When you run a reselling business, whether it’s a part-time or full-time venture, it’s essential to have a good idea of how your business is performing at all times. While many resellers rely on spreadsheets and sales or analytics reports from individual marketplaces, there’s nothing that can compare to seeing and evaluating your business analytics all in one, easy-to-use dashboard. Luckily, Vendoo has come out with a new feature that allows you to see your sales and profit data across all of the platforms you sell on so that you can use these insights to make better decisions for your business.
>> Vendoo discount code: If you haven’t signed up for Vendoo yet, use this link (referral link) and it’ll automatically apply a 25% discount for your first month.
How Vendoo Analytics will help your reselling business
All of this sounds great, but how does this help your reselling business? Vendoo’s analytics feature can truly elevate your business by allowing you to make data-driven decisions so that you can continue to buy profitable inventory and grow your business.
One place to track and compare
Instead of loading data into a spreadsheet to see it all in one place, or spending time switching between different marketplaces trying to compare numbers, Vendoo analytics allows you to see all of your important data on one, easy-to-understand page. At a glance, you can quickly see metrics like how much you’re selling, your profit, and which marketplaces are working the best for your business.
Understand what’s selling
If you understand what’s selling well for you, you can make better decisions when sourcing for more inventory. Understanding the brands and categories that are making you the most money can give you a hint of what to focus on when buying for your business to ensure that you’re focused on the items that are bringing you the most profit.
Vendoo Analytics Features
Within the Vendoo Analytics page, you’ll have access to many different features to help you get a clear picture of how your business is doing across the board.
Revenue & Profit
In this space, you can view your revenue and profit which can be filtered based on daily, weekly, and monthly sales or filtered by a custom date range of your choice. This data includes all of your items across all of the marketplaces that you sell on, as long as these items are in your Vendoo account and you make sure to input the sold dates as you mark them sold.
With the handy line graph, you can see how your revenue and profit are doing over a certain period. There is also a summary that provides you with how many items you’ve sold, how many items were listed, and your average sale price across your reselling business.
Marketplace Revenue & Profit
Instead of having to look at your numbers in different formats across all of the multiple marketplaces you sell on, you’re now able to see a graph comparing your revenue and profit across multiple marketplaces in your Vendoo analytics.
Top Selling Category and Sub-category
Wondering what you sell most? The top-selling category and sub-category sections will show you which category dominates your sales so that you know where to focus when you’re out sourcing for inventory.
This section is especially helpful for clothing and shoe resellers. While we know what brands we like to buy and seem to be profitable when you do research to see how much items are selling for, it’s not always easy to decipher which brands are actually selling well for you. In this section, you can quickly see which brands are selling so that you know what to look out for when sourcing.
Average Sale Price by Marketplace
As resellers, we’re always trying to get our average sale price up. This graph will show your average sale price based on each marketplace which can help you see where you should spend most of your efforts.
Number of Sold Items by Marketplace
Similar to the above, you can see the number of items you’ve sold on each marketplace according to the day, week, month, or custom date you select. Knowing which marketplaces are doing best, and which aren’t performing well, can be helpful in deciding where to spend your time and effort.
When running a reselling business, it’s important to pay attention to the numbers, and this is where a lot of resellers can go wrong. Knowing what is doing well for you, where you’re making the most profit, and which marketplaces are performing best is crucial in growing a successful business and ensuring that you’re making a profit. With Vendoo analytics, it’s easy to see how your business is performing so that you can use that information to improve work towards increasing your profit.
Make sure you click here to sign up to get 25% off your first month so you can try out Vendoo! It’s one of my favorite reselling tools that I recommend all the time.