Consumer Goods

Consumer Goods ARPC pulled back to 1.56x and AOV to 1.48x in April. Still extraordinary. Still worth examining.

February's 1.80x ARPC was the highest reading of any vertical in this dataset. March was 1.69x. April came in at 1.56x -- a third consecutive monthly decline, but a level that remains well above anything the vertical had produced before the January 2026 surge. AOV at 1.48x follows the same gradual step-down pattern: 1.64x in February, 1.59x in March, 1.48x in April.

This is not a collapse. It's a controlled normalization from a peak that was itself historically anomalous. The Consumer Goods buyer cycle that concentrated in Q1 -- tax refund season, home improvement planning, winter appliance and equipment decisions -- is winding down naturally as spring settles in. The buyers who drove the February peak were making major purchases. April's buyers are still spending substantially above the June 2024 baseline, but the mix is shifting toward mid-ticket rather than high-ticket items.

What makes April's normalization different from a crisis reading is the conversion data. CVR held at 1.05x in April, above baseline and consistent with the prior month. Buyers are still arriving and completing at healthy rates. The revenue per session is declining because basket sizes are normalizing, not because checkout friction is increasing or buyer intent is weakening.

What to do: If your ARPC and AOV have been declining since February, resist the temptation to react with checkout changes designed for a different problem. The normalization is demand-side, not checkout-side. The more productive investment for May is making sure your checkout infrastructure -- delivery date accuracy, returns confidence, subscription and loyalty mechanics -- is positioned to retain the Q1 buyers who made high-ticket purchases and could be returning in May for complementary or replacement items.

Shipping revenue held at 1.70x, the most elevated reading of any vertical in the dataset. The category's shipping premium is structural.

Consumer Goods shipping revenue has been running well above baseline for the entire dataset, and April's 1.70x reading -- down slightly from March's 1.74x -- is consistent with the gradual normalization pattern across all revenue metrics this month. The vertical still produces shipping revenue at nearly double the all-industry rate, a gap that reflects the category's fundamental product characteristics: heavier items, higher-value purchases, and a buyer who is less price-sensitive on shipping because the base transaction is already a meaningful commitment.

The April reading also highlights a structural dynamic that distinguishes Consumer Goods from every other vertical: the category has maintained elevated shipping revenue even as the free shipping rate has been ticking upward. April's free shipping rate came in at 0.83x, still below baseline, while shipping revenue sat at 1.70x. That combination means Consumer Goods brands are generating substantial shipping revenue from orders that don't qualify for free shipping, and the buyers on those orders are completing anyway.

What to do: If you've been considering expanding free shipping in Consumer Goods in response to competitive pressure or conversion softness, April's data is a useful check. The category's buyers are completing at 1.05x conversion while still paying for shipping on the majority of orders. Before lowering your threshold, measure your current conversion rate among orders that paid shipping versus those that didn't. If the paid-shipping conversion rate is within 3 to 4 percentage points of your free-shipping conversion rate, your threshold is positioned correctly and expanding eligibility will cost margin without a meaningful return.

Coupon usage edged up to 0.68x, its second consecutive monthly increase after the January floor

Consumer Goods coupon usage hit a low of 0.49x in February 2026 and has been gradually climbing since: 0.62x in March, 0.68x in April. Two months of consecutive increases in a vertical that has historically run well below baseline on coupon engagement is worth tracking, even if the absolute level is still meaningfully below baseline.

The gradual uptick is most likely driven by spring promotional campaigns tied to home improvement, outdoor equipment, and spring cleaning categories within the broader Consumer Goods cohort. These are product areas with established spring promotional rhythms, and April is when those campaigns typically activate. A reading of 0.68x is still 32 points below baseline, so this is not a vertical that's becoming code-driven. But it is a vertical where some categories are reintroducing promotional mechanics after a quiet Q1.

What to do: If you're planning a May promotional campaign in Consumer Goods, test non-code value mechanics before reaching for a percentage-off code. Extended warranty offers, free accessory with purchase, or premium shipping upgrades at no additional cost all deliver value at checkout without the margin cost of a blanket discount. These mechanics also reinforce the high-consideration purchase decision rather than undercutting it with a last-minute price reduction.