Each month, we’re gathering information from ecommerce agencies: their results, thoughts, and predictions, and then sharing these insights in an aggregated and anonymous industry report.

Whether you're an agency owner or just looking for more information, this report can help you get a better understanding of the state of ecommerce agencies.

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January Budgets: A Post-Holiday Rollercoaster

In January, the data tells a more scattered story. We’ve got agencies reporting a dip in budgets (right around 2–3 on the scale), while others are seeing a pretty big jump (near 8–9). It’s not as clear-cut as December’s “all aboard the holiday hype train,” but it makes sense for the post-festive slump—some brands are easing off the gas after the holiday rush, while others are still riding that momentum. Compared to the yearly average, January is definitely more split. We’re chalking it up to the usual early-year shuffle: some folks are tightening belts, others are investing in new initiatives for Q1.

"Many of our retail first customers have asked to reduce their marketing budgets in January as a result of what they call “buyer fatigue”. However, it’s been our experiences that the ecommerce first clients who increase their adspend during the early part of the year face less competition and see their ROAS increase. Highlighting E-commerce is not retail; they might look the same but they are different."

Jody Edgar, Founder at Sunbowl

"2025 is shaping up to be a pivotal year for D2C eCommerce. We’re noticing our clients investing more in advanced strategies, shifting their focus from flashy designs to meaningful results. They’re asking one key question: “How can you help us move the needle on our most important metrics?”

Bogdan Mihalache, Founder at emailkong

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Moderate Boost: Brands Are Stepping Up Their App Game

In January, we’re seeing a massive spike around the 4–6 range, which basically screams “moderate increase” in ecommerce app spend. This is noticeably bigger than the YTD average, where responses were more spread out. It’s like everyone has settled into a sweet spot—probably a mix of those still riding the holiday high (and testing out new apps) and those cautious about overcommitting to big software expenses. Compared to previous months, there’s fewer extreme highs or lows, so think of January as that middle-ground moment: a solid boost for most, but not quite a post-BFCM frenzy.

"We’ve just had the strongest January in our history for migrations to Shopify! This platform is clearly gaining traction as businesses realize the downsides of self-hosted CMSes, security risks, high development and maintenance costs, and the inability to quickly test new services. Shopify provides a faster, more secure, and cost-effective solution, and it’s exciting to see so many clients making the switch to accelerate their growth."

Stefan Chiriacescu, Founder & CEO at eCommerce Today

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Price Tags Under the Microscope: The Post-Festive Reality Check

January’s responses for price sensitivity are a little bit all over the place compared to what we’ve typically seen. While the YTD average (the yellow line) has a big, clean peak around the mid-range (think 4–6), January (the purple line) seems to hover a bit and even spikes again toward the higher end.

Translation? Some brands are going full-on “we’ll pay for quality!” while others are still pinching pennies. It’s less of a steady climb and more of a double peak, hinting that agencies might be facing a wider variety of budgets and expectations than usual. Essentially, a chunk of clients want you to prove every dollar spent is worth it, but there’s also a group that seems willing to pay for expertise if you can show results. It’s a classic post-holiday split: cautious optimism for some, bigger bets for others.

“In Social has started off 2025 strong with 2 of our retainer clients expanding their scopes with us, one adding 2 new services, while another has doubled our efforts by giving us a whole other brand to manage. When you make your clients money, they will often repay you by giving you more work to make them more money. Beyond the expansion of services, we have also seen an increase in net new clients coming our way thanks to our SaaS partners’ referrals, and we have seen a general increase in the acceptance and understanding of our price and value. While we still, and always will come across brands who cannot afford us or justify the investment, many more than in the past have expressed that they get and appreciate our value, whether or not they can afford it. We are hopeful that this increase in agency spending is a reflection of the Ecommerce industry as a whole, and that it means more work for us all.”

