We have witnessed the unprecedented growth of the digital economy over these past two to three years. The eCommerce industry is growing at an exponential rate. This major transformation was further accelerated due to the outbreak of the Global pandemic in 2021. The increasing internet user base owing to the social distancing norms, repeated lockdowns, and health-related risks, increasingly led to more and more consumers’ dependability on digital platforms for selling and buying things. In a market overview by IMARC, it was stated that the global eCommerce market value has reached a value of USD 13 trillion in 2021 and is further predicted to reach USD 55.6 trillion in 2027.
E-commerce Market Growth and Future Prediction
Forbes reports states that “E-Commerce sales were $870 billion in the US in 2021, a 14.2% increase over 2020 and a 50.5% increase over 2019. E-Commerce represented 13.2% of all retail sales in 2021 in the US.”
Other reports indicative of e-commerce global market growth includes mordor intelligence statement that “During the forecast period (2021 – 2026), the Commerce Cloud Market is expected to grow by approximately 23%. Growth in the E-commerce industry coupled with significant adoption of Cloud Computing across industries will facilitate the global adoption of Commerce Clouds.”
According to Statista reports, In India, the eCommerce market was valued at USD 22 billion in 2018, and the amount is estimated to reach USD 200 billion by 2027. The report further stated that in “a survey conducted in May 2020 about permitting e-commerce platforms to deliver goods in India after coronavirus lockdown, the majority of respondents voted in favor.”
Brazil ranks the top in terms of retail eCommerce growth with a compound annual growth rate of 20.73 percent between 2022 and 2025.
The global retail e-commerce CAGR during the same period was 11.35 percent.
The value of e-commerce sales in retail amounted to approximately 4.9 trillion U.S. dollars in 2021. It is expected to reach 7.4 trillion dollars by 2025, an increase of 50 percent over the next four years.
“In 2020, over two billion people purchased goods or services online, and during the same year, e-retail sales surpassed 4.2 trillion U.S. dollars worldwide.”
Even after entering the ‘endemic’ phase after a 2-year-long hiatus caused by the pandemic, and despite the gradual opening of everything around us, digital platforms continue to thrive not only as a solution but also as a convenience. The numbers show how fast the eCommerce market is growing due to the ever-growing interest of users in indulging in online shopping. However, small business owners still face challenges due to being bootstrapped and having limited resources.
That’s where the Salesforce Commerce Cloud comes in. No matter the size of your business, the Salesforce Commerce Cloud is a powerful eCommerce platform that can help your business deliver a cohesive and personalized commerce experience through its powerful features.
In this series of our blog posts, we will explore 9 incredible benefits of how Salesforce Commerce Cloud can help your eCommerce businesses grow and facilitate enhanced shopping experiences for your consumers. But, before we get to the benefits, let’s define the Salesforce commerce cloud.
What is Salesforce Commerce Cloud?
Salesforce Commerce Cloud, previously called Demandware, is a cloud-based eCommerce platform that offers various benefits for eCommerce businesses. It is a user-friendly eCommerce platform designed with a purpose to deliver seamless solutions that help businesses grow as a brand, and build business opportunities that generate better sales, and convert more customers in the most efficient way. It is the most suitable choice for every business aiming for growth and looking to offer its customers extraordinary buying experiences through different channels. The platform features benefits like connecting B2C customers. B2B customers can take advantage of seamless, self-service experiences that can be formulated with Artificial Intelligence (AI).
Salesforce Commerce Cloud or SFCC is a multitenant platform that delivers amazing customers both in-store and online. SFCC offers smart commerce solutions designed to enhance customers’ buying experiences and make your business thrive digitally.
Salesforce Commerce Cloud (SFCC) – What Do You Get?
A power-packed platform with all the right tools! Using which will help you create a functional and fully responsive website, frameworks for your mobile apps, and other proactive features to establish your online business. With the help of SFCC, you can expand your target audience and make your brand presence on various social platforms. In addition to all of this, you can also optimize search as well as mobile payment, and build an app for your brand to improve customer experience.
A ‘Storefront Reference Architecture’
SFCC with its advanced framework enables you to build a highly professional website for the brand in little to no time. There are value-added integrations and features for customizations to update your website as well as pre-designed frameworks that you can choose from.
SFCC’s Commerce Cloud Endless Aisle
SFCC enables you to personalize customer experiences and provide access to customer databases and online inventory information. You may choose to give individualized customer experiences. Your consumers will be able to establish a list with their selected items using this method. Walk-in sales might also be reduced by promoting special offers in your online business.
SFCC helps you to automate the payment process, manage refunds and cancellations, and streamline the process of fulfilling and shipping customers’ orders around the globe.
Building Customer-Vendor Relationship
By engaging and supporting your customers with reward programs, it can help you build a long-term relationship with them. You can supply your consumers with pertinent learning materials at every stage of their buying trip since you can track their behavior metrics using SFCC. You can also use communities, newsletters, and social media to send relevant material and brand updates to your customers.
- A Suitable Tool for Commerce
No coding skills are necessary to build eCommerce websites using Salesforce commerce cloud’s (SFCC’s) templates, developer tools, and commerce APIs. You may also integrate your commerce data across all digital channels and obtain data-driven insights into consumer experiences all in one place.
