The document provides a summary of affiliate marketing sales index data for various retail verticals in the US through January 2022. Key points include: - Travel affiliate marketing sales increased 64% year-over-year in January while Gifts & Flowers decreased 15% YoY. - Overall affiliate marketing revenue was down 1% YoY for January, with clicks down 10% but average order value up 11%. - Content publisher affiliate signups and revenue grew in January compared to last year while other publisher types like coupon and loyalty decreased. - The number of revenue generating connections between advertisers and publishers increased 4% YoY, indicating growth in the affiliate channel.

1. Updated through January 31st 2022
U.S. Retail Affiliate
Marketing Sales Index

2. Vertical status
through January 2022
Surging
Increasing
Decreasing
+64% YoY Travel
-15% YoY Gifts & Flowers
+5% YoY Clothing & Apparel
-17% YoY Health & Beauty
+31% YoY Accessories & Jewelry
-5% YoY Sports & Fitness
-7% YoY Food & Drink
-6% YoY Computers & Electronics
+1% YoY Art, Photo & Music
-9% YoY Home & Garden
In developing the U.S. Retail Affiliate Marketing Sales Index we
measured the gross merchandise sales directly attributable
to affiliate marketing promotions for the period beginning
January 1st
through December 31st
and compared them
against the affiliate gross merchandise sales for the
same period in 2021.
We analyzed performance in 10 retail categories comprised
of ~700 retail brands as tracked in the platform.
Additionally, commission trends, publisher activity and
customer behavior were also examined.
Introduction
The U.S. Retail Affiliate Marketing Sales Index data is not intended as a proxy for overall affiliate marketing activity, e-commerce activity overall, or the performance
of any individual business, including Partnerize. On a periodic basis, we review and update our same store flag methodology as new stores join the platform.
On June 20th, 2021, we updated our same store logic to more closely reflect trend activity. Periodic normalization to account for data anomalies may also occur. 02

3. Monthly Revenue Trends
January saw a 1% decrease in overall YoY revenue.
Gross Revenue YoY Growth
10%
30%
40%
20%
50%
0%
1%
-1%
Nov. 2021
20%
Jan. 2022
8%
1%
Dec. 2021
Feb. 2021
34%
Mar. 2021
41%
Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021
11%
-2%
17%
-5%
Oct. 2021
16%
Apr. 2021 May 2021
-10%
03

4. Clicks YoY AOV YoY Conversion Rate YoY
Drivers of Monthly Revenue Growth
While clicks were down 10% in January, average order value (AOV) was up
11% YoY with conversion rate decreasing just 1%.
YoY
Growth
Rate
20%
10%
30%
0%
-10%
-20%
-4%
10%
17%
-10%
16%
-5%
5%
-5%
-8%
2%
-9%
-23%
-9%
-7%
4%
-10%
10%
19%
-1%
2%
3%
13%
11%
23%
1%
23%
-15%
2%
17%
19%
-5%
21%
-4%
20%
6%
21%
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
04

5. Variable Commission YoY
Total Commission YoY
Monthly Commission Trends
YoY
Growth
Rate
•
•
Commissions paid to publishers are comprised of two types:
1. “Variable Commission” is defined as a percentage of revenue or conversion
2. “Bonus Commission” is defined as a flat amount typically associated with paid placements or media buys
“Total Commission” is defined as the total of “Variable commission” plus “Bonus commission”
In January, we observed a 1% decrease in "variable commission" and a 1% decrease in "Total Commission".
15%
20%
25%
30%
5%
10%
0%
7%
8%
1%
-1%
17%
19%
14%
11%
25%
34%
1%
3%
37%
38%
2%
7%
18%
19%
24%
27%
35%
33%
19%
15%
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
35%
40%
8%
13%
05

6. Variable Commission Rate and Growth YoY
Variable commission rate 2021
Variable commission rate YoY Variable commission rate 2020
Monthly Variable Commission Rates Trends
Variable commission rates held steady in January at 6.1% compared to the prior year.
0%
2%
4%
6%
-2%
-4%
0%
5%
-5%
-10%
-6%
-8%
YoY
Growth
Rate
Publisher
Variable
Commission
Rate
8%
-15%
10%
15%
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
20%
06

7. % of Revenue from Mobile in 2021
% Mobile Revenue 2021
% Mobile Revenue YoY
Monthly Mobile Revenue Share
Mobile revenue was down 1% in January.
Mobile revenue share represented 33% of all conversion activity.
2%
0%
-2%
35%
30%
25%
10%
5%
%
Mobile
Revenue
YoY
%
Mobile
Revenue
in
2020
0%
-4%
4%
-8%
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
15%
20%
6%
-6%
-10%
07

8. -60%
-40%
-20%
20%
-80%
-100%
Revenue Growth by Advertiser Vertical
Nov. 2021
Sep. 2021 Oct. 2021 Dec. 2021 Jan. 2022
Accessories &
Jewelry
Art, Photo &
Music
Computer &
Electronics
Food & Drinks Gifts & Flowers Health & Beauty Home & Garden Sports & Fitness Travel
Clothing &
Apparel
40%
60%
0%
80%
08

9. % of Revenue from New Customers in 2021
% New Customer 2021
% New Customer YoY
Monthly New Customer Revenue Share
In January, the % of revenue from new customers was 45%, a YoY increase of 10% for the same time period last year.
15%
20%
10%
5%
-5%
0%
%
of
Revenue
from
New
Customers
YoY
Growth
%
of
Revenue
from
New
Customers
in
2020
30%
35%
20%
50%
10%
0%
5%
-10%
15%
25%
45%
40%
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
09

