VTEX, the fastest-growing e-commerce platform in the world, has been named a “visionary” in Gartner’s August 2020 Magic Quadrant for Digital Commerce. Gartner’s annual report is a must-read for B2B and B2C vendors looking to adopt digital commerce platforms. Having entered the quadrant in 2017 as a “niche” player, VTEX has now been promoted to the “visionary” rank. The Magic Quadrant analyses players according to their ability to execute and completeness of vision.
“We’re proud of the modern, flexible and scalable e-commerce and marketplace solutions we bring to VTEX customers, so for us, it is thrilling to be recognised by Gartner as a visionary in our space,” said Amit Shah, Chief Strategy Officer and U.S. General Manager at VTEX. In the last year, VTEX has grown its customer base, further enhanced its offering, and secured $140 million to fund expansion into North America, Europe and Asia.
The Brazilian platform was the first Latin American software to be referenced in the quadrant, which names the top 15 players worldwide, placing them as challengers, niche players, visionaries and leaders. VTEX is now aiming at the top leaders’ quadrant, with the heavyweights SAP, Adobe, Oracle and Salesforce.
Digital revenue up and away
Online spending hit $82.5 billion in May, up 77% from the previous year, according to an Adobe Analytics report. With the COVID-19 pandemics forcing businesses to open new spaces online, Gartner predicts that digital transformation will bring the very much anticipated good news: “By 2023, organisations that have operated enterprise marketplaces for more than one year will see at least a 10% increase in digital revenue.”
Registering a sharp growth, VTEX is the first and only solution with fully integrated commerce, marketplace and order management, delivering the fastest time-to-revenue and no upgrades. Over 3,000 customers in 40 countries use VTEX to accelerate and transform their commerce, including Sony, L´Oréal, Nestlé, Coca-Cola, Pizza Hut, Walmart and Whirlpool.
“Partnering with VTEX has simplified our online ordering process and expanded our contactless pick-up and delivery, giving us the agility and flexibility to not only keep customers at the heart of everything we do, but also do it safely and effectively in unprecedented times,” said France Roy, Global Head of Engineering at the multinational drink company AB InBev.
Another strong differentiator is the fact that the platform increases conversion rates with an advanced search engine that uses Artificial Intelligence to understand shopper intent and return relevant search results. It also offers highly personalised promotions and experiences, frictionless transactions, subscription business model and rapid service delivery.
Exago and Número 7 join efforts to innovate online business from branding to sales
Based on the VTEX technology, N7 e-commerce is the result of a partnership between Exago and Número 7. Its offering is supporting businesses from branding to sales, to plan, build, operate and promote their online stores and grow digital sales. Clients can count on a full support team to optimise VTEX potential, benefiting from Número 7’s marketing experience in over 100 successful e-commerce projects, and Exago software’s track-record and expert consulting in helping companies innovate across sectors.
By combining marketing and innovation expertise with the best e-commerce technology on the market, N7 e-commerce enables companies to conquer their space in the digital world.
Get in touch with Bruno Marques da Silva, our Sales Executive, to learn how you can reach new clients and markets with N7 e-commerce: bms@exago.com
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.