Newegg Commerce H1 Average Order Value $401 Compared To $390 YoY; Active Customers Totaled ~1.1M As Of June 30, 2024, Down From 1.3M YoY
Portfolio Pulse from Benzinga Newsdesk
Newegg Commerce reported an increase in average order value to $401 in H1 2024 from $390 YoY, but saw a decline in active customers to 1.1M from 1.3M YoY. The repeat purchase rate also decreased to 23.0% from 27.9% YoY.
August 29, 2024 | 5:32 am
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Newegg Commerce's average order value increased, but active customers and repeat purchase rates declined in H1 2024, indicating potential challenges in customer retention.
The increase in average order value is positive, but the decline in active customers and repeat purchase rate suggests potential issues in customer retention and engagement. This could negatively impact Newegg's revenue growth and investor sentiment in the short term.
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