Simon’s business has been selling automotive parts online since 2004. It is a multi-channel set-up with a Magento-based web site as well an eBay anchor store. The eBay store has approx. 6,000 SKUs, over 130,000 feedbacks, and it has always been the top seller in its chosen eBay categories. The business dispatches on average 100 orders per day. The most remarkable thing is – Simon runs the business all by himself!
Competition is intense. There are competitors who sell the same products that are sourced from the same suppliers as Simons’, as well as compatible and interchangeable parts from aftermarket, OEM, and genuine sources.
Profit margin has been under pressure. Simon has to structure the business to be lean and mean in order to have the cost advantage to compete and maintain his high profitability.
Automation is Simon’s secret of success. Every process in his business such as restocking, listing management, buyer communication, stock synchronisation and shipping, is fully automated.
Dynamic Repricing is handled by StreetPricer which monitors and tracks his competitors’ pricing and quantities using item specifics such as Make/Brand, MPN, UPC, Interchange Part Number, and keywords. As repricing is done several times a day, competitors have no chance to undercut Simon’s pricing. Simon also uses StreetPricer to identify new best sellers by studying his competitors’ fast-moving items.
Since the pricing has been taken care of, Simon’s listings are always price competitive. Together with other automation tools, he can focus on running his day-to-day business. Simon is able to run his business with just himself, which means a very profitable, low-stress and successful business.
Since using StreetPricer I no longer have to go and manually check our competitors prices, if one of our competitors drop their price by a little but then we can get our prices adjusted to make sure we keep those sales.- Simon