It’s been quite interesting watching VTEX aggressively enter the North American and European markets in the last year. While VTEX has been a known player in the ecommerce industry for years in Latin America (LATAM), the company has been largely “unknown” here in the U.S. However, VTEX is starting to open some eyes with their unique product offering, value proposition, and recent validation from industry analysts. VTEX seems poised to establish themselves as a true global commerce platform provider.
That analyst recognition began earlier this year when Gartner recognized VTEX as a “Visionary” in its August 2020 Magic Quadrant for Digital Commerce. That momentum continued as IDC recently released its MarketScape Report on B2C digital commerce platforms, naming VTEX as a Leader. What’s also interesting is that as VTEX moved up to the leader category, some of the other major platforms either remained stagnant, or even took a step backwards. It would seem the industry analysts have come to understand how VTEX’s products can be implemented to address a number of merchant challenges.
As the only platform that integrates commerce, OMS and marketplace functionality in one platform, VTEX is well suited for the flexibility and agility that businesses need to adapt to today’s changing market conditions. This is especially valuable as we see more and more companies launching their own digital marketplaces, which traditionally have required a separate technology integration at substantial cost. The time and resources saved by removing the overhead tied to these integrations can enable merchants to invest in innovation and pursue other opportunities.
As noted, LATAM merchants, and the South American divisions of global brands, have long turned to VTEX for its high value to price point. With the additional validation by key industry analysts, VTEX is a credible solution for a variety of businesses. It will be interesting to see how VTEX capitalizes on that in 2021, and beyond.
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