BigCommerce Merchants See 14% GMV Increase On Thanksgiving And 6% GMV Increase On Black Friday
Portfolio Pulse from Benzinga Newsdesk
BigCommerce (NASDAQ:BIGC) reported a 14% increase in GMV on Thanksgiving and a 6% increase on Black Friday compared to last year, outpacing the broader industry. Total orders and AOV also saw increases. The company attributes this to its platform's capabilities and conversion rates. The NRF expects U.S. holiday sales to grow 3-4% over 2022. BigCommerce's Q3 data shows a high sitewide conversion rate, with enterprise stores using its hosted Stencil platform, checkout, PayPal Wallet, and ApplePay performing well above the internet average.
November 27, 2023 | 4:46 am
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BigCommerce reported significant sales growth during the start of Cyber Week, with a 14% GMV increase on Thanksgiving and 6% on Black Friday. The company's high conversion rates and platform capabilities are likely contributing factors to this performance.
The reported increases in GMV, total orders, and AOV for BigCommerce during a key shopping period are likely to be viewed positively by investors. The company's performance, which outpaced broader industry trends, suggests a competitive advantage and operational efficiency that could lead to increased investor confidence and potential stock price appreciation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100