The price insights report in Merchant Center shows suggested sale prices for your products and predicts the performance that you can expect if you update your products' prices. Using the price insights report can help you price your products more effectively.
With the price insights report, you can:
- Understand the impact of price changes on business goals like profit, sales or total number of clicks to your website
- Improve your return on ad spend (ROAS) and conversions by providing competitive product pricing
- Set better prices for your products
If you're eligible, set up automated discounts in your account so that your products get the recommended pricing provided by the price insights report.
Eligibility and requirements
To make sure that we have enough information to predict suggested prices:
- Provide basket data and upload cost of goods sold (COGS) for your offers
- Or, report back purchase conversions and use the target ROAS bidding strategy.
Even if you meet the above criteria, you may not be able to view the report because:
- You must meet certain minimum requirements for participation in Shopping ads.
- The prices are already competitive according to our models. You won't be able to view the report if we don't expect to see a significant increase in impressions, clicks or conversions by changing your prices.
- You already signed up for the automated discounts programme (which automatically applies the new prices to your website).
Note: After you sign up for automated discounts, the price insights report will no longer appear in your account. Instead, you'll find a new reporting page with the actual automated discount performance.
How it works
The price insights report uses high scale models to run simulations for your offers over the past seven days of traffic. Simulations run at different price points for each offer. The price point that maximises the gross profit for an offer is picked.
The price insights report provides eligible merchants with expected impressions, clicks, conversions and gross profit that they should expect if they implement the suggested pricing. Product demand, competitors' prices, number of sellers for similar products, and manufacturer costs are taken into consideration when suggesting prices. Keep in mind that predictions don't guarantee performance outcomes.
To view the report, open Merchant Center, then select 'Growth' > 'Price Insights'.
Metrics available in the price insights report
- Price: There are three components to the price metric:
- Suggested sale price is the price predicted by Google to maximise the gross profit for your business. It’s based on multiple signals from the last seven days.
- Your price is the current price of your product visible to customers on Google.
- Benchmark is the click-weighted average price for your product across all businesses that show the same product in free listings and Shopping ads.
- Predicted impressions: Predicted increase in impressions after applying the suggested sale price.
- Predicted clicks: Predicted increase in clicks after applying the suggested price.
- Predicted conversions: Predicted increase in conversion after applying the suggested price.
- Predicted gross profit: Predicted increase in gross profit after applying the suggested price. For better predictions of your gross profit, you can start reporting conversions with basket data and uploading COGS for your offers.