AUSTIN, Texas – BigCommerce (NASDAQ: BIGC), a key player in the open SaaS and composable ecommerce platform space, announced a significant series of platform enhancements, including over 100 new features and integrations.
This announcement was made during its Next Big Thing product launch event, which marks a notable advancement in the company’s offerings for B2C and B2B brands and retailers.
The updates include a focus on multi-storefront capabilities, allowing brands to create localized buying experiences for different regions, with tailored content, pricing, and promotions. This is aimed at improving conversion rates and reducing operational costs. Moreover, the platform now offers unique checkout experiences for each storefront to maintain a local feel while managing operations from a centralized back-end.
In an effort to simplify the creation of modern, composable storefronts, BigCommerce introduced Catalyst, a starting point for building online stores with a composable architecture. Catalyst combines popular headless technologies and best practices into a reference storefront, aiming to increase development speed without compromising quality.
Another key area of development is the integration of AI through BigCommerce’s BigAI suite. This includes BigAI Copywriter, which employs generative AI to draft SEO-optimized product descriptions, and BigAI Predictive Analytics, designed to predict the future customer lifetime value using the platform’s native Google (NASDAQ:) BigQuery integration.
For B2B sellers, BigCommerce is launching new tools to enhance buyer experiences with customization and localization. The B2B Edition is now globally available for single and multi-storefronts, and the company plans to open-source its B2B Buyer Portal to allow businesses to create bespoke applications tailored to their specific needs.
To streamline multichannel selling, BigCommerce subsidiary Feedonomics is introducing event-driven real-time sync, enabling brands to update key attributes like inventory and pricing in a timely manner, which helps prevent listing disapprovals and account suspensions.
The platform is also introducing new passwordless checkout solutions, advanced promotions capabilities, and AI-powered personalization to help brands increase conversion rates. PayPal (NASDAQ:)’s new Fastlane checkout solution is highlighted as a feature that can significantly speed up the checkout process for U.S. customers.
Operational efficiency improvements include a modernized user interface for the BigCommerce control panel, enhanced catalog maintenance tools, and enterprise-grade permission settings for better security management.
BigCommerce’s commitment to developers is underscored by the launch of its Developer Center, which provides documentation, guides, and tools, as well as a central place for a community of experts. The platform is making public its Figma UI kit and introducing new APIs to extend platform capabilities.
This news is based on a press release statement and reflects BigCommerce’s efforts to innovate and provide flexible, customer-centric solutions in the ecommerce space.
InvestingPro Insights
As BigCommerce (NASDAQ: BIGC) forges ahead with its latest platform enhancements, investors and stakeholders are closely monitoring the company’s financial health and stock performance. According to InvestingPro data, BigCommerce boasts a robust Gross Profit Margin of 76.02% for the last twelve months as of Q4 2023, underlining the company’s impressive ability to retain a significant portion of its sales revenue after accounting for the cost of goods sold.
This strong margin is a testament to the company’s operational efficiency and is particularly noteworthy as it rolls out new features aimed at reducing operational costs for its users.
Despite not being profitable over the last twelve months, with an Operating Income Margin of -18.02%, BigCommerce’s stock is currently trading near its 52-week low, with a Price / Book ratio standing at 17.72. This could signal a potential opportunity for investors, as highlighted by one of the InvestingPro Tips, which points out that the stock is in oversold territory.
The same set of tips also notes that analysts are predicting the company will turn profitable this year, providing a glimmer of hope for future financial performance.
Moreover, BigCommerce’s liquid assets exceed its short-term obligations, indicating a solid liquidity position that can support its ambitious product development and market expansion strategies. For those interested in deeper analysis, there are 6 additional InvestingPro Tips available that offer further insights into BigCommerce’s stock performance and financial metrics. To gain access to these valuable tips, visit https://www.investing.com/pro/BIGC and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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