{
  "name": "Footwear Advertising Benchmarks 2026",
  "publisher": "Scaletrics",
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "edition": "2026",
  "temporalCoverage": "2024-01-01/2026-06-30",
  "spatialCoverage": "United States (European figures kept in EUR and labelled)",
  "model": {
    "formula": "CM% = m(1−r) − (1−m)·r·(1−k) − p − (f + r·f_r)/A",
    "symbols": [
      {
        "sym": "m",
        "meaning": "SKU-level gross margin from a style's fully landed cost, including duty"
      },
      {
        "sym": "r",
        "meaning": "Return rate on gross orders"
      },
      {
        "sym": "k",
        "meaning": "Share of a returned unit's cost value recovered by full-price resale"
      },
      {
        "sym": "p",
        "meaning": "Payment processing as a fraction of order value"
      },
      {
        "sym": "f",
        "meaning": "Outbound fulfilment, dollars per order"
      },
      {
        "sym": "f_r",
        "meaning": "Reverse logistics cash cost, dollars per return"
      },
      {
        "sym": "A",
        "meaning": "Average order value"
      }
    ]
  },
  "provenanceTiers": {
    "reported": "Published verbatim by a named third party, with period, sample and denominator.",
    "modelled": "The publisher's own estimate rather than a measurement, labelled as theirs.",
    "derived": "Scaletrics arithmetic on reported and assumed inputs. Formula included.",
    "assumed": "A modelling input with no available source, named as such."
  },
  "rows": [
    {
      "table": "archetypes",
      "metric": "average_order_value",
      "segment": "Value sneaker",
      "value": "65",
      "unit": "USD",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "sku_gross_margin",
      "segment": "Value sneaker",
      "value": "48",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "return_rate",
      "segment": "Value sneaker",
      "value": "22",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "resale_recovery",
      "segment": "Value sneaker",
      "value": "0.85",
      "unit": "ratio",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "outbound_fulfilment",
      "segment": "Value sneaker",
      "value": "8",
      "unit": "USD/order",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "reverse_logistics",
      "segment": "Value sneaker",
      "value": "11",
      "unit": "USD/return",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "payment_rate",
      "segment": "Value sneaker",
      "value": "2.9",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "payment_fixed",
      "segment": "Value sneaker",
      "value": "0.3",
      "unit": "USD/order",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "nonbrand_paid_cvr",
      "segment": "Value sneaker",
      "value": "2",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "average_order_value",
      "segment": "Mid-market",
      "value": "140",
      "unit": "USD",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "sku_gross_margin",
      "segment": "Mid-market",
      "value": "55",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "return_rate",
      "segment": "Mid-market",
      "value": "25",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "resale_recovery",
      "segment": "Mid-market",
      "value": "0.85",
      "unit": "ratio",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "outbound_fulfilment",
      "segment": "Mid-market",
      "value": "9",
      "unit": "USD/order",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "reverse_logistics",
      "segment": "Mid-market",
      "value": "12",
      "unit": "USD/return",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "payment_rate",
      "segment": "Mid-market",
      "value": "2.9",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "payment_fixed",
      "segment": "Mid-market",
      "value": "0.3",
      "unit": "USD/order",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "nonbrand_paid_cvr",
      "segment": "Mid-market",
      "value": "1.8",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "average_order_value",
      "segment": "Premium boot",
      "value": "320",
      "unit": "USD",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "sku_gross_margin",
      "segment": "Premium boot",
      "value": "62",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "return_rate",
      "segment": "Premium boot",
      "value": "28",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "resale_recovery",
      "segment": "Premium boot",
      "value": "0.8",
      "unit": "ratio",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "outbound_fulfilment",
      "segment": "Premium boot",
      "value": "12",
      "unit": "USD/order",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "reverse_logistics",
      "segment": "Premium boot",
      "value": "16",
      "unit": "USD/return",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "payment_rate",
      "segment": "Premium boot",
      "value": "2.9",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "payment_fixed",
      "segment": "Premium boot",
      "value": "0.3",
      "unit": "USD/order",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "archetypes",
      "metric": "nonbrand_paid_cvr",
      "segment": "Premium boot",
      "value": "2.2",
      "unit": "percent",
      "tier": "assumed",
      "source_id": "",
