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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 28, 2023
BigCommerce Holdings, Inc.
(Exact name of registrant as specified in charter)
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Delaware |
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001-39423 |
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46-2707656 |
(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification Number) |
11305 Four Points Drive
Building II, Suite 100
Austin, Texas 78726
(Address of principal executive offices, including zip code)
(512) 865-4500
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
□Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
□Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
□Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
□Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Series 1 Common Stock, $ 0.0001 par value per share |
BIGC |
The Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
□ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □
Item 7.01 Regulation FD Disclosure.
On November 28, 2023, BigCommerce Holdings, Inc. (the “Company”) issued a press release.
The press release issued November 28, 2023, is furnished herewith as Exhibit 99.1. The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as otherwise stated in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BigCommerce Holdings, Inc. |
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Date: |
November 28, 2023 |
By: |
/s/ Daniel Lentz |
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Daniel Lentz, Chief Financial Officer |
Exhibit 99.1
BigCommerce Customers Start Critical Holiday Shopping Season Strong with 10% Increase in Cyber Week Sales
2023 Cyber Week results find ecommerce sales grew for BigCommerce customers, as the platform marked 100% Cyber Week uptime for the tenth consecutive year
AUSTIN, Texas — November 28, 2023 — BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today reported its customers experienced another year of increased Cyber Week sales, surpassing what has been another successful start to the holiday shopping season for the retail industry.
From Thanksgiving through Cyber Monday, there was a marked increase of 10% in gross merchandise value (GMV) for BigCommerce merchants compared to the same period in 2022. Shoppers were more active this year too with total orders up 7%. They spent more as well as reflected by a 3% increase in average order value (AOV), compared to Cyber Week 2022. Overall US ecommerce sales for the period were up 7.8% over 2022, according to Adobe Analytics. Global ecommerce sales were up 6% over the five-day period, according to Salesforce.
“Cyber Week closed with a 12% spike in year-over-year sales on Cyber Monday, signaling consumers’ urgency to capitalize on deep discounts before they were gone,” said Brent Bellm, CEO at BigCommerce. “Even with the holiday shopping season and retailer promotions starting earlier, these five days remain critical to retailers’ success. The 12% increase on Thanksgiving Day likely reflects that cost conscious consumers did their homework in advance – earmarking the exact items they want and then waiting for retailers to layer on early deals before pulling the trigger.”
BigCommerce merchants on the company’s enterprise plans experienced even higher GMV and order growth over 2022.
Additional 2023 Cyber Week highlights include:
•Mobile orders accounted for 38% of all Cyber Week orders, a slight increase from last year. Notably, however, the percentage of sales on mobile devices increased by a more substantial 13% in 2023.
•Top-performing categories by GMV increase were Apparel & Accessories (+22%), Food & Beverage (+20%) and Vehicles & Parts (+20%).
•Cyber Week was a big hit in EMEA, where GMV surged 20% on a 10% increase in total orders.
•The biggest sales volumes occurred on Black Friday and Cyber Monday. Black Friday GMV was up 8% and Cyber Monday GMV was up 12% over 2022. Total orders on Cyber Monday were up 10% over last year.
•Shoppers were most active from 2-3pm on Cyber Monday and from 10-11am on Black Friday.
•Amazon was the standout among marketplaces with highest GMV and most orders for BigCommerce merchants, followed in GMV by eBay and Walmart.
“It’s gratifying to see BigCommerce customers perform well and benefit from our platform achieving 100% uptime for the tenth year in a row,” Bellm said. “Our open, simplified approach to enterprise
Exhibit 99.1
ecommerce delivers the competitive advantage brands and retailers need to succeed around the world and across multiple sales channels.”
Early holiday shopping results in October pointed to consumer resilience with a 5.9% year-over-year increase in online spending reported by Adobe Analytics. Similarly, BigCommerce customers saw positive numbers when it came to online orders, GMV and AOV for the month of October versus the previous year.
For more results and analysis, read the full report on the BigCommerce blog.
Methodology
BigCommerce’s Cyber Week data is based on a comparison of year-over-year total platform sales metrics and represents the applicable period-on-period change that occurred Nov. 24-28, 2022, and Nov. 23-27, 2023. It contains information from thousands of small, mid-sized and enterprise retailers selling on the BigCommerce platform. Unless otherwise noted, the data is global.
About BigCommerce
BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers brands and retailers of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers 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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Media Contact
Brad Hem
pr@bigcommerce.com
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