San Francisco—Sept. 15, 2015—Stitch Labs, an inventory control and multichannel selling solution, announced a set of features that make it easier for retailers to expand their revenue opportunities with Amazon. This includes the ability to automatically publish product listings, view detailed Amazon fees reports, and automate order and stock management when using Fulfillment by Amazon (FBA).
With the holidays approaching, Amazon can be a large opportunity for retailers to increase sales. Amazon has more than 244 million active customers, more than 40 million of which are Amazon Prime members who spend twice as much as the average Amazon customer. Because of the elevated revenue opportunity on Prime, Amazon requires merchants to fulfill through their FBA service in order for products to be eligible. These high standards are simplified by the suite of Amazon features Stitch launched—making it easier to access Prime users and improving visibility as retailers grow.
According to Brandon Levey, CEO of Stitch Labs, “The barrier to entry for selling through Amazon Prime is incredibly complex and typically requires major changes to operational workflows. By creating automated features to support their existing workflow, we’re allowing retailers to launch an Amazon sales channel with FBA without changing their day-to-day operations.”
Stitch data shows that, on average, retailers who began selling on Amazon saw their overall order volume increase by 83 percent and revenue increase by 71 percent in their first 30 days. As a part of furthering that revenue, Stitch’s new Amazon fees report allows retailers to gain deeper insights into the average price, cost and profit for each product. Retailers now have clear visibility into Amazon fees, which can range from 14 to 40 percent of the purchase price. By capturing the true cost of doing business on Amazon, retailers can price more effectively, and improve their revenue and profitability.
Other features include:
- Publishing advancements. Retailers can match products to existing listings in Amazon to publish new listings easily and quickly, saving time and expediting the process for retailers to begin selling on Amazon.
- Multichannel fulfillment through FBA. This feature allows retailers to leverage Amazon FBA across all areas of their business by automatically sending orders from all integrated channels (Amazon, Shopify, WooCommerce, etc.) directly from Stitch to Amazon to be fulfilled.
- Amazon FBA stock control. This feature automates and simplifies the process of sending stock to FBA. Within Stitch, retailers have access to built-in shipping label generation, packing slips, in-transit data and automatic updates of stock after Amazon receives the items. This process also improves transparency and accountability of transferred stock between retailers and Amazon, something typically done manually through multiple systems.
- Amazon competitive price report. Stitch gives retailers the ability to optimize pricing against competing products in an effort to win Amazon’s Buy Box, attract more customers and increase sales.
Data used for this analysis represents $8.8 million in revenue over 130,000 separate orders from 128 Stitch customers. Only U.S. dollar orders added to Stitch Labs, and shipped to one of the 50 U.S. states or DC from customers that integrated Amazon more than one month after becoming a customer and integrating their first sales channel to Stitch were included. Business growth is based on the number and revenue of orders in the 30 days after integrating Amazon with Stitch compared to the 30 days prior to integrating Amazon with Stitch.