Amazon has 1.9 million active eCommerce merchants worldwide selling millions and millions of items, which means competition is intense.
A bit of healthy competition is good, right? Well, not if you’re a seller on Amazon. That’s because you’re losing customers and sales if a competitor’s product ranks above your product.
As a Fulfilled by Amazon seller, it’s critical that you understand the importance of your Amazon sales rank and how it can help or hurt your business. The Amazon sales rank lets you compare the sales of a product with other products in the same category — every product that is part of a category has a sales rank.
The Amazon best sellers rank (BSR), or your product’s rank relative to all the other products in a specific category, is a good indicator of how well a particular product will sell on Amazon. For example, if your BSR is seven, your product is ranked number seven, which means there are six products in the category that have a higher sales velocity than your product. However, if your product is selling well, it should be ranked fifth in its category.
So, if you want to be successful, you need to increase your sales, and one way to do that is by using an Amazon sales estimator.
What Is an Amazon Sales Estimator?
Estimating the Amazon sales history for any given product can be difficult as it takes time and resources. And since Amazon doesn’t release any information on sales volume, you need a third-party tool to provide sales estimates and Amazon sales rank history.
An Amazon sales estimator, also known as an Amazon sales rank tracker, aggregates relevant data from Amazon’s marketplaces and analyzes it to produce valuable information so you can make faster and more informed business decisions.
Each product in different categories has a different ranking that helps buyers understand how popular and reliable a product is and enables sellers to understand the market better to help them identify opportunities and make adjustments to their businesses accordingly.
Put simply, the best Amazon sales estimators provide insights on the monthly sales volume, i.e., units sold and the gross merchandise volume, i.e., the total amount of sales a company makes over a specified period of time, typically measured quarterly or annually, for any product on Amazon’s marketplaces. Amazon estimated sales enable you make smarter decisions that increase sales and reduce risks.
How an Amazon Sales Estimator Can Help You Sell More
If you’re a Fulfilled by Amazon seller, you must have at least one Amazon sales estimator to find the Amazon sales rank history.
With an Amazon sales estimator, you can monitor your competitors’ performance because it shows you how many units they sell on average, and it can help you figure out how many units you need to sell to be the market leader.
One of the most important pieces of data you will need to have is an accurate estimation of sales data because it helps you understand how much inventory you should buy, at what intervals, and how much profit you can make from a particular product.
By integrating product sales signals from numerous data providers, including real-time transactional data, you can cross-reference open-source information with proprietary insights to estimate product sales. Using actual transactional data, the best Amazon sales estimators continually refine their mathematical models and algorithms and validate estimates with concrete information.
This lets you make better sourcing decisions by understanding the market for every product you’re being offered; find out what products are popular overseas; reduce the risk associated with expanding internationally; and increase your sales volume by analyzing your competition and optimizing your pricing strategy.
It’s important that throughout your seller journey on Amazon you keep up to date with recent market developments on Amazon’s marketplaces, keep an eye on your competitors, and assess new market opportunities.
Although these tasks used to be tedious and time consuming, an Amazon sales estimator makes it easy for Amazon sellers to complete tasks with its data-driven competition insights on Amazon marketplaces across the globe. This lets your employees focus on more important tasks and enables you to assess new market opportunities, and ultimately increase sales.