Introduction

Modern commerce demands the ability to swiftly adapt to changing shopper behaviors while navigating turbulent economic conditions. Achieving this agility is challenging for many enterprises due to their existing tech stacks.

Legacy technologies and monolithic e-commerce platforms not only impede your ability to offer cutting-edge shopping experiences but also limit your team’s potential. This often results in marketers struggling to make swift changes and developers focusing more on security and maintenance than innovation.

To stay competitive, enterprises must invest in technology that offers flexibility for immediate changes and adaptability for future customer and business needs. According to Forrester Research, companies dedicated to a future-fit technology strategy grew their revenue 1.8 times faster than their peers.

“Is your current tech stack future-proof? Consider a composable commerce approach that allows for innovation and integrates best-in-class functionalities to meet today’s e-commerce expectations,” explains Meghan Stabler, SVP, of Global Product Marketing, BigCommerce.

This white paper will explore why now is the perfect time to evaluate your existing tech stack, how a composable commerce approach ensures enterprise longevity, and how BigCommerce can help you build a future-proof commerce solution.

Why Now is the Time to Invest in Digital Commerce Innovation

Needless to say, the past few years have brought waves of unprecedented change, from the explosive growth of e-commerce during the pandemic to the rise of omnichannel commerce. As consumer behaviors shift again due to macroeconomic factors, enterprises must seize the opportunity to strengthen their market position and ensure their long-term viability.

During the Forrester Tech and Innovation Summit, Forrester emphasized that businesses should not reduce their digital innovation or investment during economic slowdowns. Instead, this is the optimal time to invest in e-commerce and find the right tech stack to survive and thrive.

BigCommerce Chief Information Officer, Rosie Rivel, wholeheartedly agrees. “Businesses need to protect their digital investments and not succumb to the natural organizational response of budget-cutting during economic downturns,” she stresses.

By safeguarding digital investments and maintaining the organizational discipline necessary for value realization, enterprises will position themselves ahead of competitors and be better prepared to scale when the economy rebounds.

Therefore, enterprises must focus on understanding customer expectations and anticipating future e-commerce platform needs. According to Forrester, a future-fit technology strategy enables customer obsession by allowing you to respond to ever-changing expectations with adaptability, creativity, and resilience.

Economic uncertainty is driving shoppers to be more selective with their spending.

During the pandemic, it was relatively easy for businesses to launch and succeed with an e-commerce site because shoppers were compelled to buy online. With physical stores unavailable, consumers turned to online shopping for more purchases, including traditionally in-store categories like groceries and furniture.

Now, as we transition to a post-pandemic world, behaviors are shifting again. Inflation has been high in the United States and the United Kingdom, reaching around 9% between May and June 2022. While some sectors like grocery and consumer products may benefit from new purchasing habits, others are seeing a decline in consumer spending.

Shoppers are becoming more selective about their purchases and where they buy from, with 82% of US adults seeking sales and cheaper shopping options. McKinsey & Company research found that 74% of consumers surveyed in July 2022 are taking measures such as adjusting purchase quantities, delaying purchases, visiting lower-priced stores, and switching to cheaper brands.

With heightened competition for fewer consumer dollars, it is crucial for brands to distinguish themselves. A key strategy is to focus on exceptional customer service, or as Forrester describes it, becoming customer-obsessed. Forrester predicts that shoppers will gravitate towards brands and businesses that show genuine care during challenging times.

Discover how to navigate the shifting e-commerce landscape and stand out in a competitive market. Continue reading our comprehensive guide and download it today to equip your business for success.

The Table of Contents of “The Time to Modernize is Now: Why Enterprises Need a Composable Commerce Solution” Guide:

• Introduction
• Why Now is the Time to Invest in Digital Commerce Innovation
• How Composable Commerce Provides Flexibility for Enterprises
• — How Composable Commerce Works
• — Examples of How Composability
• Supports Customization Build a Future-Proof Commerce Solution with BigCommerce
• The Moment of Disruption is Now

Number of Pages:

• 19 pages

Pricing: 

• Free