CAMPBELL, CA--(Marketwired - Mar 29, 2017) - Magento, the worldwide leader in cloud digital commerce innovation, has been awarded the Frost & Sullivan 2017 Global Ecommerce Platforms Product Line Strategy Leadership Award. Based on recent analysis of the eCommerce market, the award recognizes Magento's strategic excellence in building a platform to enable businesses and merchants to deliver distinguished experiences that mirror the differentiation of their brand.
Merchants today must provide seamless experiences across digital and physical stores in order to compete and define their brand. Market leaders are constantly working to keep up with the pace of digital innovation. Commerce platforms must be open and flexible so businesses and retailers can take advantage of new innovation, expanding markets, emerging business models, and they need to have the ability to support multiple brands to drive rapid growth.
As an eCommerce leader, Magento drives innovation for 260,000 merchants across 23 industries, and powers over $101 billion in transactions a year for 51 million shoppers. In Frost & Sullivan's analysis, Magento outpaced competitors in two key criteria, showcasing Magento's ability to support customer innovation and customization:
- Product Line Strength - including breadth, scalability and features of the platform.
- Customer Impact - including price and performance value, customer ownership experience and brand equity.
Magento sets itself apart through the breadth of its portfolio of capabilities and flexibility to address the full range of customer needs and applications at a variety of price points and functionality levels, according to Frost & Sullivan. Magento has a unique business model that marries leading capabilities in an open platform with a global community of developers, product extension providers and implementation partners.
"To remain competitive in today's rapidly evolving commerce landscape, businesses need to fully embrace a digital first strategy that puts the customer at the core," said Mark Lavelle, CEO of Magento. "At Magento Commerce, we're continually expanding our product line and world-class ecosystem to help our merchants better compete for today's always connected, fully empowered customer. Recognition from Frost & Sullivan is tremendous validation of the success and excellence of the Magento platform."
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research.
Magento will be recognized at the Excellence in Best Practices Awards Gala, which will be held July 19, 2017 at the Loews Vanderbilt Hotel in Nashville, TN.
To view the full report, please visit https://magento.com/resources/magento-commerce-recognized-frost-sullivan-global-product-line-strategy-2017-winner
About Magento Commerce
Trusted by more than 260,000 businesses worldwide, Magento Commerce is the leading provider of cloud commerce innovation to merchants and brands across B2C and B2B industries. In addition to its flagship open source digital commerce platform, Magento Commerce boasts a strong portfolio of cloud-based omni-channel solutions empowering merchants to successfully integrate digital and physical shopping experiences. With over $101 billion in gross merchandise volume transacted on the platform annually, Magento Commerce is the #1 provider to the Internet Retailer Top 1000, counting more than double the clients to the next closest competitor, the B2B 300, and the Top 500 Guides for Europe and Latin America. Magento Commerce is supported by a vast global network of solution and technology partners, a highly active global developer community and the largest eCommerce marketplace for extensions available for download on the Magento Marketplace. More information can be found at www.magento.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, the company has been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Learn more about Frost & Sullivan at www.frost.com.