Google Shopping Benchmarks & Statistics for 2023
Google Shopping can be dead useful and highly profitable for marketers who have physical products to sell. It’s one of our go-to platforms that we use to help our clients grow their businesses and increase sales.
Knowing what you’re getting into when you’re starting with a new platform can always be helpful, and it’s common that our clients ask what sort of results they can expect to get. We show them up-to-date benchmarks.
So if you’re wondering what sort of results you might be able to expect, let’s take a look at some of the most significant Google Shopping benchmarks and statistics that you need to know for 2023.
We know that Google Shopping has been a popular platform for a few years, and these statistics back up that knowledge:
- Google searches account for around 36% of product discovery, and Shopping listings can help feature your products high at the top of those search results
- Shopping ads drive 76% of search ad spend for the eCommerce industry, meaning that it’s getting a large number of clicks and that brands are investing large portions of their ad budgets into this platform
- Google Shopping spend grew by 41% more than text ads from 2018 to the first few months of 2019
- Shopping Ads currently generate 85.3% of all clicks on Adwords and Google Shopping campaigns combined
Google Shopping shows no signs of slowing down in terms of effectiveness of popularity for advertisers and shoppers alike.
There are a few Google Shopping Ad performance metrics that all marketers and advertisers should know:
- The average CTR of Google Shopping Ads is .86%
- The average cost per click (CPC) of Google Shopping Ads is $0.66, which often yields exceptional profit for many brands
- The average Google Shopping Ads conversion rate is 1.91%
- The average Google Shopping Ads is $38.87
- The average Google Shopping Ads budget is $770.41, thoug this varies significantly by industry
When considering Google Shopping campaigns, it’s important to understand how user behavior can impact your decisions:
- Mobile devices are responsible for 65% of clicks on paid Google search results
- 70% of smart phone users will look up information online before buying something in a store, so you can capture high-intent users when they’re actively considering purchases
- 59% of shoppers surveyed say that being able to shop on mobile is important when deciding which retailer to purchase from, so have those mobile-friendly landing pages ready for all of your product listings
- 49% of shoppers surveyed say they use Google to discover new products
- 83% of shoppers say that the ability to make easy returns is important to them when deciding who to purchase from, so factor that in when setting up Google’s Merchant Center
- 35% of shoppers have purchased repeatedly from brands that they first discovered online, including through ads
- Almost 60% of shopping queries on Google Search are upper-funnel, meaning they’re looking to find a specific product from a broad category
- 72% of voice-activated speaker owners say that voice-activated speakers have become part of their routine, and 44% say they use it to order household items; keep this in mind adjust keywords and product descriptions accordingly
We know that Google Shopping Ad benchmarks can be useful. They can give you a solid idea of what results that other brands are currently getting, and what’s considered average at the moment. That being said, we do want to acknowledge that there are limitations to Google Shopping Ad benchmarks, or even benchmarks of any kind.
Google Shopping benchmarks and statistics are never going to be 100% perfect, because they’re only that: Benchmarks. They’re not guaranteed results. Results often vary heavily from industry to industry, along with factors like customer behavior, the existing market, and competition for the products you sell. This means that out-of-date benchmarks or even out-of-season benchmarks could become less-than-useful.
That being said, they’re still helpful; they can give you a solid idea of what to expect and what ballpark you’ll likely be in. This gives you a good starting point, and you can adapt accordingly.
And if you have any questions about your brand’s specific performance (compared to competitors or benchmarks or otherwise!), don’t be afraid to get in touch with us. We can do a free consult to give you an idea of if we think you could take measures to get more results at lower costs, and if so, how we could help you.
All of the Google Shopping benchmarks and statistics show that the platform can be incredibly affordable, scalable, and offer plenty of incredible ROI.
You’ll want to look at the CPCs and CPAs for your specific industry to gauge how much you should be bidding and how profitable it will be, but many of our clients see exceptional return on ad spend (ROAS) that allow them to scale their campaigns further.
Getting ready to run some campaigns of your own, or looking to scale your Google Shopping campaigns? Get in touch with us and learn more about how our solution-driven Google Ads services can help you.