Peak 2025: Cyber 5 Performance Summary

Dec 09, 2025

Aaron O'Brien

Senior Data & Analytics Product Manager

The affiliate benchmark group’s overall peak performance (Nov 1 – Dec 2) remains positive, showing a +3% year-over-year (YoY) revenue increase for global retail (less food & drink), largely driven by a 5% higher average order value (AOV) and an 18% increase in clicks. This positive revenue trend occurred despite a significant 17% decline in the conversion rate, suggesting shoppers are less likely to purchase but spend more when they do.

Cyber 5 Results: A Mixed Bag

The Cyber 5 period (Nov 27 – Dec 1, 2025) presented a mixed performance landscape across regions. While overall Peak saw revenue growth, the Cyber 5 was characterized by much higher traffic but poorer conversion efficiency, resulting in a flat YoY revenue for the global retail benchmark group.

Global Retail (less Food & Drink)

Cyber 5 saw a large +31% YoY increase in clicks but a -26% decline in conversion rate, offsetting the traffic gain.

AMR Retail: Same YoY

• While AMR has been the primary driver of overall peak revenue growth, its Cyber 5 performance remained flat YoY.
• Traffic surged +32% YoY, but conversions dropped -4% with a -27% efficiency decline.
• AMR AOV saw a positive increase of +4% YoY.

EMEA Retail: -1% YoY

• EMEA was close to flat, with revenue decreasing by only -1% YoY.
• This result is notable as EMEA was the only region to see an AOV decrease during Cyber 5, dropping -4% YoY.
• A massive +42% traffic increase helped conversions rise +4% despite a -27% conversion rate decline.

APAC Retail (less Food & Drink): -9% YoY

• APAC saw the sharpest decline in revenue at -9% YoY, primarily driven by a -17% drop in conversions and a steep -41% conversion rate drop.
• A strong +10% YoY AOV increase was not enough to overcome the conversion and efficiency drops.

Key Partner Category Trends

The shift in shopping behavior is also reflected in partner category performance (Nov 1 – Dec 2):

• Global Retail: Coupon and value prop partners saw the biggest YoY decrease in share, while influencers saw the largest gain (+1.1%). The increase in influencer and general Content share, coupled with a 3% YoY increase in mobile revenue, suggests the mobile shopping journey has become more predominant.
• Regional Differences:
  • AMR saw the largest share gain in loyalty partners (+1.4%), while comparison shopping services almost halved in share. Comparison shopping services retained the highest AOV in AMR, suggesting high-value shoppers in this channel.
  • EMEA saw the highest AOV in card-linked offers (CLO), which also had a strong new-to-file (NTF) revenue rate, indicating this category is flourishing in EMEA for shopper acquisition and high spend.
  • APAC is heavily dominated by content and loyalty (80% of revenue). Coupon and value prop partners lost 4% share YoY, but still brought the highest rate of new shoppers among robust partner types.

For even more holiday performance highlights, visit our holiday content hub right here.