Joomla or Wordpress which is best for e-commerce site.

There is no definite answer. But in order to be able to answer, you would need to supply the following information:

1) What are you mainly going to sell
2) How many products are you going to sell
3) Is your web experience rather high or low
4) Do you need multi currency support
5) Do you need multi language support

Magento can easily do them all, but has quite steep learning curve, also in the wrong hands Magento can get extremely slow.
PrestaShop is fast and easy, but inside is French. Some of the modules are bit harder to make for the system because of that. Otherwise it also supports everything above.

Joomla + VirtueMart I do not recommend for the moment, since they are quite buggy. Maybe in a few months time it will improve. From the current view I see that PrestaShop has taken away quite a lot of popularity from Joomla VirtueMart

Wordpress + e-Commerce (getshopped.org) - is easy to set up. Main difference between Magento/PrestaShop/VirtueMart is that you can put your products literally anywhere on your site (post, page, widget, etc...) thru use of shortcodes. Downside is the lack of multi currency support and extra plugins are required in order to get the multi currency support working properly.

And again... before asking which e-commerce software is the best.... please supply what you want to do with your potential future webshop.

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