“Feedvisor literally blew the other repricer out of the water”Doug Mrdeza | CEO & Founder of Mrdeza Group
Increase in profit margin
Increase in revenue
Increase in gross profit within a month
Jump in profit margin within a year
Finding the Right Repricing Software
As the Founder and CEO of Mrdeza Group LCC, Doug Mrdeza ensures the company operations run smoothly and profitably. When the company made the initial move to Amazon in 2013, Mrdeza was unaware of the pricing issues involved with selling in the online marketplace. While everyone else was using a repricer, Doug didn’t know about their existence.
With all his time being swallowed up by repricing each single product manually, Doug decided to take action. Eager to find a viable automated solution to pricing on Amazon, he tested out two leading repricers at the same time, one of which was Feedvisor. After comparing the two, it became apparent that Feedvisor clearly outperformed the other.
“With the other repricer, there was a lot of maintenance and stress involved because we constantly had to watch our products and the ones we wanted to be competitive with. We were also shooting ourselves in the foot, by pricing down, just to get as much Buy Box as possible.”
The realization that there was more to the Buy Box than just price made
Mrdeza turn to an algorithm with wider capabilities and solutions.
Getting Strategic and Going Algorithmic
For Doug and Mrdeza Group, the win with Feedvisor was clear from the onset.
“We saw straight away that Feedvisor was pricing up and generating a higher profit. What sold us was that we weren’t just stuck at floor price. We were making more money and didn’t have to do anything. Feedvisor literally blew the other repricer out of the water.”
Within two weeks of using Feedvisor, one particular SKU generated over $30,000 and more revenue than with other pricing methodologies they tried out.
“One popular hair gel we sell is usually priced at around $10.47. Over the 2014 Holiday Season, when we had just started using Feedvisor, the price shot up to $14.40 and we sold close to 10,000 units that month. I love the fact that we can literally just let the algorithm take over instead of closely monitoring the repricer’s performance – it’s so refreshing.”
Feedvisor’s revenue intelligence dashboard also made it stand out as the right software choice for Mrdeza.
“When I login, I immediately see our top 5 revenue generating products, which is great, and I can focus on keeping those 5 in stock.”
He also uses its deep dive capabilities to take action and decide fast which products to drop or give priority to.
“We tend to focus on our top 20% of products, and try never to run out of them if possible. By delving deeper into the dashboard, and also utilizing the weekly replenishment reports that Jeremy (Strategic Success Manager) sends us, we can make decisions quicker and easier than if we’d have to pull out all the information ourselves.”
A Long-Term Sustainable Solution to Pricing
Through Feedvisor, the Mrdeza Group has modernized the way it manages its online storefront, prices its products and does business overall.
With future plans to undertake FBA, Mrdeza is using Feedvisor to continue
its quest on Amazon and grow its business further.
“Just make the investment. Feedvisor is a premium product so you’re going to pay a premium rate, but in profit you’re going to get 10x what you’ll pay out.”