BigCommerce Holdings Inc. (NASDAQ: BIGC) stock plunged by 0.27% at last close while the BIGC stock price fell by 3.10% in the after-hours trading session. BigCommerce is a prominent software-as-a-service (SaaS) ecommerce platform that helps merchants of all sizes to start, develop, and innovate their companies online.
BIGC stock’ Significant Development
BigCommerce announced that its merchants had another year of valuable revenue growth, outpaced the first-ever fall in aggregate US retail online sales over Cyber Week. Despite the decline, BigCommerce merchants grew at double-digit rates, breaking the trend with a 15% growth in gross merchandise volume (GMV) year over year. BigCommerce retailers’ Cyber Week revenues have surged by +103 percent in the last two years.
In October, BigCommerce merchants saw a rise in online sales, with the week of October 17–23 experiencing the highest jump in sales growth over the holiday season to date, and continuing to shine with a positive gain in Cyber Week GMV YoY. During Cyber Week, all critical metrics such as gross merchandise volume (GMV), orders, and average order value witnessed significant increases.
Despite the fact that overall ecommerce sales fell by 1.4 percent on Cyber Monday, BigCommerce merchants still came out ahead. For BigCommerce retailers, Cyber Monday was the most profitable of the peak cyber days, while Black Friday had the most orders.
Even as supply chain hurdles and other interruptions persisted, BigCommerce merchants’ GMV growth remained consistent with previous quarters. In comparison to Cyber Week 2020, all regions saw sustained GMV growth, with Asia-Pacific (APAC) leading the way. During Cyber Week, APAC saw the most substantial increases in GMV (+40% YoY) and orders (+42%) than any other region.
Brent Bellm, CEO at BigCommerce stated that,
They were ecstatic to observe BigCommerce merchants establish new holiday sales milestones in 2021, following the rapid rise of ecommerce in 2020. The efficiency and scalability of the BigCommerce platform, which attained 100 percent Cyber Week uptime for the eighth year in a row, helped them achieve above-industry sales results. They want to give BigCommerce merchants the edge that they require to outpace their competitors and outgrow in the new ecommerce era.