Wiser monitored Amazon's top 100 selling SKUs across 8 categories over a 55 day period to illustrate the volatility of the Amazon marketplace's best selling products list.
San Francisco, CA (PRWEB) March 23, 2016
Wiser’s latest white paper offers insight into one of the most important aspects of an online store: product assortment. It lays out the leading method for obtaining an optimized inventory by combining competitor, internal, and marketplace data.
Jake Bailey, CEO of Wiser, said, “It's hard for retailers to understand how their inventories match up against competitors. And if they do have an understanding, they often don't know how to improve it. From collecting the most popular items to making sure items have expected profit margins that fit your pricing strategy, Wiser's latest white paper provides tips on how retailers optimize their product assortment with the help of data.”
To illustrate the importance of product assortment in eCommerce, Wiser monitored Amazon's top 100 selling SKUs across 8 categories over a 55 day period to illustrate the volatility of the Amazon marketplace's best selling products list. They discovered that there is a lot of change in what's most popular for shoppers. Over the test period, they learned that 250-400 SKUs cycled through each category's top 100 list. They tracked key metrics, like average rank and standard deviation for products in top categories.
Wiser uses this information to make recommendations on what retailers should consider adding to their inventory. This study not only highlights how to identify which products are popular for retailers, but it shows how rapidly the eCommerce landscape changes. Assortment intelligence is crucial to a retailer's online success, and Wiser's white paper explains why.
Click here to download the complimentary white paper.
Wiser empowers brands and retailers to compete in the ever-changing retail industry. We level the retail playing field by equipping brands and retailers with a turnkey solution to sell the right products, at the right price, at the right time.
Wiser's suite of data-driven merchandising solutions include: dynamic pricing, assortment and pricing optimization, MAP monitoring, and more.
For more information on Wiser, please visit wiser.com.