How prescriptive analytics helps consumer brands to protect their profit margins on Amazon in tough economic times.
Increasing prices for customers while also raising the fees for sellers are a few of the tactics Amazon is using to protect its own profit margins. Consequently, the margins that brands have previously enjoyed are being squeezed.
Our recent session at the firstmovr online conference, JBPx eCommerce Growth Summit/Amazon includes five hacks to protect your products from shrinking profits. If you missed our 30 minute session you can play it back here:
Digital Shelf Analytics tools can help you grow sales. But in these turbulent times where inflation and rising costs have seen many businesses' profit margins shrink to their limits, how can we use analytics to build resilience and sustain growth at scale?
Next generation prescriptive analytics have arrived. Forward-thinking brands are using this powerful science to increase their sales as much as six-fold while protecting their profitability by enabling smarter and more efficient decision making.
The average company uses less than 10% of the data they collect and store. What if you could use 100% of the data to discover exactly where you need to focus? Prescriptive analytics is the way. In this session we cover:
- How to use these tools to protect yourself from 3P sellers and other threats
- How and why a data driven approach is the only way to thrive in a questionable economic climate to protect your market share
- The productivity AND profitability you can enjoy when you harness these powerful algorithms
- The time and resources you’re likely to drain if you don’t
When it comes to Amazon, prescriptive analytics - particularly coupled with KPI tracking - could be the most important tool in your toolbox for winning on the platform. Amazon may have slowed down since the pandemic, but it’s still growing, and brands that use their data wisely can pull the levers on Amazon that brings you the largest ROI.