Amazon has introduced a Web-based data analytics tool for businesses selling through its Amazon Marketplace platform.
Available on five continents across the globe, Egrow helps online retailers and small businesses to organise and compare their sales information. The data analytics tool analyses millions of products in the Amazon marketplace and aggregates sales information in easy-to-understand charts and panels.
The Amazon Marketplace e-commerce platform enables third-party sellers to sell new or used products at a fixed price, alongside Amazon's regular offerings.
Through Amazon Marketplace, third-party sellers gain access to Amazon's customer base, and Amazon expands the offerings on its site without having to invest in additional inventory.
Egrow allows sellers to launch their business on the platform, better manage their product databases and track the ordered products, according to Amazon.
There are almost two million sellers on the platform, with an average of 197 million people visiting Amazon.com on a monthly basis.
“Amazon Marketplace is one of the most lucrative platforms for small businesses today, yet it’s also one of the largest, which makes it challenging for budding entrepreneurs to not only identify profitable and in-demand products to sell, but also to price and promote these products in order to stand out from the crowd,” says Anton Lang, Egrow CEO.
“With Egrow, our aim is to bring simplicity back to selling, highlighting valuable data using charts and panels, all within a single user interface.”
According to the company, Egrow has seven main analysis tools, including a product database, live scanner, saved searches, product tracker, keyword tool, reverse Amazon standard identification number research and rank tracker.
While Amazon Marketplace analysis solutions have been available to sellers for some time, the company says Egrow offers a larger product database than many competitors, improved pricing modules, and access to more accurate and up-to-date sales data.
The Web tool is available in 11 countries: Germany, Italy, UK, Spain, Turkey, US, Canada, India, Brazil and Australia. Amazon says it will expand into new marketplaces in other countries in the future.
The solution has been created to work in two distinct ways, supporting both existing sellers and helping prospective sellers to launch their offerings, notes Lang.
“The tool analyses sales data (with a 90-day historical data memory) to ensure new retailers have the information they need to select the most relevant products to sell. It also helps existing users to better optimise their listings for maximum visibility and consumer engagement. The tool scans millions of products each day, collating average sales and revenue data. It helps save time in market analysis, assisting sellers to identify products they can easily sell,” explains Lang.
The basic Egrow plan can be accessed free of charge. The comprehensive Egrow package costs $192 (R2 663) per year, which includes all Web tools and the Egrow Chrome extension.
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