NEW YORK, Jan. 20, 2022 /PRNewswire/ -- VTEX /zigman2/quotes/228075416/composite VTEX +6.73% , the enterprise digital commerce platform for premier brands and retailers, today announced strong momentum with the success of its VTEX Live Shopping app, in use by more than 100 brands - including Victoria's Secret, Caterpillar, Oster, and Xiaomi - across 10 countries. The company has also expanded global deals with Whirlpool in six European countries and Unilever in Spain, along with signing new enterprise customers in the U.S., such as Briggs & Stratton, the world's largest producer of engines for outdoor power equipment. In an ongoing commitment to support continued product innovation and North American customer demand, VTEX also appointed Fernanda Weiden as its new Chief Technology Officer (CTO).
"It's becoming increasingly challenging for brands and retailers to attract consumers and hold their attention given the virtually unlimited choices they have for where - and how - to shop. We are on the cusp of a new era where trends like conversational commerce will become the norm and browsers will be archaic. Now, more than ever, it's critical that businesses in the U.S. and around the world are ready to meet consumers wherever they are with modern experiences that surpass the "in-store" experience," said Mariano Gomide de Faria, founder and co-CEO of VTEX. "We are proud to future proof our enterprise clients by allowing them to jump to this new era immediately. The runaway success of the innovative VTEX Live Shopping app proves that consumers are hungry for in-store like experiences online, and retailers are uncovering the potential with higher engagement and conversion."
Rapid Adoption of VTEX Live Shopping App, Increasing 5x the Average Online Session Time
Since its launch, the VTEX Live Shopping app has experienced rapid adoption among VTEX customers. Brands and retailers using the solution have seen average consumer online session time increase fivefold. Teams can use the Live Shopping app to plan, execute and manage live one-to-one and one-to-many events. With the VTEX Live Shopping app, consumers interact with product experts and influencers and can promote events within their own communities, bringing the interactive experiences of in-person shopping to the digital world.
The application also includes the ability to track performance of live events, including the number of participants, how many products were added to carts, average order value, likes, shares, and more. This kind of insight on consumer behavior and preferences lets brands and retailers optimize product assortment and continually improve the end-user experience, creating a virtuous cycle of higher engagement and increasing conversion by more than 30% during live events.
New Global Enterprise Customers, Including Whirlpool, Unilever and More
VTEX has seen massive growth from enterprise customers, including Whirlpool using VTEX to expand its ecommerce platform to six new countries in Europe, and Unilever working with VTEX to run a marketplace project in Spain. VTEX also continues to help companies like H&M and BMW in Chile and others all over the world expand their global footprint with unprecedented time to revenue.
In the U.S., Briggs & Stratton, the world's largest producer of engines for outdoor power equipment, selected VTEX to handle its B2B ecommerce orders, now being placed via the updated Power Portal. VTEX was selected for its ability to scale and integrate with back-end ERP systems while still providing the value of multi-tenant SaaS with built-in upgrades.
Expanded Executive Bench with New CTO
To support its continued global expansion and product innovation, VTEX appointed leading technologist Fernanda Weiden as its new Chief Technology Officer (CTO) to oversee the organization's global engineering, product and design teams. Prior to VTEX, Weiden has held executive positions at other big techs, with stints at Meta (formerly known as Facebook) and Google in the Site Reliability Engineering (SRE) area, where she was responsible for scalability, reliability, performance, and app monetization.
"I first started to follow VTEX closely in 2020 and was immediately drawn to the approach the founders, Geraldo and Mariano, have taken since the beginning -- building a strong and passionate team and an amazing product. This philosophy is why I first became an advisor," said Weiden. "VTEX's global momentum over the last year underscores the team's drive and expertise in a market dominated by legacy players and I'm grateful for the opportunity to support their continued growth."
VTEX /zigman2/quotes/228075416/composite VTEX +6.73% provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Our platform enables our customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. Founded in Brazil, we have been a leader in accelerating the digital commerce transformation in Latin America and are expanding globally. Our platform is engineered to enterprise-level standards and features. We are trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries, relying on VTEX to connect with their consumers in a meaningful way*.
*Figures as of FY ended on Dec. 31st, 2020
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