Wix.com SWOT and PESTLE Analysis

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

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Political

This section is available only in the 'Complete Report' on purchase.

Economic

This section is available only in the 'Complete Report' on purchase.

Social

This section is available only in the 'Complete Report' on purchase.

Technological

1. Entrepreneur-friendly platform with tools like Wix Fitness: As an approach to be in alignment with increase in the number of entrepreneurs across the globe, all the companies are striving to introduce customer-friendly tools. Wix.com has introduced WixFitness, a tailored solution for fitness entrepreneurs to grow and promote their business, manage customer relationships, and build community directly from the Wix platform. This tool intends to provide the instructors, trainers, coaches and studio owners an alternative to easily manage their businesses from their website or on the go from the Wix App. It also helps to handle the bookings, subscriptions, e-commerce including coupons, SEO and email marketing, as well as a chat-centric interface. The owners can manage all aspects of their business including scheduling, connecting with customers, marketing campaigns, selling on-demand merchandise and videos, promoting bootcamps, conducting personal training sessions, as well as building communities for their fitness fans.

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

Legal

This section is available only in the 'Complete Report' on purchase.

Environmental

1. Focusing on building sustainable data centres: One of the latest trends ongoing in the IT industry has a lot to deal with making the cloud-based data centers green and sustainable. By focusing on the environmental repercussions of data centers, all the corporations involved are trying to dispute their carbon footprints by trying to manage the entire circular lifecycle of the networking and the hardware efficiently. Wix has a number of primary data centres located in the United States, on the East coast and West coast, as well as in Europe and Japan. The company is trying to leverage the multi-tenancy nature of the cloud service to provide better experiences as well for reducing the resource consumption, thereby optimizing the power usage by monitoring the application’s resource usage