[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"cms-page:\u002Fblog\u002Fprice-elasticity-of-demand-in-google-shopping":3},{"date":4,"date_gmt":4,"content":5,"sticky":7,"format":8,"categories":9,"collections":11,"coauthors":12,"class_list":14,"acf":23,"head_links":330,"breadcrumbs":331,"reading_minutes":103,"category":339,"head":341},"2019-03-27T09:13:52",{"rendered":6},"\n\u003Cp>Google Shopping is a complex and ever-changing platform that consists of thousands of algorithms to give the user the best possible experience when searching for a product online. Strip all that back and you get a product comparison tool with one standout factor, price.\u003C\u002Fp>\n\n\n\n\u003Cp>Being the cheapest on Google Shopping obviously has its advantages but in this blog, we will cover price changes and how these changes impact demand. This is known as price elasticity of demand and is a pretty useful concept to know about when analysing price changes.\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Cstrong>What is price elasticity of demand?\u003C\u002Fstrong> It’s a microeconomics concept that demonstrates the change in demand for a good or service when the price changes.\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Cstrong>Well surely if the price of a product increases then the demand will decrease?\u003C\u002Fstrong> This is correct, but the question is how much will demand decrease if prices change by X.\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"the-4-levels-of-price-elasticity-of-demand\">The 4 levels of price elasticity of demand:\u003C\u002Fh2>\n\n\n\n\u003Ch3 class=\"wp-block-heading\" id=\"perfectly-inelastic-demand\">\u003Cb>Perfectly Inelastic Demand\u003C\u002Fb>\u003C\u002Fh3>\n\n\n\n\u003Cp>Perfectly inelastic demand occurs when prices of a good change but demand doesn’t change.\u003C\u002Fp>\n\n\n\n\u003Cp>Think about goods and services we can’t live without e.g. healthcare or water supplier. If the price of these goods or services increase then chances are there aren’t any alternatives in the market so we just have to accept the price changes.\u003C\u002Fp>\n\n\n\n\u003Ch3 class=\"wp-block-heading\" id=\"inelastic-demand\">\u003Cb>Inelastic Demand\u003C\u002Fb>\u003C\u002Fh3>\n\n\n\n\u003Cp>Inelastic demand occurs when the demand change is smaller than the change in price. These are goods with few alternatives in the market such as – mobile phone providers, electricity supplier and \u003Ca rel=\"noreferrer noopener\" href=\"\u002Fpaid-media\u002Fppc\u002F\">award-winning PPC teams.\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Cp>The inelastic demand curve below shows that a 40% increase in price only leads to a 10% decrease in demand.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"570\" height=\"563\" src=\"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F12\u002Finelastic-demand-1.jpeg?auto=compress%2Cformat&q=90\" alt=\"Inelastic demand graph. Change in price leads to a smaller percentage in demand\" class=\"wp-image-13401\"\u002F>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Ch3 class=\"wp-block-heading\" id=\"price-unit-elasticity\">\u003Cb>Price Unit Elasticity\u003C\u002Fb>\u003C\u002Fh3>\n\n\n\n\u003Cp>Unit elasticity is a neat bit of economic theory yet rarely happens in practice. This scenario is where price and demand change at the exact same rate.\u003C\u002Fp>\n\n\n\n\u003Ch3 class=\"wp-block-heading\" id=\"elastic-demand\">\u003Cb>Elastic Demand\u003C\u002Fb>\u003C\u002Fh3>\n\n\n\n\u003Cp>This is the last one, I promise! Elastic demand is simply a scenario when the change in demand is greater than the change in price. These tend to be goods with lots of substitutes in the market.\u003C\u002Fp>\n\n\n\n\u003Cp>In the elastic demand curve below, the price has increased by 20% which has caused a large drop of 50% in demand.