Large 3P Seller Sees 64% Increase in Average Daily Profits With Feedvisor After Using Competitor
“We found success with Feedvisor right away. The algorithmic repricing is excellent and we were very impressed at how soon after the partnership began that we saw impactful results.”
Introduction
This large seller began selling on the Amazon marketplace in 2008 and is strictly an e-commerce operation. In addition to Amazon, the company sells on eBay, Jet, and Sears. With a portfolio of nearly 4,000 SKUs, the business sells art supplies such as paints, palettes, and brushes, as well as digital projectors and mat cutters. The Amazon arm is the bulk of their business, which is pacing to achieve an annual revenue of about $4 million.
Challenge:
Finding a Price Optimization and Intelligence Solution to Increase Buy Box Share
Prior to partnering with Feedvisor, the company was using a competitor for repricing. However, the team found that the interface was not intuitive and they were constantly contacting support or trying to figure out the functionality on their own. They found that the platform was taking a long time to reprice the items and they were not winning the Buy Box frequently — a task that is a priority for a company with exclusively competitive items like this one.
Solution:
Apply Real-Time AI Technology Suited to the Seller’s Specific Business Needs
We performed a strategic account review and value analysis for the business, focusing on the items that were in stock for more than 50% of the analysis period, which was just over one year long. Next, we applied our machine-learning algorithm to the subset of items that sold with and without Feedvisor. Lastly, we provided performance assessments and hands-on support on an ongoing basis to ensure the company’s pricing strategy was robust and could be tracked by SKU, category, or time of year, amongst other variables.
Results:
Client Experiences Growth in Daily Sales and Profits With Feedvisor
- Upon partnering with Feedvisor, the company’s Buy Box share for their entire catalog increased from 30% to 55%.
- The company experienced a 49% increase in their average daily sales and a 64% increase in average daily profits versus before they were implementing Feedvisor’s price optimization and intelligence platform.
Conclusion
Large Seller Receives Account Performance Improvements and Return on Investment With Feedvisor
Before partnering with Feedvisor, the company did not have a comprehensive pricing strategy in place. Through Feedvisor’s best-in-class algorithmic repricer and predictive business intelligence, the company has been able to gather specific insights and actionable advice regarding their top selling product listings and has remained competitive for the Buy Box through dynamic pricing. On the operational side, the company has utilized ASIN-specific sliders within the Feedvisor dashboard to reveal pricing snapshots, sales trends, and areas of unrealized profit — and will continue to do so in order to maintain a 360-degree view into their profitability and associated account metrics.