Last updated on April 23rd, 2021 at 05:11 am
Product research provides information on the specific and essential characteristics of a service or a product. It helps companies understand the customers’ needs better so that the required product can be tailored appropriately. This research can also help in getting new ideas for the products. It is of immense help in screening and testing new ideas and helps reduce costs by avoiding investments in discarded ideas. This form of research answers the following questions:
- Whether the offered service or product will be successful in the market?
- What are some of the similar products present in the market?
- What are the best ways to start, develop, and sell your products or services?
Algopix is an amazon product research tool that provides eCommerce merchants with actionable purchasing insights. By analyzing products automatically, Algopix reduces the time merchants spend on tedious manual processes to work out what to shop for, where to sell, and at what price. No more wishing, no more hoping – just smart, data-driven analysis to help merchants make the best business decisions possible. Algopix provides real-time product marketing research for eBay and Amazon sellers. Market insights are available for 14 global marketplaces and help save time, decrease risk and facilitate sales.
Data points include product identifiers, recommended market value, an expense breakdown, competition analysis, demand level, estimated profit, and total sales estimates to assist sellers in making better decisions about what to buy and where to sell it.
As an end-to-end product marketing research platform for the multi-trillion dollar eCommerce industry, Algopix was created to supply online sellers the info they have, to form an intelligent decision about which products to shop for and where to sell them. Algopix provides the demand level supported by the sales of the merchandise last month in each market selected during the search process.
Why Should You Do Product Research when Selling Online?
Product sales research plays a very significant role in selling products profitably online.
- Competitive edge: Organizations that perform regular research on products always excel within the global market and stay before their competitors. Product research is predicted to supply the very best professional benefit to any business that has well-defined objectives.
- Innovation: The growing importance of marketing research also lies within the indisputable fact that it offers the scope of innovation, which will help develop high-value technologies. This can further help in creating a design as well as strategies for the organization.
- Goal endorsement: It is always good to have clear business goals for the success of any products or services. For example, if the same product or service is provided without any purpose to flourish, then there is a high probability that the business takes a back seat, or it could be simply left behind in the rat race.
- The market of product: It helps in knowing the best market for the product. To earn profit from the product, it should be sold in a market where people are buying the product, but how will you know this product sales research helps you solve the problem and ensures the product goes to a market where profit can be made.
- Pricing: It helps set the best price for the product, increasing profit and avoiding over or underpricing. Competitive pricing can also help in getting an edge over your competition.
- Reduce Risk: Risk is reduced as the seller can calculate profit manage stocks, and estimate beforehand the product’s fate; this prevents and decisions on approximate ideas.
- Breakdown of Expenses: Algopix summarizes the expenses related to selling the product within the selected markets. With this information, online sellers can calculate the expected margin. Considering essential metrics like account marketplace (eBay/Amazon/Walmart) fees, PayPal fees (for eBay sellers), FBA fees (for Amazon sellers that use Amazon’s storage solution), shipping costs (based on the product’s dimensions), and taxes.
- Estimated Units/mo: The estimated number of products sold in the last month. For Amazon, the estimate of the monthly sales may be a calculation supported by the product’s Best Sellers Rank combined with additional demand indicators and sales history. For eBay, the estimate of the monthly sales is a calculation of the actual sales in the last month.
- Est. Revenue/mo: This number reflects the Gross Merchandise Volume (GMV) from the past month. For Amazon, the estimated revenue is the sales number multiplied by the base price of the product. For eBay, the estimated revenue is the sum of product-related transactions in the last month.
Algopix Review: Product Features
- Multi-Channel Marketing
- Inventory Management
- Sourcing & Selling Insights
- Company Comparison
- Demand & Market Position
- Expenses Analysis
- Sales Estimator
- Bulk Analysis
- Google Adwords Insights
How Algopix Works?
The working of Algopix is effortless. You log in, and it asks for a product identifier once the product identifier is entered. You will need to enter the price of the product. It can be the price quoted by the wholesaler or the price you want to sell it, or any price of your interest. After that you need to enter the market you want to know about one market must be selected all markets can also be selected and then you need to provide product condition if it is new, old or refurbished if you want to know the analysis of the recommended search phrase for your product select the box beside including google Adwords analysis. The workflow can be understood as :
- It all starts with a product of interest. Using ASIN, UPC or EAN, to recognize the product, the Algopix engine begins the insights process.
- With a connection to 17 eBay, Amazon, and Walmart marketplace worldwide, Algopix aggregates the most relevant data points.
- Using an exclusive algorithm to research the info Algopix engine produces valuable insights for the market, including recommended or not recommended for sellers to form decisions quickly.
With this information in hand, online sellers can make better decisions about what to buy and where to sell. This increases profit same time reducing the risk.
Algopix exists to make it easier for online sellers to gather and utilize the info needed to form critical decisions about their business.
