It’s that time of the year when we take stock of the progress we’ve made toward achieving our vision of enabling anyone to sell anything to anyone, anywhere. We also take this time to plan for next year and thank you all, our customers, partners, investors and employees, for trusting Glopal in our goal of creating a borderless commerce world.
2022 has been particularly challenging as we transition from the pandemic to a post-pandemic recession. The economic headwinds resulting from interest hikes, the ongoing war and post-pandemic supply-chain disruptions mean consumers have lesser discretionary income to spend online. This has directly impacted the e-commerce industry as retailers started to experience dampened consumer demand in domestic markets.
As a result, merchants have started to shift their focus toward expanding into untapped international markets. International expansion is now at the core of every retailer's strategy, and this shift has been quite favorable for our business, allowing us not only to weather the prevailing economic headwinds but also to maintain our aggressive 100% YoY growth trajectory.
As a result, 2022 saw us partner with many ambitious high-growth merchants, including some of the biggest global luxury and retail brands, such as Dior, Balmain and Printemps, while continuing to drive international exceptional growth for existing customers. The new partnerships have not only helped us achieve a very strong finish to the year but have also set us up for a big 2023. We’re also very pleased to report that despite the challenging macroeconomics, we delivered a 30% YoY GMV growth on average for our clients worldwide.
As we continuously build towards helping brands achieve cross-border success, it’s important to partner with other businesses that share the same e-commerce vision as ours. To that end, we have entered into some fantastic strategic partnerships this year with digital commerce platforms, fulfillment companies and digital agencies that will further benefit our merchants and add even more innovative capabilities to our cross-border ecosystem.
Being an innovative product company at heart, our continued goal is to always be ahead of the curve and continuously add features that simplify the lives of our customers while helping them grow. This year we’ve added support for even more currencies and flexible digital payments, made significant enhancements to our checkout and translation editor user interfaces and added support for more popular digital commerce platforms.
Most importantly, we ended the year with a 90% CSAT customer satisfaction score, which is much higher than the industry average. This continues to be the ultimate validation of our relentless commitment to helping our customers grow without borders.
Lastly, we will share some exciting news regarding our next growth phase early next year.
We’re very excited about what 2023 will bring, and we cannot wait to continue our journey together. From everyone at Glopal, we wish you a very happy and healthy holiday and a bright and successful 2023.
Patrick Smarzynski & Benjamin Cohen
Founders of Glopal