According to the research by Ampla Technologies, this holiday season wasn't too good for Shopify as its revenue dropped by a large amount in the food, beverage, and wellness category. The percentage of food revenue dropped more than any other category in Shopify. It has dropped to -9.58% YoY from 12.57% YoY. It is a great loss for many sellers and speaks volumes to non-Shopify buyers. This is also proof of the diversification of different marketplaces and retail shops and how Shopify and non-Shopify brands differ from each other.
The food category wasn't the only one to fall victim to this as the beverage category on Shopify also dropped to -14.7% from a 16.3% ratio. This was from the non-alcoholic beverage category on Shopify. Similarly, the Wellness category also lost a great deal of revenue. It dropped to 28.8% from 33.5%.
In all of this, TikTok wasn't behind anything as it came third in the ad spend percentage. The ad spend percentage was between 3% to 9% all this while and the 3% was recorded in November 2022. This was when Facebook was recorded as the highest level of total ad spend percentage. In November 2022, Facebook's ad spend percentage touched as high as 80%.
Ampla Technologies also found that many brands earned 18% of their total revenue from their custom YoY, and the savings were up to 22%. Overall, 12% of revenue was recorded in the holiday season while 14% of revenue was seen in the total orders on Shopify. Seeing all this revenue, Ampla reported the future of the online market. Ampla says that many sellers are going to use embedded finance and will use options to fill the gaps between the inventory and sale prices. They will also have to look for what the consumer needs and have to level up their tech.
Read next: China Loses Momentum But Maintains Firm Grip on International IoT Module Market
The food category wasn't the only one to fall victim to this as the beverage category on Shopify also dropped to -14.7% from a 16.3% ratio. This was from the non-alcoholic beverage category on Shopify. Similarly, the Wellness category also lost a great deal of revenue. It dropped to 28.8% from 33.5%.
In all of this, TikTok wasn't behind anything as it came third in the ad spend percentage. The ad spend percentage was between 3% to 9% all this while and the 3% was recorded in November 2022. This was when Facebook was recorded as the highest level of total ad spend percentage. In November 2022, Facebook's ad spend percentage touched as high as 80%.
Ampla Technologies also found that many brands earned 18% of their total revenue from their custom YoY, and the savings were up to 22%. Overall, 12% of revenue was recorded in the holiday season while 14% of revenue was seen in the total orders on Shopify. Seeing all this revenue, Ampla reported the future of the online market. Ampla says that many sellers are going to use embedded finance and will use options to fill the gaps between the inventory and sale prices. They will also have to look for what the consumer needs and have to level up their tech.
Read next: China Loses Momentum But Maintains Firm Grip on International IoT Module Market
