Welcome to our dedicated page for Bigcommerce Holdings news (Ticker: BIGC), a resource for investors and traders seeking the latest updates and insights on Bigcommerce Holdings stock.
Commerce.com, Inc., formerly BigCommerce Holdings, Inc., provides an open commerce technology ecosystem built around BigCommerce, Feedonomics and Makeswift. Company news commonly covers ecommerce platform capabilities for direct-to-consumer and B2B merchants, product data and feed management, headless and composable storefront deployments, payments and ERP integrations, and customer implementations across retail, manufacturing, distribution and public-sector commerce.
Updates also include quarterly results announcements, investor conference participation, partner integrations and corporate identity developments following the company’s name change from BigCommerce Holdings, Inc. to Commerce.com, Inc.
BigCommerce announced the launch of MKM Building Supplies' new online storefront, leveraging its headless technology for improved scalability and customer experiences. The transition from a legacy platform to BigCommerce has yielded enhanced ecommerce metrics and increased store visits. Issues such as slow page loads and high ownership costs were overcome, enabling MKM to manage numerous product SKUs and personalize user experiences for B2B and B2C customers. Collaborating with Brave Bison and Vue Storefront, the new site exemplifies successful composable commerce implementation.
ESW has been named a BigCommerce Preferred Technology Partner, providing access to its direct-to-consumer ecommerce solutions for BigCommerce merchants. This partnership enables BigCommerce clients to integrate ESW’s services easily via the BigCommerce App Marketplace, targeting over 200 global markets. ESW aims to support brands in expanding their customer base and enhancing revenue with localized ecommerce solutions. The collaboration is expected to improve merchants' customer experiences while maintaining control over their data and online presence.
BigCommerce announces the launch of its Omnichannel Certified Partner (OCP) Program, aimed at helping ecommerce merchants enhance revenue through strategic partnerships. The program, which has attracted over 100 partners, includes the Omnichannel Certified Agency and Technology Partner Programs. Key benefits for partners include access to exclusive programs, consultations, and tools for optimizing product listings. Successful implementations have led to notable revenue growth for participants like Badgley Mischka. The initiative positions BigCommerce as a leader in omnichannel solutions.
BigCommerce has launched a self-service integration for U.S. merchants to utilize Buy with Prime, becoming the first ecommerce provider to do so. This app, developed in collaboration with Amazon, is expected to increase conversion rates by an average of 25%. It allows merchants to offer Prime shopping benefits, fast, free shipping, and an easy checkout experience without coding. The app aims to drive higher customer lifetime value and strengthen merchant relationships with shoppers. The launch is planned for Q1 2023.
BigCommerce has partnered with Microsoft Advertising to launch Microsoft Ads and Listings in the BigCommerce Marketplace. This new integration allows BigCommerce merchants in the US, UK, and ANZ to advertise their products to millions of potential customers across the Microsoft Advertising Network, including Microsoft Bing and Edge. Eligible merchants spending at least $250 on ads will receive $500 in free advertising credits. The platform offers tools for managing ad campaigns and optimizing performance in real-time.
BigCommerce Holdings plans to restructure its operations to accelerate its path to profitability, aiming for adjusted EBITDA breakeven in Q4 2023, ahead of the previous timeline of mid-2024. The company will reduce its workforce by approximately 13% and cut non-enterprise sales and marketing expenditures. The total estimated cost for the workforce reduction is around $4.2 million to $4.6 million. Additionally, BigCommerce is reevaluating its facility needs, estimating potential impairments between $2.0 million and $3.2 million.
BigCommerce (NASDAQ: BIGC) has announced its partnership with Sage to integrate its ecommerce platform with Sage 100 ERP software, becoming one of the first enterprise-focused platforms on Sage’s North American Marketplace. This integration allows businesses to modernize their online storefronts, improving operational efficiency and providing real-time updates for orders and customer data. The partnership aims to deliver significant benefits to Sage 100 customers, enabling better customer experiences and streamlined ecommerce operations.
BigCommerce (NASDAQ: BIGC) announces the launch of StagingPro, a tech integration for enterprise merchants, enhancing the staging and deployment process. StagingPro enables teams to rapidly develop and deploy multiple store builds from a single dashboard, minimizing risks. Key features include:
- Accelerated Production-to-Market Cycles for efficient project management.
- Secure Replicas for risk-free testing and deployment.
- Seamless Integration with tools like GitHub and Atlassian Jira.
StagingPro is currently available in the US, UK, and ANZ.
BigCommerce (NASDAQ: BIGC) reported a significant 32% increase in gross merchandise value (GMV) during Cyber Week 2022 compared to 2021. The successful five-day period also saw total orders rise by 25%. Black Friday and Cyber Monday were the peak sales days, with GMV up 31% and 32% respectively. Mobile sales decreased slightly to 38% of total orders, while alternative payment methods like buy now, pay later saw a notable increase of 25%. BigCommerce achieved 100% uptime during Cyber Week for the ninth consecutive year.
BigCommerce reported strong sales performance during the Thanksgiving and Black Friday shopping days. On Black Friday, the gross merchandise value (GMV) for BigCommerce merchants increased by 31%, with a 25% rise in total orders and a 4.5% boost in average order value (AOV) compared to 2021. Similarly, Thanksgiving sales rose by 23% in GMV and 22% in total orders. This growth outpaced overall retail sales growth, which was only up 1.4% on Black Friday and 2.9% on Thanksgiving. BigCommerce merchants are significantly benefiting from the current retail landscape.