We are thrilled to share the news of BigCommerce’s impressive growth and success, highlighted in their recently released 2022 Annual Report.
Despite multiple challenges such as rising inflation, interest rates, and the war in Ukraine, BigCommerce achieved a remarkable 27% increase in revenue growth in Q4.
2022 marks BigCommerce’s full maturation as a complete enterprise platform in functionality and composable flexibility, following the strategic acquisitions that laid a foundation for the company to become the world's most flexible and easy-to-deploy B2B platform.
One of BigCommerce's big wins in 2022 was its B2B offering, which received widespread recognition from top industry analysts, including Gartner, Paradigm, and Forrester.
Additionally, BigCommerce was rated the best B2B platform in market presence and satisfaction by businesses on G2, the world's largest software review site.
BigCommerce's focus on the Enterprise business segment, which comprises 72% of total annual recurring revenue, resulted in remarkable growth and retention: 111% NRR and a 30%+ YoY growth rate for the past 20 quarters (that’s 5 years!).
MORE FEATURES AND CAPABILITIES
Multi-storefront: The signature product release in 2022 and an innovative feature that enables businesses to launch and manage multiple storefronts from a single BigCommerce backend across brands, geographies and customer segments. A seamless shopping experience for customers, plus more control for businesses over their ecommerce operations, with a much lower operational cost and complexity.
Multi-Location Inventory APIs allows to execute more complex order scenarios, including BOPIS (buy-online-pickup-in-store) and multi-warehouse shipping optimization. This means more flexibility and control over inventory management and orders.
Strategic Acquisitions: BundleB2B, B2B Ninja and Feedonomics
BundleB2B powers the functionality of BigCommerce's B2B Edition, and B2BNinja offers best-in-class B2B quoting capabilities. The 2021 acquisition of Feedonomics also enabled advertising and selling through more channels than competitors. Channels include Amazon, Facebook/Instagram, Google, Mercado Libre, Microsoft, Target+, TikTok, Walmart, and Snap.
MORE MARKETS AND COLLABORATIONS
International expansion played a significant role in BigCommerce's success in 2022, with a 33% revenue growth in the EMEA region. Notable international brand launches include British Airways’ IAG Loyalty and Mexican football club Chivas. BigCommerce also reports country launches in Germany, Austria, Spain, Denmark, Norway, Sweden, Mexico, and Peru.
BigCommerce also established new collaborations with partners in China, Korea, Poland, India, and the UAE, further expanding its international reach.
BigCommerce set an ambitious agenda for 2023: profitability in Q4 and positioning as a global leader in enterprise eCommerce. The company has also made international growth a top priority for the year.
People helping people
We appreciate BigCommerce's commitment towards customer support. Their 24/7 phone and chat service is operated by people, not bots or botty FAQs. In 2022, 85% of phone calls and 87% of chats were answered in two minutes or less. Additionally, with over 70,000 surveys conducted, customer satisfaction was 95% for phone support and 92% for chat support.
Congratulations to our friends and partners at BigCommerce for another successful year. Here’s to more Big Wins, together.
Check out the full report here.