Is It Possible to Track Pricing, Seller and Stock Location-wise
It has been ages since e-commerce channels have started seeing some violations and ill mechanisms regarding selling of products and services. Many sellers who have merchandise themselves to sell a brand’s product manipulate the sales rate if they perform unwell.
Behind this can be the reason like lesser commission on such products, bad coordination between the seller and the brand, less conversions in certain regions, and so on. But sometimes, they are the only ones who face loss and even at certain places which have a good number of conversions. In this regard, brands need a location-wise tracking tool.
This tool is nothing but a formula towards tracking your sellers, conversions and fill rates. If a brand is able to rectify which area has how many conversions, it’s stock allocation would automatically be authentic and effective. But if they lose control over stock availability or price control, customers may stop searching for its product as they will always be disappointed by outsocking product status and difference in purchase value time and again.
Basic Areas of Concern : Price, Stocks & Sellers
Usually, tracking tools get to focus on substances such as stocks and their authorized sellers and its pricing policies. If a seller is not assuring the level of required stocks as per the demands, your target customers will rely on your rivals for purchase.
Losing out your conversions on your rivals is a curse in business. Therefore, tracking is important to be done for particular locations based on your sellers and their stocks and look upon the price they are offering to the customers so that a disciplined format can be established.
How Does It Work
Tracking of sellers with their stock efficiency and pricing is done through a cloud-based server tool that a brand implements for its business tracking. This tracking is performed on a real-time basis that looks after your sellers performance in terms of your product sales and value. It inculcates alerts every time when stock goes OOS, Back-in stock, or gets breached in pricing.
10 Benefits of Location-wise Tracking
- Report on Out-of-Stock:
Instant analytical alert on outstocking beforehand.
- Report on Back-in Stock
Instant analytical alert in stocks getting back on listing.
- Real-time Access on Price Violations
Help in real-time action plan against any price violations taking place by displaying the exact location of the seller without hardship
- No Resource Wastage
Better allocation of inventory and its distribution without wastage on huge and unnecessary finance investments
- Effective Order Fulfillment Experience
Every order will be fulfilled with regular stock availability.
- Higher Conversion Tracking
Help to grab more number of conversions whenever customer wish to
- No Loss on Rivals
Never miss on your customers’ order placement to drive them to your rivals
- Strong Competition Control
Strict taking care of stock and sellers with effective monitoring to enjoy good control over market
- Omnichannel Stock Monitoring
Each platform tracking can be achieved through automation when done on sellers and stocks
- Standardize Operation Technique
Help in setting up a standard of operation so that brands’ image can never get diluted
Metrics Must Consider The Following
- Stock Availability
Stock is the primary need a business must acquire enough to fulfill their potential customers demand. You have to learn the rule to “Never Say No” to your customers you target to grow your business. For this matter, automated tools should be tracking sellers’ location to identify how much is the stock level and since how long the seller has not procured more inventories from the brand.
- Stock Fill Rates Frequency
Stock fill rate is the time when a seller is required to ask for more inventories and keep their warehousing up to the mark always. This is the basic mantra to ensure each order fulfillment received through any e-commerce marketplace. If sellers are missing on stocks, brands get alert to effectively take actions regarding the same and eliminate bouncing back of potential customers.
- Regions with Good Conversions
Regions are the cities or places where brands may calculate their customer engagement. In this metric, data would be including the number order placed in comparison to sellers with available inventories. If brands could recognize the amount of stock less than the conversions, they may allocate a certain quantity to such sellers on time before loss could take place.
- No Huge Logistics Cost
Logistics are the distributors while carrying the stock from brands warehouse to the sellers warehouses. In the matter of tracking, brands may assure an efficient inventory distribution when they do not have to invest much on it. They may track their closest seller as per the conversion rate and start sending their inventories to them. So, with less investment more profitability and customer satisfaction can be achieved.
- Location-wise Price Breaches
Price Breaches or Price Violations are the terms used for such situations when sellers allow customers to purchase the product at a lesser price. Although brands already set MOP (Marketing Operational Price) for every seller, sellers try to breach it in greed of more sales. This is displayed as per the location where the breaches have occurred and help brands take quick and strong actions.
Tracking is a simpler term as long as it is seen on vocabulary aspect, but terms out to be the toughest job for brands for analyzing their sales rate and customer reviews.
If you are a brand that looks forward to the scope of development and standardizing your mechanism of business, this is the right choice to select an instant and simplest automated tracking tool for eCommerce that provides you control over not just Amazon but every single channel with historical and current metrics as per sellers’ location.