Office products Q3 2025: Efficiency over expansion wins
Office Products demonstrated stability through Q3, with Ordered Product Sales rising 3.9% year over year, supported by solid back-to-school demand and improving operational reliability. However, profitability took a hit as unit margins fell to an 18-month low in July, reflecting aggressive Prime Day promotional activity and continued cost pressures.
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Key takeaways
Fill rates hit multi-quarter highs: PO fill rates jumped 26.7% YoY, enabling brands to meet demand reliably despite inventory increases of only 10%.
Prime Day drove margin erosion: Unit margins hit an 18-month low in July as promotional discounting intensified, even as overall sales grew modestly.
Traffic declined but intent strengthened: Glance views dropped 9.2% YoY while conversion rates rose 9.1%, showing buyers are more focused when they engage.
Ad efficiency improved modestly: Ad spend fell 1.1% YoY while ROAS increased 1.5%, with CPCs down 11.1%, indicating less competitive pressure.
OOS revenue loss dropped significantly: Revenue lost to out-of-stock incidents declined 62% YoY despite a 2.1% increase in representative OOS rates, suggesting better inventory positioning on high-velocity SKUs.
ASPs rose as discounting eased: Average selling price increased 2.5% YoY while discount percentages declined 6.1%, reflecting cautious pricing strategies.
Office products Q3 2025: Efficiency over expansion wins
