G. Kalyan Kumar
VTEX, the composable and complete Omni Channel E-commerce platform for premier B2C and B2B brands, has unveiled 'VTEX Vision'.
The semi annual event is a strategic showcase of new products and out reach for big enterprise customers facing challenges such as rising costs of customer acquisition and other economic headwinds.
The company’s online press conference in this connection had some key announcements in relation to the Spring '24 edition of VTEX Vision.
Big targets
The company VTEX, listed on the New York Stock Exchange as (NYSE: VTEX) in its Spring '24 edition, aims to provide 3,500 online stores across 43 countries for its 2,600 global B2C and B2B customers.
The digital showcase is replete with exciting brand-new innovations and supercharged updates to boost the relevance of the VTEX platform for both B2B and B2C brands now and in the future.
VTEX is utilizing this interactive digital showcase (HYPER) to demonstrate the extensive options brands can take directly from their VTEX dashboard.
Right Time for Enterprise Businesses to Leverage E-Commerce
Addressing the Virtual Press Conference, Santiago Naranjo, CRO at VTEX, said: “In today's dynamic market, high interest rates and rising customer acquisition costs are serious challenges.”
Santiago Niranjo
This is a wakeup call to enterprise businesses to harness the power of a commerce platform like VTEX that consistently delivers high-quality products, fortifies organic sales channels, and amplifies profit margins.
According to Naranjo, the latest VTEX Vision innovations are part of the efforts to directly confront this strategic demand waiting to explode. By collecting feedback, data, consumer behavior, and industry trends, VTEX will be translating these insights into actionable solutions.
For the company, this is a crucial moment as it steps in to highlight the vast potential of a commerce platform tailored for today's enterprises and strong enough to face the challenges of tomorrow.
The new digital solutions of VTEX are explained below.
VTEX Ad Network for streamlining digital advertising
The VTEX Ad Network is designed to help businesses manage ad spaces efficiently across digital storefronts. It features AI-driven optimization, precision targeting, and robust security measures to maximize advertising effectiveness and revenue.
Enhanced Customer Engagement with WhatsApp
VTEX has integrated WhatsApp to facilitate personalized customer interactions. This feature allows businesses to send targeted campaigns and personalized cart recovery messages directly through WhatsApp, enhancing engagement and sales conversions.
VTEX FastStore Framework
Optimizing Web Experiences The VTEX FastStore framework is set to revolutionize front-end experiences by offering a suite of optimized UI components and a headless CMS. This platform caters to both B2C and specific B2B needs, such as integrating complex product catalogs and managing orders efficiently.
Faster Check out to Simplify E-Commerce Operations
The VTEX FastCheckout feature will enhance checkout experiences. As a result, businesses can customize their checkout processes using low-code and no-code options. This system integrates with VTEX FastStore to streamline the checkout experience and includes features like one-click purchases with Google Pay and Apple Pay.
VTEX Data Pipeline for broader integration
VETEX will streamline data integration by making the VTEX Data Pipeline facilitate the secure transfer of commerce data. This will allow businesses to customize data delivery and ensure compliance with data protection regulations. This tool is crucial for deriving actionable insights and driving business decisions.
VTEX Shield for Enhanced Security
Similarly, security enhancements with VTEX Shield will provide advanced security solutions, including a web application firewall and readiness service, to protect online storefronts from cyber threats and ensure seamless data security.
AI-driven e-Commerce Innovations
VTEX is all set to expand on AI and will be leveraging AI across its platform to enhance customer engagement and operational efficiency. Innovations include AI-powered live shopping experiences, intelligent search functionalities, and automated pick-and-pack systems to improve fulfilment as ways to minimize errors.
Pioneer in Omnichannel Digital Commerce
VTEX came to market as one of the pioneers in omnichannel commerce in the first decade of 2000 and had its way providing fully integrated end-to-end omnichannel commerce platforms to more and more important brands.
According to a media interview by Mariano Gomide de Faria, co-founder and Co-CEO of VTEX, he and co-founder Geraldo Thomaz started VTEX as a software company for Brazilian industries in the textile sector soon after they graduated from university.
The breakthrough in the e-commerce segment came in 2007 when Walmart approached them about creating a platform in Brazil. Since then, there has been looking back. Among the global brands on its platform are Coca-Cola, Colgate, Samsung, Nestle, Vans, etc.
Leading the Fourth Wave
Mariano had dubbed their service the ‘fourth wave’ of digital commerce platforms as “composable software.” The VTEX leader is optimistic that in the next few years this will scale up and can deliver complex scenarios of digital commerce at a very fast pace.
Mariano Gomide de Faria (Right) Co-Founder
VTEX Vision events, according to the official, will keep on introducing more innovative solutions and upgrades to support businesses in adapting to changing market conditions and consumer behaviors.
Ultimately, VTEX, which clocked a 34 percent rise in Q4 revenue at $60.7 million, is upbeat that these initiatives enhance customer retention and increase conversion rates solidly for enterprise brands.
