OpenAI is facing a projected $25 billion shortfall, and their attempt to monetize ecommerce is already falling apart.
In this episode of Growing Ecommerce, Mike Ryan and Chris Scharmüller ask the billion-dollar question: Is the dream of "agentic commerce" already dead on arrival?
While the media celebrates OpenAI's early $100 million in ad revenue, the math tells a much darker story. Their projected 2026 burn rate sits between $14 and $25 billion. To survive, they need a massive, highly profitable ad network—but their recent retail experiments are failing the test.
We break down why ChatGPT quietly killed off its new "Shopping Research" feature (hint: consumers won't wait minutes for an AI to fetch product recommendations). We also reveal the shocking data from Walmart’s early checkout test within ChatGPT, where in-app conversions were three times lower than standard website traffic.
If ChatGPT wants to steal budget from Google Ads and Meta, they have to prove they can actually drive profitable sales. Right now, the data suggests users simply aren't ready to let an AI agent do their shopping.

Key Takeaways & SEO Insights:

• The Revenue Reality: Generating $100M in two months is impressive, but with Capital Expenditures (CapEx) skyrocketing to compete with Google and Microsoft, OpenAI's projected losses are staggering. Advertising is their most obvious path to close that gap.
• Speed vs. Quality in E-commerce: OpenAI shut down its specialized post-trained shopping model because generating deep product analyses took too long. In retail, friction kills adoption.
• The Conversion Crisis: Early tests with major retailers like Walmart showed that instant checkouts within ChatGPT converted at a rate 3x lower than traditional website traffic. If they can't drive efficiency, advertisers won't shift their budgets.
• The Scraping Band-Aid: OpenAI's reliance on scraping Google Shopping data for product recommendations shows they are still heavily dependent on their biggest competitor to power their agentic commerce dreams.

Resources & Links:

• Access all our webinars, reports, and playbooks in our Knowledge Hub: https://smarter-ecommerce.com/en/knowledge-hub/
• How is your industry stacking up in the market? Find out with smec’s Google Ads Benchmarks:
  https://smarter-ecommerce.com/en/smec-market-observer/

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

Ever wonder what the biggest e-commerce brands are discussing behind closed doors? We are opening up the vault. 🤫

In this episode of Growing Ecommerce, Mike Ryan and Chris Scharmueller give you a backstage pass to their recent strategy meetings with some of Europe's largest retailers. We are unpacking the exact playbooks, fears, and tactics dominating the boardrooms of the top 1% right now.

Forget the basic tutorials—this is what the mega-brands are actually testing. First, we tackle Google's controversial new push for "Demand Led Growth" (DLG). Are the top retailers really giving Google unlimited budgets, or is there a smarter way to use Target ROAS to capture demand spikes.

We also break down the reality of the Universal Commerce Protocol (UCP) and why Europe's smartest marketing teams are obsessing over conversational feed attributes to win the AI search war. Finally, we reveal what CMOs are secretly telling their CFOs: With Chinese giants like Temu driving up costs, cheap incremental growth is dead. Discover why Marketing Mix Modeling (MMM) is the new survival tool for 2026.

🔗 Resources & Links:

• Access all our webinars, reports, and playbooks in our Knowledge Hub: https://smarter-ecommerce.com/en/knowledge-hub/
• How is your industry stacking up in the market? Find out with smec’s Google Ads Benchmarks:
  https://smarter-ecommerce.com/en/smec-market-observer/

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

Is the "clash of the titans" coming for your profit margins, and is Google about to take away your website traffic?

In this episode of Growing E-commerce, Mike Ryan and Chris Sharma tackle two massive, existential shifts threatening the traditional online retail playbook.

First, we dive into the aggressive European expansion of Chinese e-commerce giants. While JD.com (Joybuy) and SHEIN are making aggressive moves, Temu is completely taking over. We break down the official monthly active user data, revealing that Temu now commands a 40% overall market share in Europe – including a staggering 71.1% market share in Poland and 44% in Germany.

Are European retailers simply becoming collateral damage in this war of attrition?

Then, we unpack a recently granted Google patent that sounds like a sci-fi nightmare for marketers. The patent outlines a system where Google evaluates your landing page, and if it doesn't meet their qualitative standards, they will generate an AI replacement landing page within the ad ecosystem. We discuss what this means for the loss of your tracking data, zero-click purchases, and the ultimate "PMax-ification" of Google Ads.

🔗 Resources & Links:

• Access all our webinars, reports, and playbooks in our Knowledge Hub: https://smarter-ecommerce.com/en/knowledge-hub/

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

Why did OpenAI quietly kill its shopping feature, and what does it mean for the future of Google Ads? 🚨

In this episode of Growing E-commerce, Mike Ryan and Chris Sharma tackle the reality of the "AI takeover" in paid search. Following Chris's exclusive executive Think Tank with 20 leading CMOs in London, we are cutting through the noise to discuss the 2026 playbook.

