How to choose the right E-Commerce Platform for your Business? This decision making process will help you choosing the right platform

06 October 2022

The current situation demands that "your customer" gets easier access to their needs. This is possible only by offering easy ordering, safe distancing, online payments thus saving of time. The best way to overcome this challenge today is go online and make your customersafe!

The Decision

The decision to choose the right e-commerce solution for your business is never easy!!

The E-Commerce industry is currently worth $4.8 trillion, projected to increase to $5.4 trillion by 2022. Business owners planning to start their E-Commerce Business, generally imagine a website where they can list products and expect revenue to begin rolling in. However, a website is just a shop front, much like a physical store. Creating a digital presence requires the same level of strategic thinking and planning process.

Today, any Business Owner will tell you that running a physical store is not only about arranging the aisles and taking customers through the checkout process. Business owner looks for the best E-Commerce platform, where they can operate core features, integrate new features, and 3rd party tools seamlessly.

Sure, there are variety of options available in the market that can help you selling your products online, but if scaling your business is what you want, then you have to look and compare each aspect of the available solutions which can delight your customers, run absolutely flawless, and be able to fulfil your orders in the fastest, most affordable way possible.

Choosing the right development approach that fits your Business strategy is a crucial part for business success. As a Business Owner here are some of the points to consider while choosing an E-Commerce platform:

  1. Cost of solution: Cost of solution is not just the cost in which it would be developed. There are Direct & In-Direct cost like Cost of Upgrades, Infrastructure, Maintenance, Support etc.
  2. Time to Develop: Solution development time should correlate with your Time to Market strategy
  3. Solution Scalability: Can the product grow as your business grows? Product should be capable to incorporate new functionalities when required to scale. There should be option for starting small, yet a facility to make it big.
  4. Solution adapts to Business Model: The solution should adopt to your Business needs and not the other way around. A product should not limit your business, but rather it should accept your business process.
  5. Data Ownership: Who owns the Data? Ownership and Compliance of Data & Privacy is very critical in this age.
  6. Control over Technology: How much control you have over the technology in your business? Control over the product becomes critical when you want to scale your business.
  7. Ease of Operation: Does the solution allow for Ease of Operation & Inter- operability? A solution has multiple type of users and platforms it can be used from. The user experience for all user group becomes critical.
  8. Integration with 3rd Party Tools: Does the solution have the ability to integrated with 3rd Party? Integrating with existing or new external system like POS, Inventory, Book keeping etc is critical. The solution should allow for such an openness with other systems.
  9. Solution Support & Upgrades: Does the solution provide for Support, Upgrades? Development is just a beginning. A great post development support and continuous upgrades is necessary for growing business.

What are the different types of E-Commerce solutions available in the market?

When it comes to choosing an E-Commerce platform, you have 4 different types to choose from, as shown below.

  • Bespoke Solution
  • Open-source Solutions
  • SaaS Platform
  • Clones
  • White-Label Platforms

These platforms come with their own set of Pros and Cons. Look below at the comparison:

 BespokeOpen-sourceSaaSClonesWhite-Label
DefinitionCustom DevelopmentSolution like WooCommerce, MagentoPlatform like Shopify, Yelo etcCompanies offering Clones of solutionsProduct which has the ability to White-Label / Brand the solution as per Business
ProsBest possible functionality

Ownership of Source code
Lot of themes and plugins available for quick development and cost effective

Highly Customizable
Tried and Tested model

Lower entry cost

Lot of features to adopt

No infrastructure cost
These companies will offer you such clone at a very low cost

Ownership of the Source code
Branded Solution

Last mile Customization

Ownership of Data

Low Cost
ConsHigh Cost

Longer Time to develop
No readymade mobile solution

Time to develop can increase due to mobile development
Hidden cost

Issues with GDPR/ Data compliance

Not customizable

Mobile App will not be a branded solution

No ownership of Source code and data
Usually such firm download these clone code from open-source/ Github repository and add a UI wrapper around it

Outdated versions / technology

No customization available
No ownership of Source code
White-Label Platforms

Look at the below Decision Matrix and find a solution which is a good fit for your business model,

#ParametersBespokeOpen-sourceSaaSClonesLokaly
1Cost of solutionCost of solution will be very highWeb cost will be Low as themes & plugins available. Mobile App would be costlyHidden charges for transaction, and other activitiesLow cost of solutionNo hidden cost, Low to Medium cost of solution
2Time to DevelopVery long development timeLow to medium time to developLow time to adoptLow time to adoptLow time to adopt
3Solution ScalabilityYesYes there would be different pricing modelsNo as it would be one time saleYes, we have modular approach
4Solution adapts to Business ModelProduct adopts to your Business ModelProduct adopts to your Business ModelBusiness adopts to the ProductBusiness adopts to the ProductProduct adopts to your Business Model
5Data OwnershipCustomerCustomerMostly the SaaS platform would ownCustomerCustomer
6Control over TechnologyFull control with the ownership of the source code & dataFull control with the ownership of the source code as per Open source license & dataLeast control of all model. Saas will not offer any customization & you will not own the codeFull control with the ownership of the source code & dataIPR/Source Code with Lokaly. However we offer all customization
7Ease of OperationYesYesYesLow, due to outdated technologyYes
8Integration with 3rd Party ToolsYesYesLimited as per their listYesYes
9Solution Support & UpgradesYesYesYesNoYes
 Upgrades     

Lokaly

When we started Lokaly as a product we based our approach on the following understanding:

  1. All E-Commerce business venture will be 70-80% similar but there will always those 20-30% difference in these platforms which will make it unique. Lokaly should focus of this aspect to make each experience unique.
  2. Product should not only bring best practices to the business but should be able to adapt itself to the Business strategy by offering last mile customization.
  3. Product should be offered at an affordable cost and quick turnaround
  4. Should be able to fit a small to larger venture using modular approach
  5. Product should have an openness to integrate with existing/ new tools

Verve Systems has an experience of over 12 years in Bespoke solution development and have been developing Lokaly since 2018. The code developed for Lokaly is from scratch with no open source or copied code base which gives us complete knowledge and control over the development.

What do we cover:

Aggregator Business Model (Marketplace with Store listing enabled)

  

Single Brand Store (Single or Multi location)

  

Pure Ecommerce Flow (3rd Party Courier Delivery Integration)

  

Hyperlocal Ecommerce Flow (Self Delivery, 3rd Party Delivery)

  

Dark-flow Ecommerce (Fulfillment WH, Multiple Suppliers)

Applications

 

Customer Application

Business Application

Point of Sale

Driver Application

Picker Application

Dine-In Application

 

WEB

MOBILE

TABLET

What Lokaly Offers?

• Complete White-label Solution with customized & branded solution on App Store
• Your own Marketplace subscription model
• Business Hours, Order Settings, Delivery Settings
• SMS Alerts on Order receipt & processing
• Custom offers & discounts at store level
• Online Payment Integration
• Flexible Licensing model: One-Time License / Subscription Monthly Model
• Modular Functionality to allow solution to grow as your business grows
• Wide variety of store type

Core Modules

Add-On Modules

Pricing Model

Clientele