Customer : GlassesUSA
Challenge : Reduce an Inventory of 6,000 to 100
Solution : Accurate and Rapid Data Using Algopix Bulk Analysis
Added Value :
- Product market research reduced from 2 weeks to 5 hours
- Rapid analysis supports quick decisions
- Chrome Extension assists with single product analysis
GlassesUSA Selects Winning Amazon Inventory in 5 Hours Using Algopix Bulk Analysis
Set out to disrupt the traditional eyewear industry, GlassesUSA.com is the largest online eyewear retailer offering a variety of both high-quality designer and house brands with a wide-range of styles and lens types including: single vision lenses, multifocal lenses, Rx sunglasses, sports glasses, kids glasses, contact lenses, digital protection, anti-reflective coatings and more. Having helped over two million eyes see better, GlassesUSA.com operates in over 92 countries, making affordable glasses accessible for anyone in need of vision correction.
The Challenge: Reducing an Inventory of 6,000 to 100
Daniela Soibelman, marketplaces manager at GlassesUSA.com, faced an enormous challenge. When her online company decided to become a reseller on Amazon US, she was tasked with selecting a best-selling inventory. Out of roughly 6,000 different eyeglasses, sunglasses and accessories, Soibelman had to choose a total of 100 styles to be sold on the Amazon marketplace.
“Starting out on Amazon is a big gamble and it’s big money,” she explained. “You have to choose very carefully.”
Soibelman knew that to sell successfully on Amazon and avoid deadstock, she needed reliable data about profits, demand and pricing so she could choose the right inventory. To accomplish this manually, she would need to look up each product page, find the essential information she needed and then copy and paste it into a spreadsheet. She estimated that this lengthy and arduous manual process would have taken her a minimum of two weeks.
Searching for a platform that could help reduce time and effort, she turned to Algopix.
The Solution: Accurate and Rapid Data Using Algopix’s Bulk Analysis
Using Algopix’s bulk analysis feature, Soibelman uploaded the 6,000 products to the system and received rapid insights about each product. She made sure to check the following:
- ASIN. If none existed, then she knew the product didn’t exist on Amazon and it was not worth it for her to invest the time to establish it.
- Rank. If she saw sellers ranking in the millions or hundred thousands, she knew what the lowest rank would be and whether she would be willing to accept that rank.
- Profit. Soibelman searched for products with high profits. “If I saw a product with only a 10% margin, I knew it wasn’t for me,” she said, “because I still had to add logistical expenses.”
- Demand. She only considered products that Algopix indicated had medium or high demand.
- Estimated sales. With this final piece of information, Soibelman felt confident enough to decide on the quantities to order from each supplier.
With Algopix’s bulk analysis, Soibelman was able to check all 6,000 products in five hours. Having this essential data to decide what products to purchase proved to be critical to GlassesUSA’s success on Amazon.
The Power of Data in a Challenging Marketplace
Soibelman quickly learned that there was lots of competition on the Amazon marketplace, including Amazon itself, and working with the Buy Box was a challenge.
“You might have an amazing product,” she explained, “but you will only sell a lot of it if you win the Buy Box.”
She also learned that strategic marketing was essential.
“To be successful on Amazon, you have to understand that it does not start and end with a great product that you add to the marketplace, and that’s it,” she said. “That was once, but not anymore. To be successful on Amazon, you need to invest both time and money.”
Soibelman learned the importance of having compelling product pages that included high-resolution photos, a well-written headline and a quality video. In addition, she became an expert at helping potential customers find products that they were not necessarily searching for.
Algopix proved to be a valuable asset for navigating Amazon’s highly dynamic marketplace.
By choosing only products Algopix indicated to have high margins, Soibelman had some extra flexibility in case the margins decreased before the merchandise arrived.
“The constant change on Amazon was a surprise to me,” she said, “but with Algopix, I could make quick decisions and stay in the game.”
She also started using Algopix’s Chrome Extension, which allowed her to quickly analyze single products on Amazon.
“Many times, a supplier would recommend a specific product on Amazon, and I would check it on Algopix and discover that it was not a good product,” she said. “Algopix would then suggest an alternative that proved to be a much better choice than the original product.”