‘Merced’ is a short-day (June bearing) type cultivar that produces fruit over an extended period when treated appropriately in arid, sub-tropical climates. When treated with appropriate planting regimes, ‘Merced’ is similar to ‘Camarosa’ (U.S. Plant Pat. No. 8,708), but with greater productivity, higher quality fruit, less vigorous plant, and lighter colored fruit. It is also similar to ‘Ventana’ (U.S. Plant Pat. No. 13,469) and ‘Benicia’ (U.S. Plant Pat. No. 22,542) but having a more compact plant, later fruiting, superior fruit quality, and firmer, better flavored fruit.