*Store visits are estimates based on aggregated, anonymized data from a sample set of users who have turned on Location History.
Onboarding to both local catalog ads and
local inventory ads is now much easier for retailers of all sizes with the
new local feed partnership program. The new program allows point-of-sale or inventory data providers, like
Cayan,
Pointy,
Linx and
yReceipts, to provide sales and inventory data to Google on behalf of merchants, so they don’t have to create their own local product feeds. As an additional benefit, retailers can showcase their local inventory for free on the “See What’s In Store” feature on the search knowledge panel.
2. Competitive pricing insights to help deliver better sales results
Beyond availability of products in store, we know that price is also a top consideration for consumers. New
price benchmarks in AdWords reporting will be available soon to show Shopping advertisers how other retailers are pricing the same products. You can use these pricing insights to inform your bidding strategy when you have price-competitive products to promote, to influence pricing strategy with your merchandising teams, or to troubleshoot performance drops due to competitors’ pricing.
For example, let’s say you find that you’re selling a sweater for $40 while most retailers are selling the same sweater for $60. You may choose to bid up on this sweater because your product is more price-competitive in the current market and will appeal to more potential customers.
3. Updates for our Shopping Actions program
Consumers continue to be open to
new ways of discovering and buying products. Today at SMX Advanced, we shared an update on Shopping Actions, the
program we launched in March to give consumers an easy way to complete the purchase from retailers, while on Google platforms like Search, the Assistant or by voice.
Since its launch, thousands of retailers have requested to join through our
interest form, and more than
70 retailers are live on the program today. Early testing indicates that participating retailers on average see an increase in total clicks and conversions at a lower overall cost per click and conversion, compared to running Shopping ads alone.
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As always, SMX Advanced is an exciting event that brings leading marketers together. We hope you'll join us in our Learn with Google Classroom to connect and hear more about how these new products can help you grow your business.
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