Jess Grossman, Founder & CEO at In Social

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Lean In or Outsource? January’s Split Verdict

January’s data has a bit of a split personality compared to the YTD trend. We’re seeing one cluster of agencies picking lower scores (around 2–3), meaning they think clients will lean more in-house, and another chunk shooting higher (7–8), suggesting a stronger inclination to keep outsourcing. The YTD average is more centered around the middle, so this month’s vibe is definitely more polarized. It’s probably that classic post-holiday scenario: some brands want to tighten up and build internal teams, while others are doubling down on outside expertise to kick off Q1 with a bang.

"In a market overcrowded with self-proclaimed experts who focus solely on aesthetics, the agencies that will stand out are the ones offering strategic and financial insights that drive real growth. 2025 will separate the agencies that deliver impact from those that simply look good on paper."

Bogdan Mihalache, Founder at emailkong

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Eyes on Growth: Agencies Betting Big on Mid-Year Upswing

January’s revenue outlook skews a bit more to the “big increase” side than the YTD average. There’s a pretty notable cluster around 7–8 on the purple line, suggesting agencies are feeling extra bullish about the next six months—more so than the typical (yellow) trend we’ve seen. A few outliers are still hovering in the lower range (0–2), but overall, optimism for mid-year growth is running high. Looks like some agencies are ready to hit the ground running in 2025, while a smaller group is still playing it safe.

‍"In 2024, we saw brands become more precise in connecting with their customers - leveraging data to craft highly personalized experiences that drive loyalty and conversions. At craftberry, we’ve helped brands implement smarter strategies that resonate with their customers more deeply. In 2025, this focus on personalization will be the key differentiator for growth-focused e-commerce brands."

Preslav Nikov, Founder & CEO at craftberry

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Hopeful Horizons: A Mix of Caution and Confidence for 2025

January’s optimism curve is looking a bit jumpy compared to our YTD norm. We’ve got a decent chunk of agencies sitting around 5–6 (moderate optimism), then a dip, and finally a healthy bounce near 9–10. Meanwhile, the YTD average tends to cluster more steadily in the mid-to-high range. Basically, some folks are cautiously positive, while others are super bullish about the next 6 months. It’s that classic post-holiday divide: a few want to see how Q1 shakes out before going all-in, and a good portion are already betting on a big year in ecommerce.

"Navigating the dynamic landscape of eCommerce, we are fueled by innovation and resilience. As we adapt to changing consumer behaviors, our commitment to delivering value and excellence remains unwavering. The future of eCommerce is bright, and together, we'll lead the charge."

Ahmed Elghobashy, Founder and CEO at Simplixi

"The future of ecommerce in 2025 and beyond lies in creating hyper-personalized shopping experiences. Brands that leverage psychology driven artistic campaigns for marketing data-driven insights to understand and cater to individual customer needs will not only survive but thrive in the increasingly competitive ecommerce landscape."

Ash Ome, Creative Director & CEO at MOTIF

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Wrapping up

It’s only January, but wow—2025 is already throwing plenty of surprises our way. I’ve learned a ton from all the agency owners who jumped in with their insights this month. Huge thanks for sharing your wisdom and helping us paint a clearer picture of where ecommerce is headed.

I’m genuinely pumped to see what the rest of the year has in store. From myself and the entire ReferralCandy team, here’s to a fantastic 2025. Let’s keep adapting, learning, and crushing those goals!

Some of the agencies who have agreed to participate in the report include: Online Origins, SeaMonster Studios, Swanky Agency, Thooja, Audacious Commerce, Ecommerce Today, For My People, RPF Agency, Pluro, Webcetera, SmartBug Media, Gloross, VT Labs, Motif, TatJones, Growth Heist, EastsideCo, SmartSites, MageMontreal, GetVisible, StubGroup, Thooja, Gudu, TenThousandFootView, Storetasker,SEOWorks, Zettler Digital, Saro Media, Velstar, Simplixi Innovations, Bakklog, EmailKong, Takeover Media, Medito Digital, Bedford Lane and CRO Media.

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