Composable commerce:
Digital commerce is one of the ways with which to grow your customer base and interaction. In this day and age, there is almost no alternative to being online, visible and readily available 24/7. Gartner has recently published a Digital Hype Cycle from which we will be picking technologies that could help inform you about the choices and range of services and tech out there today.
The first of these topics, Composable commerce, was born from the need to overcome the rigidity of the traditional eCommerce platforms. Where once a ‘one-size-fits-all’ solution used to be good enough, in today’s hyper-connected world there is a need for far more agile data centres and fulfilment of personal choice. By transitioning to a composable commerce model, the lines between B2C and B2B are being blurred with unique and hybrid models. This enables a balance between your supported vendor and external commerce vendors who are expert in their fields which removes the need to compromise. The advantages of this type of architecture are set out as follows:
Modular:
Each of the components used is fully independent and self-contained and can, therefore, be swapped out as your business needs change.
Open:
It’s all about interoperability. Customization of both third-party and proprietary API services designed by technology vendors, the business themselves, or their solution and integration partners is possible.
Flexible:
Leverage modern, flexible technologies and approaches to enable a customer engagement that stands out in the inundated online market.
Business-centric:
Your business changes and this allows you to respond and adjust to those changes in a seamless and controlled way. Innovation becomes the norm with less cost and risk involved.
According to Elasticpath, a leader in composable commerce, the benefits are both on the technical and commercial sides of your business.
Business Benefits:
- Monetize any customer touchpoint.
- Deliver highly differentiated commerce experiences to stand against competitors.
- Enable commerce experiences with complex business requirements with pinpoint control and precision.
Technical Benefits:
- Eliminate vendor lock-in risk with the ability to swap in/out components on demand over time as needed.
- Rapidly respond to changing business requirements.
- Leverage modern technology standards to reduce costs and increase operational efficiencies like system management and staffing.
Composable commerce is a rising trend in the digital hype cycle and one to pay close attention to. It could change the game for many players in the market by delivering a differentiated experience to their customers.
To have a conversation with us about Composable commerce, get in touch today!
