Tinny Tots realized 40% increase in profit margins by using BoxNsights and taking data driven decisions on pricing strategies.
| About Tinny Tots
Tinny Tots was founded in 2013 by Mr. Girish Anand. They deals in complete range of baby products for growing baby 0-18 months of age. Tinny Tots is a part of Anand Garments which focuses on manufacturing and offline wholesale business for baby products. They have around 1000 products that are listed across online platforms.Challenges
Tinny Tots had moved one thousand products to online marketplace for retailing, however the product pricing strategy was a major concern. They used to decide the pricing based on competition price without considering minimum selling price and per product profit margins.“We use to spend around 10 hours a week to decide the pricing model for our 1,000+ products. This was clearly not a feasible solution as we were not taking into account the dynamic market trends.” said Mr. Girish Anand, Director of Anand Garments. They did not have insights about which products are selling at profit and vice versa, which significantly affected the overall growth as products were being sold below buying cost and it was un-tracked.Maintaining buybox visibility was another challenge due to which they lost many deals.Solution
Tinny Tots started using BoxNsights for optimizing the pricing models that were based on real-time market insights. BoxNsights proved to be a flexible, reliable and a scalable solution for them. Modifying and updating the prices of all the products became very easy.Result
Tinny Tots observed a significant increase in operational efficiency in terms of time spent on taking pricing decisions.
“What used to take 10 hours is now a matter of 10 minutes. BoxNsights allows me to put our pricing strategies in autopilot mode which allows us to focus on our core business rather than worrying about losing the buybox or competition pricing. Above all, we saw a 40% increase in profit margins over a period of two months, that was astounding.” said Mr. Girish Anand.
No losses. Only Profits. BoxNsights helped them track which products are making losses and gave recommendations on the price changes to gain the buybox. It also allowed them to set a minimum selling price below which the product cannot be sold. Now they just sit back and relax while BoxNsights takes care of the pricing optimization, increasing sales & earning higher profit margins.
|At a Glance
● Decision making support
● Improved pricing strategies
● Reduce manual price monitoring
● Product wise profit/loss analysis
● Getting visibility in BuyBox
Started using BoxNsights, the pricing optimization software for improved decision making and better pricing models to improve profit
margins and increase sales with BuyBox visibility.
● Real-time Competition Insights
● Auto-pilot pricing engine
● Improved BuyBox visibility
● 40% profit margin increase within one month
● Reduced pricing decision time from 10 hours/week to 10 minutes/week
● No loss sales. All profitable deals.
BoxNsights is a leading repricing application built for smart sellers. It provides real time insights to optimize the pricing strategy, to ensure increased profit margins, higher buybox visibility and dynamic price adjustments.For more information visit: www.boxnsights.com
“The user interface of BoxNsights is very intuitive and simple to understand. We were using the tool from 2nd day itself after configuration. I really liked the simplicity with with the product is designed.”