Learn Your Way Around MarketScout
by Colleen Quattlebaum, on February 2, 2016
Thriving as an online seller is increasingly complex. Competitive forces, unrealistic customer expectations and razor-thin profit margins are all challenging factors facing your business today. One of the most difficult aspects of running an eCommerce business involves sourcing the right products. In addition to identifying products that are popular on the Amazon marketplace, you also need to know (in advance) if you can make money.
MarketScout makes it fast and easy to find the information you need to succeed as an eCommerce seller. Read on to discover how to put this tool to work for your business.
Upload Your Supplier’s Product Catalog
Searching through a list of of ASIN/UPC/EAN codes can take hours, but MarketScout can conduct the search for you, freeing your time for other tasks. Simply upload your comma-separated values (CSV) batch file containing the codes to MarketScout. The first row of your file should contain the column headings identifying the column information, and the actual import data should begin on the second row. The first column should contain the code. If you know the cost of the item, include it in the second column to calculate margins for your report. (Note: there is a downloadable template available in MarketScout to make it easy for you.)
Instantly Access the Sourcing and Competitive Data You Need
You’ll receive an email notification when the search is completed. You can view search results online via MarketScout or by downloading the report. The completed report will include information such as product sales rank, cost, category, number of FBA sellers, total sellers, fulfill cost, unit weight, lowest price, lowest commission, lowest margin, lowest margin percentage and much more.
You can easily sort the data to find the information you need to know when deciding whether or not to purchase the product. The online report allows you to click on the column headings to sort from low to high values (or from high to low values). The downloadable CSV report can provide access to even more detailed information depending on your specific business needs.
Make an Informed Decision
After uploading your batch file to MarketScout and reviewing your detailed report, you can evaluate the data to decide whether or not to make an order. Armed with this information, you’re ready to reach out to your seller to stock up on items that typically perform well on Amazon. Making decisions about which items to purchase doesn’t get any easier than that!
Give ‘Scout a Try
Ready to find out how MarketScout can transform your eCommerce business? Click here to register for a free trial of MarketScout today!