Do It Yourself or Outsource: Amazon Product Analysis

Julian Ghadially
March 27, 2024
3
min read
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Amazon sellers,

You are entrepreneurs. You work hard; you hustle every day. You lead yourself, embracing discipline and wearing many hats. When the business works like it should, your dreams come true. 

In fact, the best entrepreneurs don’t just work hard, they work smart. They know how to create leverage in the time they work by appropriately delegating tasks. Andrew Grove describes this concept of leverage in his famous best seller, “High Output Management.” In short, business leaders should focus their decision making where they can get the most output, and they should delegate the rest.

So what should you delegate?

That depends on three factors: your goals, your abilities, and the abilities of the person or partner you're considering delegating to.

Let’s say your goal is to go from a 6-figure Amazon wholesale business to a 7-figure business this year. How are you going to achieve that? You have limited time in the day, which gets split up between finding sourcing partners, analyzing product opportunities, buying product, managing listings, running your operations, serving customers, and dealing with Amazon, to name a few. To hit your growth goals in wholesale, you need time for sourcing and analyzing new products, but these are time consuming processes and a lot of your time is spent just managing the existing products. 

Where is your super power? Wholesale by definition is not about differentiating on the product level. Usually it’s about strong relationships, good fiscal discipline, making good purchases, and setting up the most efficient processes. If your expertise in e-commerce allows you to get direct relationships with brands, then your ecommerce expertise is your differentiation. Chances are, your expertise probably does not reside in efficiently analyzing product opportunities if you’re using external tools and are not a computer science expert.

In our humble opinion, we at Margin Geek are very good at what we do because we spend all our time tweaking our AI algorithms to find the best products for our clients. Moreover, we care as much as you do about the output because we commonly operate with profit share commissions for many of our clients. (Paying for usage is the standard option). 

Delegating to AI

Regardless of industry, the market is adopting AI, and you need to be ahead of the competition.

With wholesale, there is so much product data available to analyze. How can a seller win at analyzing all that data without using AI, when AI is naturally capable of sifting through petabytes of data to find the needles in the haystack that will give your company the highest return. The companies that make efficient wholesale buying decisions will grow larger while the companies that rely solely on close relationships with suppliers will eventually lose market share.

Sellers will also find that AI can help generate product descriptions, come up with advertising text, mine insights from reviews, render fancy product images, etc.

How to save 100's of hours in wholesale

Our speciality is in analyzing products, and manually scanning list of 6,000 products can easily take 100+ hours. We can do a better job than a manual scan, while saving you all that time.

We believe in our abilities so confidently that we will offer a refund to any customer who is able to find more profitable opportunities using another tool.  Try it for yourself! Get Started here.

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