Episode 32 - Marketplace Pulse - Using Data to Measure Opportunity
USING DATA TO EDUCATE AND INFORM RETAIL BUSINESSES
In this episode of the podcast, Julie and Noelle offer up their key takeaways and insights from a previous interview with Juozas (Joe) Kaziukėnas, founder of Marketplace Pulse. Joe founded Marketplace Pulse with the idea to use data to educate and inform “behind the scenes’ businesses in the online retail space. Marketplace Pulse offers services that help predict user trends. Joe is an absolutely wonderful resource, and he has plenty to share with the podcast audience about how to use data wisely.
Kiri had the chance to sit down with Joe and glean some data-driven insights about international markets and competing in online retail platforms. For Joe, the two biggest factors for success in the international marketplace is fulfillment and advertising. Both of these endeavors require a financial investment, so his advice to smaller brands is to focus on online platforms where they know they can turn a profit. This led Kiri and Joe to an interesting discussion about eBay and Walmart, as well as how brands can do well for themselves as a 1P seller on Amazon.
Joe’s best advice is to be selective and drive sales. It is not a matter of listing a product and letting some “Amazon Magic” take hold. Instead, a targeted approach with a clear eye on the cost of sales will be the most effective for any brand. The proof is in the data.
Joe gives us his vision for what Marketplace Pulse can be for “behind the scenes” businesses.
Discover the ways Marketplace Pulse data can be most useful.
It takes time for the data to begin illuminating trends.
Marketplace Pulse wants to be clear about how it acquires its data.
Sell in as few places as possible, especially if you are a smaller brand.
You have to commit to selling internationally.
Brands should look into eBay and Walmart, but make sure your products will be successful there.
Ebay is still managing to fit into the future.
First party sellers are still a large and growing demographic on Amazon.
Brands that launch on Amazon are thriving because they are invested in selling the product.
MENTIONED IN THIS EPISODE