First up: The ChatGPT Shopping disaster. We discuss why OpenAI had to walk away from its "thin Google Shopping wrapper" to save its burn rate, and why Google's ad ecosystem dominance is stronger than ever. We also dive into the "Wild West" of agentic commerce, including Amazon's massive legal battle with Perplexity over spoofed traffic and lost ad revenue.

But it's not all drama! The second half of this episode is a pure, actionable deep dive into the future of Google Product Feeds. With AI search queries getting 2.5x longer, we break down exactly how to future-proof your

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

If you want to know how your peers are actually handling the grind, the Google Ads updates, and the "AI takeover," this episode is a must-watch.

We recorded a special edition of Growing Ecommerce live from SMX Munich! Host Mike Ryan is joined by Wijnand Meijer (Co-founder & CEO at TrueClicks) and Frederick Vallaeys (CEO at Optmyzr) to dive deep into the freshly released Global State of PPC 2026 Report.

This isn't just another PDF to gather dust in your downloads folder. Driven by the team at TrueClicks and supported by top industry partners, it’s an unfiltered reality check for the entire paid search industry.

With 1,300+ respondents spilling the tea across 60+ charts and 14,000 words, we unpack the hard insights on agency billing, Performance Max workarounds, and why AI isn't saving us as much time as the tech bros promised.

• The Complexity Struggle: 53% of practitioners say managing PPC is harder than it was two years ago.
• Agency Operations: Agencies managing over $1M/month are doing so with 20% fewer people. Yet, 1 in 5 agencies still charge by billable hours (with heavy geographical differences: only 4-12% in the US/AUS vs. 25% in Europe).
• The PMax Paradox: 48% complain about a lack of granular control, leading to workarounds like standard shopping hybrids (37%) and feed-only builds (17%). Despite this, 65% are satisfied with their PMax results.
• The AI Elephant in the Room: On average, professionals report saving only 5.2 hours a week using AI. Furthermore, 70% state that quality and accuracy (hallucinations) are their biggest AI hurdles.
• The Tool Stack: Surprisingly, 62% of respondents don't use paid third-party tools for analysis or optimization, relying entirely on native interfaces and spreadsheets.
  
  Resources & Links:
• Read the full, unfiltered report for free at: www.ppcsurvey.com
• A massive thank you to Wijnand Meijer and the TrueClicks team for driving this monumental effort.
• Shoutout to all the fellow partners for making this happen: DataFeedWatch by Cart.com, God Tier Ads, Hero Conf, Optmyzr, Producthero, SMX Advanced Europe, Swydo, TrueClicks, and Smarter E-commerce (smec).
• Learn more about Smarter E-commerce: smarter-ecommerce.com

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

In this episode of Growing E-commerce, Mike Ryan and Chris from Smarter Ecommerce (smec) tackle the massive news that DSA's time on Earth is limited. With DSA going the way of the dinosaurs, Google is pushing advertisers toward AI Max for Search. But is it actually a worthy replacement?

To find out, Mike breaks down the findings from his brand-new 18-page report, The Ultimate Guide to AI Max. After analyzing 1 year of data across more than 600 Google Ads search campaigns, the numbers tell a nuanced story about incrementality versus efficiency.

We cover exactly what AI Max is, how it overlaps with PMax and Broad Match, and the real cost of those "incremental" conversions. If you are a heavy DSA user, this is the exact data you need to start planning your migration strategy!

📊 Key Takeaways from the 600-Campaign Study:

• The DSA Sunset: Google confirmed DSA will eventually be retired, making AI Max the logical testing ground for future-proofing your search strategy.
• The Incrementality Reality: AI Max does generate more conversions (about 13% more on average), but it comes at a cost.
• The Efficiency Trade-Off: Cost Per Acquisition (CPA) is typically 16% higher.
• ROAS Volatility: While Google claims AI Max maintains similar efficiency, the data shows a very broad, flat distribution of ROAS outcomes—meaning active management is required.
• Cannibalization Risks: 48% of AI Max users are also running DSA and PMax, leading to potential account bloat and self-competition.

🔗 Resources & Links:

• Download the free 18-page Ultimate Guide to AI Max (PDF, Long-form article, and Script): https://smarter-ecommerce.com/blog/en/google-ads/the-ultimate-guide-to-ai-max-for-google-search/

About Mike Ryan:

Based in Austria and originally from Boston, Mike Ryan is the Head of Ecommerce Insights at Smarter Ecommerce (smec) with over ten years of experience in retail and PPC landscape. With a robust background spanning retail operations, product management, and digital ads, Mike leverages his multidisciplinary expertise to drive data-informed strategies that help online retailers optimize their performance in an increasingly competitive market.

