Yes, that's actually a best practice for e-commerce businesses that also have physical stores.
For maximum results, you should split Performance Max (PMax) campaigns into two separate types:
1) Local Store PMax Campaign
- Focuses on driving foot traffic to your physical location(s).
- Uses store visits or local actions as the main conversion goals.
- Includes your Google Business Profile integration (so location extensions show up across Search, Maps, and Display).
2) Online Sales PMax Campaign
- Focuses strictly on driving e-commerce purchases on your website.
- Optimizes for online conversions like completed checkouts.
- Targets broader audiences without needing a local store tie-in.