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Revisiting Numbers

Ashwin Ramasamy
Ashwin Ramasamy
Aug 28, 2022
3
Min Read

Once every few months, we go back and look into the world of enterprise eCommerce platforms. We did that last week.

Some stand-out statistics:2022 is turning out to be a phenomenal year for enterprise eCommerce platforms. The pandemic has come as a reckoning for big corporations who were ambivalent about eCommerce. The result of clarity is evident in enterprise eCommerce adoption.

The top enterprise eCommerce platforms have added 10,000+ merchants. The year is not over and already these platforms added just 1000 shy of last year's numbers. The year promises to be the year of net-new additions for enterprise eCom platforms.
Enterprise eCommerce companies come with complexities. Multi-store setup, multi-country website versions, integrations with myriad backend systems that are not homogenous across the multiple online stores they run – everything is par for the course.

We have come across several large brands with multiple eCommerce platforms layered – one for the storefront and one for the backend. We have also seen opensource CMS platforms serving the catalog for the website while custom code runs on the backend. Invariably such options are preferred by large brands with GMV upwards of $10M per year (on an average), while the top 15 eCommerce platforms serve small eCommerce companies with less than $2M in GMV.
Enterprise eCommerce companies come with complexities. Multi-store setup, multi-country website versions, integrations with myriad backend systems that are not homogenous across the multiple online stores they run – everything is par for the course.


Enterprise eCommerce companies come with complexities. Multi-store setup, multi-country website versions, integrations with myriad backend systems that are not homogenous across the multiple online stores they run – everything is par for the course.

We have come across several large brands with multiple eCommerce platforms layered – one for the storefront and one for the backend. We have also seen opensource CMS platforms serving the catalog for the website while custom code runs on the backend. Invariably such options are preferred by large brands with GMV upwards of $10M per year (on an average), while the top 15 eCommerce platforms serve small eCommerce companies with less than $2M in GMV

We don't talk much about platform wars in the context of eCommerce tech platforms because there isn't one enemy. The longtail of eCommerce is served by platforms like Shopify, WooCommerce etc. while everyone aspires to serve the mid-market. Shopify Plus currently serves an active customer base of 12,000+ enterprise-ish merchants.

The real prize is at the top, where a flurry of "new to eCommerce" enterprises will expand the TAM at the top unlike ever before. The competition there isn't another enterprise platform but the need for bespoke solutions. Headless commerce is a starting point for 'store front' first platforms like Shopify in their journey to serve enterprises. For platforms like Oracle Commerce and Salesforce Commerce Cloud, backend extendability and enterprise integrations are familiar territories but modern web/mobile experience and new media formats aren't. There are also non-technical considerations for an enterprise when they adopt an eCommerce platform. An Oracle shop will be heavily incentivized contractually to adopt Oracle Commerce irrespective of platform merits.

On the long tail side, platforms win based on the ease of getting started and the presence of a vibrant app/developer ecosystem. The mid-market is won based on how robust, extendable, and flexible the platforms are. The enterprise market is won by how easy it is to integrate into the existing enterprise architecture and not necessarily what gives the best eCommerce experience.

By sheer numbers, Shopify's GMV is bigger than that of Salesforce, Magento, and BigCommerce and among the vendors it has the best 'land and grow' opportunity as companies graduate from Shopify to Shopify Plus.


Shopify Plus demonstrated its strength by being the leading platform both in terms of adoption by new eCommerce websites as well as migrations.

Yet, Shopify is hardly enterprise-grade and is not seen as the platform to compete against. It’s not what SAP is to ERP or Salesforce is to CRM.

The slow-turning ship of enterprise eCommerce adoption is actually showing momentum. Should this have been the bet for Shopify instead of the overall eCommerce growth hypothesis?

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Slips poor jokes & gets away with a poker face. Carries a no BS attitude at getting things done. First to arrive at the office, Ashwin’s energy does not ebb through the day. Ashwin is one of the co-founders and he sets the tone for marketing, sales, design & culture.
Slips poor jokes & gets away with a poker face. Carries a no BS attitude at getting things done. First to arrive at the office, Ashwin’s energy does not ebb through the day. Ashwin is one of the co-founders and he sets the tone for marketing, sales, design & culture.
hm.com
HQ Location: Beaverton, Oregon, United States Of America, 97005
hm.com, operated by H & M Hennes & Mauritz AB, is an internationally-focused online store that generates eCommerce net sales primarily in Germany as well as in the United States and the United Kingdom. With regards to the product range, hm.com achieves the greatest part of its eCommerce net sales in the “Fashion” category.
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hm.com funding details
Total venture and debt funding raised by hm.com from accredited investors.
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Slips poor jokes & gets away with a poker face. Carries a no BS attitude at getting things done. First to arrive at the office, Ashwin’s energy does not ebb through the day. Ashwin is one of the co-founders and he sets the tone for marketing, sales, design & culture.
Slips poor jokes & gets away with a poker face. Carries a no BS attitude at getting things done. First to arrive at the office, Ashwin’s energy does not ebb through the day. Ashwin is one of the co-founders and he sets the tone for marketing, sales, design & culture.
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