As usual, Algopix has been hard at work updating our product analysis platform to provide eCommerce sellers with the data they need to become successful by making smart information-based decisions about what products to sell and the best channels and markets to sell them.
We are pleased to announce the following new features being released this week.
Support for multiple currencies
Algopix now allows you to analyze products in your choice of currencies. In addition to USD, we now provide pricing, sales figures, cost breakdowns, and profit analysis in Euros, Great British Pounds, and Australian Dollars. All you have to do is select your currency of choice when you enter your product to be analyzed, and all monetary figures will be displayed in that currency throughout your analysis. Currency exchange rates are based on a variety of banks and commercial sources and are updated hourly.
By enabling you to select your preferred currency, your Algopix analysis becomes more relevant and meaningful, enabling you to make decisions more quickly. We strongly recommend that international sellers, and those considering selling internationally, take advantage of this new option.
Price range filter for more accurate analysis
We added a price range filter to make sure users get results that match their intended search. By giving Algopix a price range of listings to include in our analysis, users will eliminate products that are clearly not a match to their intended search.
For example, you might want to analyze the viability of selling a particular Samsung smartphone, which you can buy from your supplier for $150. However, there might be a listing on Amazon where someone is selling just the empty box for that particular phone for $10 without a clear differentiator in the listing. By setting your filter to include only listings within a specified price range, you will eliminate items that are being sold for unreasonable prices. This will ensure that those types of misfit items, which are not relevant to your product research, will not be figured in your analysis of market selling price, sales quantities, dollar volumes, profit, and recommendation calculations.
Including a price range helps ensure that your results match your intended search.
Explanation for why products are Not Recommended
We realize that sometimes users don’t understand why Algopix identifies some products as Not Recommended. To help users interpret this analysis, we have added a short explanation to clarify the reason why products are marked as such.
For example, let’s say you ran an analysis for a Nintendo controller that you can source for $45, Algopix might identify the product as Recommended to sell on Walmart US, but not on eBay US or Amazon US. When you hover over the Not Recommended tag, you will see an explanation of the criteria for why Algopix identified this product as “Not Recommended.” In the case described above, the explanation will say that the product provides a profit margin below 15%. Since the current profit margin is close to the 15% threshold and there is a high demand for the product on Amazon US (but also high competition), the user might want to go back and renegotiate a lower purchase price from their supplier.
Bulk Analysis now includes monthly unit sales figures
Hopefully, you’ve already heard about how you can save a lot of time and money by analyzing up to 200 products at once using our Bulk Analysis feature.
Well, today we want you to know that we’ve made it even better!
Now, when analyzing for Amazon and Walmart marketplaces, for every item in your file, you also get our Sales Estimator features, including Estimated Monthly Unit Sales and sales amount, helping you to make smarter business decisions by understanding the product’s expected sales volume.
While 2018 has been a great year for Algopix and our growing community of eCommerce sellers, we want to make sure you know that we’re not resting on our laurels. We have a ton new features and enhancements planned for 2019, many of which are a direct response to your input! We look forward to sharing them with you as they happen.
We wish you each and every one of you a wonderful New Year, filled with good cheer and bountiful success!
The Algopix Team