NEW YORK, September 14, 2021 — VTEX (NYSE: VTEX), the enterprise digital commerce platform for premier brands and retailers, leader in accelerating commerce transformation in Latin America and expanding globally, announced today it is the fastest-growing digital commerce application in the world in the top 20 as shown by IDC market share data.
This follows the IDC MarketScape: Worldwide B2C Digital Commerce Platforms 2020 Vendor Assessment (Doc #US45741420, September 2020), in which VTEX was named a ‘Leader.’ The latest IDC market share report also succeeds a milestone year for VTEX, having acquired three companies, opened two new offices and, most notably, gone public on the New York Stock Exchange.
“The era of siloed software is ending, and the era of connected software is on the rise,” said Geraldo Thomaz, co-CEO at VTEX. “VTEX is at the center of this revolution, helping enterprises drive digital commerce transformation and build customized experiences for their consumers. We have a network of businesses, consumers, suppliers and partners in LATAM, and we’re excited to continue extending this vision globally.”
The IDC Worldwide Digital Commerce Applications Market Shares, 2020 report (IDC #US46436521, June 2021) showed VTEX to be “one of the fastest-growing digital commerce applications vendors in the top 20 market shares,” and as one of five vendors who “shaped the year” with the biggest impact on the digital commerce applications market in 2020.
In the report, IDC calls out five factors that contribute to VTEX’s rapid growth: its cloud-native platform, reduced friction, focus on helping sellers differentiate, API-first platform and sustainable commerce support.
“VTEX’s IPO follows a rapid climb up the ranks of software providers in the digital commerce platform market over the past few years,” said Jordan Jewell, research director, digital commerce at IDC. “The platform’s technology-first approach to commerce is a great way for merchants to easily manage their ecommerce operations and expand into the marketplace sector.”
For more information about VTEX, its commerce and marketplace capabilities, and its work with some of the world’s largest brands, please visit www.vtex.com.
VTEX (NYSE: VTEX) provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Our platform enables our customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. Founded in Brazil, we have been a leader in accelerating the digital commerce transformation in Latin America and are expanding globally. Our platform is engineered to enterprise-level standards and features. We are trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries, who rely on VTEX to connect with their consumers in a meaningful way.*
*Figures as of FY ended on Dec. 31st, 2020