Brands and Retailers on BigCommerce Outperform Global Benchmarks with 26% Increase in Cyber Week Sales to Kick Off Crucial Holiday Shopping Season

Rhea-AI Summary

BigCommerce reported significant outperformance during Cyber Week 2024, with customers experiencing a 26% increase in gross merchandise value (GMV), surpassing the global average of 6%. The platform saw total orders increase by 13% and average order value (AOV) rise by 11%.

U.S. brands achieved a 27% GMV increase, while EMEA stores recorded even stronger results with a 39% GMV increase and 45% increase in orders. Top-performing sectors included apparel & accessories (52%), toys & games (44%), and sporting goods (38%). Mobile orders grew 7%, representing 35% of total orders, with iPhone accounting for 71% of mobile purchases.

The platform maintained 100% uptime during Cyber Week for the eleventh consecutive year, with the biggest sales increase occurring on Thanksgiving Day (36%), followed by Black Friday (28%) and Cyber Monday (25%).

Positive

• 26% increase in global GMV, significantly outperforming the global average of 6%
• 13% increase in total orders and 11% rise in average order value
• Strong EMEA performance with 39% GMV increase and 45% order increase
• Substantial growth in key sectors: apparel (52%), toys (44%), sporting goods (38%)
• 15% increase in social commerce GMV
• 100% platform uptime during peak trading period

Negative

• None.

Insights

Market Research Analyst

The 26% GMV growth during Cyber Week significantly outperforms the global average of 6%, demonstrating BigCommerce's strong competitive position in the ecommerce platform space. Key performance metrics show robust improvement across the board:

- Orders increased 13% (up from 7% last year)
- Average order value up 11% (versus 3% last year)
- Strong sector performance in apparel (52%) and toys (44%)

The platform's 100% uptime during peak shopping periods and increased adoption of modern payment methods (BNPL up 10%, social commerce GMV up 15%) indicate strong operational execution and consumer engagement. Geographic expansion is particularly notable in EMEA, with Italy showing exceptional 112% GMV growth.

Financial Analyst

For a company with a market cap of $583M, these results are particularly significant. The platform is demonstrating strong operational leverage by handling increased transaction volumes while maintaining stability. The diversification across payment methods and international markets reduces dependency on any single revenue stream.

Key financial indicators suggest healthy ecosystem growth:
- Higher AOV indicates potential revenue expansion
- Strong BNPL adoption points to effective monetization of payment flows
- Geographic expansion, particularly in EMEA, shows successful market penetration strategy

These metrics suggest potential positive impact on BigCommerce's Q4 revenue and merchant satisfaction metrics, though actual financial impact will depend on revenue-sharing agreements and platform fees.

2024 Cyber Week results find ecommerce sales grew for BigCommerce customers, as the platform marked 100% Cyber Week uptime for the eleventh consecutive year

AUSTIN, Texas--(BUSINESS WIRE)-- BigCommerce (Nasdaq: BIGC), a leading open SaaS, composable ecommerce platform for fast-growing and established B2C and B2B brands and retailers, today reported its customers significantly outperformed the global average with a 26% increase in gross merchandise value (GMV) during the five-day Cyber Week period.

In addition to the GMV growth, which was up from the 10% increase reported by BigCommerce for Cyber Week 2023, the data shows shoppers were more active and spent more this year. Globally, total orders increased 13% (compared to 7% last year), and average order value (AOV) was up 11% (compared to 3% last year). Overall, global online Cyber Week sales increased 6%, as reported by Salesforce.

“It is truly impressive and satisfying to see BigCommerce brands and retailers do so well during this critical Cyber Week period,” said Al Williams, general manager of B2C at BigCommerce. “The 26% GMV increase is the largest increase our customers have seen since we started reporting in 2021. In a year when holiday spending is expected to grow much less, these results reflect our customers’ innovation and quality products as well as the strength and flexibility of our platform to help them deliver fast checkout, high conversion rates and incredible buying experiences.”

The National Retail Federation has forecasted total 2024 holiday spending to grow between 2.5% and 3.5% over last year.

