With a macroeconomic headwind looming, now is the time for enterprise retailers to reduce their exposure and risk with the objective of making smart investments in their technology stacks to future-proof their e-commerce operations to ensure adaptability during periods of economic uncertainty.
Composable commerce — a modular approach that allows merchants to customize their tech stacks by choosing interchangeable and integrated e-commerce solutions to suit their unique business requirements — will emerge this year as the preferred model for progressive enterprise B2C and B2B merchants to gain the flexibility and agility to adapt as the business evolves, while also proliferating growth. Instead of being forced to choose a one-size-fits-all solution, this approach enables enterprises to pick and choose the precise functions they require for their e-commerce platform.
Some of the main advantages of composable commerce include:
- Flexibility: Rather than relying on one vendor for all business requirements, taking a composable commerce approach gives enterprises the flexibility to explore and choose the best-in-breed vendors to assemble a robust, functional e-commerce tech stack that’s customized to meet specific business needs or requirements. With numerous factors influencing online buyer behavior, enterprises gain unmatched flexibility to rapidly pivot and adjust to meet shifting consumer needs.
- Scalability: Having the flexibility to add, interchange and integrate third-party applications enables the e-commerce tech stack to grow as the enterprise grows. The modular component that composable commerce provides gives enterprises the agility needed to deliver innovative experiences that establish a competitive mainstay. .
- Future-Proofing: By not being “locked into” a system, enterprises can make smart, cost-effective investments now to sustain retail business innovation and growth alongside emerging technologies and trends, as well as protect against change and economic uncertainty.
Let’s examine why enterprise retailers should shift from legacy and monolithic e-commerce platforms to a composable commerce solution to build business resilience for the long term.
One Size Doesn’t Fit All
While a monolithic, one-size-fits-all approach was sufficient a decade or even just a few years ago, it’s now antiquated and won’t sustain retail business innovation and growth for the long term.
Although a monolith may work for businesses with limited requirements, once they grow in size and complexity — e.g., launching multiple brands or websites, expanding into new regions or selling through several marketplaces and social channels — their needs require a more flexible approach. Enterprises need technology solutions to enable selling across more channels, reach more shoppers where they are, provide a better customer experience and, ultimately, get a better return on their investment.
Build Business Resilience With Composable Commerce
Composable commerce is achieved by assembling and combining packaged business capabilities (PBCs). PBCs are software components that meet specific business needs, such as a virtual shopping cart, order management or account management.
Leveraging a composable commerce solution allows enterprise retailers to diversify their third-party tech solutions and capitalize on open commerce. Rather than relying on one vendor for all business requirements, enterprises can easily combine components into custom tech stacks that can be deployed and interchanged independently as business priorities shift. This not only expands a retailer’s offerings, but allows it to address only one area of functionality without compromising others.
Furthermore, developers can use front-end frameworks that they’re already familiar with, marketers can use a content management system (CMS) to make quick changes to promotions, content and more — and at the end of the day, it enables greater efficiencies by giving staff the tools they need to remain agile.
Creating Certainty in Uncertainty
As retailers evaluate their e-commerce strategies against an uncertain macroeconomic backdrop, they must consider what modern e-commerce technologies they need to deliver the best results. Employing a more adaptable and future-proof approach to e-commerce enables businesses to respond to unexpected change and build business resilience that strengthens their competitive footing and staying power.
Meghan Stabler is senior vice president at BigCommerce, a leading open SaaS e-commerce platform that equips midmarket and enterprise brands with a composable foundation to accelerate digital transformation for ambitious growth.
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