Q1 2024 Sees a 9.5% Surge in Ecommerce Revenue Amidst Compression of Gross Margins and Return on Ad Spend [Yahoo! Finance]
Maplebear Inc. (CART)
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Source: Yahoo! Finance
PALO ALTO, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- CommerceIQ , the leading retail ecommerce management (“REM”) platform, today released its State of Retail Ecommerce Report for Q1 2024 , which saw a 9.5% increase in ordered revenue year-over-year for the first quarter of 2024. This growth was primarily driven by a 10.4% increase in ordered units, offsetting a fall in price levels of -0.9%. The report also found a 7.4% decrease in gross margins, likely due to rising Costs of Goods Sold (COGS) and increased discounting, alongside a $0.40 drop in return on advertising spend (ROAS) year-over-year. These point to the continued profitability challenges facing retail ecommerce businesses. Among other findings in the State of Retail Ecommerce Report for Q1 2024: Based on CommerceIQ's data, Q1 US online revenue grew quarter over quarter – specifically driven by an increase in units ordered by shoppers of 10.4% as price levels fell by 0.9%. CommerceIQ observed a compression of gros
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News
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CART
Earnings
- 5/8/24 - Beat
CART
Sec Filings
- 5/20/24 - Form 144
- 5/20/24 - Form 144
- 5/20/24 - Form 144
- CART's page on the SEC website