New Delhi [India], March 27 (ANI/BusinessWire India): VTEX (NYSE: VTEX), the global enterprise digital commerce platform for premier brands and retailers, has announced ramping up its global operations, including India, where it has already bagged key mandates from Motorola and Whirlpool.
The platform enables merchants to deploy, optimize, test and scale advanced B2C and B2B commerce experience through a composable and complete commerce, marketplace and OMS solution. Going far beyond just an ecommerce solution, VTEX has been helping brands and retailers globally drive rapid and efficient growth. In 2022, VTEX’s GMV (Gross Merchandise Volume) grew 31.3 per cent (in USD, reaching USD 12.7 billion) meaning the total value of goods transacted by all customers using the VTEX platform. It also proves that VTEX’s customers outpaced the industry growth, as retail ecommerce sales worldwide grew only 9.7 per cent in 2022 according to Statista.
Despite the macroeconomic uncertainties for 2023, VTEX intends to continue to outperform the market while improving its margins and supporting customers to direct their investments towards increasing profitability in the digital commerce field. VTEX is a leader in digital commerce platforms and trusted by over 2,600 customers, including Carrefour, Mondelez, Samsung, Under Armour, Unilever, Walmart, and others, having over 3,400 active online stores across 38 countries. Using all its expertise in commerce, VTEX has recently conducted a global survey about retail profitability, and recommends focus on three key investments to drive long-term growth:
1) Get more from customers you already have
Most of a brand’s and retailer’s profits come from its most loyal clients, so investing in these selected ones can make a big difference in profitability.
2) Make inventory and supply your strength
VTEX research shows that 55 per cent of brands are still in the early stages of the omnichannel maturity curve. Investing in this strategy – specifically in inventory management, order management and supply chain – can improve customer satisfaction.
3) Engage with customers in new ways
The digital commerce market is fiercer and more competitive than ever. Therefore, brands need to better engage with consumers through videos and immersive product pages to stand out from competitors and thus increase conversion rates.
To support its customers worldwide, VTEX counts with a highly trained and experienced team of commerce specialists, solution engineers and architects, who help CIOs and CTOs balance flexibility and maintenance to leverage their business advantage with the right architecture. In this context, the global enterprise digital commerce platform – named Visionary for three years in a row by Gartner® Magic Quadrant -, has recently improved even more its organizational structure. To support its business strategy for 2023, VTEX has appointed Prakash Gurumoorthy as the General Manager of EMEA and APAC regions.
Prakash is a well-regarded, award-winning digital leader with over 20 years of proven experience in various roles at multinational companies. Before joining VTEX, he built the iconic BORN Group, a global agency that helps brands with digital transformation. He is also a part-time faculty empowering young minds and mentoring companies in IIT Madras’ start-up ecosystem. Prakash is a graduate of BITS, Pilani, and an MBA in Marketing & Operations from K J Somaiya Institute of Management.
“The APAC and EMEA regions including India, are very important markets for us, and we are looking to have big brands on board this year across retail, auto, pharmaceuticals, and logistics. Our focus is on responsible growth based on customer success and experience. At VTEX, we aim to attract and retain our customers not only for the product itself but also for the specialized knowledge of our team, both in business and in technology for digital commerce,” explains Gurumoorthy.
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