I did a bit more research on this topic. I find the below articles very informative as they both offer technique-based advice that e-commerce owners and marketers can easily implement as they navigate this tool.
https://www.entrepreneur.com/article/307077
https://www.bigcommerce.com/blog/google-shopping-campaign-tips/
Getting set up on Google merchant center is just the first step. Since the tool is fairly expensive, optimizing the shopping ad compaign is necessary. It is more of a strategic add-on tool in my view. The decision to invest in Google shopping ads is influenced by how old an e-commerce site is and how successful its business has been. For example, ratings are important for these Google shopping ads. However, for a ratings to show on your ad, you need to have a mininum of 3 reviews of any single product and a minimum of 50 reviews across your site.
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