This year, U.S. brands and retailers experienced a 27% GMV increase, 10% order increase and 15% AOV increase during Cyber Week. According to Salesforce, the overall online sales increase in the U.S. was 7%.

"Our products might not be what people think of as typical holiday gifts, but Cyber Week is an increasingly important part of the year for UPLIFT Desk. Based on our sales over the last few days, there are going to be a lot of new desks and accessories under trees this year," said Daniel Burrow, vice president of sales and marketing at UPLIFT Desk. "As the foundation of our ecommerce operations, BigCommerce helps us provide an incredible shopping experience for our customers, making it easy for them to create the workspace of their dreams."

EMEA stores saw even bigger results: a 39% GMV increase and 45% increase in orders, driven by GMV increases of 112% in Italy and 38% in the UK.

"The Black Friday/Cyber Week time is critical for Soletrader's business as it is for many brands and retailers," said Marcel Bordon, CEO of UK-based Soletrader. "We are very encouraged by the results we achieved, particularly the growth in our online sales since replatforming to BigCommerce earlier this year. Our customers are loving the new features and functionality on our online storefront, and we will continue to innovate to improve their buying experience."

Additional 2024 Cyber Week highlights include:

• Globally, top-performing sectors by GMV increase were apparel & accessories (52%), toys & games (44%), sporting goods (38%), hardware & tools (24%), baby & toddler (24%), and food & beverage (21%).
• Mobile orders increased by 7% compared to Cyber Week 2023 and accounted for 35% of total orders. The iPhone accounted for 71% of mobile orders.
• The biggest sales increase occurred on Thanksgiving Day (36%), followed by Black Friday (28%) and Cyber Monday (25%).
• The Sunday of Cyber Week saw the biggest increase in the number of orders placed at 21%, followed by Thanksgiving with 20%.
• AOV increases were biggest on Cyber Monday with 16% and Black Friday with 15%.
• BigCommerce customers saw a 10% increase in Buy Now, Pay Later purchases this Cyber Week compared to last year.
• Alternate payment methods such as PayPal, Amazon Pay, and Apple Wallet increased 3% compared to Cyber Week 2023.
• GMV generated from social commerce platforms increased by 15% year-over-year, with BigCommerce customers also experiencing an 18% increase in orders placed through social channels.

Early holiday shopping results in October pointed to consumer resilience with a 4.59% year-over-year increase in core retail sales (excluding restaurants, auto dealers and gas stations), reported by the National Retail Federation. Similarly, BigCommerce customers saw positive numbers for online orders, GMV and AOV during October versus the previous year.

For more results and analysis, read the full report on the BigCommerce blog.

BigCommerce and Feedonomics leaders will discuss the results and other holiday shopping trends during a live event on LinkedIn at 11 a.m. CT today. Click here to attend.

Methodology

Cyber Week data from BigCommerce compares year-over-year (YoY) total platform sales metrics and represents the applicable period-on-period change that occurred Nov. 23-27, 2023 and Nov. 28-Dec. 2, 2024. It contains information from thousands of brands and retailers selling on the BigCommerce platform. Unless otherwise noted, the data is global.

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands and retailers of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Burrow, Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204870199/en/

Brad Hem

pr@bigcommerce.com

Source: BigCommerce

FAQ

What was BigCommerce's (BIGC) GMV growth during Cyber Week 2024?

BigCommerce reported a 26% increase in gross merchandise value (GMV) during Cyber Week 2024, significantly outperforming the global average of 6%.

How did BIGC perform in different regions during Cyber Week 2024?

U.S. brands saw a 27% GMV increase, while EMEA stores recorded a 39% GMV increase and 45% increase in orders, with Italy showing 112% GMV growth and the UK 38%.

Which were the top-performing sectors for BigCommerce (BIGC) during Cyber Week 2024?

The top-performing sectors were apparel & accessories (52% increase), toys & games (44%), sporting goods (38%), hardware & tools (24%), baby & toddler (24%), and food & beverage (21%).

What was BigCommerce's (BIGC) mobile order performance during Cyber Week 2024?

Mobile orders increased by 7% compared to 2023, accounting for 35% of total orders, with iPhone users representing 71% of mobile orders.