2022 Wrap-Up: Interview with Wizart CEO - Vasili Yavorchuk

2022 is almost over, and it’s time to summarize everything that has happened during these 12 months. What lessons have we learned as a company? What did we achieve? What has changed in the industry? What are our hopes and plans for the future?

We addressed all these questions to our CEO - Vasili Yavorchuk, and are happy to share the results of our exciting conversation with you.

- What was 2022 like for Wizart? What have we achieved? 

For us, it was a time of big changes and challenges, the same as it was for the rest of the planet. Military operations in Ukraine and the energy crisis led to massive and unexpected changes for everyone, including financial markets. As a result, this created a turbulent time for businesses around the globe and changed the situation in the Venture Capital market.

We had to make many unplanned decisions in the tactics and strategy of business development, and this created a lot of stress. But at the same time, we stood together with our clients and investors, which gave us the power to continue developing. And this is the most important thing for a startup.

- What has changed in the DIY industry during 2022?

In 2021, the COVID pandemic was the main topic and concern for any business worldwide. Business owners and stakeholders were questioning if it was ending soon or becoming a new reality.

In 2022, the pandemic came to an end in most countries. This gave hope to all of us, and consumer demand began to recover.

However, it was the pandemic that made retail and brands focus on online sales and speed up the digital transformation process. It’s not enough just publish your products on the website to get an effectively working sales channel which is especially true for such complicated products as finishing materials and home decor. You need a set of different tools and techniques for cheap creation and spreading of brand awareness and new methods of presenting the product to the buyer, which can replace the experience of physical contact with the product.

This trend is very beneficial for digital companies like Wizart.

- What are the three most notable trends in the industry?

1. Accelerating digital transformation. As I mentioned above, even conservative stakeholders have realized that an online presence is a must for the success of their businesses.
2. Retail consolidation. Small independent retailers and chains leave the market, unable to compete with larger ones, or are absorbed by them. This is not a new trend, but it accelerates and leads to the rapid growth of marketplaces as a part of the distribution network.
3. The increasing role of digital data. The ability to gather, transform, use, and share data quickly and cheaply is becoming the key to success not only for digital businesses but also for more traditional ones.

- What are your plans, hopes, and forecasts for 2023? What will it be like for the company and the industry in general?

What a multidimensional question 🙂

As a business, we plan to add even more value to our products and share it with a bigger number of clients. And as a startup, we plan to show growth in all key metrics and justify the trust of our customers. 

We hope that the ideas we are working on now and preparing to release to the market next year will change people's lives for the better. 

We are sure that the upcoming year, like any other one, will bring us a lot of new experience, knowledge, and meetings. We are going to continue participating in the exciting championship: “How to become essential to a large number of people,” celebrate victories, learn from mistakes, and keep going even after failures.

- What would you wish our customers and partners for this holiday season?

I wish you to set big goals and get the energy to achieve them. Also, I want to thank everyone for all the support and knowledge. We’ve learned a lot this year.

Happy holidays!