by Team AllYourVideogames | Aug 3, 2022 | Technology |
Anyone who works with e-commerce knows the importance of having a good online platform. There are several features to pay attention to, for example: payment integration, product registration, design of your virtual store, among many other features. Thus, one of the heavyweights in this segment is VTEX. but you know the what is the VTEX platform?
Among the companies that provide this type of service, VTEX is one of the most outstanding in the market, being one of the largest and most complete e-commerce platforms in Latin America.
If you don't already know this tool, don't worry. We have separated the most important information you need to know to let you know about this subject.
What is the VTEX platform?
VTEX is a multinational company from our country that creates technologies for the implementation and administration of stores made on the internet and e-commerce and omnichannel agreements.
It was founded in 2000 by Mariano Gomide and Geraldo Thomaz, both mechanical engineers and CEOs of VTEX.
On the market for a little over 20 years, the company has already managed to reach high levels. Here's a short timeline of achievements:
- In 2007, VTEX became an e-commerce platform supplier for Walmart in our country;
- In 2010 it launched the VTEX Commerce Suite service;
- In 2022 there was global expansion;
- In 2022, it received the investment in the US market and in the same year, VTEX received an investment of R$1,25 billion;
- In 2022 VTEX becomes a NYSE listed company.
In this way, VTEX has become a major e-commerce platform, which provides business model services in the scope of Business to Business (B2B), Business to Consumer (B2C) and Business to Employee (B2E).
Thus, it is worth noting that the company uses Software as a Service (SaaS) e-commerce technology.
Technology used on the platform
SaaS technology has the objective of helping the administration exercises of virtual stores and boosting sales.
In addition, it is responsible for the entire structure that allows the registration of products, the integration of payment methods, the integrated business management system, better known as ERP (acronym for Enterprise Resource Planning), freight, among other important resources for the functionality of the internet store.
“The premise of the SaaS model is to make the performance of applications occur independently of the client's infrastructure. The adoption of a service-based business architecture brings significant advantages to the e-commerce operation, such as: Cost reduction, Upgrades and security, Strategic focus, 24×7 Access, Adaptability”, explained the company.
Also according to VTEX, hosting on SaaS platforms allows the retailer to implement and manage all e-commerce actions according to market characteristics, customer demands and taking advantage of opportunities.
Thus, it unites the means of sales, dashboards, consumption history, and other tools that help manage the business in which the contracting party operates.
With these resources available, it is possible to obtain data and information that will assist in decision making.
Through this technology, the retailer can visualize concrete data, which can generate good results in the area where it provides services.
According to VTEX, this technology model means that the shopkeeper does not have to worry about the development of tools for the online platform, but only about the business.
Advantages of using the VTEX platform
People who are looking to set up an e-commerce need to spend a lot of time researching and selecting the best possible online platform, always keeping in mind the quality of service contracted and taking into account the cost benefit.
In this way, see some advantages of VTEX:
VTEX offers the Omnichannel service, but what is it? In short, it is a way to serve consumers in different channels, which can be essential for virtual stores to sell in more quantity.
The use of this technology makes the online store bring together all the communication channels with the customer in a single point, which makes it much easier for the retailer and for the people who buy.
It is worth noting that this union of channels integrates online and offline media, that is, it is useful for those who have in-person stores and a high volume of sales.
SmartCheckout is intended to speed up the process of checking customer data by asking for basic information at the time of the first purchase, and only one email from the second purchase onwards, as all data will be filled in automatically. , making the repurchase much simpler and more agile.
In addition, it is worth noting that the entire purchase process takes place on the same page. See the example below:
Regarding data security, according to VTEX, whenever the email is recognized, all information is filled in in a way that ensures that only the owner of the email recognizes the data.
In addition, at the time the customer completes the purchase, the credit card information will not be displayed in full. It will always be necessary to put the security code (the three digits that are on the back of the card), “ensuring greater security for your store and the consumer”, concluded the company.
One of VTEX's strongest points is the high proportion of personalization it offers merchants. There are hundreds of apps that allow you to do your digital commerce the way you want.
Thus, it opens the possibility of creating your own identity and increasing the chances of increasing the popularity of your virtual store.
This great variation in personalization allows your brand to create identification with your customers, which can help increase sales, since if the consumer considers that they received good service, when they make another purchase they will certainly remember your website.
Check out all VTEX apps.
4. Integration with Marketplace
Of the applications that VTEX offers, a cool asset is the VTEX Channel, which allows retailers to choose products they want to discount, facilitating campaigns and lower prices for consumers.
In this way, when doing your e-commerce using the VTEX platform, it is possible to integrate your marketplace easily and quickly.
Thus, with this unification, retailers will be able to manage the site with greater practicality, managing all the resources of a virtual store on a single platform.
VTEX has managed to grow more and more. The platform already has more than 2500 online stores in 32 countries, with 19 operating locations and more than 1200 employees worldwide.
In addition, the platform has strong customers. The main ones are: Lego, Disney, Whirlpool, Coca Cola, Red Bull, Suvinyl, Volvo, Nespresso and Pandora.
It is important to remember that the investment of R$1,25 billion made in 2022 favored the expansion of the brand. In this way, the company managed to enter a restricted group, the so-called unicorns, which are companies with a value greater than R$1 billion.
The pandemic accelerated the company's growth process. In July 2022, VTEX arrived on the New York Stock Exchange (NYSE) with a value of US$ 3,75 billion.
In addition, the company priced its share at $19, which is above the estimated price range of $15 to $17.
In this way, VTEX is a platform of great value in Latin America.
What is the value of the VTEX platform?
It is important to note that the VTEX platform is suggested for shopkeepers who have a monthly turnover of at least R$30 or for companies that are projected to reach this level.
Plans are divided into four monthly pricing categories: On Demand, Business, Corporate and Enterprise.
In each of the modalities, it is necessary to contact VTEX to view the consultation of values. However, when it comes to monitoring, maintenance and technical support, the service costs R$2.750,00 per month.
It is also important to note that VTEX charges a percentage per product order placed. Thus, each plan receives a different percentage. Check out the VTEX plans pages.
Learn More: How a clothing e-commerce store increased its sales by 3x using Facebook
Now you know what the VTEX platform is. The platform proves to be a great platform for you to start an e-commerce store, keeping in mind all the information you read throughout the post.
It is important to remember to always research as many tools and software as possible to reduce the margin of error and increase the chances of success, also being able to take advantage of social networks and digital marketing to manage your business.