Overall analysis

May saw a bounce back month-over-month following a relatively slow April. The combination of strong month-on-month and year-on-year performance points to continued momentum across the e-commerce sector.

On a month-on-month basis, all core activity metrics increased. Turnover increased by +6.5%, Gross Profit by +7.4%, Orders by +7.7%, and Ad Spend by +5.6%. Efficiency metrics were also positive, with ROAS up by +0.9% and POAS up by +1.7% compared to April.

Year-on-year performance continued impressing across the core metrics. Turnover increased by +16.7% YoY, while Gross Profit outperformed with a +21.1% YoY increase, indicating continued improvement in underlying profitability. Orders grew by +14.4% YoY, and Ad Spend rose by +23.6% YoY, confirming sustained investment in paid acquisition.

Although e-commerce activity remained strong, advertising efficiency continued to face headwinds. ROAS declined by -5.6% YoY, while POAS decreased by -2.0% YoY, indicating that increased market competition is still putting pressure on returns.

May results:

Turnover: Up +6.5% from last month and up +16.7% YoY

Gross Profit: Up +7.4% from last month and up +21.1% YoY

Ad Spend: Up +5.6% from last month and up +23.6% YoY

Orders: Up +7.7% from last month and up +14.4% YoY

POAS®: Up +1.7% from last month and down -2.0% YoY

‍ROAS: Up +0.9% from last month and down -5.5% YoY