November 21, 2024
MELBOURNE, AUS – Long before “artificial intelligence” was a household phrase, Cardy Chung (pictured) was studying the possibilities in the late 1980s. When evaluating re-pricers for his online stores, he was not impressed and decided to build his own, eventually incorporating elements of AI that had finally matured.
The result is StreetPricer, a multi-channel repricer app that works on Amazon, Walmart, Amazon Business, eBay, and Google Shopping—plus any www web stores that use price scraping. “I sold my online business a few years ago to focus on StreetPricer,” says Chung, founder and CEO, StreetPricer, Melbourne, Australia. “The StreetPricer app looks at the market and sets your pricing based on either competition or your sales velocity—number of units sold over a given time.”
StreetPricer’s biggest Amazon seller told Chung about Prosper Show, and that eventually led to signing up for a booth at next year’s show, scheduled for March 25-27, 2025 at the Las Vegas Convention Center. “We are exhibiting at Prosper Show to showcase our market-leading multi-channel re-pricer,” Chung says. “Sellers use us to manage Amazon, Walmart, and eBay prices on a single platform. Our top customer has two million Amazon SKUs with us. It’s not uncommon to see customers report a 30% to 50% increase in Amazon sales after switching to us.”
Chung incorporates AI into StreetPricer, which factors in price, spread, fulfillment, seller identity, delivery, condition, and then lets the algorithm blend the settings. “It is infinitely more flexible and adaptable than manually determining the logic flow,” Chung explains. “More importantly, it self-iterates until the job is done. For example, until the BuyBox is won, or the highest possible price is obtained while maintaining the BuyBox.”
However, Chung cautions that AI alone will not win the BuyBox. “If your cost of goods is too high and you have to sell at a high minimum, there is nothing we can do,” he warns. “Even the best AI algorithm won’t save you. You need to source your products competitively.”
StreetPricer has amassed hundreds of customers in the last four years, mainly through word of mouth. “One customer reported a 10x increase in sales after turning on price-scraping,” Chung remembers. “Their thank you emails to us are gold.”
As for making the trip from Melbourne to Las Vegas, Chung does not hesitate. “You want to know who is behind the software that drives your business,” he muses. “Where else can you go to get the latest industry news and state-of-the art tech, meet vendors, get face-to-face demos, and network with people you know all in two days? That is a brilliant use of time.”
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