      "period": "2026",
      "notes": "Illustrative construction, not a measured brand"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_2.0×",
      "value": "$0.56",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "−44%"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_3.0×",
      "value": "$0.84",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "−16%"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_3.59×",
      "value": "$1.00",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "exact break-even"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_4.0×",
      "value": "$1.12",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "+12%"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_5.0×",
      "value": "$1.39",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "+39%"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_6.0×",
      "value": "$1.67",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "+67%"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_8.0×",
      "value": "$2.23",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "+123%"
    },
    {
      "table": "contribution_roas",
      "metric": "contribution_per_dollar_spent",
      "segment": "reported_roas_10.0×",
      "value": "$2.79",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "+179%"
    },
    {
      "table": "return_sensitivity",
      "metric": "break_even_reported_roas",
      "segment": "return_rate_30%",
      "value": "4.10×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 24.36%, $34.11/order"
    },
    {
      "table": "return_sensitivity",
      "metric": "break_even_reported_roas",
      "segment": "return_rate_25%",
      "value": "3.59×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 27.88%, $39.03/order"
    },
    {
      "table": "return_sensitivity",
      "metric": "break_even_reported_roas",
      "segment": "return_rate_22%",
      "value": "3.33×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 29.99%, $41.98/order"
    },
    {
      "table": "return_sensitivity",
      "metric": "break_even_reported_roas",
      "segment": "return_rate_20%",
      "value": "3.19×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 31.39%, $43.95/order"
    },
    {
      "table": "return_sensitivity",
      "metric": "break_even_reported_roas",
      "segment": "return_rate_18%",
      "value": "3.05×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 32.80%, $45.92/order"
    },
    {
      "table": "return_sensitivity",
      "metric": "break_even_reported_roas",
      "segment": "return_rate_15%",
      "value": "2.86×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 34.91%, $48.87/order"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_0%",
      "value": "3.59×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $140, margin 55.0%, contribution 27.88%"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_10%",
      "value": "4.35×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $126, margin 50.0%, contribution 22.96%"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_15%",
      "value": "4.98×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $119, margin 47.1%, contribution 20.07%"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_20%",
      "value": "5.94×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $112, margin 43.8%, contribution 16.82%"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_25%",
      "value": "7.61×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $105, margin 40.0%, contribution 13.14%"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_30%",
      "value": "11.21×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $98, margin 35.7%, contribution 8.92%"
    },
    {
      "table": "discount_depth",
      "metric": "break_even_reported_roas",
      "segment": "discount_40%",
      "value": "none exists",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "AOV $84, margin 25.0%, contribution −1.61%"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$55",
      "value": "$0.24",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 6.99×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$65",
      "value": "$0.35",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 5.64×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$85",
      "value": "$0.57",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 4.51×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$110",
      "value": "$0.84",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 3.92×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$140",
      "value": "$1.17",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 3.59×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$180",
      "value": "$1.61",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 3.35×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$240",
      "value": "$2.27",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 3.17×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$320",
      "value": "$3.15",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 3.05×"
    },
    {
      "table": "aov_curve",
      "metric": "max_affordable_cpc",
      "segment": "aov_$450",
      "value": "$4.58",
      "unit": "USD",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "margin held 55%, returns held 25%, CVR 3.0%; break-even 2.95×"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_45%_returns_10%",
