BigCommerce Reports Exceptional Growth in Cyber Week Sales
Austin, Texas - BigCommerce (Nasdaq: BIGC), a prominent open SaaS, composable eCommerce platform, has announced impressive results for its customers during the crucial Cyber Week shopping period. This year, customers on the BigCommerce platform reported a significant 26% surge in gross merchandise value (GMV) compared to previous years, outpacing global benchmarks and indicating strong consumer enthusiasm heading into the holiday shopping season.
Strong Consumer Engagement During Cyber Week
The growth in GMV marks an improved performance from the 10% increase reported during Cyber Week of the previous year. According to the latest data, not only did the GMV increase, but consumer engagement levels were also notably higher this year. Total orders jumped by 13%, a significant rise from the 7% seen last year, and the average order value (AOV) saw an 11% increase compared to just 3% in the prior year. Overall, global online Cyber Week sales increased by 6%, a growth pattern corroborated by industry analysis.
Comments from BigCommerce Leadership
"It is truly impressive and satisfying to see BigCommerce brands and retailers excel during this important Cyber Week period," said Al Williams, general manager of B2C at BigCommerce. He emphasized that the substantial 26% GMV increase is the highest customers have seen since reporting began in 2021. Given the forecasts indicating slower growth in holiday spending this year, these results highlight the innovation and quality of products offered by BigCommerce customers, alongside the platform's flexibility to facilitate fast checkouts and compelling shopping experiences.
U.S. Results and Sector Highlights
In the U.S., brands and retailers also performed admirably, achieving a 27% GMV increase in the Cyber Week period. Additionally, there was a 10% rise in the number of orders and a remarkable 15% increase in AOV. According to industry insights, the overall online sales in the United States witnessed a growth of 7% during this period.
Daniel Burrow, vice president of sales and marketing at UPLIFT Desk, shared insights into the importance of Cyber Week for his business. He stated, "Cyber Week is an essential time for us, as it contributes significantly to our sales. The support provided by BigCommerce has enabled us to enhance the shopping experience for our customers, allowing them to create their ideal workspaces conveniently."
Record Performance in EMEA Region
The EMEA region reported even more impressive gains, showcasing a 39% GMV increase and a 45% rise in orders. Notably, GMV skyrocketed in Italy, reflecting a 112% increase, while the UK saw a steady growth of 38%.
Marcel Bordon, CEO of Soletrader, commented on the importance of the holiday sales period, stating, "Black Friday and Cyber Week are critical for our business operations. The positive outcomes we achieved, particularly after replatforming to BigCommerce, have been encouraging. Our customers are enjoying the enhanced functionalities of our online storefront, and we are excited to innovate further to improve their shopping experience."
Key Cyber Week Trends and Insights:
Other notable trends from the 2024 Cyber Week include:
- The apparel and accessories sector led the charge with a GMV increase of 52%, followed by toys and games at 44%.
- Mobile commerce accounted for 35% of orders, with mobile orders up by 7% from the previous year, and iPhones representing 71% of mobile purchases.
- Thanksgiving Day saw the highest sales increase at 36%, with Black Friday and Cyber Monday following closely behind.
- The Sunday of Cyber Week recorded a remarkable 21% increase in orders, underscoring growing consumer engagement as the holiday season approaches.
- Notably, alternative payment options like 'Buy Now, Pay Later' rose by 10% compared to last year, indicating shifting consumer preferences.
Broader Economic Signals
Looking beyond Cyber Week, early holiday shopping indicators from October have shown resilience in consumer spending. A year-over-year growth of 4.59% in core retail sales (excluding restaurants and auto dealers) reflects a robust shopping climate. BigCommerce customers were able to mirror this growth in their online operations, with notable increases in orders, GMV, and AOV compared to the prior year.
Frequently Asked Questions
What is BigCommerce's growth percentage during Cyber Week?
BigCommerce reported a significant 26% increase in gross merchandise value during Cyber Week.
How did U.S. brands perform during Cyber Week?
U.S. brands witnessed a 27% GMV increase, with 10% more orders and a 15% rise in average order value.
Which sectors saw the highest GMV increases?
The top performing sectors included apparel and accessories, toys and games, and sporting goods.
How important is Cyber Week for retailers?
Cyber Week is a critical sales period, influencing overall holiday spending and shaping businesses' success for the year.
What trends are emerging in consumer payment preferences?
There has been an increase in the use of alternative payment methods like Buy Now, Pay Later, indicating a shift in consumer choices.
