August 10, 2023, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on iPower, Inc. (NASDAQ: IPW) titled, “Building a Dynamic E-Commerce Home and Commercial Goods Business Leveraging Data Analytics”. The report can be accessed here.
iPower is an e-commerce platform that designs, sources, and markets various home and commercial goods, using data analytics to optimize every step of its business. iPower’s main product categories are home goods (fans, shelving systems, furniture, etc.), garden and in-home farming, pet products, and wellbeing. The company systematically researches its current and adjacent markets for product opportunities focusing on consumer reviews, likes and dislikes, desired features, and pricing information. iPower has developed algorithms to monitor sales and keyword volumes in its product categories to identify unmet consumer needs and new product opportunities.
iPower has grown organically at a strong rate, with revenues going from $22.8 million in FY19 (June) to an expected $87.0 million in FY23. iPower sells its products through online marketplaces, with Amazon being its most important partner. Most of iPower products sold on Amazon are sold through Amazon’s Vendor Central platform.
Responding to strong market demand, iPower has recently launched its Business Service Suite, whereby iPower will offer its extensive experience, know-how, and industry relations on the sourcing and consumer facing side of its business to other product companies seeking help in marketing their products in the markets that iPower operates in. The company has just announced its first formal engagement for such services and is in discussions with several other potential clients.
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