The State of Ecommerce: Office Products
The portfolio’s most stable P&L, strongest conversion gain, and lowest CPC
- Fulfilled units grew 43% YoY while fill rate improved to 80%, scaling throughput and compliance simultaneously.
- CVR improved 4pp to 31%, the strongest conversion gain in the portfolio, with CPC at $1.05, the lowest of any category.
- Revenue grew 9% with margin flat at 30%. Get the data on how Office Products held the line while others slipped.
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Key takeaways
Inventory and availability both improved.
Inventory rose 23% YoY while Rep OOS improved 1pp, the second-best OOS improvement in Q2.
Office is the clearest fulfillment win.
Fulfilled units grew 43% YoY and fill rate improved to 80%, scaling volume and compliance together.
Price pressure reflects mix shift.
ASPs fell 5% while discount rate declined 1pp, suggesting lower-priced SKUs drove the headline decline.
Conversion improved the most.
Glance views rose just 2%, but CVR improved 4pp to 31%, the strongest conversion gain in the portfolio.
Office held the P&L line.
Revenue grew 9% YoY and gross margin stayed flat at 30%, one of the most stable outcomes.
Media can likely scale further.
Ad spend rose 33%, ROAS improved 8%, and CPC stayed lowest in the portfolio at $1.05.
