The rate of click fraud for PPC hit 16.2% in the third quarter, up 17.4% from 13.8% a year earlier. 16.25 is the highest level yet for the year. Even worse for advertisers aggressively pursuing an affiliate model, the click fraud rate for affiliate sites was 28.1%, up from 19.4% at year-end 2006, according to the Click Fraud Index.
Combine that with stagnant consumer spending and retailers are facing an interesting Q4.