Business Wire IndiaVTEX (NYSE: VTEX), the composable and complete commerce platform for premier B2C and B2B brands, announces the debut of ‘VTEX Vision’, a semi-annual product showcase to empower enterprise businesses striving to fuel their growth amidst increased customer acquisition costs and potential economic barriers to scaling their operations.
For it's Spring ‘24 edition, the semi-annual event will provide the platform’s customer base —2,600 global B2C and B2B customers with 3,500 online stores across 43 countries – a digital showcase of exciting brand-new innovations and supercharged updates to ensure the VTEX platform remains relevant for both B2B and B2C brands now and in the future. VTEX will also utilize this interactive digital showcase, available here, to demonstrate the extensive possibilities that brands can initiate directly from their VTEX dashboard.
"In today's dynamic market, where high interest rates and rising customer acquisition costs have become common challenges, enterprise businesses will need to harness the power of a commerce platform that consistently delivers high-quality products, fortifies organic sales channels, and amplifies profit margins," said Santiago Naranjo, CRO at VTEX. “Our VTEX Vision innovations directly confront this strategic demand. By collecting feedback, data, consumer behavior, and industry trends, we've translated these insights into actionable solutions. This marks a crucial moment where we highlight the vast potential of a commerce platform tailored for today's enterprises and the challenges of tomorrow.”
Below is a round-up of the biggest product news that VTEX will announce for the Spring ’24 edition (and global debut) of VTEX Vision:
VTEX Ad Network to Elevate Digital Reach and Conversion:
As businesses scale and face a notable 222% increase in the cost of acquiring new customers from 2013 to 2022, largely due to rising competition and ad expenses, the VTEX Ad Network emerges as a powerful solution. This innovative network allows businesses to create and manage ad space seamlessly across various digital storefronts, leveraging AI-driven optimization for higher conversions and click-through rates. Additionally, it offers precision targeting, competitive auctions, and comprehensive ad campaign monitoring to maximize revenue and streamline advertising efforts efficiently while ensuring robust security measures protect valuable data and operations.
Getting Personal with WhatsApp and VTEX:
Utilizing one of the most popular messaging platforms in the world, WhatsApp, VTEX opens doors for personalized sales conversion tactics, empowering 2,600 enterprise brands to engage customers effectively. The integration of WhatsApp Business Account creator in the VTEX Admin streamlines targeted campaigns, AI-driven customization, personalized cart recovery messages, and real-time campaign monitoring, all designed to maximize conversions and enhance customer experiences. This collaboration brings a seamless blend of technology and communication, driving brand engagement and sales growth in today's dynamic digital landscape.
Delivering Superior Web Experiences beyond B2C Commerce with VTEX FastStore:
Elevating the frontend experience is no longer an unnecessary luxury for any brand in ecommerce. VTEX FastStore will enhance customer experiences to another level of speed through a suite of commerce-optimized UI components, a comprehensive front-end platform and framework with performance metrics, and a Headless CMS for independent content management. Currently available for B2C storefronts, FastStore will also unlock specific B2B needs, including seamlessly integrating complex product catalogs, customizing pricing levels, and efficiently managing orders and buyer organizations. FastStore's extensive ecosystem also offers scalability, with over 6,000 VTEX IO extensions created by third parties, 1,000 SIs and ISVs, 330 marketplaces, 180 payments solutions and 90 logistics companies, among others.
Frictionless Commerce with a low code/no code VTEX FastCheckout and one-click-buy with Google Pay and Apple Pay:
Crafting an optimized checkout experience involves balancing customization and performance, a challenge that often leads to suboptimal experiences and lost sales. VTEX's FastCheckout tackles this by leveraging VTEX FastStore power, offering low-code and no-code options for building and integrating new functionalities and UI elements. This streamlined approach allows brands to customize their checkout experience without compromising performance, with real-time previews and intuitive tools ensuring efficient changes. Additional features include extensive APIs for flexibility, seamless integration across sales channels, and customizable checkout flow like one-click-buy with Google Pay and Apple Pay tailored to unique branding and customer journey needs.
Gather all of your data from your commerce operation with VTEX Data Pipeline:
Unlocking actionable insights from digital commerce data is crucial for business success, yet high costs and complex integrations often pose challenges. VTEX Data Pipeline offers a streamlined solution for data sharing, ensuring secure and direct delivery of commerce data to your infrastructure. With a diverse range of datasets available, customize update frequencies and destinations, while maintaining GDPR compliance and data security. VTEX Data Pipeline empowers brands to access valuable insights, make informed decisions, and drive growth effectively.
Future-proof your storefront from cyber attacks and fraudulence with VTEX Shield:
Protecting your online store is a continuous task that requires constant attention, which VTEX ensures is provided to all brands. VTEX Shield is an additional layer providing a robust security solution designed to empower merchants with proactive monitoring, advanced threat detection, and efficient vulnerability management. Its key features include an advanced Web Application Firewall for safeguarding against online threats, a Pentest Readiness Service for running penetration tests, and a Security Monitor dashboard for proactive threat management. With VTEX Shield, businesses can effectively detect and mitigate security risks, enhance traceability, strengthen security barriers, and improve Personally Identifiable Information (PII) data security.
Supercharging your favorites with AI:
VTEX is also making significant strides in strategically leveraging advanced AI capabilities across its flagship products, and these fresh solutions will empower enterprises to maintain a competitive edge and achieve their objectives in today's dynamic market environment. By harnessing AI, VTEX aims to expedite time-to-market, optimize operational costs, and drive substantial growth in customer GMV. These AI-powered enhancements will be integrated into:
- Live Shopping, powered by AI Chat functionality, will help VTEX customers create engaging and interactive shopping experiences, allowing them to receive immediate assistance, ultimately increasing customer satisfaction and conversion rates.
- VTEX AI-Powered Intelligent Search: will help VTEX customers detect user behavior patterns, automatically identify and propose alternatives for search terms, and boost conversion rates.
- VTEX Pick and Pack: operations improve fulfillment, reduce errors, and enhance efficiency for customers, by reducing human error and improving the customer experience by leveraging AI to approve or reject customer return requests automatically.
VTEX also enhanced its Marketplace solution for B2B and B2C businesses by improving seller and product onboarding. These upgrades accelerate time-to-revenue, reduce operational burdens, and optimize fulfillment. VTEX Vision also brings on a more efficient Order Management System (OMS), facilitating change orders and improving communication between merchants and shoppers. This is to support the new update for VTEX Sales App, which will feature advanced functionalities for efficiently managing new product arrivals and top offers, as well as the ability to recover abandoned shopping carts and check inventory. VTEX Vision Spring ‘24 edition also brings VTEX Delivery Promise, a fulfillment-related feature which prompts visitors to input their location, showing only deliverable products, offering delivery time filters like 'same day delivery', enabling store pickup, and displaying available delivery times on product pages.
This is just the beginning of an exciting journey. Twice a year, VTEX Vision will unveil a wave of new innovative solutions and upgrades, empowering brands to stay agile as they innovate, optimize, and grow. With each VTEX Vision launch, the platform’s focus remains unwavering on enterprise strategies, technological advancements and consumer trends that enhance commerce for all. Ultimately, VTEX’s objective is to improve customer retention and increased conversion rates for enterprise brands. Dive deeper into the innovations for VTEX Vision, the platform's spring product showcase, right here.
