What is this SERP Feature? How Can a Business Be Featured?
This SERP feature looks like some sort of knowledge graph. According to Google, it's not a paid search result. So my question is, what can an ecomm business do to ensure Google features their products in this rich result? I would assume that bidding on keywords in this instance wouldn't matter. Other than optimizing product/review schema, is there anything else that could help a business be "chosen" by Google for this feature?
Yes, you are right. The schema data needs to be optimized to get listed. Following links might be useful for you,
https://developers.google.com/search/docs/specialty/ecommerce/include-structured-data-relevant-to-ecommerce
https://developers.google.com/search/docs/appearance/structured-data/productPlease note, SERP Feature you wanted to display in your query is not visible at all.
The best way to ensure Google features your products in this rich result is to make sure you are optimizing for structured data and ensuring your content is structured properly. This includes making sure your page titles, descriptions, and header tags are relevant and descriptive of your product, as well as using schema markup to better describe your product offerings. Additionally, providing quality and relevant reviews and ratings will help to boost the overall quality of your site, which can improve your chances of appearing in the rich result feature. Finally, ensuring your site is up-to-date with all the latest SEO best practices and keeping your content fresh and relevant can also improve your chances of appearing in this result type.