January 26 (SeeNews) - Romanian tech and eCommerce company Blugento said on Thursday that it targets an annual increase of 40% in its turnover in 2023, given the online stores' need for differentiation and improved relations with end consumers.
The company estimates that by the end of the year 50 new medium and large online stores in Romania will use its software-as-a-service (SaaS) platform, Zento, it said in a press release.
According to a Blugento, more online stores will opt for automation tools to make their processes more efficient and to gain a larger market share.
"The biggest increases will be registered, this year, by online stores selling necessity products," said Blugento CEO, Vlad Stanescu. "In a difficult economic timeframe, investments in tech will be increasingly targeted to SaaS solutions, where costs are predictable and involve a lower initial contribution, compared to the alternatives."
Blugento is a technology company founded in 2015, which offers online store construction on the Magento platform. The company serves over 250 clients and offers a complete suite of eCommerce tools. According to finance ministry data, the company swung to a net loss of 1.67 million lei ($370,280/340,700 euro) in 2021, from a net profit of 16,955 lei in 2020.
(1 euro=4.9016 lei)