Summer Greeting From the CEO
As we soak in the warmth of another bright summer, I want to share some reflections from the first half of 2023 here at Brink Commerce.
Our previous year concluded on a resounding note, showcasing a YoY MMR growth of +355% and an MoM growth rate of +19%. This year, we've already outdone ourselves and are on track for even greater achievements, a testament to our amazing team’s collective drive and dedication.
We have expanded our family with new, exciting customers like Àvora, Collar of Sweden, Kids Brand Store, and several other global retailers that we can’t really talk about yet - all forward-looking merchants poised for exponential growth. Moreover, our new partnerships with Occtoo, Junipeer, and Partnersense have added to our collaborative strength, paving the way for more innovative solutions.
At the beginning of the year, I posted six predictions for 2023, and as it’s important to stop and reflect, I thought this would be an excellent time to see how I did.
1. The world will not come to an end.
If we allow ourselves to set the worrying turbulence and tragedy on the global stage aside for a second, we see Inflation is coming down, and interest rates are peaking, it seems. This is very positive for our industry. And we see an encouraging shift of power from vendors back to merchants. With the emergence of Composable Commerce and MACH technology, merchants are no longer stuck with monolithic solutions that can support their growth.
2. A focus on profitability and cash flow for merchants
During these first months of 2023, our customers and the merchants we talk to have shown a laser-focused approach to cost optimization. The rapid emergence of AI solutions across the industry is a vital sign of this cost-conscious but performance-driven environment. We think this is very positive, and we foresee this shift continuing.
3. Composable commerce and headless stacks will finally be considered ‘for everyone.’
The surge in interest from enterprise-sized merchants in composable commerce ecosystems is beyond encouraging. Not just for us. And it's now not just an alternative to the monolithic platforms of the past—it's the new norm!
4. We will see the start of more consolidation
We have seen some acquisitions already, and the term 'MACHwashing' has cropped up, demonstrating that older platforms can't merely claim to be modern. So, I believe this is just the beginning. And it’s great to see that our commitment to genuine, cutting-edge MACH technology places us firmly ahead.
5. Decreased use of self-hosted solutions:
The shift from expensive self-hosted solutions to SaaS alternatives signifies a key trend - merchants are reclaiming their focus on enhancing customer experiences and driving growth. This trend aligns perfectly with what we believe is the best way forward in a shaky economic climate.
6. Vendors will continue to refactor and break apart their platforms.
Our belief in the power of independent and interoperable API features has resonated throughout the industry. The future of eCommerce lies in flexibility and adaptability, and we're happy to help pave the way.
As we gear up to propel eCommerce further into the future, I'd like to express my heartfelt gratitude for the unwavering support of our fantastic customers, partners, and industry friends. We are excited about what's to come and can't wait to embark on the next step of this journey with you.
Here's to a fantastic summer, filled with sunshine and cherished moments with loved ones!
Kristian Tysander, CEO, Brink Commerce