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.
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.
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.