BigCommerce (NASDAQ: BIGC) has reported a significant increase in gross merchandise value (GMV) for its customers during the 2024 Cyber Week period. The platform's customers outperformed the global average with a 26% increase in GMV, up from the 10% increase reported for Cyber Week 2023. This growth is particularly notable considering the overall global online Cyber Week sales only increased by 6%, as reported by Salesforce.
In addition to the GMV growth, BigCommerce customers also saw a 13% increase in total orders, compared to 7% the previous year, and an 11% increase in average order value (AOV), compared to 3% the previous year. In the U.S., brands and retailers experienced a 27% GMV increase, a 10% increase in orders, and a 15% increase in AOV during Cyber Week, outperforming the overall online sales increase in the U.S., which was 7% as reported by Salesforce.
Specifically, EMEA stores saw even bigger results with a 39% GMV increase and a 45% increase in orders. Italy and the UK experienced notable GMV increases of 112% and 38% respectively.
Top-performing sectors by GMV increase globally 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, accounting for 35% of total orders, with the iPhone alone accounting for 71% of mobile orders. The biggest sales increase occurred on Thanksgiving Day (36%), followed by Black Friday (28%) and Cyber Monday (25%).
BigCommerce customers also saw a 10% increase in buy now, pay later purchases compared to last year, and alternate payment methods such as PayPal, Amazon Pay, and Apple Wallet increased by 3% compared to Cyber Week 2023.
Furthermore, 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.
These results reflect the continued growth and success of BigCommerce's customers, showcasing their innovation and the platform's ability to deliver fast checkout, high conversion rates, and exceptional buying experiences.
For more detailed results and analysis, the full report is available on the BigCommerce blog. Additionally, BigCommerce and Feedonomics leaders will discuss the results and other holiday shopping trends during a live event on LinkedIn. As a result of these announcements, the company's shares have moved 3.3% on the market, and are now trading at a price of $7.63. For the full picture, make sure to review BigCommerce's 8-K report.
