Enterprise Seller Experiences 74% Increase in Sales Within 6 Months of Returning to Feedvisor
“Feedvisor’s AI-first approach has allowed us to quickly and efficiently track the metrics that are most important to our business.”
With over a decade of experience selling on Amazon, this particular client is vastly familiar with navigating the ever-expanding e-commerce marketplace landscape. Dedicated to selling electronics and gaming products as well as beauty and fashion items, the company is currently selling 2,700 exclusively competitive SKUs. With a hybrid fulfillment method of both FBA and FBM, the seasoned, enterprise team is on pace to achieve an annual revenue through Amazon of $12 million in 2018.
Challenge:
Finding a True, AI-First Repricer That Can Act on Complex, Real-Time Market Dynamics
After partnering with Feedvisor initially, the client was approached by Seller Snap who told them they could provide the same results at a lower price point. Upon using Seller Snap, the system stopped working and would not reprice their items. After running into this issue where the repricing function was not effective, the company realized they needed ongoing, scientifically proven algorithmic repricing, coupled with up-to-date reporting, and chose to return to Feedvisor.
Solution
Provide a Reliable Price Optimization Platform to Inform More Impactful Business Decisions and Drive Growth Upon Returning to Feedvisor
After leaving Seller Snap and returning to Feedvisor, the client was assigned a technical onboarding manager to discuss priorities and goals and provide hands-on support and training. We performed a strategic analysis of their catalog composition and operational model to identify areas of risk and opportunity, optimize top sellers, and pinpoint sales trends and velocity. We then applied our precise, machine-learning capabilities across the company’s products. The customized algorithms then assessed the entire competitive landscape on an ongoing basis, adjusting pricing when necessary.
“The personalized and specific reporting has made a huge difference to our business’s day-to-day operation.”
Results
Seller Experienced Significant Increases to Core Business KPIs
- From March to September, the company experienced an increase of 74% in sales with Feedvisor’s price optimization and intelligence platform.
- With regard to profit, the company saw an increase of 67% over the same time period.
- Based on the items sold at the time, the client experienced a 62% increase in ordered items.
- In the first month after returning to Feedvisor, they experienced a 37% increase in profit.
increase in sales
increase in profits
increase in ordered items
“Feedvisor’s trustworthy algorithms and extensive, data-driven reporting have allowed us to make stronger business decisions on a regular basis.”
Conclusion
Feedvisor’s Customized Algorithmic Repricing Solution Provides Continuous Value for Enterprise Seller
For the client, having a repricing solution that makes quick and accurate pricing decisions according to a series of variables has proven effective. In addition, they have found the extensive, personalized reporting to be critical to their day-to-day business, particularly the non-competitive report. This operational report identifies products that are not competitive because their prices are too high and Feedvisor suggests a new floor price, easily allowing the client’s team to update their floor prices in bulk. Additionally, Feedvisor worked with the team to create a customized report for their specific business needs, which provides them with a monthly breakdown by brand for all products that they buy. Through Feedvisor’s insightful reporting, data, and intelligent pricing model, the client has been able to make more precise forecasting decisions, optimize key SKUs, and capitalize on their AI-driven competitive advantage as they scale.