VTEX (NYSE: VTEX), the global enterprise digital commerce platform for premier brands and retailers, announced today a global strong performance during the start of the holiday shopping season, with the kickoff of Black Friday*. GMV reached US$353.8 million, representing an increase of 41% in USD over the same period in 2022 and 31% on an FX-neutral basis, and a 29% increase in orders year-over-year.
This Black Friday*, VTEX witnessed a significant GMV increase in verticals such as Apparel & Accessories (+43% YoY), Beauty and Health (+41% YoY) and Electronics (+39% YoY), in the more than 38 countries where it currently operates.
“Over the past year, brands and retailers had to adapt and navigate a challenging and constantly changing environment, seeking innovative ways to bolster profits amidst economic uncertainty,” says Mariano Gomide de Faria, founder and co-CEO at VTEX. “The current financial landscape, with money being more expensive than before, rewards retailers that make pragmatic decisions. VTEX stands out in this scenario, as our platform expedites revenue generation with competitive total cost of ownership.”
“VTEX gives its customers the power to implement, optimize, test and scale B2C and B2B digital experiences through a composable and complete platform. VTEX natively integrates commerce, marketplace and OMS solutions in one single platform. This allows our customers to leverage omnichannel inventory and fulfillment strengths while exploring new consumer engagement strategies. Our highly-flexible and low-maintenance platform helps customers to optimize IT investments with agility, while growing their profits,” he added.
VTEX Black Friday* 2023 Highlights:
- Black Friday* sales reached the highest peak on November 24th, at 8:47 am ET, when VTEX customers registered 2.8 thousand orders per minute.
- VTEX enabled 2.8 million consumer orders globally from their preferred brands and retailers during Black Friday* 2023, representing a year-over-year increase of 29%.
- The top five regions with the highest year-over-year growth in volume were Brazil, Europe, the United States, South Africa, and Colombia.
Along with the global sales growth, the VTEX platform has also delivered scalability, reliability, and security, giving peace of mind to its customers during Black Friday*.
“We’re thrilled about being the backbone for connected commerce,” says Gomide de Faria. “In 2023, despite economic uncertainties, we remain committed to assisting our customers in making strategic digital commerce investments to achieve their growth plans and enhance their profitability,” concludes the executive.
* The Black Friday disclosed data is based on gross merchandise volume (GMV) and orders by VTEX customers around the world from 23/Nov/2023 00:00 UTC (Thursday) to 24/Nov/2023 23:59 UTC (Friday), and compared to 24/Nov/2022 00:00 UTC (Thursday) to 25/Nov/2022 23:59 UTC (Friday).
For more such updates, follow us on Google News Martech News