Identify your bestsellers to stay competitive

When using PriceShape, your bestseller list should be your best friend and focus point. This is important if you want to stay competitive, especially during large campaign periods such as Black Friday, Christmas, and other big holidays. This blog post will guide you through identifying your bestselling products, why you should focus on them, and how a bestselling list can help you manage your inventory. 

Identify your bestselling products 

To identify your bestselling products, gather data from your system and create a list. This could include total revenue, profit per product, conversion rate, and other key product performance metrics. This data allows you, for instance, to focus on your top 100 revenue-generating products.

You can then add these products to PriceShape and manage them strategically. With this information in PriceShape, you can easily ensure the right pricing for each product, aligning your marketing spend with items with strong conversion rates and profit margins. Additionally, it helps prevent stockouts of your best-performing products.

Identify your bestsellers with Google Merchant Center

Your bestseller list is one thing, but Google also has a general bestseller list for all products sold on Google Shopping. That’s why Google Merchant Center is such a valuable starting point - it helps you identify which of your top-selling products are also featured on Google’s bestseller list in your market. This makes it easy to spot the products that are converting the best, driving marketplace sales, selling the most, and generating the most revenue right now.

How to Identify Your Bestsellers in Google Merchant Center

To find your bestselling products, follow these simple steps:

1. Log in to your Google Merchant Center account and go to the Performance tab. You'll see key metrics like click-through rate (CTR), conversions, and revenue here.
   
2. Download a report from this section to get detailed data on which products generate the most sales, clicks, or engagement.

This report will help you easily identify your top-performing products and guide your future pricing and marketing strategies.

After identifying your top-performing products, the next step is to take action. One way to stay on top of these products is to flag them in PriceShape. By flagging a product, you can track it across the platform and quickly find it when setting pricing strategies or deciding which products to prioritize for Google Shopping ads. The flag will also alert you when stock levels are low, so you know when to reorder and avoid running out of your bestsellers.

Why you should focus on your bestselling products

Whether you or your agency manage your Google Shopping ads, it’s tough to succeed without solid data to guide your decisions. Integrating your supplementary feed from PriceShape into Google Merchant Center can lower your cost per click (CPC). PriceShape uses pricing intelligence to highlight your bestselling products, helping you direct your budget where it will have the most impact.

Google is also a key player here, as they already factor in your bestseller list for their algorithms. They use this data—such as sales volume and click-through rate (CTR)—to automatically optimize your ads, focusing on your top-performing products. This increases the visibility of your bestsellers by showing them more frequently to the most relevant audience.

By strategically repricing your bestselling products and having your campaigns focus on these newly priced items, you can maximize their exposure and keep their momentum going. This also helps ensure your ads are competitive so customers don't turn to competitors. Using PriceShape’s supplementary feed lets you base your ad spend on important factors like profitability and competitiveness.

How can the bestseller list help with inventory management?

Whether you’ve identified your best-selling products through Google’s list or your own data, this information can be a powerful tool for inventory management. Analyzing popular brands and products that Google recognizes as bestsellers helps you make informed decisions on what to stock and what to avoid. The list also provides a "Relative demand" feature where you can monitor high-demand products, giving you a competitive advantage by knowing popular real-time trends. 

Additionally, by tracking your stock levels on these bestsellers, you can ensure that you always have sufficient inventory, avoiding stockouts on high-demand items. Identifying the bestsellers from Google or in your own system not only supports your marketing efforts but also benefits your purchasing department, ensuring your inventory aligns with consumer demand.

Feel free to reach out if you have any questions or need guidance on optimizing your bestseller strategy. You’re also welcome to start a free trial of our pricing tool to experience how PriceShape can help you.