Google Shopping report says the future is mobile
The 2018 Google Shopping Benchmarks Report by Sidecar shows Google Shopping is the still the key marketing and shopping platform for retailers selling online. Total revenue within the channel increased 64 percent from 2016. Mobile’s share of revenue increased 19 percent, accounting for 36 percent of total revenue in 2017.
As consumers broaden their queries to browse or shop in Google, for example searching for ‘pink silk dresses’ instead of ‘dresses,’ retailers can learn the search terms that are the best fit for their goals and budget.
Mobile search and device conversion shopping is on the rise
Cross-device conversion of desktop to mobile rose 259 percent year over year in 2017 and shoppers bucked the trend of researching on mobile and buying on desktop.
Despite surging traffic, mobile conversions historically have trailed far behind desktop conversions in Google Shopping. As a result, retailers tended to bid conservatively on mobile and aggressively on desktop, where shoppers were more likely to convert.
The report is based on a sample of 300 US retailer, analyzing Google AdWords data from 2017 and comparing it with same store data from 2016. Market segments include fashion, accessories, beauty and jewellery.
Fashion saw a year on year growth of 8 percent on its return on advertising, comparable to jewellery which saw a 10 percent increase. Cost per click for fashion was down 7 percent and jewellery up 14 percent.
According to Sidecar’s forecast, online and in-store experiences will be merged, as consumers love the convenience of online shopping, but also the tactile experience of in-stored.
How to stay ahead of the curve?
Staying competitive requires understanding performance at the most granular level, spotting unique growth opportunities within campaigns, and competing strategically with budgets.