Last year the EU deemed Google Shopping to be anti-competitive due to its monopoly across their Product Listing Ads (PLAs), which although seperate from Google Shopping, are both owned by Google. The ruling had two clear and immediate impacts:
- Google have opened the PLAs to Comparison Shopping Services (or “CSS”) other than Google Shopping.
- Google Shopping now operates at a profit. This means Google now take a percentage of every bid through Google Shopping. It’s believed that margin is anywhere between 20% and 30% meaning for every £10 you spend through Google Shopping, they’ll be taking £2-3.
Here’s where the opportunity comes in.
Genie Ventures, our parent company, has roots in comparison sites dating back to 2004. Indeed, the technology Genie Ventures developed to be more effective at bidding on our own sites was the whole reason Genie Goals got started 6 years ago. This means our service, Genie Shopping Network, is a long established CSS and we can now bid on the PLAs.
The difference is Genie Shopping is not required to take a margin as Google Shopping is. We can instead charge a small percentage override on media spend at a vastly reduced rate compared to Google Shopping – buying you the views that you pay for.
Further, Google is providing a significant incentive to encourage advertisers to run their PLAs through a different CSS by offering a rebate of up to €32,000 per month. It’s thought this rebate in particular is very time sensitive (best guesses put it at no more than 6 months but even that isn’t guaranteed), meaning we’re working fast to get the world’s greatest retail brands signed up so they can take advantage of the rebate.
“We have performance and testing at heart. Through tech and team talent, we’re able to set up this correctly and ensure that results are positive. Retailers have the potential to buy traffic at 20% less and get a 30% rebate on their spend. That’s a crazy opportunity for retailers and we’re here to facilitate that.”
Luca Senatore, Agency Director
Swapping from bidding on PLAs from Google Shopping to Genie Shopping is really easy and should take no more than a few days to get you set up.
We’re onboarding our first clients to the CSS scheme who will be taking advantage of the rebate, and we’d like you to be one of them.
If you’d like to find out more about the Comparison Shopping Partner scheme, or are ready to move your Shopping activity across to Genie Shopping, contact us today.