Modern Retail Research: Brands and retailers are focusing less on e-commerce modernization
E-commerce upgrades are so 2021. Now, brands and retailers are retaining their resources and keeping the tech stacks they have.
That’s according to a recent survey of brands and retailers from Modern Retail and Glossy. The respondents were asked if they’ve updated their e-commerce platforms in the last year, and many said they hadn’t.
According to the 67 brands and retailers, 82% said they hadn’t upgraded their tech stacks in the last 12 months.
It’s a stark shift from a little over a year ago, when most companies were scrambling to make sure their businesses were running properly online. According to a Modern Retail and Glossy survey from 2021, 49% of responses then said they had upgraded their e-commerce platforms. Now, it seems, they’re figuring out how to use what they have.
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Meanwhile, when it comes to platform choice, Shopify remains king. According to this most recent survey, 57% of respondents said they use Shopify as their primary e-commerce platform. Coming in second were home-built platforms, at 16%.
This keeps in line with what brands and retailers said a year ago. In a 2021 Modern Retail and Glossy survey, 54% said Shopify was their primary e-commerce platform and 19% said they had a home-built platform.
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While the findings aren’t shocking, they do point to brands rethinking their priorities. E-commerce boomed in 2020 and 2021, and companies reacted fast to ride that wave. Now, amid a new economic environment and shifting shopping patterns, brands and retailers seem to be focusing less on newfangled tech stacks and are instead trying to conserve resources.