VTEX Digital Commerce Platform Sees Significant Momentum From B2B Brands Across the World

Rhea-AI Summary

VTEX (NYSE: VTEX) reported strong momentum in its B2B ecommerce platform, utilized by global brands such as Colgate and Mazda. The platform enhances businesses' digital operations and has seen notable successes, including a 496% increase in Colgate's monthly sell-out rate. Industry predictions suggest B2B ecommerce sales could reach $2.5 trillion by 2026. VTEX's solutions, including native functionalities for marketplaces and order management, are tailored to complex B2B needs, offering clients seamless digital commerce experiences.

Positive

• B2B ecommerce sales expected to reach $2.5 trillion by 2026, highlighting industry growth.
• Colgate reported a 496% increase in monthly sell-out rates after implementing VTEX.
• Mazda's online Vehicle Stock Locator showed a conversion rate of over 75%.

Negative

• None.

NEW YORK, Nov. 17, 2022 /PRNewswire/ -- VTEX (NYSE: VTEX), the enterprise digital commerce platform for premier brands, retailers, and distributors, today announced strong momentum with the success of its B2B ecommerce platform, currently in use by global brands, including Colgate, Stanley Black & Decker, Mazda, Whirlpool, Briggs & Stratton, CAE and many others. As a PCI-certified B2B SaaS solution, VTEX enables businesses to rapidly build and deploy B2B commerce sites and multi-seller marketplaces, addressing the changing dynamics of digital business operations.

Mazda Motor Europe is just one customer seeing the benefits of working with VTEX to transform its digital commerce operations. After working with VTEX to roll out the first online Vehicle Stock Locator for new cars across all UK Mazda dealerships, Mazda's conversion rate from reservation to sales grew to more than 75%*. "This initial step in transforming our buying experience has generated some great feedback from dealers and customers," said Matthias Sileghem, Vice President for Communications & Public Affairs at Mazda Motor Europe. "From the start, VTEX has shown incredible agility and commitment to turning our vision into reality."

In its B2B Ecommerce in Evolution Report, Amazon Business highlighted that the vast majority (91%) of buyers prefer e-procurement over traditional methods, citing product range, competitive prices, and order speed as the top benefits. On top of that, industry experts estimate that B2B ecommerce sales will reach nearly $2.5 trillion by 2026 -- a 47% increase from this year. VTEX's B2B digital commerce platform delivers native functionalities for marketplace, distributed order management and channel management, with which it has been supporting enterprise companies from around the world to meet the growing demand for B2B ecommerce and improve profit margins.

"B2B ecommerce can be more complex than B2C. Every business has different and specific needs from the implementation to strict security protocols and data privacy," said Mariano Gomide de Faria, founder and co-CEO of VTEX. "By offering a robust, composable solution, our mission is to support these businesses' complexities so our customers can deliver frictionless consumer-like digital commerce experiences that support the entire B2B customer journey.

With its native development platform, VTEX IO enables extensions, integration to back-end systems and development of custom applications. The solution can also be deployed in a headless configuration with third-party content management systems. In partnership with Amazon Web Services "AWS", VTEX offers a true multi-tenant solution allowing clients to test new features with very low cost, thanks to its composable architecture.

VTEX's customers have seen a significant impact to their businesses after deploying their ecommerce sites to serve B2B sellers, including:

• Colgate has oral care consultants that work as B2B salespeople responsible for visiting dentists to educate them about the newest products. Consultants don't cover every region, so Colgate needed a solution to bring this process online. With VTEX's comprehensive platform, Colgate added promotion and catalog solutions tailored to its business at record speed -- going live in under 100 days. Since launching its marketplace for B2B sales consultants, the average monthly sell-out rate has increased by 496% YoY*. Also, the direct-to-consumer (DTC) channel experienced growth of over 45% in incremental units sold* and an increase of 908% YTD in first-party data acquisition* through the platform.
  
