Enterprise Health and Beauty Reseller Sees 3x Revenue Increase
Enterprise Health & Beauty Reseller
This leading health and beauty company started out as a brick and mortar store for millennials. They opened their first Amazon and eBay stores in 2013 and expanded to a broader age group. Seeking to overcome pricing issues in the marketplace, the company needed the right repricing software to nail its sales velocity, optimize prices for its products and produce more revenue.
After a disappointing run with one repricer on the market, they turned to Feedvisor, and the company’s profits have skyrocketed since. In 2015, its online storefront raked in over $7 million dollars and the revenue forecast for 2016 is a whopping $11.5 million dollars.
Finding the Right Repricing Software
When Doug’s health and beauty company made the initial move to Amazon in 2013, he 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.
The realization that there was more to the Buy Box than just price made Doug turn to an algorithm with wider capabilities and solutions.
“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.”
Getting Strategic and Going Algorithmic
The win with Feedvisor was clear from the onset for Doug: within two weeks of using Feedvisor, one particular SKU generated over $30,000 and more revenue than with other pricing methodologies they tried out.
Feedvisor’s revenue intelligence dashboard also made it stand out as the right software choice for the company. Doug also uses its deep dive capabilities to take action and decide fast which products to drop or give priority to.
increase in profit margins
increase in gross profits
increase in revenue
A Long-Term Sustainable Solution to Pricing
Through Feedvisor, Doug’s company has modernized the way it manages its online storefront, prices its products and does business overall.
With future plans to undertake FBA, they are using Feedvisor to continue their quest on Amazon and grow the 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.”