E-commerce advertisers spent 39% of their search budgets on Shopping campaigns and 37% of their social budgets on product ads in the third quarter of the year, according to new Kenshoo data.
Social outpacing search. Spending on social product ads among Kenshoo e-commerce advertisers accelerated in the third quarter, increasing 42% compared to the previous year. Meanwhile, product ad spend on search grew by 17% year-over-year in the third quarter – a deceleration from the previous quarter.
The relative slow in Shopping campaign spend meant it had less overall impact on search spend, which grew 7% year-over-year and just 2% from the second quarter of 2019. Paid social spend increased by 32% year-over-year, driven by Instagram, video and product ads.