What would you do? Shopify + FB ads not performing.

I'm testing a premium glassware range. Some products are Aliexpress right now, but we're designing our own and working them in too. I can't post the URL but will add in comments if anyone wants to review.

So far, we've spent £73 (US$100) on FB ads with an 'initiate checkout' conversion goal. The campaign has been running over three days. I'm using really broad targeting (UK only), a mix of image + video creative.

CPMs are £12 ($16), CPCs of £0.48 ($0.66) and CTRs of 2.61%. A total of 160 clicks, but no sales, 1 add to cart, and only 1 initiate checkout action.

It feels like these FB results are not terrible, but the problem might be with the product/site. Would you all agree based on these CPMs and CTRs?

And if so, when's the right time to throw in the towel? Or should I change tack, experiment a bit more at lower spend levels? Or focus mainly on the site/CVR? 🙏

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