Google Shopping rebuild took ROAS from 2.1× to 4.6× in one quarter.
The brief: a £45M-revenue homeware DTC running flat at 2.1× blended ROAS for nine months. The previous agency was bidding to last-click, the feed was a single auto-import from Shopify, and Performance Max had eaten the entire shopping budget without segmentation.
What we did
- Manually segmented the product feed into nine performance buckets — best sellers, new arrivals, clearance, low-margin SKUs, etc.
- Split P-Max into asset groups by margin tier and capped low-margin spend.
- Rebuilt the bid strategy on margin-weighted target ROAS, not revenue ROAS.
- Cut 28% of historical keywords that converted but did not retain.
Result: Blended ROAS 2.1× → 4.6× in 90 days. CAC down 38% with the same monthly spend. Retained customer share of revenue up 19 points.