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"595\" height=\"512\" src=\"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F12\u002Felastic-demand-1.png?auto=compress%2Cformat&q=90\" alt=\"Elastic demand graph. Change in price leads to bigger percentage change in demand.\" class=\"wp-image-13402\"\u002F>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"\"> \u003C\u002Fh2>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"how-to-calculate-price-elasticity-of-demand\">How to calculate price elasticity of demand?\u003C\u002Fh2>\n\n\n\n\u003Cp>With one simple formula:\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter\">\u003Cimg decoding=\"async\" src=\"https:\u002F\u002Fimages.impression.co.uk\u002F2022\u002F01\u002Famazon-shopping-page-example.png?auto=compress%2Cformat&q=90\" alt=\"\" class=\"wp-image-13809\"\u002F>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cul class=\"wp-block-list\">\u003Cli>Q1 – Original quantity demanded\u003C\u002Fli>\u003Cli>Q2 – New quantity demanded\u003C\u002Fli>\u003Cli>P1 – Original price\u003C\u002Fli>\u003Cli>P2 – New price\u003C\u002Fli>\u003C\u002Ful>\n\n\n\n\u003Ch4 class=\"wp-block-heading\" id=\"ive-calculated-my-ped-what-do-my-results-show\">I’ve calculated my PED, what do my results show?\u003C\u002Fh4>\n\n\n\n\u003Cul class=\"wp-block-list\">\u003Cli>\u003Cstrong>If PED = 0\u003C\u002Fstrong> – This means that when the price changes demand does not, \u003Cstrong>demand is perfectly inelastic.\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>\u003Cstrong>If PED is between 0 and 1\u003C\u002Fstrong> – If the % change in demand from is smaller than the percentage change in price, then \u003Cstrong>demand is inelastic.\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>\u003Cstrong>If PED = 1\u003C\u002Fstrong> – If the % change in demand is exactly the same as the % change in price, then \u003Cstrong>demand is unit elastic.\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>\u003Cstrong>If PED > 1\u003C\u002Fstrong>, then demand responds more than proportionately to a change in price, therefore, \u003Cstrong>demand is elastic.\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Ful>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"putting-theory-into-practice\">Putting theory into practice\u003C\u002Fh2>\n\n\n\n\u003Cp>Let’s use some real-life examples to demonstrate the theories above and how they can be used in business decision making.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter\">\u003Cimg decoding=\"async\" src=\"https:\u002F\u002Fcdn.impression.co.uk\u002F2021\u002F05\u002Ffreddo.jpg\" alt=\"\" class=\"wp-image-13810\"\u002F>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>One of the biggest controversies of the last 20 years is the 200% price hike of the Freddo. In 2000 the chocolate bar was priced at a mere 10p however Freddo lovers are now forced to pay an inflated 30p.\u003Cbr>\u003C\u002Fp>\n\n\n\n\u003Cp>Unfortunately, I don’t have any information on the number of Freddos sold before and after the price changes. I will, however, use two different scenarios to demonstrate the differences in price elasticities of demand.\u003C\u002Fp>\n\n\n\n\u003Ch4 class=\"wp-block-heading\" id=\"scenario-1\">Scenario  1\u003C\u002Fh4>\n\n\n\n\u003Cp>In 2016 the price of Freddos rose from 25p to 30p and as a result, the number of Freddos sold per week in the UK fell from 800,000 to 720,000.\u003C\u002Fp>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"478\" height=\"106\" src=\"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F12\u002Fscenario-1.png?auto=compress%2Cformat&q=90\" alt=\"Scenario 1 change in price, change in demand, and price elasticity of demand formulas.