Sales were robust for Anheuser-Busch InBev in 2023. But it was also a successful year for growing digital commerce.
“We progressed our digital transformation, generating approximately $40 billion of gross merchandise volume (GMV) through BEES, with 67% of BEES customers now also BEES marketplace buyers,” chief financial officer Fernando Tennenbaum told analysts on the year-end earnings call.
BEES is AB InBev’s B2B digital sales platform through multiple channels, including its marketplace for third-party suppliers of beer and non-beer products.
Total AB InBev revenue grew 7.8% to $59.38 billion in 2023 from $57.78 billion in 2022.
AB InBev owns such brands as Budweiser, Stella Artois, and Corona.
“Customer adoption is increasing,” the company says according to a transcript from MotleyFool.com.
Digital metrics from the AB InBev BEES B2B marketplace
- AB InBev’s BEES platform is now live in 26 markets, with approximately 70% of fourth-quarter revenue captured through B2B digital platforms.
- In 2023, the BEES marketplace reached 3.7 million monthly active users and captured $39.8 billion in gross merchandise value (GMV), a growth of 27% over 2022.
- The BEES marketplace was live in 15 markets, with 67% of BEES customers also working as marketplace buyers. Marketplace captured approximately $1.5 billion in GMV from sales of third-party products.
- Direct-to-consumer brands fulfilled over 69 million ecommerce orders and generated revenue of more than $550 million in 2023.
“The digital transformation of our route to consumer is a fundamental evolution in how we do business and serve our customers,” says Anheuser-Busch. “Our digital platforms are enabling us to increase the distribution of our brands, reduce our costs to serve, and improve our relationship with customers and consumers. It is a key competitive advantage, and we continue to explore new ways to monetize our digital and physical assets to create additional profitable revenue streams.”
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s last quarter’s AB InBev update.
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