LATHAM, NY – January 5, 2023 – Rithum, one of the world’s largest commerce networks and provider of software solutions connecting supply, demand and delivery for retailers and brands globally, today announced that 2022 holiday sales across its network hit a record high of over $6.2 billion in gross merchandise value (GMV) between Black Friday and December 28, 2022. Additionally, the company’s commerce network drove more than 63 million orders during that period.
Uncertain macroeconomic factors meant ecommerce forecasts varied significantly heading into the holidays, and consumer spending patterns shifted compared to previous years. For example, during the 2022 Cyber 5 period (between Thanksgiving and Cyber Monday), U.S. consumer spending increased 4% compared with 20211. Rithum enabled retailers and brands on its platform to adapt and accommodate new demand patterns, adjustments in consumer spending, and additional shoppers, resulting in 2022 Cyber 5 GMV growth of nearly double the broader market.
“Retailers win when we can provide them access to more diverse product selection, and brands win when we can connect them to more demand channels, all with flexibility and efficiency. Since merging with Rithum, our customers have access to more of both than ever before,” said Bryan Dove, Rithum CEO. “Rithum helps customers reach and convert more shoppers, expand their margins, and enhance the online shopping experience. And the combined power of one of the world’s largest networks came at an especially crucial time for retailers and brands, the holiday shopping season, and we were pleased to see our expectations exceeded.”
Rithum and ChannelAdvisor finalized their merger in November, and the combined company now enables more global businesses to meet rapidly evolving ecommerce needs through drop ship, marketplace, digital advertising, and delivery management.
Rithum will be sharing more about its portfolio of SaaS products and services enabling agile, networked commerce for global businesses at the NRF Big Show in NYC, January 15-17, Javits Convention Center, Booth #3945.
About Rithum
Rithum™ is the industry’s most influential and trusted commerce network, helping brands, suppliers, and retailers work together to deliver connected e-commerce experiences. The Rithum platform helps brands and retailers accelerate growth, optimize operations across channels, scale product offerings and enhance margins.
Using our commerce, marketing, and delivery solutions, our customers create optimized consumer shopping journeys from beginning to end. More than 40,000 companies trust Rithum to grow their business across hundreds of channels, representing over $50 billion in annual GMV. Rithum is the heartbeat of commerce.
1 November 29, 2022 report from Adobe Analytics