Mulberry's FY26 turnaround shows how product focus and margin discipline translate to AI-ready structured data. Here's what Shopify merchants can learn.
By Team Gimmie
Updated August 27, 2026
TL;DR: Mulberry's 12% gross profit increase on just 4% revenue growth proves that product data discipline and brand focus drive margin recovery. For Shopify merchants, the same principle applies to AI visibility: complete, structured product data with 8+ attributes gets cited 4.3x more often by AI shopping engines than sparse listings. The brands winning in both traditional retail and agentic commerce are those treating product data as a strategic asset, not an afterthought.
Mulberry's results reveal that margin improvement comes from product focus, not just volume. The UK luxury brand posted 4% revenue growth to £125.5 million while gross profit rose 12% to £90.2 million, pushing gross margin to 71.9%. Their "Back to Mulberry Spirit" strategy centered on refining their core product offering rather than chasing breadth. For Shopify merchants, this translates directly: AI shopping agents and answer engines reward depth over sprawl. Products with complete structured data—8 or more attributes including price, availability, shipping details, and variant specifications—are cited 4.3x more often in AI shopping results than products with fewer than 3 attributes. The margin recovery playbook and the AI visibility playbook are the same: invest in the quality of what you already have.
AI shopping platforms parse structured product data to form recommendations, and incomplete data means invisibility. ChatGPT Shopping converts at 15.9% and Perplexity at 10.5%, compared to Google organic at 1.76%. But these platforms only recommend products they can fully understand. Shopify's internal data shows that products syndicated through the Shopify Catalog with complete attributes convert at 2x the rate of products using scraped data. The Universal Commerce Protocol (UCP), now auto-enabled on every Shopify store, allows AI agents to query live inventory, variants, and pricing directly—but only if that data exists. Mulberry's margin discipline required knowing exactly what they sold and why it mattered. Shopify merchants need the same clarity in their product data for AI agents to select them over competitors.
AI agents synthesize rather than rank, and they favor products with complete, accurate, and structured information. Brand search volume now correlates 3x more strongly with AI citations than backlinks (0.664 vs. 0.218). But even strong brands get skipped if their product data is incomplete. The product data checklist for agentic commerce includes: clear product names without keyword stuffing, current pricing across all variants, real-time inventory status, shipping time and cost, return policy, minimum 3 product images including lifestyle shots, fully specified variant data, GTIN or barcode, brand name, AI-optimized descriptions, at least 10 reviews with aggregate ratings, and categories using Shopify's standard taxonomy. Missing any of these fields reduces the probability that an AI agent will surface your product when a shopper asks for recommendations in your category.
Mulberry's margin recovery came from knowing their products deeply and communicating that value clearly. Structured data is the digital equivalent. Products with full Product schema appear 3-5x more often in AI-generated shopping recommendations than those without. FAQPage JSON-LD drives 3.1x higher answer extraction rates. For Shopify merchants, this means treating schema markup as a revenue lever, not a technical checkbox. Dawn v15.0+ includes built-in schema using the structured_data Liquid filter, but many stores still have incomplete implementations. Audit your product pages for: accurate price and availability schema, shipping details, aggregate ratings, material and size specifications, and GTIN fields. The brands that treat product data with the same rigor Mulberry applied to their product line will capture disproportionate share of AI-referred traffic that converts at 4-23x the rate of traditional organic visitors.
Google rank and AI visibility are now two separate games. Research shows the overlap between top Google search results and AI-cited sources has collapsed from 70% to below 20%. A brand can rank first on Google for a query and be completely absent from ChatGPT's answer to the same question. AI systems weight fact density, content freshness, and third-party validation far more than backlinks or keyword density. For Shopify merchants, this means running parallel strategies: traditional SEO for Google organic traffic, and answer engine optimization for AI citations. The good news is that the foundational work—complete product data, structured schema, fresh content with comparison tables—serves both. Mulberry's focused strategy worked because they stopped trying to be everything to everyone. Shopify merchants should apply the same focus: pick your core products and make their data AI-perfect before expanding.
Start with a product data audit of your top 20 products by revenue. For each product, verify: all variant combinations have accurate pricing and inventory, shipping details are specified in schema, at least 3 high-quality images exist including lifestyle shots, the description leads with who the product is for and why it matters, FAQ sections exist with 5+ questions in answer-first format, and aggregate review ratings are implemented with schema. Then check your Shopify admin for the new AI performance section that shows how your products perform inside ChatGPT, Gemini, and Copilot—this feature shipped in the Summer '26 Edition. If your scores are low, the fix is almost always data completeness. Remember that content updated within the last 30 days receives 3.2x more AI citations than stale content, so schedule quarterly refreshes of your top product pages with new comparison data and updated specifications.
McKinsey estimates agentic commerce could redirect $3-5 trillion in global retail spend by 2030 as AI agents shift from recommending to autonomous buying. Currently, 73% of consumers use AI somewhere in their shopping journey, and 70% are comfortable with an AI agent completing purchases on their behalf. Shopify has positioned merchants for this shift by auto-enabling UCP on every store and shipping six AI-facing endpoints in May 2026: /llms.txt, /llms-full.txt, /agents.md, /.well-known/ucp, /api/ucp/mcp, and an agentic sitemap. But these endpoints only work if your underlying product data is complete. Mulberry's turnaround came from executing fundamentals better than competitors. For Shopify merchants preparing for agentic commerce, the fundamental is the same: make your product data so complete that AI agents have no reason to choose a competitor.
What does Mulberry's FY26 recovery have to do with Shopify AI visibility? Mulberry improved gross margin by 12% through product focus and brand discipline rather than volume expansion. For Shopify merchants, the parallel is clear: AI shopping agents reward product data depth over catalog breadth. Complete structured data on your core products drives more AI citations than sparse data across a large catalog.
How many product attributes do I need for AI shopping visibility? Products with 8 or more structured attributes are cited 4.3x more often in AI shopping results than products with fewer than 3 attributes. Required attributes include price, availability, shipping details, variant specifications, images, descriptions, and review data.
What is the difference between Google SEO and AI visibility? The overlap between top Google search results and AI-cited sources has collapsed from 70% to below 20%. Google rankings depend heavily on backlinks and keyword optimization. AI citations depend on fact density, content freshness, structured data completeness, and third-party validation.
How do I check my AI visibility score on Shopify? Shopify's Summer '26 Edition added a new admin section showing how your products perform inside ChatGPT, Gemini, and Copilot. Access it from your Shopify admin to see specific guidance on improving visibility in each AI platform.
What is the Universal Commerce Protocol and do I need to set it up? UCP is the open standard developed by Google and Shopify that allows AI agents to discover products, build carts, and complete purchases. It is auto-enabled on every Shopify store as of late March 2026. You do not need to configure it manually, but it only works well if your product data is complete.
How often should I update product pages for AI freshness signals? Content updated within the last 30 days receives 3.2x more AI citations than stale content. Schedule quarterly refreshes of your top product pages with new comparison data, updated specifications, and fresh customer review highlights.
What conversion rates do AI shopping platforms achieve? ChatGPT Shopping converts at 15.9%, Perplexity at 10.5%, compared to Google organic at 1.76%. AI-referred visitors convert at 4-23x the rate of traditional organic visitors, making AI visibility a high-leverage investment.
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