As an Amazon seller, various metrics are available to help you gauge the performance of your products. One of these is product sales data, which directly indicates how well your product is performing on Amazon. Therefore, checking and analyzing your sales metrics regularly can help you make more frequent data-driven decisions to support a positive feedback loop leading to continuous growth.
To use this information to your advantage, it’s important to understand how you can access it. In this guide, we’ll discuss everything you need to know about product sales data and how to use it to its fullest potential. Once you’ve gotten the hang of it, you can help boost your eCommerce success.
Key takeaways
- Product sales data is a wealth of information, providing insight into market trends and product demand on Amazon.
- Sellers can use sales data to choose the right product niche and to optimize their product listing.
- Third-party tools efficiently analyze data to facilitate price profiling and keyword harvesting.
- AI and machine learning play a major role in honing third-party tools for enhanced results.
Why Amazon sellers should be using product sales data
Your sales data is arguably the most relevant metric to pay attention to as a seller. To reap the benefits of this key information, consider the following reasons to use product sales data:
Making informed decisions based on historical performance
You might have a high-quality product on Amazon that has garnered positive reviews and customer feedback. However, if you don’t make a point of using sales data, there’s no way to know for sure how well your product is performing. Product sales data allows you to measure the success of your product in a more definitive, concrete way.
Product sales data also helps you evaluate the effectiveness of your product listing. If customers are visiting your product page but not making a purchase, this points to an underlying issue with your product page. Carefully analyzing your sales data can help you pinpoint what’s stopping potential buyers from purchasing the item you’re selling. This will help you make more thoughtful decisions going forward.
Understanding market trends and demand
No matter what you’re selling, staying on top of current trends can give you serious leverage in your marketing strategy. In a dynamic online marketplace like Amazon, things are in a state of constant flux. If you don’t keep up with these changes, you risk falling behind your competitors. Fortunately, Amazon product sales data gives you helpful insight into market trends and demand so you can stay ahead of the curve.
Estimating trends in the marketplace
As mentioned, keeping up with Amazon trends can set you apart from your competitors and help you stay relevant to consumers. When evaluating your product sales data, keep current trends at the forefront of your mind. Unlocking sales estimates and trends can be key to improving your sales ranking and reaching new customers who may not have discovered your product otherwise.
Various online tools allow you to search for specific products based on their monthly sales. Some even let you find the top-selling products within a certain category. Based on the types of products you see, you can glean important information about which trends are gaining the most traction on Amazon. This data is crucial to enhancing your own product listing optimization strategy.
Using sales data for product and niche selection
Another crucial part of boosting sales is choosing the right product and niche. On a highly saturated site like Amazon, it can be challenging to find buyers who are interested in what you sell. However, by selecting a niche that corresponds with your products, you can ensure that your items are in high demand. Before you attempt to achieve the right product-market fit, start by assessing your sales data.
Sales metrics tell you which product categories are in high demand and which are less crowded. If you’re a fledgling seller looking to break into the Amazon marketplace, you may want to begin by targeting a niche that isn’t overly saturated. This will give you the opportunity to boost visibility for your products and contend with less competition.
How to check Amazon product sales data
To discover all that you can do with Amazon sales data, you first need to access the right tools.
Using Amazon’s Seller Central
Seller Central is the hub of your Amazon selling account. It offers many features that let you manage different aspects of your online storefront. You can monitor sales, adjust prices, manage products, fulfill customer orders, and maintain or change account settings through Seller Central.
You can even use this hub to stay on top of current trends in your industry. Seller Central updates you on relevant news or announcements that may influence your marketing or sales decisions. If there are any business growth opportunities you need to know about, you can find out about them on Amazon Seller Central.
Third-party tools for enhanced data analysis
There are many online resources you can use to perform advanced data analysis, like a pro. With Trellis, our platform allows sellers to complete various functions to make informed decisions. One tool is our Amazon Sales Estimator, which provides insights on the sales of different products across the marketplace, which is critical information when you are starting new product research. Other tools and functions include:
Price profiling and dynamic pricing
With help from our AI-based Amazon pricing software, you can optimize your prices to maximize profits. Our advanced tool uses your historical price changes, market data to adjust your pricing in real-time. In addition, you can easily leverage this tool to support other aspects of your online storefront by clearing stagnating inventory, improving your Best Seller Rank (BSR), and building momentum for product launches.