  "We invested in the VTEX technology to deliver the best oral care marketplace for dentists, and we believe that the continued focus on product customization adds a lot of value to our dentist customers. Another amazing part of this project is the availability. Now, dentists can order any product they want, at any time. We have a broader range of delivery and covered areas, and dentists are making more orders, more frequently," says Danilo Turbiani, Ecommerce director at Colgate-Palmolive Brazil

• Stanley Black & Decker's sales representatives spent a considerable amount of time placing, reviewing, and changing orders before implementing VTEX. Leveraging the VTEX digital commerce platform APIs, Stanley Black & Decker built a custom headless field sales application that gave each sales rep their dashboard with customer insights, including behavior and preferences, order history, and additional data to help them provide personalized service to each customer. With VTEX, nearly 50% of Stanley Black & Decker's B2B orders are now made through the bulk order feature, saving sales reps countless hours of line-by-line order entry and eliminating the potential for incorrect orders due to human error.

• Mazda: The way consumers purchase vehicles has transformed significantly as a result of the pandemic. Sales transactions that once started in a showroom are increasingly beginning online. According to Google, global searches for "car sales" have grown by over 60% year over year since 2019 and now 92% of car buyers are researching online before they buy. To address this dynamic change in consumer behavior, Mazda partnered with VTEX to deploy its first online Vehicle Stock Locator for new cars across all Mazda UK dealerships. Since its launch, the locator has received positive feedback from dealers, reporting better qualified leads and improved sales efficiency. In fact, 60% of customers are coming via dealer websites to the stock locator and 85% of those result in conversion.

• CAE: As a global leader in simulation technology and training for complex industries, the company needed a bold digital transformation. To meet customer demands, they wanted a more intuitive and seamless customer experience. With the help of VTEX and its single platform for B2B and B2C commerce, CAE implemented five B2B and B2C ecommerce websites in just 8 months. These sites ranged from medical instruction to business aviation learning to the complex landscape of simulation training.

• Briggs & Stratton chose VTEX for B2B projects across three different business units leveraging VTEX's native multi-site, multi-language and multi-currency capabilities in the US. With a single account and a single digital commerce platform, VTEX enabled Briggs & Stratton to eliminate two legacy commerce platforms, reducing maintenance costs. By unifying everything under one technology stack, VTEX delivers value through operational efficiency.

The VTEX digital commerce platform also received recognition from industry analyst firm Paradigm B2B in its B2B Combine: Enterprise Edition and Midmarket Edition reports. Informed by leading B2B ecommerce practitioners, VTEX received three gold medals, four silver medals, and five bronze medals in 12 categories in the Midmarket Edition: Ability to Execute; Customer Service & Support; Partner Ecosystem; Total Cost of Ownership; Vision & Strategy as well as Content & Data Management; Integrations, Operations & Infrastructure; Marketplaces; Promotions Management; Sales & Channel Enablement; Site Search and Transaction Management.

To learn more about VTEX's B2B solution, visit vtex.com/us-en/b2b-commerce/.

About VTEX

VTEX (NYSE: VTEX) is the enterprise digital commerce platform where global brands and retailers run their world of commerce. VTEX puts its customers' businesses on a fast path to growth with a complete Commerce, Marketplace, and OMS solution. VTEX helps global companies build, manage and deliver native and advanced B2B, B2C, and Marketplace commerce experiences with unprecedented time to market and without complexity. As a leader in digital commerce platforms, VTEX is trusted by more than 2,400 customers, such as AbInBev, Carrefour, Colgate, Motorola and Whirlpool, having over 3,200 active online stores across 38 countries (as of FY ended on December 31st, 2021). For more information, visit www.vtex.com.

Press Contacts For VTEX 
Method: vtex@methodcommunications.com

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SOURCE VTEX

FAQ

What is VTEX's recent announcement about its B2B ecommerce platform?

VTEX announced significant momentum with its B2B ecommerce platform, utilized by major global brands.

How has Colgate benefited from VTEX's platform?

Colgate experienced a 496% increase in its monthly sell-out rate after launching its B2B marketplace with VTEX.

What predictions are made for B2B ecommerce sales by 2026?

B2B ecommerce sales are expected to reach nearly $2.5 trillion by 2026.

What notable success did Mazda achieve using VTEX?

Mazda's online Vehicle Stock Locator achieved a conversion rate of over 75%.

Which brands are currently using VTEX's B2B ecommerce platform?

Brands like Colgate, Mazda, and Stanley Black & Decker are using VTEX's B2B ecommerce platform.