\" class=\"wp-image-13403\"\u002F>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>A PED of 0.5 indicates that Freddos are price inelastic, people kept buying the loveable chocolate frog despite the price increase. It’s good news for Cadbury’s, they’ve managed to increase prices by 20% but only lost 10% in demand.\u003C\u002Fp>\n\n\n\n\u003Ch4 class=\"wp-block-heading\" id=\"scenario-2\">Scenario 2\u003C\u002Fh4>\n\n\n\n\u003Cdiv class=\"wp-block-image\">\u003Cfigure class=\"aligncenter size-full\">\u003Cimg loading=\"lazy\" decoding=\"async\" width=\"471\" height=\"102\" src=\"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F12\u002Fscenario-2.png?auto=compress%2Cformat&q=90\" alt=\"Scenario 2 change in price, change in demand, and price elasticity of demand formulas\" class=\"wp-image-13404\"\u002F>\u003C\u002Ffigure>\u003C\u002Fdiv>\n\n\n\n\u003Cp>In 2016 the price of Freddos rose from 25p to 30p and as a result, the number of Freddos sold per week in the UK fell from 800,000 to 50,000.\u003Cbr>\u003C\u002Fp>\n\n\n\n\u003Cp>A PED of 3.75 indicates that Freddos are now price elastic, people now have stopped buying Freddos due to the price changes. Not great news for Cadbury’s as people have clearly found substitute chocolates to buy!\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"how-does-this-tie-into-google-shopping\">How does this tie into Google Shopping?\u003C\u002Fh2>\n\n\n\n\u003Cp>As a business owner, it’s important to know your product range and have a sense of the elasticities of demand. This way when you make price changes you shouldn’t be startled with the change in demand.\u003C\u002Fp>\n\n\n\n\u003Ch3 class=\"wp-block-heading\" id=\"profitable-tips\">Profitable tips\u003C\u002Fh3>\n\n\n\n\u003Cp>Price elastic products often occur when multiple retailers are selling identical products on Google Shopping. Meaning if you increase prices you’re likely to see a big drop off in sales. However, you can use this to your advantage, if you can decrease your prices to undercut your competition chances are the loss from the price decrease will be offset by a large increase in sales.\u003C\u002Fp>\n\n\n\n\u003Cp>Bespoke products or products with few substitute products are likely to have inelastic demand. Unfortunately, unlike elastic products decreasing prices won’t lead to a huge jump in demand. To increase revenue, consider raising prices slightly and you shouldn’t notice much of a decrease in demand.\u003C\u002Fp>\n\n\n\n\u003Ch3 class=\"wp-block-heading\" id=\"get-to-know-your-products\">Get to know your products\u003C\u002Fh3>\n\n\n\n\u003Cp>As simple as it sounds, having an idea about which products are sensitive to price will help you improve results through Google Shopping.\u003C\u002Fp>\n\n\n\n\u003Cp>Making minor changes to the price and gathering performance data through Google Ads will help categorise products. Once you know this you will be well on your way to making data-driven pricing decisions to grow your business in a profitable way.\u003C\u002Fp>\n",false,"standard",[10],40,[],[13],135,[15,16,17,18,19,20,21,22],"post-4316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ppc",{"page_content_modules":24,"hero":138},[25,91],{"acf_fc_layout":26,"reduced":27,"top_overlap":-1,"bottom_underlap":-1,"disable_observer":27,"title":28,"content":6,"authors":29},"blog_post_content",true,"Price Elasticity Of Demand In Google Shopping",[30],{"id":31,"path":32,"display_name":33,"job_title":34,"description":35,"avatar_url":36,"acf":37},33,"\u002Fabout\u002Four-team\u002Fimpression-team\u002F","Team Impression","","This post may have been written by a past member of the Impression team, or be a collaboration of us all. We hope you like