Our dynamic pricing helps hundreds of clients with incremental profit improvements, and identifying over and underpriced products, enabling you to optimize profit margins across various categories and items.
Keyword harvesting
Keyword harvesting is the process of identifying your top-performing keywords and incorporating them into your campaigns. With Trellis’ free Amazon keyword research tool, you can measure keyword difficulty to design a better sales strategy. In addition to performing keyword research, our tool allows you to analyze search volume and get keyword cost estimates to outdo your competitors.
Once you have a better understanding of how your chosen keywords perform, you can use this information to design more compelling campaigns.
Bid management
Managing your Amazon store involves many moving pieces. That’s why it’s crucial to use third-party tools to help remove some of the pressure you may be experiencing. Data analysis tools like ours help optimize every management aspect, from finding the best price for your products to targeting the right keywords.
If you’re looking for a trusted partner to help you navigate bid management, we’re here to help. Our comprehensive tool aims to demystify the process of being a seller on Amazon.
Content analysis
The content you present on your product listing plays a crucial role in improving your conversion rate. When creating product content, your main goal should be to optimize it for organic ranking. This involves getting to know your target audience, adhering to content best practices, performing content analysis, and using tools that are designed to help you create optimized product listings faster.
Our data analysis tool gives you a complete picture of how your product content is performing. It also makes it easy to learn about your audience and optimize your content to achieve a higher Amazon ranking and subsequently increase your conversion rate.
The future of Amazon sales data and seller tools
If you’re looking to maintain a sustainable business on Amazon, it’s crucial to understand what to anticipate in the future. Here’s what you need to know about Amazon sales data and seller tools in the long run:
Amazon’s evolving data accessibility policies
To avoid unexpected consequences, it’s in your best interests to keep up with Amazon’s newest policies on data accessibility. Because these rules and guidelines are constantly evolving, you might find it challenging to access your product data reliably.
Fortunately, staying up to date with Amazon’s policies is easier than you might think. After navigating to Amazon’s data privacy page, scroll down to the first bullet point that says “Access.” This paragraph contains all the information you need to know about how to access any content you upload to Amazon under your seller account.
The integration of AI and machine learning in sales data analysis
Using data to inform artificial intelligence and machine learning is increasingly common for brands looking to profitably grow. Artificial Intelligence for Amazon sellers incorporates your sales data into the actions it takes to improve pricing, advertising, and content. Once these tools become more adept at detecting patterns in your data, they can use this information to predict the activities that will grow future sales.
Predictions on how third-party tools will adapt
As AI systems and machine learning evolve, third-party analysis tools will likely adapt to suit sellers’ needs more closely. Many of these tools already possess advanced features that enable them to analyze patterns in data and predict trends. Amazon sellers have already discovered the many benefits of these tools, like Trellis, when using them to implement and manage a campaign. With the evolution of machine learning, these third-party tools will support more effective tactics for Amazon growth.
In summary: Maximizing sales with product data
With the right tools and strategies, you can leverage product sales data to maximize your growth on Amazon. There are numerous benefits of using sales data, from choosing the right product niche to optimizing prices. Our platform leverages product sales data, among many other KPIs, to facilitate selling profitably on Amazon, from keyword harvesting to product page optimization. Interested in finding out what this could do for your storefront? Connect with us.
Frequently asked questions
Can Amazon sellers access real-time sales data?
Yes. Amazon now offers a rapid retail analytics data stream that allows sellers to view inventory and sales data in real time. This can help Amazon FBA sellers improve various aspects of their online storefront.
Are there any free tools for sales data analysis?
Yes, sellers can use a number of free tools to analyze sales data, including Trellis’ free analytics tools. These include our Amazon Sales Estimator, the Amazon Listing Analyzer, the Amazon Keyword Discovery Tool, the Amazon ACOS Calculator, the Price Elasticity Calculator, and the Amazon Competitor Analysis Tool.
How often should sellers analyze sales data?
This depends on the specific metrics you want to track and the types of sales reports you’re analyzing. Overall, the key is to create and maintain a regular schedule to ensure consistency.
What to do if sales data shows declining trends?
If your sales data shows declining trends, use available tools at your disposal to isolate the root cause, or causes. Our free tools can help identify the problem and inform you of the necessary changes to improve your sales.