Precision of Product Matching Technology & Price Comparison of Local Versus Amazon – Sudbury
Prepared by: One Red Maple
Executive Summary
Independently owned local stores are typically viewed as more expensive than non-local multinational corporations like Amazon. As an assessment, One Red Maple amassed a sample size of 384 products from the Sudbury online local product population of 66,000. This sample size provides a 95% confidence interval for the precision testing of One Red Maple’s product matching technology, as well as for the local versus Amazon price comparison. Upon examining the 384 identical products discovered both locally and on Amazon, the following results were obtained:
- One Red Maple’s algorithm yielded a product match in the top five results 69% of the time.
- Local was less expensive 64% of the time, and on average, 6% cheaper.
- When Amazon was more expensive, on average Amazon was 51% more expensive than the exact local product found on One Red Maple.
- When local was the more expensive option, on average it was 14% more expensive than Amazon.
- If all 384 products were purchased locally and on Amazon, shopping locally would save the consumer $4,065.01.
- If all 384 products were purchased in an optimized manner selecting the least expensive option between One Red Maple and Amazon, a shopper would save $9,313.96, or 13% of their money.
Table of Contents
Executive Summary ………………………………………………………………………………………………………………………. i Introduction ……………………………………………………………………………………………………………………………….. 1 Methodology………………………………………………………………………………………………………………………………. 2 Results & Discussion ……………………………………………………………………………………………………………………. 3
One Red Maple Product Matching Technology…………………………………………………………………………….. 3 One Red Maple vs. Amazon Price Comparison …………………………………………………………………………….. 4 Optimized Spending …………………………………………………………………………………………………………………. 6
Conclusions & Future Work ………………………………………………………………………………………………………….. 7