Steady orders and loyal customers signal opportunity to lift conversion, retention and order value through refinement . Find out more in PH Digital’s September Market Report.
September Market Report overview
September brought a quieter but telling month for ecommerce. After the August lift, we’ve seen a stabilisation that’s both grounding and galvanising: a reminder that performance isn’t linear, and that resilience looks different in 2025.
Across PH’s portfolio, revenue held steady year-on-year (-0.29%), with orders up 4% despite a smaller customer pool. That tells us loyal audiences are holding the line – a strong foundation to build from as we head into peak trading. Returns spiked 32.7% and discounts rose 14%, signalling a market still navigating price sensitivity, but also one where smarter segmentation and offer discipline are paying off.
Key takeaways:
- Resilient spend: Revenue stability amid shrinking audiences confirms that well-nurtured customers are still converting.
- Returns volatility: A seasonal spike, but also a chance to learn. Brands must refine PDPs, fit guidance and expectation setting ahead of BFCM.
- Promos tighten: Disciplined discounting is protecting margins. Use September learnings to structure Q4 offers for clarity and control.
- Platform pressure: Meta CPMs are up 32% and Google CPCs up 8%. PMax remains the engine, but creative, sequencing and conversion flow now matter more than ever.
- SEO resurgence: Google’s latest Spam Update has shifted the focus back to site quality. Technical excellence and structured data are once again differentiators.
Missed previous reports? Check out the archive here.
As we move through October, the conversation turns from observation to optimisation. Late October and early November are make-or-break for digital readiness: not the time for reinvention, but for refinement. That means auditing return reasons, tightening creative sequencing, cleaning your data and ensuring every ad dollar has a job.
The brands winning this quarter are the ones pairing consistency with courage. They’re not chasing every trend or discounting to the floor. They’re reading the data, refining their message and executing with precision – whether through early loaded creative, automated audience flows or incremental UX improvements that remove friction at scale.
With just weeks to go before BFCM, stability isn’t complacency, it’s opportunity. Use it well.
About PH Digital’s Market Report
PH Digital’s Market Report is an essential source of clarity, context and actionable insight. It’s built for business owners and marketing managers navigating a fast-changing digital landscape.
Released monthly, the report distils anonymised performance data from PH’s client portfolio across Shopify, Google, Meta, email and SEO into an easy-to-read snapshot of what’s really happening in the market, and what to do about it.
Designed for busy people, each section pairs hard metrics with clear takeaways. Skim it like a newsletter or deep-dive like a strategist. And because PH works with premium ecommerce and service brands across New Zealand, Australia and beyond, the insights are hyper-relevant to local businesses, while also looking beyond the algorithm to consider broader consumer, cultural and economic trends.
Grounded in real data, the report doesn’t just show what’s working – it explains why, and how you can apply it. Whether you’re chasing conversions, trying to cut wasted spend, or planning your next brand push, it connects short-term performance with long-term brand strategy.
