Ambaum Q1 Ecommerce Analysis in 2025
As we move through the first quarter of 2025, we’re seeing key trends emerge in the ecommerce landscape—both in our own pipeline at Ambaum and in broader merchant activity. While some segments are showing strong momentum, others are experiencing a more cautious pace, likely influenced by external economic factors.
Shopify Plus Pipeline: Steady Growth in Maintenance, Slower Migrations
At Ambaum, we categorize our new potential merchants into two primary groups:
- Ongoing Maintenance – Existing Shopify Plus merchants looking for continued support and strategic guidance.
- Migrations – Merchants moving from third-party platforms to Shopify.
So far in Q1, we’ve seen continued traction in the Ongoing Maintenance category. More Shopify Plus merchants are seeking Fractional CTO services and expert Shopify development support, reinforcing the demand for long-term, strategic partnerships.
On the Migrations side, we’ve had an increase in leads, signaling strong interest from brands looking to transition to Shopify. However, deal closures have been slower. A significant portion of these merchants come from legacy industries—manufacturing, parts, and accessories—where sales cycles are inherently longer due to the complexity of their businesses and decision-making processes.
Merchant GMV: A Choppy Start to the Year
When looking at Gross Merchandise Volume (GMV) across our merchants, trends have been unpredictable. Month-over-month and year-over-year performance continues to be inconsistent, reflecting the uncertainty in the broader market.
However, March has shown improvement over February, both on a month-to-date and year-over-year basis. While this is a positive sign, the landscape remains a “mixed bag” with fluctuating results across different verticals.
Macroeconomic Factors: Stock Market & Tariff Uncertainty
External economic conditions are playing a role in merchant behavior. Stock market volatility and ongoing tariff uncertainties seem to be causing some hesitation among businesses that might otherwise be moving forward with investments in ecommerce growth. Many brands are taking a wait-and-see approach before making major platform migrations or significant technology investments.
Looking Ahead
While Q1 has had its ups and downs, we remain optimistic. The continued demand for Shopify Plus maintenance services and the steady flow of migration inquiries suggest a strong long-term outlook. As economic conditions stabilize, we anticipate more merchants making the leap to Shopify, especially those in legacy industries looking to future-proof their businesses.
At Ambaum, we’ll continue to support our merchants with expert Shopify solutions, whether they need ongoing optimization or are ready to make the transition to a more scalable eCommerce platform.
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