      "value": "3.42×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 29.28%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_45%_returns_20%",
      "value": "4.33×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 23.09%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_45%_returns_25%",
      "value": "5.00×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 20.00%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_45%_returns_30%",
      "value": "5.91×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 16.91%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_45%_returns_40%",
      "value": "9.32×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 10.73%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_50%_returns_10%",
      "value": "2.95×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 33.85%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_50%_returns_20%",
      "value": "3.67×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 27.24%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_50%_returns_25%",
      "value": "4.18×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 23.94%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_50%_returns_30%",
      "value": "4.85×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 20.64%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_50%_returns_40%",
      "value": "7.13×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 14.03%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_55%_returns_10%",
      "value": "2.60×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 38.43%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_55%_returns_20%",
      "value": "3.19×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 31.39%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_55%_returns_25%",
      "value": "3.59×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 27.88%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_55%_returns_30%",
      "value": "4.10×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 24.36%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_55%_returns_40%",
      "value": "5.77×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 17.33%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_60%_returns_10%",
      "value": "2.33×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 43.00%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_60%_returns_20%",
      "value": "2.81×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 35.54%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_60%_returns_25%",
      "value": "3.14×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 31.81%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_60%_returns_30%",
      "value": "3.56×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 28.09%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_60%_returns_40%",
      "value": "4.85×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 20.63%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_65%_returns_10%",
      "value": "2.10×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 47.58%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_65%_returns_20%",
      "value": "2.52×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 39.69%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_65%_returns_25%",
      "value": "2.80×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 35.75%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_65%_returns_30%",
      "value": "3.14×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 31.81%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_65%_returns_40%",
      "value": "4.18×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 23.93%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_70%_returns_10%",
      "value": "1.92×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 52.15%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_70%_returns_20%",
      "value": "2.28×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 43.84%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_70%_returns_25%",
      "value": "2.52×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 39.69%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_70%_returns_30%",
      "value": "2.81×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 35.54%"
    },
    {
      "table": "break_even_grid",
      "metric": "break_even_reported_roas",
      "segment": "margin_70%_returns_40%",
      "value": "3.67×",
      "unit": "multiple",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "contribution 27.23%"
    },
    {
      "table": "spread_index",
      "metric": "benchmark_spread_index",
      "segment": "Footwear sitewide conversion rate",
      "value": "3.60×",
      "unit": "ratio",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "high 3.6% (ECDB), low 1.0% (True Fit). Denominator (sessions vs users), traffic mix, brand-size skew, modelled vs measured"
    },
    {
      "table": "spread_index",
      "metric": "benchmark_spread_index",
      "segment": "E-commerce customer acquisition cost",
      "value": "2.94×",
      "unit": "ratio",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "high $156, low $53. Blended CAC across all orders vs new-customer CAC on first orders only"
    },
    {
      "table": "spread_index",
