Rebuilding Shopping for a €20M equipment retailer
The situation. A 30,000-SKU catalog of professional kitchen equipment, with Performance Max campaigns treating a €4,000 oven and a €3 spare part identically. Margins varied wildly across the catalog, but the bidding strategy couldn't see any of it. Impression share was collapsing on hero products while budget bled into low-value accessories.
What we did. Feed surgery first: custom labels for margin tier, stock depth and price competitiveness, applied via feed rules so they survive every catalog sync. Then we split PMax into asset groups by margin tier with separate ROAS targets, carved brand traffic out into its own campaign to expose true incrementality, and rebuilt titles on the top 2,000 SKUs from actual query data.
What happened. Within one quarter, ad-attributed revenue rose 62% on a budget increase of only 18%. High-margin categories absorbed the extra spend; accessories were demoted to a catch-all group with a strict target. The honest footnote: our first brand-exclusion pass was too aggressive and cost ten days of volume before we recalibrated.