Q2 2023 Quarterly Trends Report
- How performance marketing channels responded to shifting consumer demands
- How advertisers reached consumers in a changing economy
- Key performance indicators for the second quarter of the year across retail media, paid search, and paid social
- Details on what drove notable trends and changes over time in each advertising channel, as well as how commerce interacted with those channels
Retail media: Retail media spending growth accelerated to 35% year-over-year. Average CPC was stable YoY, which means that increasing click volume was the primary driver of growth over that period.
Paid social: The fundamental trend of “more impressions at lower prices” continued into Q2, resulting in an overall 4% dip in YoY spending. Awareness & Engagement campaign objectives, video ads and Instagram bucked that trend, with positive spending growth.
Paid search: Search spending grew 3% year-over-year. Performance Max helped move the needle for shopping campaigns, and for search spending as a whole.
In this report:
Download the report to learn quarter-over-quarter and year-over-year digital advertising campaign performance trends from Q2 2023. Highlights include:
- Improving economic conditions are beginning to spur ad spending growth.
- Long-term and short-term trends showed evidence of stronger consumer demand over the past six months, particularly in retail media and paid search.