it!","https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress&fit=crop&fm=jpg&h=150&q=80&w=150&bg=CFE6F9",{"job_title":34,"full_bio":34,"specialist_service_links":7,"photo":38},{"ID":39,"id":39,"title":40,"filename":41,"filesize":42,"url":43,"link":44,"alt":34,"author":45,"description":34,"caption":34,"name":46,"status":47,"uploaded_to":42,"date":48,"modified":48,"menu_order":42,"mime_type":49,"type":50,"subtype":51,"icon":52,"width":53,"height":53,"sizes":54},12476,"Impression-Icon","Impression-Icon.jpg",0,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&q=90","\u002Fimpression-icon\u002F","12","impression-icon","inherit","2021-11-02 16:49:21","image\u002Fjpeg","image","jpeg","\u002Fwp\u002Fwp-includes\u002Fimages\u002Fmedia\u002Fdefault.png",500,{"thumbnail":55,"thumbnail-width":56,"thumbnail-height":56,"medium":57,"medium-width":58,"medium-height":58,"medium_large":59,"medium_large-width":60,"medium_large-height":60,"large":61,"large-width":62,"large-height":63,"1536x1536":64,"1536x1536-width":65,"1536x1536-height":65,"2048x2048":66,"2048x2048-width":67,"2048x2048-height":67,"post-thumbnail":68,"post-thumbnail-width":69,"post-thumbnail-height":70,"12_col":71,"12_col-width":72,"12_col-height":73,"default_landscape":74,"default_landscape-width":75,"default_landscape-height":76,"default_portrait":77,"default_portrait-width":76,"default_portrait-height":75,"6_col_and_margin_short":78,"6_col_and_margin_short-width":69,"6_col_and_margin_short-height":73,"11_col_and_margin":79,"11_col_and_margin-width":80,"11_col_and_margin-height":73,"9_col_rectangle":81,"9_col_rectangle-width":82,"9_col_rectangle-height":83,"11_col":84,"11_col-width":85,"11_col-height":73,"staff_image_696_600":86,"staff_image_696_600-width":87,"staff_image_696_600-height":76,"rectangular_thumbnail":88,"rectangular_thumbnail-width":89,"rectangular_thumbnail-height":90},"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=640&q=90&w=640","640","https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=scale&h=200&q=90&w=200",200,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=scale&h=768&q=90&w=768",768,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=1000&q=90&w=1892","1892","1000","https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=scale&h=1536&q=90&w=1536",1536,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=scale&h=2048&q=90&w=2048",2048,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=1180&q=90&w=1860",1860,1180,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=870&q=90&w=2880",2880,870,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=600&q=90&w=800",800,600,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=800&q=90&w=600","https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=870&q=90&w=1860","https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=870&q=90&w=3080",3080,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=1400&q=90&w=2150",2150,1400,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=870&q=90&w=2640",2640,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=600&q=90&w=696",696,"https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F11\u002FImpression-Icon.jpg?auto=compress%2Cformat&fit=crop&h=300&q=90&w=750",750,300,{"acf_fc_layout":92,"reduced":27,"top_overlap":93,"bottom_underlap":93,"disable_observer":-1,"heading":94,"cta_text":95,"cta_link":96,"items":97},"related_module","small","See more posts","See all articles","\u002Fblog\u002F",[98,114,126],{"type_key":16,"title":99,"excerpt":100,"to":101,"postedAt":102,"readingTime":103,"image":104,"authors":105,"category":111},"What’s new in Paid Media: August 2026 industry updates","\u003Cp>Whilst for many of us the summer holidays are in full swing, the ad platforms haven’t taken a single day off. If you’re just heading back to the office after a stint at the beach, here’s what you missed in August. Meta AI rolls out campaign analysis and optimisation in Ads Manager Meta has built […]\u003C\u002Fp>\n","\u002Fblog\u002Fwhats-new-in-paid-media-august-2026-industry-updates\u002F","2026-09-01T12:00:26",6,"https:\u002F\u002Fimages.impression.co.uk\u002F2026\u002F09\u002Fnikolett-emmert-LFY3Lo-V07A-unsplash.jpg?auto=compress%2Cformat&fit=crop&h=640&q=90&w=640",[106,108],{"name":107,"image":36},"Joe Turnbull",{"name":109,"image":110},"Akshaya Korada","https:\u002F\u002Fimages.impression.co.uk\u002F2026\u002F01\u002FAkshaya-Korada.png?auto=compress&fit=crop&fm=jpg&h=150&q=80&w=150&bg=CFE6F9",{"to":112,"name":113},"\u002Fblog\u002Fcategory\u002Fppc\u002F","PPC",{"type_key":16,"title":115,"excerpt":116,"to":117,"postedAt":118,"readingTime":119,"image":120,"authors":121,"category":125},"What’s new in Paid Media: July 2026 industry updates","\u003Cp>The sun’s finally out, but paid media hasn’t slowed down to enjoy it. Here’s what’s been going on while you were meant to be on the beach. Reddit upgrades Ads Manager with Split Testing and an AI ad generator A Free-form Ads Generator is entering beta, which uses Reddit Community Intelligence to scan your website, […]\u003C\u002Fp>\n","\u002Fblog\u002Fwhats-new-in-paid-media-july-2026-industry-updates\u002F","2026-08-04T11:16:31",5,"https:\u002F\u002Fimages.impression.co.uk\u002F2026\u002F08\u002Fgetty-images-BRL3vv9p-Fw-unsplash.jpg?auto=compress%2Cformat&fit=crop&h=640&q=90&w=640",[122,124],{"name":123,"image":36},"Harry Clements",{"name":109,"image":110},{"to":112,"name":113},{"type_key":16,"title":127,"excerpt":128,"to":129,"postedAt":130,"readingTime":131,"image":132,"authors":133,"category":137},"What’s new in Paid Media: June 2026 industry updates","\u003Cp>Welcome to the latest blog from the  Impression Paid Media Team, where we uncover the latest news and trends to help you stay ahead of the curve. Keep reading to discover: Google Delays the move from Dynamic Search Ads to AI Max Google surprised advertisers in June by delaying the automatic migration of Dynamic Search […]\u003C\u002Fp>\n","\u002Fblog\u002Fwhats-new-in-paid-media-june-2026-industry-updates\u002F","2026-06-24T11:26:41",7,"https:\u002F\u002Fimages.impression.co.uk\u002F2026\u002F06\u002Fandrey-grinkevich-0x6RTts1jRU-unsplash-1.jpg?auto=compress%2Cformat&fit=crop&h=640&q=90&w=640",[134,135],{"name":123,"image":36},{"name":136,"image":36},"Jennifer Shin",{"to":112,"name":113},{"type":139,"style":140,"heading":28,"date":4,"updatedAt":141,"reading_minutes":103,"image":142,"imageAlt":28,"categories":143,"collections":329},"blog-post","light","2022-04-28T08:32:18","https:\u002F\u002Fimages.impression.co.uk\u002F2021\u002F07\u002FcPwY0rcK-050720211625512832_rubber-bands-elastic-bands-office-supplies-stationery-39675.jpeg?auto=compress%2Cformat&fit=crop&h=1180&q=90&w=1860",[144],{"id":10,"count":145,"description":146,"link":112,"name":113,"slug":147,"taxonomy":148,"parent":42,"meta":149,"acf":150,"head_links":151,"resource_count":152,"yoast_title":153,"yoast_meta":154,"yoast_json_ld":198,"_links":297,"path":112},271,"\u003Cp class=\"p1\">Keeping up to date with the latest digital trends, strategies, and announcements can be difficult. Our digital experts regularly blog about the PPC news that’s stirring up the industry, so check back regularly or sign up to our newsletter to stay informed!\u003C\u002Fp>\r\n\r\n\u003Cp class=\"p1\">Find out more about our \u003Ca href=\"\u002Fpaid-media\u002Fppc\u002F\">PPC services\u003C\u002Fa>, or browse our latest tips, advice and opinions below.\u003C\u002Fp>","ppc","category",[],[],[],16,"PPC Blog | PPC Tips, Advice & Guides | Impression",[155,157,160,163,166,169,172,174,176,178,181,184,187,190,192,195],{"property":156,"content":153},"title",{"property":158,"content":159},"description","Keeping up to date with the latest PPC trends, strategies, and announcements can be difficult. 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