Q3 of 2017 saw an impressive continuance of growth in Google Shopping, which is a good sign heading into the busiest time of the e-commerce year. Retailers continued their trend of driving more traffic to earn more conversions and revenue than the previous quarter, and there’s no indication of slowing down.As Cyber Monday grows nearer, retailers certainly seem to be privy to the fact that being aggressive, yet calculated, pays off in the Google Shopping arena.
If They Click It, Revenue Will Come
Retailers saw yet another period of growth in Q3 of 2017, seeing revenue continue to rocket upward another 44%. Once again, increased shopper interaction with Google Shopping ads led to financial gains across the board.
The nearly 2.5 million clicks by shoppers are certainly a large contributing factor to this continued growth, as well as an overall increase in total impressions and impression share.
Year Over Year Growth Strong As Well
Not only is performance increasing quarter over quarter for retailers on Google Shopping, but the year over year growth indicates that the e-commerce market is continuing to grow and flourish. Significant increases in traffic revenue and even slight growth in ROAS in Q3 2017 vs. Q3 2016 are all telling signs of this.
And while retailers are spending 21% more on Google Shopping this year compared to last, their cost per conversion went down by 7%. So even though they’re spending more, efficiency has gotten better with time, and should continue to improve.
Mobile Continues to Shine
The move to mobile for e-commerce retailers has been inevitable, as shoppers are becoming more and more reliant on their devices for their online shopping.
Selling on Google Shopping has been no different, as we’ve seen continued across-the-board growth on mobile devices. Overall traffic grew dramatically this quarter compared to last. Total clicks rose 75%, and click-through-rate even saw a slight bump of 6% as well.
It’s safe to say that in the coming months and years, retailers should certainly optimize their websites for mobile, seeing as the future has arrived.
Shoppers Keep Spending More Online
As shoppers become more and more accustomed to the e-commerce marketplace, the amount they spend with each purchase will continue to grow. This confidence has help lead to the tremendous growth retailers on Google Shopping has seen over the last several years.
Compared to last quarter, we’ve seen a rise in Average Order Value across all of device platforms, which correlates directly with much of the growth retailers are experiencing. The biggest surprise is that tablets have seen the largest quarter over quarter growth in average order value at 29%.
This is certainly retailers should consider as they continue to plan for a busy Q4, and on into the future.