For past decade, the co-founders of Algopix have been committed to helping companies succeed in eCommerce. A few years back, Ori Greenberg and Dani Avitz founded an agency focused on providing the required expertise and management to expand companies’ e-commerce efforts internationally. Along the way, they had the opportunity to work with dozens of companies performing various activities including conducting general market research, creating international growth strategies, advising about local business entities and regulation, setting up fulfillment centers and creating customer support departments; we did it all. And humbly, they did it all pretty well. They had a great customer base, a great team and genuinely loved what we were doing.
But Ori and Dani started to see a bigger problem, a more systemic problem that went beyond the scope of the professional services their e-commerce agency offered. The majority of the merchants they were working with were relying on ‘gut feel’ to make critical business decisions. In the era of big data, of making the most calculated decisions possible, e-commerce merchants were falling behind. So they started spending more and more time with our merchants to understand the nuances and like any good investigation, they started at the beginning.
The first task with a new customer was always the same – to take a very close look at their inventory, specifically the list of slow movers; the millions of dollars stuck in warehouses. Reviewing the list of items consistently produced the same results – the items either had a low demand level or were priced higher than the market price as a result of inaccurate purchasing decisions. So, how did the customer choose inventory that was in low demand and/or inaccurately priced? Gut. Feel. In some cases, the market price was examined but gaining the demand level was always a challenge and always a guess.
Ori and Dani knew a few niche solutions existed in the market to help merchants explore the demand level on specific marketplaces (eBay, Amazon, etc.) but didn’t provide an Omni channel perspective which meant performing manual analysis to understand every item in every market. There had to be a better way.
To ensure they were on the right path, Ori and Dani brought on three additional full-time employees to test their hypothesis that more informed purchasing decisions from the beginning would help merchants’ bottom line. The results were more than apparent – sellers generated greater margins, increased sales volume, reduced risks of overstock and decreased the turnaround time of their funds.
The final step was interviewing merchants to ensure they were building a product that was easy to use, easy to look at and easy to see the value in. They wanted it to be a solution that was built specifically with sellers in mind. They spent the next two years designing and developing a solution they genuinely believe will help e-commerce merchants do business better. That has been and always will be their primary goal.
The results of their efforts were Algopix, a comprehensive product research platform that provides the eCommerce community with the data needed to make the most informed business decisions possible. By providing actionable product insights automatically, Algopix helps eBay and Amazon sellers save time, increase sales and reduce risks.
Algopix offers immediate benefits to users including:
Saving Time – reduces time spent on a tedious manual process and enables users to make decisions quickly.
Reducing Costs – with the right data about what to source and sell, overstock of products that are not in demand is reduced.
Lowering Risk – by making more informed decisions, the risk of losses on making the wrong choice is reduced.
Increasing Market Awareness – Comparison of different offers and sales campaigns over the long term for more targeted business strategies.
Enabling Smart Business Decisions – through intelligent analytics, Algopix equips users with the data needed to know precisely what actions to take
Algopix is currently free to use and supports over 12 eBay and Amazon markets globally.