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Wix.com SWOT & PESTLE Analysis

ID : 52783253| Sep 2020| 12 pages

COMPANY PROFILE -Wix.com

Business Sector :IT Industry

Operating Geography :Israel, Asia, Global

About Wix.com :

Wix.com Ltd. is an Israeli based software company whose headquarters are located in Tel Aviv. The company was founded in 2006 by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan. The company mainly deals in cloud-based web development and assists customers in creating HTML5 websites and mobile sites through options like web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. Other services offered by the company include the use of Wix developed software and third-party applications that allow users to complete activities like adding social plug-ins, conducting online marketing and e-commerce, creating community forums, engaging in e-mail marketing and creating contact forms. The company has offices located in Brazil, Ireland, USA, Canada, Ukraine, Germany, India, and Lithuania. As of June 2020, the company has over 180 million registered users from 190 countries across the world.
The website development tool of Wix is essentially free, with the company earning its revenues through upgrades to Premium accounts. The company has an employee count of around 3200 people. Endurance International, GoDaddy and Web.com are some of the primary competitors of the company. The mission statement of Wix.com reads, “To give everyone the ability, right, and opportunity to grow, succeed, make a meaningful impact and have fun doing it.” The USP of the company lies in the fact that it empowers anyone from anywhere with the ability to build a website from scratch.

Wix.com Revenue :


USD 761.088 million – FY ending 31st December 2019 (y-o-y increase of 26.1%)
USD 603.704 million – FY ending 31st December 2018

Competitive Analysis of Wix.com

SWOT
PESTLE
The SWOT analysis for Wix.com is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Robust and diverse portfolio of product mix
2. Strong and continuous history of product innovations
3. Continuous growth in financial parameters such as average Annual Revenue per Subscription (ARPS)
4. Well-built and efficient infrastructure for scalable and flexible operations
5. Guild team structure enhances employee accountability and accelerates learning
1. Heavy reliance on a specific component of revenue streams
OpportunitiesThreats
1. Entry into Japan by partnership with GMO Epsilon for enhanced payment solutions
2. Extensive promotional activities like partnering with Marvel to launch Wix Turbo
3. Intensive investments in R&D activities
4. Driving growth through product development
1. Impact of the recent outbreak of Covid-19 pandemic on business
2. Fluctuations in macroeconomic factors such as currency exchange rate
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Detailed SWOT Analysis of Wix.com

Strength

1. Robust and diverse portfolio of product mix: Wix offers to its customers, which includes millions of registered users and creators worldwide, a wide cloud-based web development platform. This online operating company believes that the everyone should be able to access the Internet for developing, creating and contributing matter. Using the revenue stream of free and premium subscriptions, i.e., a freemium model, it strives to empower its clients including millions of businesses, organizations, artists, and individuals. Wix allows them to shift their businesses, brands and workflow operations online. Along with this, the company also empowers its partners and collaborators to serve their own respective customers using Wix’s services and products. Its platform, which is built on web development technology, HTML5 offers diverse compatible capabilities ranging from web design and layouting tools of HTML5 along with domain hosting, and other marketing and work flow management applications and services. Starting from the novice, all the way to the experts, Wix offers all kinds of product like Wix ADI, templates, WIX Editor, business-ready components and Corvid.

2. Strong and continuous history of product innovations: In the pursuit to provide the greatest online experience to its customers, Wix.com was aggressively followed the innovation strategy, by spending intensively in the R&D activities. Owing to this commitment, the company has maintained its robust history of product innovations from a multi-year perspective. In 2015, it expanded the coverage of WiXStores to Facebook along with introducing multiple innovations like a new editor launch, WiXShoutOut, WixEd and WiXMusic. In the following years, the company rolled out several new offerings such as WiXHome, WiXRestaurants, WiXEngage, WiXADI, WiXPhotography, WiXApp, SEO Wiz, WiXCode, WiXAnswers and WiXVideo. The transition period of 2019 to 2020 also saw a number of innovations like WiX.Payments, WiX.Turbo, WiX.Fitness and Editor X.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

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Threats

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Major Competitors :

  • Weebly
  • Squarespace
  • Webnode
  • WordPress
  • Jimdo
  • Shopify
  • Strikingly
  • BigCommerce
  • Mindbody

Major Brands :

  • Wix
SWOT & PESTLE (combined)
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Wix.com Analysis Report

1. Next-Generation Sustainable Data Center Design - https://thenewstack.io/next-generation-sustainable-data-center-design/
2. ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 - https://www.sec.gov/Archives/edgar/data/1576789/000117891320001005/wix20f2019.htm
3. Wix Unveils Editor X - Extending Leadership of Web Creation Market - https://www.bing.com/search?q=Wix+Unveils+Editor+X+-+Extending+Leadership+of+Web+Creation+Market&pc= COS2&ptag=D031719-N0340A5AF4E3D53C&form=CONBDF&conlogo=CT3335878&SearchUrlPostfix=/search&toWww=1&redig= 7ED1DFBA61B14E79B9676A7EA98305F2
4. Wix and GMO Epsilon Introduce Enhanced Payment Options in Japan - https://www.bing.com/search?q=Wix+and+GMO+Epsilon+Introduce+Enhanced+Payment+Options+in+Japan&pc= COS2&ptag=D031719-N0340A5AF4E3D53C&form=CONBDF&conlogo=CT3335878&SearchUrlPostfix=/search&toWww= 1&redig=9ECFC626082B4A9180D7C8FCD9442D7C
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Wix.com SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Wix.com SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/wix-com/ [Accessed 28 Oct, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Wix.com SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

Copyright of Wix.com SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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