=== Report 1: Refund Rate by Vertical and Quarter, 2025 (written by Viktor) === Engineer's note: Grain is tenants.industry x calendar quarter of captured_at, 2025 only; amounts converted EUR-per-local via exchange_rates (EUR base, local quote, as_of=capture date) as specified. Quarter is labeled Q1-Q4 (year omitted since the report is scoped to 2025 only). REPORT: Refund Rate by Vertical and Quarter, 2025 QUESTION: Which vertical(s) outside Apparel & Footwear drove the rise in company-wide refund rate through 2025, especially the Q2-Q3 spike? vertical | quarter | merchant_count | payment_count | gross_captured_eur | amount_refunded_eur | refund_rate_pct --------------------------+---------+----------------+---------------+--------------------+---------------------+---------------- Apparel & Footwear | Q1 | 11 | 1150 | 216621.44091669368 | 44831.176879493345 | 20.7 Apparel & Footwear | Q2 | 11 | 1169 | 198881.2193894893 | 44578.07783795187 | 22.41 Apparel & Footwear | Q3 | 11 | 1212 | 192047.59636464564 | 42818.10689885081 | 22.3 Apparel & Footwear | Q4 | 11 | 2298 | 470544.8364552379 | 91672.61863472672 | 19.48 Beauty | Q1 | 6 | 280 | 25818.54401057241 | 1085.7447446305723 | 4.21 Beauty | Q2 | 7 | 228 | 25725.83935097318 | 619.50811391392 | 2.41 Beauty | Q3 | 8 | 284 | 29641.158365632327 | 3150.3888966371146 | 10.63 Beauty | Q4 | 7 | 459 | 44113.676007047616 | 2923.057264107972 | 6.63 Books & Stationery | Q1 | 3 | 27 | 1355.1836199234158 | 58.63298735958467 | 4.33 Books & Stationery | Q2 | 3 | 26 | 1434.8048158637575 | 75.81729784451257 | 5.28 Books & Stationery | Q3 | 4 | 17 | 817.6496332968031 | 11.501861056716475 | 1.41 Books & Stationery | Q4 | 4 | 45 | 2023.393101739535 | 40.8426243531702 | 2.02 Consumer Electronics | Q1 | 2 | 7 | 8090.2199209759565 | 57.04991401762959 | 0.71 Consumer Electronics | Q2 | 2 | 8 | 1029.9743631223505 | 0.0 | 0.0 Consumer Electronics | Q3 | 2 | 9 | 11249.432963260206 | 0.0 | 0.0 Consumer Electronics | Q4 | 3 | 21 | 12334.929902163894 | 4479.206917994399 | 36.31 Food & Coffee | Q1 | 3 | 330 | 18354.785502809722 | 62.383472348541886 | 0.34 Food & Coffee | Q2 | 3 | 355 | 18249.53217315367 | 269.9056568395979 | 1.48 Food & Coffee | Q3 | 3 | 363 | 15662.413332444743 | 180.75184916705518 | 1.15 Food & Coffee | Q4 | 5 | 482 | 24928.853024262517 | 368.7037831923822 | 1.48 Home & Living | Q1 | 9 | 167 | 27894.272465097492 | 2433.823480440758 | 8.73 Home & Living | Q2 | 9 | 154 | 23751.388145572895 | 2898.7327936654633 | 12.2 Home & Living | Q3 | 9 | 158 | 24198.566575605862 | 1015.1305518444232 | 4.2 Home & Living | Q4 | 9 | 347 | 55031.91113703543 | 3289.176261514632 | 5.98 Industrial Supplies (B2B) | Q1 | 1 | 30 | 67009.71065267481 | 0.0 | 0.0 Industrial Supplies (B2B) | Q2 | 1 | 42 | 130168.99482296039 | 667.9769975297136 | 0.51 Industrial Supplies (B2B) | Q3 | 1 | 35 | 86880.28106375752 | 0.0 | 0.0 Industrial Supplies (B2B) | Q4 | 1 | 47 | 102428.63827279814 | 879.2332472909086 | 0.86 Jewelry & Accessories | Q1 | 1 | 3 | 708.3609146047186 | 0.0 | 0.0 Jewelry & Accessories | Q2 | 1 | 4 | 789.8097417728766 | 0.0 | 0.0 Jewelry & Accessories | Q3 | 1 | 1 | 474.09138186513644 | 0.0 | 0.0 Jewelry & Accessories | Q4 | 1 | 6 | 1029.6122237688733 | 0.0 | 0.0 Office Supplies (B2B) | Q1 | 2 | 61 | 269281.99522658327 | 538.7285520011415 | 0.2 Office Supplies (B2B) | Q2 | 2 | 43 | 139804.73630781923 | 6759.114464105353 | 4.83 Office Supplies (B2B) | Q3 | 2 | 60 | 156766.32653283176 | 23267.743667366227 | 14.84 Office Supplies (B2B) | Q4 | 2 | 75 | 141893.6413073626 | 0.0 | 0.0 Pet Supplies | Q1 | 5 | 241 | 10973.548507433949 | 137.34976084931193 | 1.25 Pet Supplies | Q2 | 6 | 252 | 12697.327961349287 | 68.52328917673564 | 0.54 Pet Supplies | Q3 | 7 | 264 | 13981.660023570754 | 248.39446202754175 | 1.78 Pet Supplies | Q4 | 7 | 338 | 17623.34787040026 | 423.2845831840298 | 2.4 Sports & Outdoor | Q1 | 4 | 133 | 48481.881703017454 | 4748.589361778662 | 9.79 Sports & Outdoor | Q2 | 4 | 136 | 53277.39476609937 | 8671.6034168609 | 16.28 Sports & Outdoor | Q3 | 4 | 122 | 50531.48401879147 | 7597.09439253762 | 15.03 Sports & Outdoor | Q4 | 5 | 151 | 56351.904767109656 | 6598.52473055408 | 11.71 (44 rows) === Report 2: Merchant-Level Quarterly Refund Rate, 2025 (excluding Apparel & Footwear) (written by Ines) === Engineer's note: Grain is one row per qualifying tenant (>=20 payments in 2025), so the count of tenants excluded by that threshold isn't a column here; if you need that single number, request it as a separate one-row check next time. Quarters with zero qualifying gross for a tenant show a null refund rate (no division by zero). REPORT: Merchant-Level Quarterly Refund Rate, 2025 (excluding Apparel & Footwear) QUESTION: Which specific non-Apparel merchant(s) caused the refund-rate spike in 2025-Q2/Q3? merchant_name | vertical | gross_captured_eur_fy2025 | refund_rate_q1_pct | refund_rate_q2_pct | refund_rate_q3_pct | refund_rate_q4_pct | refund_rate_fy2025_pct -----------------------+---------------------------+---------------------------+--------------------+--------------------+--------------------+--------------------+----------------------- Fell & Fjell | Sports & Outdoor | 36116.68 | 2.4 | 7.97 | 34.28 | 4.36 | 16.2 Trailmark | Sports & Outdoor | 7428.21 | NULL | 2.28 | 24.84 | 39.42 | 31.37 OfficeHub Nordic | Office Supplies (B2B) | 426010.27 | 0.0 | 6.59 | 20.98 | 0.0 | 6.96 Linden & Loom | Home & Living | 37516.18 | 5.88 | 14.69 | 16.4 | 6.84 | 9.44 Gratlinie Outdoor | Sports & Outdoor | 94789.94 | 11.77 | 6.02 | 14.48 | 17.01 | 12.51 Petalcourt Beauty | Beauty | 61911.92 | 2.53 | 2.34 | 12.83 | 7.0 | 6.52 Ampere & Co. | Consumer Electronics | 28882.99 | 2.06 | 0.85 | 12.42 | 1.33 | 2.65 Nordic Bloom Cosmetics | Beauty | 17564.54 | 11.96 | 0.0 | 12.19 | 8.67 | 7.94 Willow & Wren | Home & Living | 