      "metric": "benchmark_spread_index",
      "segment": "TikTok CPM",
      "value": "2.76×",
      "unit": "ratio",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "high $13.26, low $4.80. Campaign-objective mix and panel composition"
    },
    {
      "table": "spread_index",
      "metric": "benchmark_spread_index",
      "segment": "Meta CPM",
      "value": "2.15×",
      "unit": "ratio",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "high $14.19 (Triple Whale), low $6.59 (Gupta Media). Conversion-campaign-weighted panel vs reach-weighted tracker. These do not average to a meaningful $10.39"
    },
    {
      "table": "spread_index",
      "metric": "benchmark_spread_index",
      "segment": "Footwear online return rate",
      "value": "1.76×",
      "unit": "ratio",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "high 30% (multi-brand), low 17%. Single-brand DTC vs multi-brand assortment; different return-window definitions"
    },
    {
      "table": "spread_index",
      "metric": "benchmark_spread_index",
      "segment": "PMax share of Shopping spend",
      "value": "1.30×",
      "unit": "ratio",
      "tier": "derived",
      "source_id": "",
      "period": "2026",
      "notes": "high 69% (Q4 2024), low 53% (Q1 2025). Almost certainly a change in which advertisers sit in the denominator — the same series reads 69 → 53 → 68 → 62% across four quarters"
    }
  ],
  "sources": [
    {
      "id": "S1",
      "publisher": "Nike, Inc.",
      "title": "FY2025 Form 10-K — revenue $46.3B (−10%), demand creation expense $4.7B (+9%, 10.2% of revenue), gross margin 42.7%, operating overhead 24.6%",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000320187&type=10-K",
      "published": "Jul 2025",
      "accessed": "Aug 2026",
      "reliability": "high",
      "note": "Audited filing"
    },
    {
      "id": "S2",
      "publisher": "On Holding AG",
      "title": "FY2025 filings — gross margin 62.8%, marketing 12.0% of net sales",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001858985&type=20-F",
      "published": "2025",
      "accessed": "Aug 2026",
      "reliability": "high"
    },
    {
      "id": "S3",
      "publisher": "Deckers Brands",
      "title": "FY2025 Form 10-K — net sales $4.986B, gross margin 57.9%, SG&A $1.707B",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000910521&type=10-K",
      "published": "May 2025",
      "accessed": "Aug 2026",
      "reliability": "high",
      "note": "SG&A is not the advertising line — that sits in the filing notes"
    },
    {
      "id": "S4",
      "publisher": "Crocs, Inc.",
      "title": "FY2025 results — gross margin 58.3%",
      "url": "https://investors.crocs.com/",
      "published": "2025",
      "accessed": "Aug 2026",
      "reliability": "high"
    },
    {
      "id": "S5",
      "publisher": "Allbirds, Inc.",
      "title": "Q3 2025 results — gross margin 43.2%, marketing 35.5% of net revenue, revenue −21.7%, going-concern language",
      "url": "https://ir.allbirds.com/",
      "published": "Nov 2025",
      "accessed": "Aug 2026",
      "reliability": "high",
      "note": "The back-test case"
    },
    {
      "id": "S6",
      "publisher": "National Retail Federation with Happy Returns",
      "title": "2025 Consumer Returns in the Retail Industry — online returns 19.3% of online sales; total US returns $849.9B (15.8% of sales)",
      "url": "https://nrf.com/research/2025-consumer-returns-retail-industry",
      "published": "2025",
      "accessed": "Aug 2026",
      "sample": "US, all categories",
      "reliability": "high"
    },
    {
      "id": "S7",
      "publisher": "Baymard Institute",
      "title": "Cart abandonment rate 70.19%; checkout UX improvements worth up to 35.26% conversion lift",
      "url": "https://baymard.com/lists/cart-abandonment-rate",
      "published": "2025",
      "accessed": "Aug 2026",
      "sample": "Meta-analysis of 48–49 studies",
      "reliability": "high"
    },
    {
      "id": "S8",
      "publisher": "Shopify",
      "title": "Published card processing rates — 2.9% + $0.30",
      "url": "https://www.shopify.com/blog/credit-card-processing-fees",
      "published": "2026",
      "accessed": "Aug 2026",
      "reliability": "high"
    },
    {
      "id": "S9",
      "publisher": "Google Ads Help",
      "title": "Conversion adjustments — how retractions and restatements are applied",
      "url": "https://support.google.com/google-ads/answer/10518330",
      "published": "current",
      "accessed": "Aug 2026",
      "reliability": "high",
      "note": "The mechanism behind Leak 1"
    },
    {
      "id": "S10",
      "publisher": "US Census Bureau via FRED",
      "title": "Retail sales, clothing & accessories stores (MRTSSM448USS) and shoe stores (NAICS 4482) — December runs roughly 2× January, with a March–July trough",
      "url": "https://fred.stlouisfed.org/series/MRTSSM448USS",
      "published": "monthly",
      "accessed": "Aug 2026",
      "sample": "Official monthly series",
      "reliability": "high"
    },
    {
      "id": "S11",
      "publisher": "Gartner",
      "title": "2025 CMO Spend Survey — marketing 7.7% of company revenue, retail 7.1%, paid media 30.6% of marketing budget",
      "url": "https://www.gartner.com/en/marketing/topics/cmo-spend-survey",
      "published": "2025",
      "accessed": "Aug 2026",
