To continue growth and strengthen its go-to-market strategy in that climate, the eCommerce platform announced a restructure in its quarterly results report on Wednesday (Nov. 8), affecting 7% of its workers.
“While headcount and non-headcount reductions affect all teams across the company, sales and marketing spending will see the greatest impact as a result of go-to-market improvement,” said Chief Financial Officer Daniel Lentz during an earnings call.
While BigCommerce’s 2024 plans are still in the works, Lentz stated that they are based on “the assumption that macroeconomic conditions remain a headwind in eCommerce,” making it “imperative to run lean from a spending perspective so that we can capitalize on the opportunity this environment presents for our business.”
Total sales was $78 million, up 8% from the third quarter of 2022 and slightly higher than the $75 million recorded in the second quarter.
CEO Brent Bellm noted where such challenges have been felt during the call, stating “continued tighter eCommerce order” and gross market value (GMV) growth in 2023 than before the epidemic.
“This has led to fewer orders and GMV-based pricing upgrades compared to prior years, and it has impacted partner and services revenue growth more than originally anticipated going into the year,” added Bellm. “We have also seen the effect of a tight business spending environment.”
