Have you ever wondered what data-centric composable commerce means and why it's so essential to retailers? Learn what Michael Scholz, VP of Product and Customer Marketing at commercetools, has to say in this webinar about the wealth of benefits businesses experience when they adopt commercetools thanks to MongoDB's advanced database capabilities.
"Global retail sales are about to grow by 56% to just a little over 8 trillion USD. And I think the real question here is if the retailers in the room or other industry players that have and feature digital transactions are prepared for what's ahead of them." Michael began his presentation by highlighting the staggering potential of global retail sales growth.
But the key question he posed is whether retailers are prepared to tackle the changes that keep cropping up to truly capitalize on such growth. Because to do so, businesses must be able to adapt and embrace innovative solutions to remain competitive. And the best way for businesses to be agile and innovative is to embrace a composable commerce approach, like the one offered by commercetools.
To better serve the enterprises that rely on the commercetools platform, commercetools forged a partnership with MongoDB, the renowned NoSQL database provider. In this video session, Michael discusses the transformative potential of the collaboration, and how exactly it offers a promising solution to stay future-ready and thrive amidst uncertainties.
Sharing common ground on the cloud
commercetools' journey with MongoDB began with a seamless transition to MongoDB Atlas, the cloud-based, fully managed database service. By leveraging MongoDB's expertise in data management, commercetools has been freed from the burden of being a data custodian, enabling the company to focus entirely on its core competency: Revolutionizing commerce.
"So for us, we actually started out with just MongoDB and we moved very, very quickly to MongoDB Atlas because for us, we don't want to be the custodian of data. We want to focus on what's important to us, which is commerce, and we want to work with an ecosystem of technology partners that just do what they do best — that are best-of-breed and best-in-class in their particular fields," Michael explained the strategic decision to partner with MongoDB and adopt MongoDB Atlas.
Both companies share a cloud-native philosophy, making them the perfect allies in a multi-cloud environment, whether it's Amazon Web Services (AWS) or Google Cloud. This interoperability allows commercetools to effortlessly scale up or down to meet fluctuating demands, crucial for accommodating peak periods triggered by product launches or influencer buzz.
Navigating constant change with adaptable solutions
In the era of uncertainty, future-proofing your business is not just an aspiration but a necessity. MongoDB and commercetools recognize this, and their partnership empowers businesses to be agile and adaptable in the face of evolving markets and customer expectations. By fostering collaboration between business and IT teams, a full-stack approach is adopted, ensuring that all stakeholders work in unison towards a common goal. This alignment between departments eliminates silos and drives organizational growth.
"We want to move fast. Everything that we do is about incremental innovation and how can you unlock that? If you look at our competitive environment, everything is pretty much either outdated technology or it's a black box type scenario. So it doesn't really give retailers the ability to move fast and act fast and add new channels and things of that nature." Michael emphasizes the importance of agility and innovation in a rapidly changing market.
With a future-proof approach, businesses can adapt and evolve while staying authentic to their brand identity. The ability to quickly launch features, add new channels and respond to customer demands gives retailers a competitive edge and positions them for long-term success.
Harnessing the power of generative AI
Michael explored the exciting applications of generative AI in enhancing customer experiences: "I think promotions are kind of like low-hanging fruit." The integration of MongoDB Atlas Search into commercetools opens up new possibilities in the realm of AI-driven data analytics and personalization.
This technology enables retailers to reach their customers with customized messages, driving higher conversion rates and boosting customer loyalty. Generative AI can revolutionize product descriptions and streamline promotions, further enhancing the customer experience. By de-risking existing applications and providing a reliable infrastructure, MongoDB and commercetools empower businesses to embrace the future of commerce with confidence.
Unveiling the perfect match
The partnership between MongoDB and commercetools marks a significant milestone in the evolution of composable commerce and data-centric commerce. By leveraging the power of MongoDB's advanced database technology, businesses can thrive in the dynamic global retail landscape. The comprehensive integration of MongoDB Atlas Search with commercetools unlocks the potential of AI-driven data analytics and personalization, paving the way for transformative customer experiences.
With an unwavering commitment to scalability, security and agility, this partnership empowers businesses to embrace change confidently and future-proof their operations. MongoDB and commercetools have revolutionized the way businesses approach commerce, offering a composable, customer-centric solution that sets the stage for unprecedented growth and success.
Learn more about data-centric commerce by downloading the white paper The Data-Centric Commerce Guide by commercetools and MongoDB.