Quick Answer

IDEA — awaiting write. Anchor: When Consent Mode V2 defaults to denied and no CMP sends a consent signal, GA4 reports modelled estimates — not real conversions. Google sends cookieless pings for measurement modelling, and Smart Bidding optimises against those modelled numbers rather than actual purchase events. For most WooCommerce stores generating fewer than 1,000 daily EU sessions with consent denied, behavioural modelling does not even qualify — meaning conversions remain permanently understated and bid algorithms train on an incomplete picture.