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Analyze deep-funnel metrics including ROAS and conversion trends across Europe.
Data from the
full time range
Additional charts for
deeper insights
Filter the data
by Industry
Monthly Newsletter
with top trends
Data from a big amount of ad campaigns (incl. 4000+ PMax campaigns)
Built on €450M+ annual ad spend showing real market patterns
Data from a big amount of ad campaigns (incl. 4000+
PMax campaigns)
Tracks Search, Shopping and PMax shifts - always up to date
and filterable
Built on €450M+ annual ad spend showing real market patterns
Observe movements of big auction players to stay ahead of the competition and apply adaptive strategies.
Observe the CPC dynamics in Google Ads for the Ecommerce and Retail verticals accross Europe.
Summary
In June 2026, Search CPC rose to approximately 0.46 euros, and Shopping increased to roughly 0.39 euros, while Performance Max remained stable near 0.40 euros. Looking at the second quarter of 2026, Shopping and Performance Max experienced year-over-year CPC increases of 7 percent and 6 percent respectively, whereas Search showed zero percent change.
Track Google Ads impressions, clicks, conversions, and cost across Search,
Shopping, and Performance Max - catch problems before they hurt your budget or identify wins to scale.
Summary
During late spring in April and May 2026 both clicks and impressions exhibited a gradual downward trend. A prominent Q2 2026 shift occurred in YoY clicks with Performance Max growing 2% while Search and Shopping fell 1%. Meanwhile Q2 impressions dropped across all channels with Search declining 4% Performance Max 6% and Shopping 8%.
Summary
In late spring 2026 both cost and conversions showed a slight downward trend. During Q2 2026 Search conversions plummeted 22 percent with zero percent cost change. Performance Max conversions grew 5 percent alongside a 4 percent cost increase while Shopping conversions dropped 8 percent despite a 1.5 percent cost rise.
Monitor CTR, conversion rates, ROAS, and AOV by campaign type and device and see which channels
drive profitable growth and where efficiency is slipping.
Summary
During the last month, Search campaigns exhibited the most prominent shifts, with ad engagement surging as CTR reached 15% compared to roughly 11% the previous year. Conversely, purchase intent for Search declined significantly, with the conversion rate dropping to 4.5% from the previous year's 6.5%. Meanwhile, Shopping CTR saw a modest rise to 1.8%.
Summary
In the final month, current median ROAS ends at approximately 6.1, highlighting a massive year-over-year gap around mid-April where it held near 5.9 compared to the previous year's sharp drop to 4.2. Meanwhile, current AOV closes at roughly 92, converging with the previous year's 90 despite an earlier mid-April gap of 89 versus 75.
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Data from the
full time range
Additional charts for
deeper insights
Filter the data
by Industry
Monthly Newsletter
with top trends
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The Market Observer analyzes data from €450M+ annual retail ad spend across Europe, covering thousands of active Google Ads campaigns. Industry verticals include Fashion, Electronics, Home & Garden, Health & Beauty, Sporting Goods, and more—giving you relevant benchmarks for ecommerce performance.
We refresh the data every week, so you're always seeing current market trends, not outdated snapshots. Weekly updates ensure you can spot shifts in CPCs, conversion rates, and competitive activity before they significantly impact your campaigns.
We track Search, Shopping, and Performance Max campaigns separately, so you can compare performance across all three channels and understand which delivers the best results for your goals.
smec’s benchmark tool helps you make smarter, faster Google Ads decisions by showing whether performance changes are campaign issues you control or market-wide trends you need to adapt to. Here's how to use the data:
a. Benchmark your Google Ads performance against Industry standards
Compare your Google Ads metrics like CPC (cost-per-click), CTR (click-through rate), conversion rates, ROAS (return on ad spend), and AOV (average order value) to European ecommerce benchmarks. If your metrics are below average, you know where to focus optimization efforts.
b. Diagnose Google Ads Problems Faster with Market Context
When conversion rates or ROAS drop, check if smec’s benchmark tool shows the same decline across Search, Shopping, and Performance Max campaigns. If yes, it's likely due to larger forces like seasonality, competitive pressure, or changes in demand – adjust expectations and strategy. If no, it's likely a campaign-specific issue – audit Google Ads search terms, landing pages, bids or assets.
c. Contextualize Google Ads budget decisions to Stakeholders
Use smec’s benchmark tool data in Google Ads performance reports to show that, for example, rising CPCs or declining ROAS aren't isolated to your campaigns when the entire ecommerce market is experiencing the same trends. This turns defensive conversations into strategic planning backed by real benchmarks.
d. Identify Google Ads Budget Reallocation Opportunities
If you're underperforming a growing channel, there could be a chance to invest more. Looking at your CPC development compared to the markets could help get a first idea of whether you can do so profitably.
e. Plan Google Ads Seasonal Adjustments Proactively
Look at past data in smec's benchmark trends to anticipate Google Ads CPC spikes, conversion rate changes, or impression share shifts during peak retail periods (Black Friday, Q4). Adjust budgets and ROAS targets ahead of time instead of reacting after the fact.
f. Validate Google Ads optimization impact
After making Google Ads campaign changes, like refreshing ad creative, updating landing pages, or adjusting bid strategies, compare your performance trends to our tool’s benchmarks over the following weeks. If you're closing the gap or outperforming, it’s an indicator that your optimizations were effective, and are not merely due to market changes. If not, try different tactics.
Core metrics like CPC trends, funnel data, and median Google Shopping impr. share are completely free with no signup required. To unlock industry-specific filtering (Fashion, Electronics, etc.) and full historical data, register for PRO access above. It's free to sign up.
Absolutely. You're free to reference Market Observer data in internal reports, client presentations, or strategy decks. Just credit smec as the source when sharing externally.
Google provides benchmarks, but they're often generic and limited. The Market Observer focuses specifically on ecommerce and retail with deeper competitive insights, like Amazon's impression share and Performance Max efficiency trends, that Google doesn't surface in their dashboards.
We're constantly expanding vertical coverage. If your industry isn't available yet, register for PRO anyway, we'll notify you when we add your vertical, and the core market-wide metrics are still valuable for spotting broader trends.
Yes. Core funnel and performance metrics, median Shopping impr. share, and market trends are 100% free with no credit card required. PRO features (industry filtering, extended historical range, additional charts) require a simple registration, but it's still free.
This tool is built for PPC managers optimizing Google Ads campaigns, marketing managers justifying ad budgets to leadership, agency professionals benchmarking client performance, and ecommerce/retail executives making strategic decisions based on competitive intelligence.
We've crunched the numbers based on nearly two thousand Google Ads accounts for ecommerce.
A Q4 2025 analysis of over €650M in European ad spend across Search, Shopping, and PMax to reveal where performance is heading.
A Q1 2026 analysis of over €650M in European ad spend across Search, Shopping, and PMax to reveal where performance is heading.