As we saw everything about Algopix, in the previous review. Now they are launching a new feature called Total Sales for online sellers who want to get more idea about sales estimation and help them make more profits.
Online sellers on eBay and Amazon face many challenges as they try to serve their customers’ needs and maintain profitable businesses. Offering the right product at the right time in the right place is the key to success in the eCommerce industry but doing so has never been easy. Uncertainty about different key metrics, such as product demand levels, expected margins, or sales volume, can lead to incorrect product-sourcing decisions, resulting in decreased sales and overstock.
Recent trends have shown that over 50% of online buyers purchase products from overseas retailers, making it even more important for any modern eCommerce business to offer its products on more than one market. However, an expansion always poses a challenge since many questions must be answered before making the transition to selling on foreign markets. Some of the most common questions include “What does the competition for this product I’ve been offered look like?”, “What market should I offer it on?” and “How many units will I sell?”. In addition, it takes valuable time to calculate expected sales and revenue, which aren’t accurate in most cases.
Algopix’s new Sales Estimator feature – Total Sales; ultimately aims at resolving these questions and much more. The Sales Estimator feature provides online sellers the monthly number of units sold and the sales volume (i.e., Gross Merchandise Volume) for any product on eBay and Amazon broken down by 14 different marketplaces. By integrating product sales signals from numerous data providers, including real-time transactions, demand indicators, and more, Algopix can cross-reference open-source information with proprietary insights to estimate product sales. This process might sound complicated, but the results displayed are easy-to-read, enabling the users to make fast data-driven business decisions.
No matter if the online seller, manufacturer, or brand, everyone can benefit from Algopix Sales Estimator equally.
Online sellers on eBay’s and Amazon’s marketplaces can finally make better sourcing decisions by understanding the market for every product they’re being offered and find out what products are popular abroad, reducing the risk associated with international expansion.
Manufacturers get valuable business intelligence insights on competitors, before committing to a new product and track the performance of their products across 14 different markets.
Lastly, brands can discover new business opportunities by comparing their brand to others and better understand the sales potential of products in countries with no official distribution.
Simply put, Sales Estimator is a gateway to invaluable, actionable intelligence that will help users assess new business opportunities and understand the market for any given product.
Sales Estimator is the latest addition to a wide range of benefits offered by Algopix. Features such as a recommended market price, detailed expenses breakdown, competition analysis, estimated profit, bulk analysis for up to 200 products at once, and many more have helped Algopix’s users to make the best, data-driven business decisions possible.
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