Machine-learning algorithms will leverage hundreds of data points to determine the right price for private label items.
Tel Aviv, Israel, February 2, 2016/ PRWeb/ Feedvisor, the Algo-Commerce company, announced today the launch of its new algorithmic repricing solution for private label products sold on the Amazon Marketplace. The first of its kind for online retailers, the private label repricing solution utilizes machine-learning algorithms to model the demand for private label items based on hundreds of data-points, in order to identify the right price for the item according to the retailer’s business goals.
“We’ve witnessed an upward trend in private label selling in today’s market, but most repricing solutions cannot address the unique challenges private label selling presents,” said Victor Rosenman, CEO and Founder of Tel-Aviv based Feedvisor. “With no competition for these items, many retailers struggle with pricing decisions, and guesswork is often their default baseline.”
Feedvisor is now revolutionizing the way private label retailers operate, by enabling them to price their private label items without the need for inputting any rules or identifying similar products. Instead, Feedvisor’s machine-learning algorithms map the demand for the product based on historical sales and current market data, enabling accurate pricing that eliminates human bias. Private label retailers are therefore able to increase profit margins, maintain a steady pace of sales, and make accurate purchasing and replenishment decisions.
“The private label repricing solution has been developed closely with Feedvisor’s customers, and in its beta form has already produced incredible results. In the last two months, some customers have seen their private label sales jump by as high as 58 percent and their profit grow by 65 percent,” continued Victor Rosenman “Feedvisor has been a key contributor to the success of our customers and I’m excited to extend our offering to private label sellers.”
In its first phase, Feedvisor’s private label repricing solution will be available to Amazon marketplace sellers exclusively. For more information, click here.
Feedvisor is the pioneer of Algo-Commerce – the discipline of using Big Data and Machine Learning Algorithms to make business-critical decisions for online retailers. Feedvisor’s cloud-based Algorithmic Repricing and Revenue Intelligence solutions power millions of pricing decisions daily; providing retailers with actionable insights to maximize profitability and drive their business growth.
Feedvisor was founded in 2011 and has since become a true market leader. In the last year alone, Feedvisor’s customer base has grown by 250 percent, and over $1.5 billion in GMV is managed on the Feedvisor platform. Clients have seen results of up to 500 percent increase in sales and 40 percent increase in profit margins.
Feedvisor’s technology has won several prestigious industry awards, including the Red Herring Top 100 Global in 2014, and Frost and Sullivan’s Technology Leadership Award 2014. Visit us at www.feedvisor.com.
Walker Sands Communications