18796.06 | 18.55 | 2.7 | 11.2 | 12.23 | 12.78 Ridgeback Gear | Sports & Outdoor | 27032.69 | 13.81 | 4.64 | 10.42 | 23.61 | 13.41 Wiesgrund Wohnen | Home & Living | 37511.41 | 8.82 | 3.22 | 9.85 | 8.08 | 7.58 Saffron & Sage | Beauty | 9866.32 | 0.0 | 0.0 | 9.62 | 11.76 | 7.48 Polder Packaging | Industrial Supplies (B2B) | 90872.65 | 0.0 | 0.0 | 9.08 | 0.0 | 2.79 Juniper Apothecary | Beauty | 17551.04 | 4.71 | 5.69 | 8.85 | 1.82 | 4.75 Fern & Fable | Home & Living | 5535.53 | 0.0 | 0.0 | 8.59 | 7.32 | 5.6 Cinder Peak Sports Co. | Sports & Outdoor | 123713.44 | 13.07 | 16.06 | 7.57 | 16.02 | 13.51 Midland Safety Wear | Industrial Supplies (B2B) | 297398.75 | 0.0 | 0.02 | 7.3 | 4.14 | 3.78 Chocolaterie Mireille | Food & Coffee | 5122.68 | 0.0 | 0.0 | 6.5 | 0.65 | 2.16 Mirelle | Beauty | 4582.59 | 0.0 | 0.0 | 5.99 | 1.23 | 1.92 Spice Route Box | Food & Coffee | 26524.61 | 0.18 | 0.49 | 5.66 | 0.21 | 1.4 Ondine Botanicals | Beauty | 2193.24 | 0.0 | 0.0 | 5.41 | 30.38 | 8.94 Basecamp Nord | Sports & Outdoor | 9869.46 | 0.0 | 7.5 | 5.3 | 8.16 | 5.59 Velo Noord | Sports & Outdoor | 9780.02 | 14.31 | 31.83 | 5.16 | 8.48 | 11.39 The Balm Room | Beauty | 13879.18 | 6.22 | 2.06 | 4.55 | 6.44 | 5.28 Wohnglück | Home & Living | 21016.27 | 5.16 | 11.82 | 4.45 | 7.0 | 6.79 Kayak Corner | Sports & Outdoor | 39742.21 | 12.31 | 9.65 | 4.32 | 3.38 | 8.51 Fennel & Flint | Home & Living | 64363.83 | 7.67 | 10.76 | 4.29 | 3.96 | 5.84 Feather & Fin | Pet Supplies | 10162.91 | 1.1 | 0.0 | 3.9 | 8.7 | 4.09 Coastline Interiors | Home & Living | 20804.3 | 2.76 | 15.09 | 3.24 | 6.03 | 6.39 Honeycomb Larder | Food & Coffee | 31948.08 | 0.0 | 1.6 | 3.18 | 0.06 | 0.99 (30 rows) === Report 3: Refund Figures Cross-Check: Payments vs Order Returns, 2025 (written by Grace) === Engineer's note: Both totals are converted to EUR by dividing the merchant-currency amount by the EUR exchange_rates.rate matched on the event date (captured_at for payments, refunded_at for order_returns), per currency, before summing. difference_eur = payments figure minus order_returns figure; difference_pct is that difference as a percent of the payments figure (null if the payments figure is zero for a quarter). REPORT: Refund Figures Cross-Check: Payments vs Order Returns, 2025 QUESTION: Do the payments-table refund amounts we've been reporting agree with the independent order_returns (RMA) records, or is one source overstating/understating refunds? quarter | amount_refunded_eur_from_payments | refund_total_eur_from_order_returns | difference_eur | difference_pct_of_payments_figure --------+-----------------------------------+-------------------------------------+----------------+---------------------------------- 2025-Q1 | 53953.48 | 74426.38 | -20472.9 | -37.95 2025-Q2 | 64609.26 | 54413.77 | 10195.49 | 15.78 2025-Q3 | 78289.11 | 46541.26 | 31747.85 | 40.55 2025-Q4 | 110674.65 | 134322.6 | -23647.95 | -21.37 (4 rows)