The Algopix dashboard has much vital information to help out sellers-
- High-Profit Opportunity: The market with the very best profit opportunity of the chosen markets considers all related fees and costs. Included beneath the market is that the recommended listing price.
- Product Demand Level: The demand level is decided by product interest in search engines and actual product sales across several markets.
- Expenses: Includes shipping costs, marketplace fees, PayPal fees, and taxes.
- Profit: The profit in any case expenses, including merchandise cost.
- Algopix’s Recommendation: Given all of the data collected, Algopix uses an advanced algorithm to produce a recommendation of whether or not this product is likely to be successful given the selected market
Algopix Tools and Solutions for Amazon, eBay, and Walmart Sellers
Algopix offers two tools which are divided into different segments to suit the seller requirements-
- Research & Analysis
- Single product analysis
- Multi-product analysis
- Store analysis
- Browse & Discovery
- Product discovery by keywords
- Category discovery
Algopix Review: Advantages, Pros, and USPs
- Besides providing many resources and tools, Algopix is extremely easy to use and intuitive. It allows us to make any tool as required and automate knowledge and provide data on cost breakdowns, recommended retail price, and competitive analysis to form the proper decisions.
- It offers relevant marketing insights from an integrated Google AdWord analysis. It allows me to realize a general overview of pertinent product data. So, for instance, market prices, expenses, demand levels. Amazon, eBay, and Walmart are all crucial indicators for a product website.
- With a connection to fifteen eBay, Amazon, and Walmart marketplaces worldwide, Algopix makes expanding into new markets extremely easy.
- A significant advantage of Algopix is that I can analyze up to 200 products directly during a bulk analysis which makes marketing research far more efficient.
- The product research tool by Algopix allows me to assess the demand for products which is vital on my behalf of me because it shows if buyers are willing to get it.
- Marketplace: The list of markets selected for analysis. Users have the power to pick from an inventory of 17 markets (9 Amazon markets, seven eBay markets, and Walmart). For the complete list of supported markets, please click here.
- Market Price: this is often the recommended asking price for the merchandise therein a specific market. Algopix considers all the variables, including the number of sellers, sellers’ feedback, and sales history, and uses a proprietary algorithm to calculate market value.
Algopix Review: Pricing Plans
Algopix offers three enterprise pricing plans for all users. The plans are available through monthly or yearly subscriptions, and therefore the pricing is calculated supported by the number of products you’ll analyze. Besides, custom pricing plans are given to businesses that got to analyze quite 3,000 products. The plans offered are as follows-
Custom Plans are also available.
Algopix Review: Coupon Codes
15offEaster- Get 15% Off on Annual Plans at Algopix (Site-wide-Discounts)
StartupWorldCode9939- Avail 10% OFF on Your Purchase
Algopix Trial Plan
The free trial is seven days, during which you’ll enjoy all the advantages of the “Algopix Basic” plan. When the trial is over, you will have the option of subscribing to one of the pricing plans, or you will automatically transition to the more restricted free version with limited access.
Once your trial has ended, you will remain on our free tier. To have access to advanced features like convenient batch product searches, the plan can be upgraded and access our full suite of tools. Plans start at just $9.99.
Subscription can be canceled at any time with a partial refund.
Algopix Alternatives and Competitors List
Some of the algopix alternatives are as follows-
- Magento Commerce
- OWOX BI
Any organization that invests a lot of effort and time into researching products is well poised to increase its knowledge and understanding of the business scenario. If any business has plans to launch new products or services within the market, it’s advisable not to hire a couple of people, put in some information, and carry on with whatever seems right. Any organization that has a fixed business goal would understand the importance of product research. As an Amazon seller or any e-commerce seller, for that matter, you must provide the most competitive rates and know your market correctly. Maintaining stock, according to the market, helps in preventing loss. Product research helps invest in a profitable product. It also tells you about the market to sell your product. Product research is a modern seller’s necessity instead of traditional markets e-commerce is a different concept, and the sales online depend on multiple factors. It saves much time as it reduces manual labor of selecting the product searching it.
The number of sellers who offer the merchandise purchasable in each market is very high. So, selling a product requires brilliant work, and Algopix does the job for you. It recommends whether the product should be or not put up in a market even about the price. The recommendation is based on profit and demand calculation. Suppose there is a demand for this product in that specific market and the expected profit margin is greater than or equal to 15%. In that case, the product is ‘Recommended.’ Product sales research software can help ascend in the market and make a profit.
Limited Offers: On Growth Tools for Your Ecommerce Business
- All in One Amazon Sellers Tools: Helium 10, AmzScout, JungleScout, Zonguru
- FBA Arbitrage Calculator: BuyBotPro, Zen Arbitrage
- Product Sourcing Tools: Source Mogul, ASINspector,
- Ebay Seller Tools: Salesfreak, Zikanalytics,
- Dropshipping Tools: Oagenius, AutoDS
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