We're excited to announce formal recognition from Gartner as a digital commerce technology leader in the 2017 Gartner Magic Quadrant for Digital Commerce.
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Oracle was positioned furthest for completeness of vision. The report also states: Oracle is a leader based on its ability to support both B2C and B2B business models, multiple digital commerce delivery models and a strong partner ecosystem.
We’ve discussed in detail here the struggles of modern day ecommerce, but when you think long-term the truth is that digital shopping is the obvious future of business transactions both from the B2C perspective and B2B.
From the B2B perspective: Our research suggests at least 50% of B2B customers will buy from businesses online within 3 years and the B2B commerce market is forecasted to reach as high as $6.7 trillion by 2020 according to Frost & Sullivan.
From the B2C perspective: eMarketer expects retail ecommerce sales will increase to over $4 trillion in 2020.
We believe the future of digital commerce is bright because we recognize the shift in consumer shopping behavior. And like the aforementioned industry analysts, this leads us to believe that the digital market is experiencing significant growth.
The businesses that invest resources in innovation and research today will be better positioned to reap the rewards of future consumer and B2B customer spending trends. It’s a cycle of digital commerce progress that looks something like this:
So the question becomes, do you trust the future opportunity of digital commerce for your business? If the answer is yes than the next series of questions revolves around your ability to execute preferred digital shopping experiences. It’s the same for B2B as it is for B2C.
If you trust in the future opportunity digital commerce provides but don’t trust in your ability to execute modern best practices, it's usually because there are technology and/or operational constraints.
This gets to the heart of the challenges that Oracle CX has been looking to solve for the past 20 years. In 1997 it was about providing ecommerce technology essentially for big retail and making it possible for consumers to buy online. Today it’s about providing agile and scalable technology and business operation solutions in a variety of formats to address the questions above and empower businesses of any size and scope to streamline business operations and cut costs.
Organizations of all business models and sizes have a lot of work to do to improve their digital customer experience and compete with the likes of Amazon.com (B2C) and Amazon Business (B2B).
What organizations don't need is to be hamstrung with costly and time-consuming security, technology, and infrastructure expenditures that interfere with their ability to operate and sell more efficiently. This is why Oracle CX invests millions into R&D, IT, and best-of-breed customer experience technologies.
And indeed the digital commerce opportunity is far larger than online transactions. As we look toward the future of customer and consumer behavior, we are committed to delivering a truly unified CX platform capable of helping businesses manage front office, back office, and both owned and assumed digital properties for truly connected, scalable, and secure business operations.
Regardless of your business operation model, the time is right to partner with the digital commerce leader. Demo Oracle Commerce and Commerce Cloud today.
For more information download the 2017 Gartner Magic Quadrant for Digital Commerce report.