      "sample": "n=402, fielded Feb–Mar 2025",
      "reliability": "high",
      "note": "Skews heavily to $1bn+ organisations"
    },
    {
      "id": "S12",
      "publisher": "Contentsquare",
      "title": "2026 Digital Experience Benchmark — retail traffic −2.6%, conversions −5.5% YoY",
      "url": "https://contentsquare.com/guides/digital-experience-benchmark/",
      "published": "2026",
      "accessed": "Aug 2026",
      "sample": "99bn sessions, 6,500+ sites",
      "reliability": "high"
    },
    {
      "id": "S13",
      "publisher": "ECDB",
      "title": "US footwear e-commerce — AOV $145, conversion 3.6%, add-to-cart 15.0%, cart abandonment 75.8%, discount rate 9.5%, return rate 19.9%",
      "url": "https://ecommercedb.com/",
      "published": "2024",
      "accessed": "Aug 2026",
      "reliability": "medium",
      "note": "Modelled from tracked store revenue, not a merchant panel — labelled MODELLED throughout"
    },
    {
      "id": "S14",
      "publisher": "Dynamic Yield (Mastercard)",
      "title": "Fashion, accessories & apparel conversion 2.81%; Nov–Dec 3.3% vs Jan–Feb 2.4–2.6%",
      "url": "https://marketing.dynamicyield.com/benchmarks/",
      "published": "2025",
      "accessed": "Aug 2026",
      "sample": "400+ brands, 300M+ sessions",
      "reliability": "medium"
    },
    {
      "id": "S15",
      "publisher": "Triple Whale",
      "title": "Meta Apparel & Accessories CPM $10.93 / CPA $36.76; all-industry CPM $14.19; TikTok apparel ROAS 2.49× vs 2.21% all-industry",
      "url": "https://www.triplewhale.com/benchmarks",
      "published": "2025",
      "accessed": "Aug 2026",
      "sample": "~18,000 brands, calendar 2025",
      "reliability": "medium"
    },
    {
      "id": "S16",
      "publisher": "Gupta Media",
      "title": "Meta CPM tracker — $6.59 (Oct 2025); Cyber Monday $17.70, 138% above the $7.43 annualised average; Q4 inflation up to 66%",
      "url": "https://www.guptamedia.com/facebook-ad-cpm",
      "published": "2025–26",
      "accessed": "Aug 2026",
      "reliability": "medium",
      "note": "Reach/awareness-weighted — this is why it disagrees with Triple Whale"
    },
    {
      "id": "S17",
      "publisher": "Smarter Ecommerce (smec)",
      "title": "Market Observer — Search €0.42, Performance Max €0.41, Shopping €0.36 (Europe, EUR); State of PMax — median target ROAS ~4.7× → ~6.0×, 84% hit or exceed target",
      "url": "https://www.smarter-ecommerce.com/",
      "published": "2025–26",
      "accessed": "Aug 2026",
      "sample": "€450M+ retail spend; 4,000+ PMax campaigns",
      "reliability": "medium",
      "note": "Published in euros. Never converted here — see rule A1"
    },
    {
      "id": "S18",
      "publisher": "Tinuiti",
      "title": "Q4 2025 Digital Ads Benchmark — Performance Max 62% of retailer Shopping spend; Search spend +13%",
      "url": "https://tinuiti.com/resources/benchmarks/",
      "published": "Q4 2025",
      "accessed": "Aug 2026",
      "reliability": "medium",
      "note": "Search growth is attributed in part to Amazon's absence from the auctions"
    },
    {
      "id": "S19",
      "publisher": "WordStream by LocaliQ",
      "title": "2026 Search Advertising Benchmarks — 'Apparel, Fashion & Jewelry' cost per lead $101.49 (+23.36% YoY)",
      "url": "https://www.wordstream.com/blog/search-advertising-benchmarks",
      "published": "2026",
      "accessed": "Aug 2026",
      "sample": "13,000+ campaigns, 23 industries, Apr 2025–Mar 2026",
      "reliability": "medium",
      "note": "A cost per LEAD from a bucket containing local retailers and jewellers. Not a footwear CPA"
    },
    {
      "id": "S20",
      "publisher": "Centra",
      "title": "Footwear median conversion rate 2.2% (accessories 7.4%, women's fashion 3.6%)",
      "url": "https://centra.com/",
      "published": "2025–26",
      "accessed": "Aug 2026",
      "sample": "Merchant network",
      "reliability": "medium"
    },
    {
      "id": "S21",
      "publisher": "True Fit",
      "title": "Fashion, footwear & accessories conversion 1.0–1.5% typical, top decile ~4.7%",
      "url": "https://www.truefit.com/",
      "published": "2026",
      "accessed": "Aug 2026",
      "sample": "500-brand fashion benchmark",
      "reliability": "medium"
    },
    {
      "id": "S22",
      "publisher": "Zigzag Global / parcelLab",
      "title": "Bracketing — 62% of surveyed UK fashion shoppers; 40% of bracketers buy multiple sizes of the same item; 69% of Gen Z over-ordered in 2024",
      "url": "https://www.zigzag.global/",
      "published": "2024–25",
      "accessed": "Aug 2026",
      "sample": "n=1,002 UK fashion shoppers",
      "reliability": "medium"
    },
    {
      "id": "S23",
      "publisher": "Salesforce",
      "title": "Shopping Index — apparel Cyber Week discount depth 37%, the deepest of any category",
      "url": "https://www.salesforce.com/commerce/shopping-index/",
      "published": "2025–26",
      "accessed": "Aug 2026",
      "reliability": "medium"
    },
    {
      "id": "S24",
      "publisher": "Adobe Analytics",
      "title": "Holiday 2025 — $257.8B online (+6.8%), mobile 56.4% of transactions",
      "url": "https://business.adobe.com/resources/digital-economy-index.html",
      "published": "Jan 2026",
      "accessed": "Aug 2026",
      "reliability": "high"
    }
  ]
}