Q2 2024 Saw Retail Ecommerce Revenues Rise by 7.2% Amidst Falling Prices and Shrinking Gross Margins
2024年7月12日 - 3:09AM
CommerceIQ, the leading retail ecommerce management (“REM”)
platform, today released its State of Retail Ecommerce Report for
Q2 2024, which saw retail ecommerce ordered revenue grow 7.2% for
the second quarter of 2024 as compared to Q2 2023. This growth
occurred in spite of falling price levels, with consumers
purchasing more items at lower prices.
The report also showed growth in ad spend of 10.1%
versus Q2 2023, suggesting that brands are continuing to prioritize
growth and market share in the face of profitability
challenges.
Among other findings in
the State of Retail Ecommerce Report for Q2 2024:
- All categories other than Office Products experienced revenue
growth in Q2 2024 vs. Q2 2023, with all categories other than Toys
and Pet Products seeing falling prices over the same period.
- Gross margins continue to fall, likely due to a combination of
pricing pressures and/or consumer demand as shoppers opt for lower
priced items.
- Pet and Beauty remain highly competitive categories, with ad
spend increases of 68% and 79%, respectively, in Q2 2024 vs. Q2
2023.
- Sponsored Brand advertising saw the most growth in Q2, with
brands likely aiming to build audiences leading into Prime
Day.
- Inventory levels are rising, which up until June correlated
with reduced losses due to out-of-stocks. This is likely a signal
that inventory mix isn’t aligned with real consumer demand.
Data in the State of
Retail Ecommerce Report is based on a compilation of anonymized
data from the CommerceIQ REM Platform, which handles tens of
billions of sales from global consumer brands that sell on retail
ecommerce channels such as Amazon, Walmart.com and Instacart.
“Despite pricing
challenges and shifting consumer behaviors, our platform's data
underscores the adaptability and growth potential in today's
ecommerce environment,” says Guru Hariharan, CEO of CommerceIQ.
“Brands that make investments in AI-powered solutions to automate
and optimize their online presence will be well-positioned to
navigate these complexities and drive sustainable growth in an
increasingly competitive marketplace.”
For more information,
download a full copy of the State of Retail Ecommerce Report for Q2
2024.
About CommerceIQ
CommerceIQ is the leading retail ecommerce
management (REM) platform for consumer brands to plan, monitor and
execute their businesses and profitably grow market share across
650+ global online retailers. CommerceIQ’s unified REM platform
brings together every aspect of a brand’s retail ecommerce
business: sales and operations, retail media management, content
management, and digital shelf optimization, to create a single
source of truth. CommerceIQ’s machine learning and automation
enable brands to connect organizational silos, power team
efficiencies, and drive measurable sales impact. More than 2,200
brands globally, including Nestle, Colgate, and Whirlpool, trust
CommerceIQ to manage and grow their retail ecommerce businesses
across global retailers including Amazon, Walmart, and Instacart.
For more information, visit https://www.commerceiq.ai.
CommerceIQcommunications@commerceiq.ai