Hi moogie,
I guess it depends on what exactly you want to track and how you link through to your merchants. Adwords has it's own conversion tracking, so it could tell you which KeyWords resulted in visits to merchants.
It's also worth looking at this thread, as if you code things correctly you could tell which KWs resulted in conversions.
http://www.a4uforum.co.uk/showthread.php?t=13388
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