Feedvisor unveiled ProductSphere pricing technology, the first price optimization solution for brands and private labels competing in Amazon’s dynamic arena.
With this addition to its integrated, end-to-end platform, Feedvisor is now the first and only company providing dynamic, real-time pricing based on a 360-degree view of each product’s unique competitive landscape.
Key features of the ProductSphere technology include:
- Competitor mapping by SKU: Machine-learning algorithms map relevant competing products for each product in a client’s catalog, and complementary and substitute products
- Strategy-driven algorithms: Set a business strategy for each product to optimize performance based on target objectives like revenue, profit, or liquidation
- Real-time price optimization: Patent-pending machine-learning algorithms continuously search for the optimal price point and make real-time adjustments, enabling clients to achieve their target business strategy
“Until now, pricing technology could only be used by resellers competing for Amazon’s Buy Box. Without the right tools to support their needs, many brands and private label sellers have avoided dynamic pricing because they fear the unknown.”
Victor Rosenman, CEO, Feedvisor
Feedvisor sees a growing interest in private labels
This launch comes in response to the industry’s growing interest in private labels and brands migrating to the marketplace.
According to Feedvisor’s State of the Amazon Marketplace 2019 report, launching new private label brands is a 2019 business goal for nearly one-third of sellers (32 percent).
Further, more than half of current Amazon sellers (62 percent) already have private labels in their catalogs, and one-quarter (25 percent) are only selling private label products.
“With Feedvisor’s ProductSphereᵀ pricing technology, brands and private labels are finally able to win against competing brands by dynamically pricing their inventory according to their business goals.”
Dani Nadel, President and Chief Operating Officer, Feedvisor
Besides its pricing capabilities, Feedvisor’s platform provides holistic support across the countless variables that influence success on Amazon, from operational intelligence and inventory insights to strategic advertising and brand management.
The company’s team of Amazon experts is actively managing 7.5 million products on Amazon, accounting for more than $2 billion in annual sales.
Do you use Feedvisor and what do you think about this new feature? Please use the comments section below or head over to our Facebook Group for Small Business Sellers and interact with other small business owners.