Answering the question of what is a commerce platform, it’s often also an ecommerce platform, or software that allows businesses to track, manage, and sell products or services that consumers can purchase online.
The primary function of an ecommerce platform is to give businesses and consumers an online location to sell and buy things. It can serve additional functions, though, such as giving a business a broader presence beyond their brick-and-mortar location, providing customers with convenient ways to purchase products or services, and giving businesses useful data about their consumer base.
Ecommerce platforms also give retailers an organizational system through which they can manage their inventory, market their products, and create content to support their offerings. In many cases, ecommerce platforms offer businesses a one-stop-shop for their sales, marketing, and inventory management needs.
Some businesses build their ecommerce platforms from scratch, while others use software-as-a-service (SaaS) offerings that come with pre-built tools to create and manage their platforms.
As more and more consumers are shopping online, having an ecommerce platform is crucial to staying competitive in today’s fast-paced market.