one place. Inventory management, order management, research, shop insights, marketing tools, brand-building tools, and access to the eBay seller app are all available for sellers with a business account.

Etsy

For who: Independent sellers, crafters, artists, collectors, jewellery makers, vintage clothes sellers.

For what: Unique goods, personalised products, digital products, handmade items, vintage items, and craft supplies.

Price: 0.20 USD (or equivalent) listing fee. 6.5 per cent transaction fee per sale. 10 USD (or equivalent) optional Etsy Plus subscription.

Etsy is a great way for independent sellers and craft makers to target a unique audience online.  Ideal for businesses that are new to selling and without an existing customer base, Etsy shows products to customers requesting a similar search.

Using Etsy, sellers can add products and customers can purchase through the Etsy website. With an optional monthly subscription, small-scale businesses can benefit from no monthly contractual fees and a pay-per-cale scheme.

Amazon Marketplace

For who: Professional sellers.

For what: Clothing, beauty, electronics, baby, retail, pet, garden, outdoors, books.

Price: 0.75 GBP per sale. 25 GBP (excl VAT) per month professional plan subscription. Plus additional selling fees.

As a professional plan seller on Amazon Marketplace, online business sellers can create listings in bulk, get access to on-site advertising tools, run store promotions, and add multiple business managers to an account.

Small, medium and large businesses can integrate within the Amazon Marketplace and begin to grow with the reach of hundreds of millions of customers who visit Amazon’s stores each day.

WooCommerce

For who: WordPress users

For what: Physical products, virtual downloads, online auctions, subscriptions, digital products.

Price: 1.4 per cent plus 0.20 GBP per sale from European credit or debit cards. 3.4 per cent plus 0.20 GBP per sale from non-European issued cards. 2 per cent per sale currency conversion.

Using WooCommerce, an extension of the blogging platform WordPress, those who wish to sell online can quickly build and launch customised mobile-friendly stores that can connect with eCommerce advertising platforms such as Google Ads, Facebook, and TikTok.

Existing WordPress users can benefit from boosted SEO stores and a variety of marketing plug-in tools that allow store owners to add products, manage orders, and view analytics. Businesses should remember WooCommerce is a self-hosted eCommerce platform which means you are responsible for the build, hosting, and storage of your business data.

What is the best e-commerce platform?

As you have just discovered, every e-commerce platform offers a unique range of advantages and benefits. The best e-commerce platform depends for your e-commerce store depends on your business needs and requirements.

What works for one business may not work as well for another and that is why it is important to research different of e-commerce platforms to find the one that best suits you!

Whether you’re a small or enterprise business there are bound to be many e-commerce platforms that meet your needs and requirements but to find the best one, researching each is the best place to start.

Get in touch

Setting up and running an eCommerce business is an exciting venture, but it is important to know all your business accounting needs are also being taken is being taken care of.

At Unicorn Accounting we are a team of experienced eCommerce accountants who can help keep your eCommerce business accounts in order. For more information, get in touch today.

Why choose Unicorn Accounting?

Ensure you keep on top of your finances and tax obligations by outsourcing to an accountant. This means that you don’t need to worry about your end of year accounts, payroll, or bookkeeping requirements.

At Unicorn Accounting we are e-commerce accountants who help make your online business a growing success. We offer e-commerce accounting advice, financial management, bookkeeping, cash flow statement, and tax filing services to support and scale your business.

Our team of accountants and Xero-certified advisors have experience working with both small start-ups and family-run online stores to large-scale, international retail and e-commerce brands.

If you’ve got an online store, we have the best solution for you. Providing you with a financial arm to your business through our sector experience, and skills with innovative technologies. To see how we can help you maximise the scalability of your e-commerce brand all year round, get in touch with Unicorn Accounting today. Or click here to get a free quote.

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