10. New Customer Revenue by Publisher Category
Content publisher has a New Customer rate of 61% in January followed by Other at 45%,
Coupon at 42% and Loyalty at 33%.
40%
30%
50%
60%
20%
10%
0%
%
of
Revenue
from
New
Customers
in
2020
% of Revenue from New Customers in past 12 months by Publisher Category
Loyalty
Coupon/Value Propositions Other
Content
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
10

11. 0%
10%
20%
50%
70%
80%
90%
100%
YoY
Growth
Rate
by
Fiscal
Week
and
Vertical
Content Publisher Share of Variable Commission
Content Publisher YoY Revenue and Commission Trends
Content Publisher Revenue YoY Growth Rate
8%
2%
80%
17%
81%
19%
32%
0%
41%
18%
29%
33%
-5%
0%
5%
10%
15%
20%
30%
35%
40%
45%
5%
30%
45%
Content
Publisher
Share
of
Variable
Commission
Content
Publisher
Share
of
YoY
Variable
Commission
Growth
2020
YoY 2021
Content partner Share of Variable Commission was 44% in January,
increasing 3% YoY.
Coupon publishers’ Share of Variable Commission decreased slightly YoY
by 1% and Loyalty decreased by 3% YoY, while Other publishers
decreased 1% YoY.
During the pandemic, we have observed extremely high revenue growth
for Content publisher partners.
In Janunary, YoY revenue growth for content partners was up 2%.
20%
10%
0%
Nov.
2021
Jan.
2022
Dec.
2021
Feb.
2021
Mar.
2021
Jul.
2021
Jun.
2021
Aug.
2021
Sep.
2021
Oct.
2021
Apr.
2021
May
2021
Nov.
2021
Jan.
2022
Dec.
2021
Feb.
2021
Mar.
2021
Jul.
2021
Jun.
2021
Aug.
2021
Sep.
2021
Oct.
2021
Apr.
2021
May
2021
25%
50%
40%
15%
25%
35%
-5%
-10%
30%
40%
60%
11

12. Publisher Partner Application Growth YoY
Publisher partner applications surged during the continuous months of 2020, growth not seen in prior years.
In Q4 2021, partner sign ups remained steady, although YoY growth seemingly slowed, due to the significant
growth experienced in the year prior. However, partner applications decreased in January 14% YoY.
0%
120%
20%
100%
-2%
-8%
97%
115%
13%
-9%
4%
14%
-29%
-23%
-26%
-14%
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
-20%
40%
60%
80%
140%
-40%
12

13. Content Coupon Loyalty Other Social Media
% of Approved
Publisher Sign Ups
by Type
In 2020, publisher applications were largely
from content partners. However, in 2021, we
have observed an increase in publishers
classified as ‘Social media’, suggesting
that more influencers are turning to
affiliate marketing to monetize their
content and leverage the channel as a
revenue stream.
60%
50%
100%
90%
80%
70%
40%
30%
20%
10%
0%
1.11.20 Jan. 2022
%
of
Approved
Publisher
Sign
Ups
by
Type
in
2020
13

14. Average
Revenue
Generating
Connections per
Advertiser
As partner applications continue to
grow, so do the number of revenue
generating connections between
advertisers and partners.
In January, we observed a 4%
increase in the number of
advertiser-publisher connections
that generated revenue.
This suggests a mutual interest from
both advertisers and publishers to
speed activation and time to
revenue within the affiliate channel.
15%
25%
20%
10%
5%
0%
YoY
Growth
Nov. 2021 Jan. 2022
Dec. 2021
Feb. 2021 Mar. 2021 Jul. 2021
Jun. 2021 Aug. 2021 Sep. 2021 Oct. 2021
Apr. 2021 May 2021
20%
40%
25%
10%
0%
-5%
5%
15%
30%
35%
14

15. Insights by vertical.

16. Clothing &
Apparel
Computer &
Electronics
Accessories
& Jewelry
Art, Photo
& Music
Click and Revenue YoY Growth Rate by Vertical
Clicks YoY
Gross revenue YoY
All data represents YoY growth for the end of January 2022.
Clicks YoY
Gross revenue YoY
Clicks YoY
Gross revenue YoY
Clicks YoY
Gross revenue YoY
-19%
31% 1%
17%
5%
-3%
-6%
-25%
16

17. Health &
Beauty
Home &
Garden
Food &
Drinks
Gifts &
Flowers
Click and Revenue YoY Growth Rate by Vertical
Clicks YoY
Gross revenue YoY
-7%
Clicks YoY
Gross revenue YoY
Clicks YoY
Gross revenue YoY
Clicks YoY
Gross revenue YoY
-43%
All data represents YoY growth for the end of January 2022.
17%
0%
-9%
-28%
-29%
-15%
17

18. Sports &
Fitness Travel
Click and Revenue YoY Growth Rate by Vertical
Clicks YoY
Gross revenue YoY Clicks YoY
Gross revenue YoY
-5%
-30%
All data represents YoY growth for the end of January 2022.
14%
64%
18

19. Interested in learning more with a Partnerize expert?
Contact us at contact@partnerize.com
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Analytics
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Clicks Conversions Total order value Pending commission
123,456 1,234 $1,234.56 $12,345.67