Do Not Compare Video Shopping Ads ROAS with GMV Max ROI — The Most Common Measurement Error

Many shops panic when they see GMV Max ROI “lower” than their old ad ROAS, but that is because these two metrics measure different things. The correct way: compare ROI with ROI, ROAS with ROAS — do not mix them.

Why They Cannot Be Directly Compared

Method	VSA/PSA/LSA	Product GMV Max
GMV attribution	7-day click & 1-day view, Shop ID level	1-day click & real-time, Product ID level
Metric	ROAS (TTAM) = Ads GMV / Ads Cost	ROI (Seller Center) = Total non-LIVE GMV / Ads Cost

Full Data Example (Same Day, 1 May)

PSA/VSA: Cost $100. Attributed GMV $300 including: $160 Ads GMV of the promoted product generated on 1 May, $40 Ads GMV of the promoted product generated on 2-7 May, $100 Ads GMV of other products, $50 Organic GMV (not attributed to VSA/PSA due to no ad interaction).
→ ROAS = (160+40+100)/100 = 3. If ROI is calculated correctly (only counting the promoted product’s GMV generated on the day, including organic) = (160+50)/100 = 2.1.

Product GMV Max: Cost $150. Attributed GMV $450, all of which is Total Non-live GMV of the promoted product generated on 1 May (excluding $120 Ads GMV of other products as they do not belong to this campaign).
→ ROI = 450/150 = 3.

Conclusion from the original document: you should use the total non-LIVE GMV on Seller Center to calculate the ROI of VSA/PSA and then compare it with GMV Max ROI — because ROI is always a marketing cost ratio, making it comparable even when running for different products.

How to Correctly Evaluate Incremental GMV

Compare total non-LIVE GMV before and after deploying GMV Max to determine the actual incremental GMV, instead of comparing the Gross Revenue of the two systems. Note: Organic GMV fluctuates seasonally, so do not evaluate effectiveness immediately after a mega sale period — it is easy to misinterpret it as poor ad performance when it is just organic GMV decreasing seasonally.

Frequently Asked Questions

If I don’t see incremental GMV after turning on GMV Max, what should I check first?
Two common causes: the target ROI is set higher than recommended, or the budget is too low — both restrict delivery and shrink non-LIVE GMV.

Can I run VSA/PSA and GMV Max at the same time for different products and compare them?
Yes, because ROI is a ratio; a higher ROI always means higher effectiveness even with different products.

Source

Official GMV Max guide (updated to July 2026).