Ecomdash recently celebrated a milestone! Customers have been using our inventory software for just over a year now and have processed nearly $14 million in sales orders in that time. We’re grateful for the positive feedback we receive in conversations with our customers. But we started wondering more about facts and figures when it comes to ecommerce data. Where do our sellers sell the most? How many offer free shipping? What price point racks up the highest profits and revenue?
We decided to check out the last 12 months of inventory, sales order and shipping data to see what we could learn in order to help you sell more in the next 12 months. We carefully analyzed the numbers and worked to identify any trends or new insights for you (scroll down to view the infographic). We found the data generated more questions than answers for us, which was exciting all by itself. As you know, pinpointing the right questions to ask is the most important part of “figuring it all out” in the end. We hope to continue to gather more data and additional types of data in order to start answering some of those critical questions for you over time. For now…
Here’s what we learned:
When it comes to marketplaces, 46% of all sales were products sold on eBay. Amazon is a close second with 33% of sales on that marketplace. Although we know Amazon is the bigger player in the market overall, eBay is the winner from our own customer sales data over the last year. We realize we have a pretty small sample size compared to “all” – and the numbers will also be skewed based on the nature of our own offering. Either way, we thought it was neat to see. The Shopify and 3DCart website platforms followed with a combined total of 9%. So, our customers as a whole, rely on Amazon and eBay for 90% of their overall revenue stream! Is that because it’s so difficult and expensive to market your own website? Is that because Amazon and eBay have worked to make it easier to sell on their marketplaces? Or, is it as simple as traffic – the two big players have it and nobody else comes close?
When it comes to shipping, 42 % of all products shipped went via the United States Postal Service. UPS is the second most used shipping option at 40%. About 16% of our customers shipped using Endicia’s shipping software. We were actually really surprised to see Stamps.com with only 1%. Hmmm, I wonder what that’s about? Endicia and Stamps.com seem to have similar offerings, services and prices. How different are they really? What does Endicia have that Stamps.com is missing? Is it pricing and rates? Is it just a marketing or perceived difference? Also, please know, we did not offer international shipping options until just recently – so these numbers are very skewed toward domestic and USPS options. We believe that’s why USPS and UPS were the highest used shipping carriers in our data sample. We think it’ll be interesting to see how these numbers change as international options come into the picture. What do you think, what other data should we be tracking when it comes to shipping and shipping options?
25 percent of customers added a new sales channel after implementing our tool. Ecomdash customers took advantage of the ease of adding marketplaces while using our software. Was that really the case, because we made it easier or quicker to accomplish the list-for-sale headache? Or was it because they were planning to do so anyway and the “ease” derived from getting control over their inventory before adding anything new into the mix? Is it because they wanted to test a new product line? One out of every four customers added a new marketplace after starting to use ecomdash. We think that’s a pretty high ratio. We’d be thrilled if we helped with making this a possibility for our customers. What are your thoughts there, why do you think our customers added sales channels after having used the system for some time first? Were they just testing us out first to see how we did with one of their sales channel’s operations?
What kinds of products were the most profitable to sell on Amazon and eBay? Although this was the real question we wanted to answer for you with our data, we felt our sample size was just too small to make good sense right now. Just know, we have been collecting profitability information and will have even more ROI details by the end of this year to dig a little deeper for you next time. For this data sample, we found that certain price points outperformed others in total sales numbers and decided to share those numbers with you here. The two top price points played out this way: The greatest number of sales orders were placed on items priced between $10 and $15. Items priced at more than $50 were the second largest revenue generator for our customers over the last 12 months. This could have been due to the nature of eBay sales in general – where you can buy a lot of different items “on the cheap” or some very unique or rare items with much larger price tags? It could have been the fact that a decent percentage of our early customers are liquidator-type sellers and maybe that particular business model for selling online lends to those types of price ranges. Who knows…we’ll learn more for you over the next year.
As we mentioned, we will continue to collect and analyze data that identifies valuable trends and information for our customers. As our customer base grows, so will the sample size and depth of insight. We are looking forward to sharing more details next year. In the meantime, are there any metrics you would like us to dig into over the next 12 months? If so, let us know in the comment section below.