VTEX named a Challenger in the 2024 Gartner® Magic Quadrant™ for Digital Commerce report

Rhea-AI Summary

VTEX has been named a Challenger in the 2024 Gartner Magic Quadrant for Digital Commerce report, highlighting its growth in enterprise migrations from legacy platforms. The company reports that migrations to VTEX grew more than five times in 2022-2024 compared to 2019-2021. A Forrester study shows VTEX delivers 133% ROI, $17.1 million in additional revenue growth, and $5.8 million in savings from legacy platform migrations. The platform serves major brands including Colgate, Hearst, Calvin Klein, and Whirlpool, focusing on both B2B and B2C commerce solutions.

Positive

• Migrations from legacy platforms increased 5x in 2022-2024 vs 2019-2021
• Forrester study shows 133% ROI for customers
• Platform generates $17.1M in additional revenue growth
• Achieves $5.8M in cost savings from legacy platform migrations
• Recognition as Challenger in 2024 Gartner Magic Quadrant

Negative

• None.

Insights

Market Research Analyst

VTEX's recognition as a Challenger in Gartner's Magic Quadrant represents significant market validation, particularly given their 5x growth in migrations from legacy platforms. The Forrester study's findings of $17.1 million in additional revenue growth and $5.8 million in migration savings, coupled with a 133% ROI, demonstrate compelling economic benefits for enterprise customers.

Their success with major brands like Colgate, Calvin Klein and Whirlpool suggests strong market penetration in the enterprise segment. The platform's ability to handle both B2B and B2C commerce positions them well in the evolving digital commerce landscape where these boundaries are increasingly blurred. Their expansion strategy in the U.S. and EU markets, backed by proven success in complex markets, indicates strong growth potential in the enterprise commerce platform space.

Engineered for Growth, Driven for Success: VTEX is Taking on U.S. Legacy Commerce with the success of Customers like Colgate, Hearst, Calvin Klein, Whirlpool, and more.

NEW YORK--(BUSINESS WIRE)-- Enterprise brands are no longer accepting the limitations of legacy commerce platforms. In fact, in the past three years (2022-2024), migrations from legacy platforms to VTEX grew more than five times compared to the previous three-year period (2019-2021). As brands aim to grow without compromise, VTEX (NYSE: VTEX), the composable and complete commerce platform for B2B and B2C brands, has been named a Challenger in the 2024 Gartner® Magic Quadrant™ for Digital Commerce report. For VTEX, this acknowledges the platform’s ability to empower retailers, manufacturers, and distributors who are serious about growth to break free from the status quo.

“We’re not just a growth partner for brands thriving in the most demanding markets; we’re setting the standard as the commerce platform for grownups,” said Mariano Gomide de Faria, Co-CEO & Co-Founder of VTEX. “Our journey from navigating some of the world’s most complex markets to powering the U.S. digital commerce for brands like Colgate, Stanley Black & Decker, U.S. Electrical Services Inc., Hearst and more have shaped our approach. With our insights honed by experience and a playbook built through resilience, we’re proud to be named a Challenger by Gartner. We believe VTEX's ability to execute proves that we’re here to elevate standards that no longer serve the enterprise.”

A Born Contender with a Winning Track Record

Unlike industry players that began their journey in the stability of mature markets, VTEX was built in the crucible of unpredictability. The result has become a digital commerce platform that doesn’t just respond to change—it anticipates it. VTEX’s expertise in supporting brands overcoming high-stakes volatility and tight margins has made it the commerce solution for brands and businesses that demand both agility and reliability. VTEX's Total Economic Impact™, a study released in September 2023, conducted by Forrester Consulting and commissioned by VTEX showcases how VTEX delivers for modern enterprise businesses with:

• A 133% return on investment (ROI)

• $17.1 million in additional revenue growth

• $5.8 million in savings by migrating from legacy platforms

Driving Trends from the Americas to the World

VTEX is already a proven force in the global marketplace. From kickstarting the blurred lines between B2B and B2C digital commerce for manufacturers and distributors to introducing a modern frontend cloud within a commerce platform, along with conversational commerce and WhatsApp to the U.S. market, VTEX has consistently challenged the digital commerce landscape and industry norms. As demand for these cutting-edge innovations soars in the U.S. and Europe, VTEX is ready to deliver.

“Our customers don’t want a vendor; they want a partner who can forecast their next step and make it operational by Monday,” adds Mariano Gomide de Faria. “We’re continuing to expand in the U.S. and EU with precisely that in mind.”

For businesses ready to leave the predictable behind, VTEX isn’t just a solution—it’s a movement. Read the complete 2024 Gartner® Magic Quadrant™ for Digital Commerce report here.

Gartner, Magic Quadrant for Digital Commerce, 6 November 2024, Mike Lowndes, Sandy Shen, Jason Daigler, Aditya Vasudevan

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.

GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About VTEX

VTEX (NYSE: VTEX) is the composable and complete commerce platform that delivers more efficiency and less maintenance to organizations seeking to make smarter IT investments and modernize their tech stack. Through our pragmatic composability approach, we empower brands, distributors, and retailers with unparalleled flexibility and comprehensive solutions, enabling them to invest solely in what provides a clear business advantage and boosts profitability. VTEX is trusted by 2,600 global B2C and B2B clients, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool, having 3,500 active online stores across 43 countries (as of FY ended on December 31, 2023). For more information, visit www.vtex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241112462678/en/

Kate Adams

vtex@Pancomm.com

Source: VTEX

FAQ

What recognition did VTEX receive in the 2024 Gartner Magic Quadrant?

VTEX was named a Challenger in the 2024 Gartner Magic Quadrant for Digital Commerce report.

What ROI does VTEX deliver according to the Forrester study?

According to the Forrester Total Economic Impact study, VTEX delivers a 133% return on investment (ROI).

How much did VTEX platform migrations increase in recent years?

Migrations from legacy platforms to VTEX grew more than five times in 2022-2024 compared to 2019-2021.

What major brands use VTEX's commerce platform?

Major brands using VTEX include Colgate, Hearst, Calvin Klein, Whirlpool, and Stanley Black & Decker.