VTEX Recognized as a Leader in two IDC MarketScape reports on Digital Commerce for Midmarket Growth and a Customers' Choice by Gartner®

Following the delivery of 133% ROI and USD 5.8M in cost savings to enterprises migrating from legacy platforms, VTEX is named a Leader in two IDC Marketscape reports for B2B and B2C Digital Commerce for MidmarketGrowth and is recognized with a Customers' Choice distinction in Gartner Voice of the Customer report

NEW YORK, March 12, 2024 /PRNewswire/ -- VTEX (NYSE: VTEX), the composable and complete commerce platform for premier B2C and B2B brands, has garnered recognition from industry experts in just the first few months of 2024, which we believe solidifies our position as a global leader shaping the future of digital commerce:

• VTEX named a 'Leader' in IDC MarketScape: Worldwide B2B Digital Commerce Applications for Midmarket Growth 2023-2024 Vendor Assessment (doc #US50625723, December 2023) Read more here.
• VTEX is the sole vendor named a Customers' Choice in the 2024 Gartner® Voice of the Customer for Digital Commerce Report: 98% of VTEX customers are willing to recommend the ecommerce platform to peers and VTEX received an average customer rating of 4.8/5.0 based on 57 total reviews as of November 2023. Read more here.
• VTEX named a 'Leader' in IDC MarketScape: Worldwide B2C Digital Commerce Platforms for Midmarket Growth 2024 Vendor Assessment (doc #US50626123, January 2024): VTEX is the highest rated 'Leader' among 25 digital commerce vendors evaluated in the report. VTEX, and its pragmatic composability approach to digital commerce, is recognized for its versatility across various industries, including retail, CPG, grocery, manufacturing, distribution, and others. Read more here.

These reports follow the September 2023 Total Economic Impact™ Of The VTEX Digital Commerce Platform (TEI) study conducted by Forrester Consulting on behalf of VTEX. The study found enterprise brands that migrated to the VTEX platform benefited from both developer and marketing operations efficiency and the ability to support multiple business models (B2C, B2B, and marketplace capabilities) for a unified commerce approach on a single platform.

Real-world results from merchants unveil key benefits of VTEX: 133% return on investment; business growth yields an additional USD 17.1 million; savings of USD $5.8M after migrating from a legacy digital commerce platform to VTEX. Read more here.

"Being named a Leader from a leading analyst firm such as IDC, along with the Forrester TEI study, underscores the immense value global brands acquire when deploying VTEX's composable and complete platform. We believe this is also in line with our peer recognition as a Customers' Choice in the Gartner Voice of the Customer report for Digital Commerce", said Santiago Naranjo, CRO at VTEX. "VTEX is at the forefront of shaping the future of commerce. By streamlining digital commerce infrastructure, we're bringing profitable growth to enterprises in 43 countries around the globe."

Some of the enterprise brands that are ushering in a new era of digital commerce as new VTEX clients in 2023 include:

• 7-Eleven
• BeautyCounter
• Hearst
• H-E-B
• Kayser Roth
• Osklen
• Pierce Manufacturing
• Tiffany & Co.

To learn more about VTEX's industry recognitions, data-backed customer cases from B2C and B2B enterprise brands, and much more, click here.

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Gartner, Voice of the Customer for Digital Commerce, Peer Contributors, 30 January 2024

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About VTEX:
VTEX (NYSE: VTEX) is the enterprise digital commerce platform where forward-thinking CEOs and CIOs smarten up their investments. Our composable and complete platform helps brands and retailers modernize their stack and reduce maintenance costs by rapidly migrating from legacy systems, connecting their entire value chain, and making inventory and fulfillment their strength. As a leader in digital commerce, VTEX is trusted by 2,600 B2C and B2B customers, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool, having 3,500 active online stores across 43 countries (as of FY ended on December 31, 2023). For more information, visit www.vtex.com.

About IDC MarketScape
The IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

Contact: Walker Sands, [email protected]

SOURCE VTEX