As an e-commerce seller selling in multiple countries, we know that inventory management can be a challenge. You need to make sure that you have the right products in stock, in the right quantities, and at the right prices in each country you sell in, as ultimately you are here to make a profit and not a loss!
A SKU report can help you do all of that and more.
What is a SKU report?
A Stock Keeping Unit (SKU) report is a document that lists all of your products, along with their SKU numbers, quantities, prices, selling fees and other relevant data.
From the report you will be able to identify the low performing SKUs that might be costing you money, but also the individual high performing SKUs where you are making a healthy margin.
Why is a SKU report important for an international e-commerce seller such as yourself?
The report can provide you with a wealth of information about your global operations, including:
A breakdown of margins and retailing prices of each product in each country
These figures can help you track your costs and ensure that you’re pricing your products competitively in each country.
The sales history of each product in each country
This information can help you identify your best-selling products in each country and make decisions about your product assortment and how you specifically market the product.
The profitability of each product in each country
This information can help you make decisions about which products to keep in stock in each country and which products to discontinue.
How to use a SKU report to improve your global selling:
There are many ways to use a SKU report to identify areas of improvement in: pricing, product selection and advertising. Here are a few ideas:
Identify slow-moving products in each country
A SKU report can help you identify products that are not selling well in each country. This information can help you make decisions about whether to discontinue those products in that country, reduce their prices, or promote them more heavily.
Making informed decisions about your product assortment in each country
The report can help you track the sales history of your products in each country and identify which products are your best sellers. This information can help you make informed decisions about your product assortment in each country, such as which products to add or remove – this may come down to culturally reasons.
Tracking your costs and ensuring that you’re pricing your products competitively in market
A SKU report can help you track the costs of your products in each country and ensure that you’re pricing them competitively in that country. This data is essential for ensuring that you are maximising your profits from each market.
A SKU report is a valuable tool for you to utilise, especially if you’re operating cross multiple countries. It can help you track your inventory, identify slow-moving products, and make informed decisions about your product assortment in each country.
If you’re not already using a SKU report on a bimonthly cycle, I encourage you to start using one today.
It could help you boost your profits in each country you sell in!