Customer : StrongerRX
Challenge : Diversifying Product Selection
Solution : Using Algopix’s Reliable Sales Data to Search for Inventory
StrongerRX - Reliable Sales Data to Search for Inventory
Based in Miami, Florida, StrongerRX is a private label fitness and apparel brand that sells on Shopify, eBay, and Amazon US, Canada and Mexico. They are well-known for their CrossFit gloves and grips; however, they also offer a large range of apparel such as shirts and shorts.
Alex Cordero, the current owner of StrongerRX, acquired the company in 2017.
“I did not start StrongerRX—I basically revived it,” he said. “It was doing very well in the past and then it went down to zero. I used to be a customer and I noticed that it lost a lot of traction. I was able to revive it and now it’s doing pretty well!”
The Challenge: Diversifying Product Selection
After acquiring the company, Cordero had a lot of work ahead of him to turn StrongerRX into the successful business it is today.
“Coming from a software background, selling online was more difficult than I anticipated,” he said. “Looking at physical products and managing logistics is definitely a different landscape.”
Currently, StrongerRX is seeing a lot of success selling CrossFit gloves and grips; however, Cordero has been trying to diversify its product offerings.
“We want to turn this brand into more—selling more than private label products,” he explained. “We have a lot of brand equity. Our name and logo mean a lot to us, but we feel like we could be more successful if we were to expand our product selection to the point ofdrop shipping products!”
Many other successful eCommerce companies have taken this path to selling and have been very successful. Thus, StrongerRX plans to do the same.
“We are trying to understand what is profitable for us and what makes sense for us to sell,” Cordero said. “And that's a challenge for us. Algopix definitely helps us out.”
The Solution: Using Algopix’s Reliable Sales Data to Search for Inventory
Cordero found Algopix after switching from another product research tool.
“I was originally using another tool,” he said, “but I was looking for an alternative that could analyze not just Amazon, but also eBay and Walmart.”
StrongerRX has a plan for using Algopix with maximum efficiency.
“We want to learn not only what is selling, but to understand the market,” Cordero said.
Cordero plans to use Algopix over the course of many months to gain insight into how the data is changing over time.
“We want to do a bulk analysis today, and then another one maybe five days from now, and do that every few weeks to see the changes,” he explained.
Additionally, Cordero mentioned that it can be easy for private label sellers to feel as if are bound to just being private label sellers.
“It is important to consider that there is opportunity to explore cross-market conditions or understanding disparity across markets,” he said. “In addition, a private label seller could benefit from Algopix in two ways: identifying products that you can dropship or by using Algopix for competition analysis for private label.”
Currently, StrongerRX is trying to transition to a “hybrid model”of private label and drop shipping.
“Algopix is one pillar which I’m using to adjust to this shift towards a hybrid model,” Cordero said. “I think a lot of private label sellers should explore this to expand their market share, and ultimately their bottom line.”
Conclusion: Finding New Opportunities
Using Algopix, StrongerRX, as well as many other online sellers, are able to see opportunities that may not have been obvious before.
“Usually, I have a massive Excel folder with products, and I want to understand which of these products I would actually pursue selling,” Cordero said. “It is time consuming to approach this one by one and understand the disparity in prices of products between Amazon, Walmart and eBay. So, I’d argue that Algopix directs my attention to products that I wouldn't have originally thought to be of any value.”
Algopix, he explained, guides him in the right direction.
“Algopix shows me items that I may not have considered of value. It’s like finding a needle in a haystack. But for Algopix, it would be multiple needles in the haystack, not just one. It’s just all hidden in the data, and Algopix does a great job of matching and highlighting value!”
Algopix aggregates data from 16 global marketplaces in real time and analyzes over 12 million products for over 30,000 users worldwide. Using innovative, proprietary algorithms, Algopix provides online sellers with comprehensive actionable recommendations, product research, competitive analysis and more. The Algopix platform saves valuable time, reduces risks, and helps sellers make better, more informed decisions about new and current products in stock and expansion into international marketplaces.