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WIX Rolls Out Seating Map Builder for Managing In-Person Events

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Wix.com WIX recently launched a new builder for business owners and venues to create customized seating maps for their in-person events. This will enable their customers to select and purchase assigned seats for those events.

Organizing a large event for customers can be an intimidating task, especially for small businesses. With the help of Wix’s new Seating Map Builder, business owners can develop a customized seating map according to their specific venue and create different types of tickets to align with their seating map. Thus, the company’s latest builder aims to simplify the process of creating, managing and monetizing events for business owners.

Wix’s Seating Map Builder is available to all of the company’s premium users at no additional cost.

What Does Seating Map Builder Offer?

Leveraging Wix’s Seating Map Builder, business owners and venues can create detailed maps of the venue and price tickets based on the location of the seat. They can also design the map with any seating variation for their events, including tables, rows of seats, areas with general seating such as standing-room-only areas, reserved VIP sections, or even a combination of any of the above. When customers try to purchase their tickets, they will be able to see all of the available seating, move over a seat to see its price and click to select the seats they would like to purchase.

Wix is highly optimistic about this release. The launch of the Seating Map Builder has enabled businesses and venues to manage ticketing of their events by themselves – a task for which they had hired developers previously. In fact, per Wix, the average number of tickets per event and average ticket price per event have already jumped since the release of this exciting builder.

Seating Map Builder is part of the company’s Wix Events event management platform for tickets and RSVPS. Apart from live, in-person events, business owners can conduct their events on their website, connect video conferencing solutions such as Wix Live or Zoom, send invites and accept online payments. The platform also includes other networking and social tools for event attendees and businesses can leverage the Wix Owner App to check in guests, sell tickets and manage their events on the go. As businesses and venues are gradually returning to in-person events, Wix Events has seen an inflow of new users over the past year.

Headquartered in Tel Aviv, Israel, Wix offers web development, design, solutions and apps via an online platform that enables businesses, organizations, professionals and individuals to create a solid digital presence. Its user-friendly applications and cloud-based platform have driven client growth.

The company’s management anticipates registered users to increase as the company expands shipping partners and adds enhanced features. Its product innovation and partnership deals are expected to expand the user base, which can drive the top line in the long haul.

Last month, Wix announced integration of WIX Restaurants with DoorDash white-label fulfillment platform — DoorDash Drive. This will provide the restaurant owners enlisted on WIX Restaurants access to a large delivery fleet (through APIs and custom onboarding). It will help restaurant owners to rationalize their operations by incorporating delivery to their direct ordering channel with a flat-rate delivery fee.

Shares of Wix have plunged 69.5% in the past year compared with the industry’s fall of 27.4%.

Zacks Investment Research
Zacks Investment Research

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Zacks Rank & Other Key Picks

Wix currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks from the broader technology space include Bel Fuse BELFB, American Software AMSWA and Iridium Communications IRDM. While Bel Fuse sports a Zacks Rank of 1 (Strong Buy), American Software and Iridium carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Bel Fuse has a projected earnings growth rate of 3.65% for 2023. The Zacks Consensus Estimate for Bel Fuse’s 2023 earnings has remained unchanged in the past 30 days.

Bel Fuse’s first-quarter 2022 earnings per share are estimated at 22 cents, suggesting year-over-year growth of 195.65%. Shares of BELFB have dropped 8.8% in the past year.

American Software has a projected earnings growth rate of 24.24% for fiscal 2022. The Zacks Consensus Estimate for American Software’s fiscal 2022 earnings has been revised upward by 4 cents in the past 60 days.

American Software’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 92.14%. Shares of AMSWA have declined 7.2% in the past year.

Iridium has a projected earnings growth rate of 157.14% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by 2 cents in the past 60 days.

Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met the same twice, the average surprise being 39.4%. Shares of IRDM have rallied 3.2% in the past year.

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Wix.com Ltd. (WIX) : Free Stock Analysis Report

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