Why Should You Choose Salesforce Commerce Cloud (SFCC) for eCommerce Business?
9 SFCC Benefits to Lookout For
SFCC assists you with better order management of online store, and point of sale through mobile applications. It’s a multi-occupant design that significantly improves the platform’s safety and reliability. With all of the changes in consumer buying habits and technology, this Online and in – store approach gives a vendor greater control over the entire sales process, from discovery to payments, statistics, customer support, interpersonal communication, and independence and social.
Here are 9 More Ways SFCC can Transform Your Business Online,
A ‘Storefront Reference Architecture’ in Salesforce Commerce Cloud helps you create a professional eCommerce website easily with pre-designed frameworks for your website. This feature is what you need to give your brand website a competitive edge. Another useful feature of SFCC is that it doesn’t require you or your team to have extensive knowledge in coding to create a professional eCommerce website, because SFCC offers built-in templates, APIs for commerce as well as developer tools.
Unifying Shopping Experiences
With SFCC, you get access to a dashboard where you get all information related to the back-end like product details, customer experience, and a comprehensive view of order histories. Even if you are just starting out and have a handful of customers, it is not always possible to remember every detail to deliver superior service, and that is when a proactive customer care center is helpful.
With SFCC’s customer care assistance, you get the insights you need about your digital store and your customers to enhance your business’s online presence.
The power of AI technology
For any organization, analyzing data is of vital importance for decision-making. It is especially helpful to verify company data to spot any inconsistencies. Analyzing and applying data effectively can’t always be relied on manual ways if you are running a small-scale business. With the Salesforce Commerce Cloud’s powerful Einstein AI, you get the advantage of validating data with Artificial Intelligence technology that isn’t common among other platforms. By doing so, you will have an AI advantage for better decision-making.
A Highly Scalable Platform
It will prove to be a long-term benefit to choose a platform that would be able to handle your business as it grows. SFCC is a highly scalable platform that will be able to support your business’s future operations. It offers unique tools and benefits related to business operation services that are specially designed to handle sudden spikes in online traffic without the need for any prior planning. Salesforce Commerce Cloud’s integrations suitable for eCommerce platforms enable it to adapt as well as scale in accordance with your businesses’ changing requirements.
The Perfect Ally for Marketing
No matter which tool you use for marketing, or use Google Analytics to track user data, With SFCC you would be able to manage all the data in one centralized place. This has enabled better customer insights, team collaboration, and efficiency.
By integrating Salesforce Commerce Cloud, you can easily launch campaigns, run offers or promo codes, and run A/B tests to measure conversion. Users can leverage the platform’s advanced content management features to create, and curate content as well as easily deliver content based on requirements.
It is estimated that 73% of online traffic is generated through mobiles, and as much as 55% of purchases are made over the mobile. Ensuring your online store is user-friendly and optimized for mobile applications is a must for user convenience. A ‘mobile-first approach’ by Salesforce Commerce Cloud follows enables end-users to have a seamless mobile experience. What’s more, with only a few clicks you can easily access and manage your inventory over the mobile itself.
Streamline processes with ease with SFCC. Manage inventory, sale campaigns, higher scalability, and more on a single platform with Omnichannel functionalities. SFCC platform’s purpose is to enable retailers to run their business seamlessly across various channels. What’s more, with multi-channel functionality you will be able to make every experience a unique one for your buyers by approaching them through various channels both online and offline.
Setting-up Stores Globally
SFCC enables businesses to manage various storefronts across multiple locations through a single back-end platform. The platform can you handle each store’s product data set. The system also allows you to manage billing, pricing, product availability, etc.
- Seamless Process of Purchasing
Salesforce Commerce Cloud offers three fundamental advantages to small and start-up businesses: faster innovation, predictive intelligence, and unified commerce.
SFCC’s ‘Commerce Cloud Endless Aisle’ makes buying easier for your customers and staff members. Each team member has access to a centralized view of customer orders, returns, online inventory, and promotions. Unlike other Platform as a Service (PaaS) platforms, it offers a Software as a Service (SaaS) platform that provides constant access to real-time data both online and offline.
Additionally, you can avoid your customers walking out due to the unavailability of products by showing more online options of in-store products. SFCC’s numerous features even allow customers to make easy product returns from anywhere.
With Salesforce Commerce Cloud you can deliver consistent shopping experiences on any channel.
In a Nutshell,
If it is a long-term benefit, you are looking for in your eCommerce business, then Salesforce Commerce Cloud is the platform you should trust to collaborate with. This platform offers an abundance of features to set up and manage your digital store effectively. Overall SFCC is a strong, scalable e-commerce platform with a wide range of marketing and multiple store management capabilities. But whether you should consider using Salesforce Commerce Cloud for your online business primarily depends on your business model, goals, priorities, and the level of customization you desire.
And this is where Webuters can assist you. The experts at our company can discuss all the benefits of SFCC and help you understand whether it is the right fit for your business.
Skyrocket your online business with the right platform. Talk to our experts today!