Finding the next best selling product is an important factor in an ecommerce business’ profitability. The best way to monitor trends requires online access to sales figures of products. To obtain supplies of potentially best selling products at the right price you need this information early, before increased demand forces the price up and the chances of making a profit fall.
‘Trendosaur‘ is a computer program that scans public sales of all goods globally and identifies what is selling most. This information can be tailored to the group of products your ecommerce business focuses on and allows you to buy the product before it becomes the best seller is it’s predicted to be.
Aimed at the buying rather than the sales and marketing function, where the abundance of computer software currently exists, Trendosaur helps take the guessing out of buying potentially profitable products, to sell in your ecommerce store.
This relatively new computer software is increasing its clientele from small etailers to eTail giants. Buying goods that are selling well, backed up with targeted marketing and advertising, should make these products sell even more and allow retailers of all sizes to grab a share of the profits available.
The sales information will need to be accurate and timely to have real value to buyers and they will need to act quickly to buy the products, before the supply dwindles, or the demand outweighs the supply and forces the cost price up, reducing the profitability of the product.
Will this software make buyers’ instinct and skills redundant? Unlikely, if buyers buy products based on current popularity alone they are likely to increase the supply available to the eTail customers to such an extent that supply outweighs demand and the eTail price of the goods may fall or the business may be left with goods they cannot sell.
However as a valuable source of data to assist the buying function, ‘Trendosaur’ promises to be useful tool, especially for smaller etailers who lack the funds for a separate buying function in-house.