Google Shopping Price Benchmark Data
Updated: Sep 5, 2020
Google has recently updated the Merchant Center to include price benchmark data, so you can see how your product price stacks up against competitors in the search engine results page (SERP).
In 2019, Google finally released the Price Benchmark data for SKUs in the Google Merchant Center. This data allows retailers to compare the price of their SKU to the benchmark of other competitors displaying ads in Google Shopping results.
Knowing how your product price compares to the competitors displaying ads for the same product next to you is invaluable. Most shoppers are driven by price – if we can get the same product for the cheapest price, we’re likely to click on that ad.
Utilising this data in Google Shopping campaigns can allow retailers to drive sales of products with favourable price versus competitors – driving incremental sales.
This can be easily implemented through the use of custom labels, and supplemental feeds.