Nearly 50 Percent of Online Retailers Will Switch Their eCommerce Platform Within Two Years; Industry-Wide Survey by Venda and The e-Tailing Group Reveals Major Shift in Online Retail Technology
NEW YORK — Venda, Inc., the leading provider of customizable on-demand global eCommerce solutions, announced compelling findings from a top-line eCommerce technology survey. Based on an industry-wide survey with more than 160 participating retailers, the company gleaned valuable insights into key eCommerce trends for online merchants.
Key findings include:
–48 percent of merchants are looking to swap out their existing platform within two years.
–40 percent of retailers spend more than $1M per year on eCommerce technology and operations.
–39 percent of retailers believe they have received good value in their current systems and 36 percent indicate a “mixed bag”.
–Features and functions, reliability and cost were the most important factors in selecting an eCommerce platform.
–55 percent of respondents reveal that support for a second brand on the same platform factors into the selection process.
In its survey, Venda (www.venda.com) discovered that 82 percent of retailers use home grown or ‘buy-and-build’ technology, but that 51 percent of these retailers experienced some degree of dissatisfaction and only 29 percent of retailers said they were very likely to use the same eCommerce solution again. Additionally, only 29 percent of respondents believe their internal IT resources are ‘completely up to the task’ of operating the current eCommerce platform. This identifies a great opportunity for merchants to leverage managed eCommerce solutions that have fully-featured, reliable and affordable offerings.
“Our company was founded on the premise that eCommerce implementations don’t need to be expensive, long and painful,” said Jeffrey Max, CEO of Venda, Inc. “We knew that a new model was in demand, but this survey indicates a significant level of dissatisfaction and need for change in the market’s current offerings. Retailers may want the bells and whistles, but they also don’t want the high variable costs, complications and risks that come with building them or supporting an inflexible system. This survey and our conversations with hundreds of online retailers confirm that our pioneering approach is right on track. Venda’s unique business model allows us to deliver the best combination of functionality, reliability, flexibility and outsourced expertise and support at an affordable fixed rate.”
About Venda, Inc.
Venda delivers customized on-demand eCommerce to some of the world’s leading retailers and manufacturers, including Virgin Megastore, Panasonic, Universal Group, Tommy Hilfiger, Ted Baker and Xerox. The Company’s complete eCommerce platform combines flexibility, reliability and scalability with the operating advantages of an outsourced service. Multi-lingual and multi-currency capable, Venda’s B2B, B2C and B2E solutions provide “best of the web” capabilities to mid-tier and Fortune 1000 companies. Venda allows customers to reduce the risk, complexity and cost associated with eCommerce, while empowering business users and delivering unprecedented ROI. With offices in New York, London and Bangkok, the Company is managed by a team of eCommerce veterans with more than 20 years of experience in online businesses.
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