Backed by real-world data and comprehensive research, The Total Economic Impact™ Study finds merchants saved time and cost, experienced business growth and increased revenue retention after replatforming to BigCommerce
AUSTIN, Texas--(BUSINESS WIRE)--Aug. 31, 2023--
BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today announced the results of its commissioned Total Economic Impact™ study conducted by Forrester Consulting. The study found that a composite organization comprised of merchants with experience using BigCommerce achieved a 211% ROI with a payback period of eight months, and a net present value of $5.42 million, after migrating from legacy platforms.
The study evaluated the cost savings and business benefits of five anonymous merchants using BigCommerce to determine financial impact over a three-year period.
“The study's findings reaffirm for us the unquestionable value that BigCommerce’s enterprise-grade ecommerce platform provides sophisticated and growing B2C and B2B merchants,” said Meghan Stabler, senior vice president at BigCommerce. “We feel it also demonstrates the transformative impact our platform has on enterprises, even amidst a challenging macroeconomic landscape. These results demonstrate, in our opinion, the commitment and innovation behind BigCommerce's focus to offer the most comprehensive, cost effective and flexible ecommerce solution available."
Before launching on BigCommerce, the five merchants used different ecommerce platforms for their online stores. Each merchant faced a number of challenges on their legacy solutions such as operational inefficiencies, website performance issues and poor customer experience. Lacking the scalability and flexibility to grow their business, these merchants migrated to BigCommerce and quickly saw significant results that include:
Time savings of 50% to 90% for developers using BigCommerce’s open API features, the time savings realized by developers is worth around $188,000.
Time savings of 30% to 40% related to updating ecommerce site content and catalog is worth around $244,000.
Business growth from a 10% to 30% improvement in site traffic conversion rate and 5% improvement in average order value (AOV).
Over $300,000 in revenue retention from better site performance and availability after migrating to BigCommerce.
Over $774k in cost savings from retiring legacy solution.
Unquantified benefits include better CX, expansion into new markets (via Feedonomics) and strong customer support.
After the investment in BigCommerce, merchants shared they were able to realize time savings in various activities, improved operational efficiency and time-to-value in website changes, leading to revenue growth and better customer satisfaction.
As one web developer at a fashion brand expressed: “We’ve doubled our sales from last year. I’d say that’s due in large part to the scalability that BigCommerce offers you. There’s nothing BigCommerce hasn’t been able to handle for us.”
And a marketing director at a business supplies company said: “[With BigCommerce], time is no longer an issue for our marketing team if they want to scale and launch new products. It’s just a matter of having the right information in place.”
Ted Baker, MKM Building Supplies, Jimmy Brings, Cambio Bike, King Arthur Baking Company and Selle Italia are just a few enterprise brands using BigCommerce to grow and scale worldwide.
For a deep dive into Forrester’s findings and data, and how to save valuable time, increase ecommerce site conversion and unlock new ways of growing revenue, download the full Forrester Total Economic Impact™ of BigCommerce study.
TEI Framework and Methodology
This study is a commissioned study conducted by Forrester Consulting on behalf of BigCommerce and results are based on a composite organization. From the information provided in the interviews, Forrester constructed a Total Economic Impact™ framework for those organizations considering an investment in BigCommerce. The objective of the framework is to identify the cost, benefit, flexibility, and risk factors that affect the investment decision. Forrester took a multistep approach to evaluate the impact that BigCommerce can have on an organization.
BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Solo Stove, Ted Baker and Vodafone. Headquartered in Austin, BigCommerce has offices in London, Kyiv, San Francisco, and Sydney. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.
BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.
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