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Swanson Health Products Drives Revenue and Profits With Dynamic Price Optimization
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“Feedvisor is a critical component for us as we continue to grow our Amazon channel.” – Patrick Yatskis, Senior Digital Marketing Manager, Swanson Health Products
Recently, Feedvisor founder and CEO Victor Rosenman and client Patrick Yatskis from Swanson Health Products collaborated on an episode of Multichannel Merchant’s podcast, MCM CommerceChat. The two industry experts discussed the role pricing plays in a thorough e-commerce strategy, how Swanson leverages Feedvisor’s platform, the benefits of AI-powered technology, and how brands can find success on the Amazon marketplace. Swanson Health Products, which this year celebrated its 50th anniversary of being in business, sells around 20,000 SKUs on its own e-commerce site, and also has a burgeoning presence on Amazon and other marketplaces like Walmart and eBay. The company identifies marketplaces, with an emphasis on Amazon, as a core area of future growth and was interested in finding a technology solution to help drive growth. Prior to partnering with Feedvisor, Swanson Health was using rule-based repricing technology, which is immensely cumbersome and requires manual input with regard to the pricing decisions. Knowing it needed to make a change, the company embarked on a pilot program with Feedvisor’s price optimization and intelligence platform. It priced 50% of its national brand catalog with Feedvisor and the other half of its catalog via the rule-based software. The results spoke volumes: the products being dynamically priced by Feedvisor had 18% higher sales compared to the ones Swanson was managing on its own. Feedvisor’s platform also positively impacted Swanson’s Buy Box share, increasing it to 91% from 84%. Additionally, Feedvisor’s automated solution has allowed Swanson to focus on the core elements of its business that fuel growth. The company’s e-commerce revenue is up 60% year over year and total sales on Amazon are up 35% year over year. By leveraging Feedvisor’s AI-powered pricing technology, the team at Swanson has been able to effectively generate incremental sales and profits. Patrick stated, “Our experience and partnership with Feedvisor have over-exceeded my expectations. We have had support through every step of the process.” Listen to the full podcast recording below to discover:
- How dynamic pricing can help a business’s e-commerce strategy
- How AI-powered technology can help brands increase sales and overall profitability
- The extensive role pricing plays in the customer experience
- How brands can ensure success on Amazon
- How Swanson Health Products utilizes Feedvisor’s price optimization platform to yield impactful results on Amazon
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