Our index is built on a robust dataset, covering a wide variety of businesses. This comprehensive analysis provides actionable insights for the e-commerce industry.
January data confirms that activity in e-commerce remains strong, although momentum eased compared to the exceptional levels seen in Q4.
On a month-over-month (MoM) basis, all core activity metrics declined, reflecting normal post-peak seasonality after Christmas. Turnover decreased by -10.9%, Gross Profit by -13.5%, Orders by -17.9%, and Ad Spend by -12.5%. Efficiency metrics were more stable, with ROAS up +1.8% and POAS® down -1.2% compared to December.
Despite the seasonal slowdown, year-over-year (YoY) performance remained solid across most metrics. In January, Turnover increased by +13.6% YoY, while Gross Profit outperformed with a +20.7% YoY increase, indicating continued improvement in underlying profitability. Orders grew by +11.6% YoY, and Ad Spend rose by +20.3% YoY.
From an efficiency perspective, ROAS declined by -5.5% YoY, while POAS increased slightly by +0.4% YoY, suggesting that although margins remain relatively resilient, increased ad competition is compressing returns compared to last year.
Although macroeconomic conditions may stabilize in 2026, e-commerce demand is expected to remain highly sensitive to interest rates, disposable income, and consumer confidence.
Turnover: Down 10.9% from last month and up 13.6% YoY
Gross Profit: Down 13.5% from last month and up 20.7% YoY
Ad Spend: Down 12.5% from last month and up 20.3% YoY
Orders: Down 17.9% from last month and up 11.6% YoY
POAS®: Down 1.2% from last month and up 0.4% YoY
ROAS: Up 1.8% from last month and down 5.5% YoY
Improve your tracking and see the profit behind every order.
ProfitMetrics boosts your work with real-time profit insights on orders.
