How reliable are AMZ Insight’s sales projections? That’s something we hear a lot from our users, especially the new ones. First and foremost, anyone who is not a member of Amazon’s data team will not be able to obtain these critical figures. As a result, we at AMZ Insight have tracked hundreds of products across all categories to compile vast data. Our full-time data scientist then evaluates the Tool Estimate Sales data to create the sales estimation algorithm.
BSR history on Amazon, Hundreds of items from each category were purchased, reviewed, and other data were collected for study. We can create a relationship between BSR, reviews, and unit sales using a variety of data analysis methodologies. Once we have this relationship in place, estimating monthly Amazon sales and revenue for the product becomes a lot easier. Furthermore, our highly skilled software engineers convert the results of data analysis into code, which we subsequently display in numbers. With the help of our Amazon Spy tool, you can keep track of your competitors’ actual monthly predicted sales.
The Sales and Bestseller Rank Relationship
It’s critical to comprehend the relationship between sales and the Amazon Bestseller Rank. This is simple; as a rule of thumb, the items with the most significant sales will have the lowest BSR, while those with the minor sales will have the highest BSR. As a seller, you may already be aware that BSR 1 is the highest rank in any category and that an increase in this number indicates a lower level. Similarly, a stable sales rank is ensured by regular sales. The majority of Amazon’s algorithm for calculating sales rank is dependent on the number of sales of a specific item.
As a result, sales rank and sales are intertwined, creating a chicken-and-egg dilemma for new vendors. You’ll need to ramp up your marketing activities to get out of this. Run Amazon advertisements to boost traffic and sales to your listing to take advantage of the situation where sales and sales rank will support each other.
How precise are sales forecasts?
Except for a few exceptions, Amazon’s anticipated sales are remarkably accurate in the vast majority of circumstances. As you may be aware, we obtain a strewn graph from our collected data points, with estimations for a specific period. As a result, if a product sells a particular number of units in a given period, it is more likely to sell similarly in the future. However, if there was a large Amazon special going at the time, it is unlikely to continue selling at that rate; therefore, our sales predictions for that item may appear to be a little high.
Selling on Amazon can earn you a lot of money. However, your success on the platform is highly dependent on the things you sell and the level of competition. Amazon gives you access to the majority of the world’s market if you can figure out how to produce enough things that people want at a reasonable price. Not to mention the delicate art of delivering items around the world in these Covid affected times, with a few foreign flights and international shipping timetables in shambles.
No one can claim that the sales figures for the products are 100% accurate, but we do claim that the estimations are up to 90% accurate. Knowing how much money your competitors are making allows you to focus on countering their plan. It may also assist you in determining the best-selling Amazon products in your preferred niches. So, maintain track of your competitors’ sales with these crucial figures and design your business strategy accordingly.