Wix, a website-builder-as-a-service platform that supports ecommerce sites, announced that it will integrate payments from Global-e for its users. The partnership, detailed in a Feb. 20 press release, will open up options for merchants using Wix sites to enable international transactions for purchases.
Functionally, the partnership means checkout experiences can be localized with support for multiple currencies. That means merchants will gain flexibility in positioning their web stores for customers in different markets.
Among retailers in the Top 1000, Digital Commerce 360’s database of the largest North American e-retailers by online sales, 32 use Global-e for international ecommerce services.
Use of Global-e for payments on Wix sites
“Our collaboration with Global-e removes the complications involved in selling online internationally, enabling Wix merchants to maximize their reach globally, breaking down barriers to international commerce,” said Oren Inditzky, who serves as vice president of online stores at Wix. “Global-e’s expertise in global eCommerce aligns seamlessly with our mission to democratize eCommerce and empower online businesses of all sizes around the world.”
Wix claimed to have more than 263 million registered users at the end of 2023. That was up 8% from a year earlier. Among those users, nearly 683,000 Wix sites operate as stores, according to the data platform Store Leads.
Global-e’s focus on cross-border transactions
“The global D2C e-commerce market is consistently growing, presenting brands an immense opportunity to drive growth and generate new revenue streams,” said Dan Brow, vice president of global partnerships at Global-e. “However, the ‘global market’ is not one market; rather, it’s an amalgamation of hundreds of markets, each with its own characteristics, regulations and local consumer preferences.”
The Wix partnership will focus on key features from Global-e’s portfolio. Those include:
- Pricing and selling in more than 100 supported currencies
- Welcome message and checkout localization
- Local tax and duty options
- Flexible pricing by country
- Payment processing with fraud-prevention support
- Logistics for shipping options, local and pre-paid returns, a customer service portal and import processing
- Analytics and data for local insights
Wix’s reported earnings for its fiscal year 2023
The Global-e announcement preceded Wix’s public earnings announcement on Feb. 21, covering the company’s fiscal fourth quarter and full year for 2023. Tel Aviv-based Wix reported $1.56 billion in revenue for its full year 2023, up 13% year over year. Fourth-quarter revenue was $403.8 million, a 14% increase year over year. The company cited commerce on its users’ sites as an anticipated source of new business.
“[Average revenue per subscriber] improved to more than $253 in 2023, up 10% year over year, driven by a continued mixed shift to higher-tier packages, higher pricing, and increased adoption and usage of business solution products as we continue to onboard higher-intent and commerce-oriented users, particularly partners,” said Nir Zohar, president and chief operations officer at Wix, in the company’s earnings call, according to a transcript posted on Seeking Alpha. “Existing cohort behavior also improved, compared to the prior year, demonstrated by net revenue retention increasing to 105% in 2023, from 102% in 2022.”
Zohar noted the most common types of ecommerce sites Wix users tend to build, underscoring who is using their platform.
“You have to also remember that we have a very wide activity of commerce,” Zohar explained. “So not only shops, but also people are selling scheduling time, selling digital goods, booking, selling tickets to events, booking hotels, et cetera. And I think that in most of these cases, we’re seeing a positive upward trend.”
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