About Christian Scharmueller:

As a seasoned veteran in the PPC and Ecommerce space, Christian Scharmüller serves as the CCO & Managing Director of Smarter Ecommerce. With over 12 years of

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

🚨 Breaking Google Ads News: Dynamic Search Ads (DSA) will be going "the way of the dinosaurs." As confirmed by Google's Ginny Marvin, DSA's time is limited, paving the way for AI Max as the future-proof campaign standard.

Is the Google Ads Search Partner Network draining your Performance Max budget? We looked at 1,500+ campaigns and finally have the data to prove it.

In this episode of Growing Ecommerce, Mike Ryan and Chris Scharmueller dive into data from over 1,500 PMax campaigns throughout 2025 and early 2026. The numbers are in—and they are highly concerning for advertisers relying on the Search Partner Network (SPN).

We break down exactly where your PMax impressions are going, why Google is hesitant to give you an opt-out button, and the massive impact SPN has on your ROAS and CPA.

PLUS: We share exclusive breaking news confirmed by Google's Ginny Marvin: the sun is setting on Dynamic Search Ads (DSA).

If you want to stay ahead of the curve and stop wasting ad spend on low-intent, bot-heavy traffic, this episode is a must-watch!

Key PMax Data Insights Shared in This Episode: Based on a trimmed mean analysis of 1,500+ PMax campaigns with 30+ monthly conversions:

• PMax Impression Share (Excluding Search): YouTube (49%), Google Display (17%), SPN (17%), Maps (11%), Discover (7%), Gmail (0.5%).
• Click-Through Rate (CTR): 40% lower on the Search Partner Network.
• Conversion Rate: 63% lower on SPN.
• Cost Per Acquisition (CPA): 73% higher on SPN.
• Return on Ad Spend (ROAS): 63% lower on SPN compared to parent campaigns.
• Invalid Traffic (IVT): SPN holds the highest share of malicious and fraudulent clicks across networks.

—

About Mike Ryan:

Based in Austria and originally from Boston, Mike Ryan is the Head of Ecommerce Insights at Smarter Ecommerce (smec) with over ten years of experience in retail and PPC landscape. With a robust background spanning retail operations, product management, and digital ads, Mike leverages his multidisciplinary expertise to drive data-informed strategies that help online retailers optimize their performance in an increasingly competitive market.

About Christian Scharmueller:

As a seasoned veteran in the PPC and Ecommerce space, Christian Scharmüller serves as the CCO & Managing Director of Smarter Ecommerce. With over 12 years of experience at the forefront of ad tech, Christian is a sought-after speaker at major industry events, including SMX and OMR, where he shares insights on hig

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/

Is ROAS a flawed metric for Google Ads? According to acclaimed ecommerce experts Mike Ryan and Christian Scharmüller, using Return on Ad Spend (ROAS) as your primary "North Star" metric creates a dangerous "Revenue Trap." Because ROAS measures revenue rather than actual margin, it creates an "air gap" that ignores the law of diminishing returns, ultimately hurting the profitability of mature Google Ads campaigns.

In this episode of Growing eCommerce, the hosts break down how to properly use ROAS as a bidding signal and explore the latest transparency updates to Google’s Performance Max (PMax) campaigns.

The Problem with ROAS as a Profit Proxy: Many advertisers use ROAS as a stand-in for profit. However, as campaigns scale, incremental returns flatten out. A 600% ROAS does not guarantee your next ad dollar will yield the same profit margin.

ROAS is a Communication Vessel, Not Just a Goal: Setting a blanket ROAS target across multiple campaigns is a strategic mistake. ROAS is actually your primary bidding signal and pacing tool to steer Google's algorithms.

Dynamic vs. Static Targeting: Advertisers should move away from adjusting ROAS based on "gut feeling" and adopt a scientific, data-driven approach based on specific campaign constraints.

Resources & Expert Links

• FREE smec Advanced Channel Report Script: https://smarter-ecommerce.com/en/google-ads-scripts/pmax-channel-insights/

About Mike Ryan:

Based in Austria and originally from Boston, Mike Ryan is the Head of Ecommerce Insights at Smarter Ecommerce (smec) with over ten years of experience in retail and PPC landscape. With a robust background spanning retail operations, product management, and digital ads, Mike leverages his multidisciplinary expertise to drive data-informed strategies that help online retailers optimize their performance in an increasingly competitive market.

About Christian Scharmueller:

As a seasoned veteran in the PPC and Ecommerce space, Christian Scharmüller serves as the CCO & Managing Director of Smarter Ecommerce. With over 12 years of experience at the forefront of ad tech, Christian is a sought-after speaker at major industry events, including SMX and OMR, where he shares insights on high-level e-commerce strategy and the future of retail media.

About Smarter Ecommerce (smec):

Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.

The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.

As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.

Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:

smec - Smarter Ecommerce: https://www.smarter-ecommerce.com
LinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbh
Newsletter: https://smarter-ecommerce.com/en/newsletter/
Instagram: https://www.instagram.com/smarterecommerce/