Google Ads cost-per-click for European e-commerce advertisers rose 15% YoY, about €0.06, while return on ad spend fell more than 40%, according to a benchmark of €1.38B in spend across 10,000-plus advertisers from Channable, a Dutch e-commerce feed-management firm. ROAS dropped 43% on Standard Shopping and 46% on Performance Max, driven by the higher click costs and a slight dip in Performance Max conversion rates, leaving brands paying more for weaker returns. Costs climb further heading into Q4, with combined Google Ads CPC 9.1% higher and total ad spend 47.9% higher than in Q1 2025, pushing brands to lift budgets for the Cyber Week and holiday rush.
