Data in focus: A look at SellerApp’s Product Trends
Amazon product research is a protracted process. It requires reliable data spread over weeks to ensure consistent demand. Monitoring multiple products over weeks is tedious. You can simplify the process by using SellerApp’s Product Trends feature.
Let’s take a look at how you can leverage Product Trends to get a holistic understanding of a listing on Amazon.
Getting started with product trends
Before you can access product trends, you need to track a listing using SellerApp. Here’s how you do it:
- Log in to the SellerApp dashboard and click on Add Product
- Enter the ASIN or product page URL
- Click Track Product
After you track a listing, you can access historical data associated with the ASIN.
- Select Product Intelligence and navigate to the Overview section
- You may need to scroll down to view Product Trends
It will let you analyze the performance of a listing over a designated period. You can set the range using the Select Date Range option on the top-right (as seen in the image).
With Product Trends, you get historical data for the following metrics:
- BSR: The best seller rank of a listing. A better rank signals higher demand and sales. For instance, a product with BSR 500 has more sales than one with 5000 in the same category.
- Price: The listed price of the product as seen on the Buy Box. Understand product price trends allows you to estimate your margins when selling the product.
- Orders: Number of orders placed for the product. A high number of orders is an indication of good demand.
- Revenue: The total revenue from all the recorded sales. Just like orders, the higher the revenue, the better.
- Offers: Number of active sellers who have listed the product for sale. The larger the number, the higher the competition.
Pro tip: A large fluctuation in values generally means inconsistent demand and sales. This could be due to seasonality or changing consumer behavior. Keep a broad date range to ensure that you get a clear picture!
How to leverage Product Trends
Product Trends brings data to your doorsteps. The question is, how can you utilize this data to make effective decisions?
One obvious utility is product research. You can use the detailed Product Trends graph to analyze whether demand is year-round or seasonal. You can also gauge the competition and estimate your margins.
That’s not all! Price fluctuations tell you a lot more than just your margins. You can track the product’s price to check whether the listing is prone to price wars. Sudden dips in a product’s price are a cause for concern – especially when it doesn’t coincide with a shopping season. It either means a price war or a hijacker.
Pro tip: If you are monitoring your listing, you should also set up alerts. This will help you stay informed if there are any changes to the status quo. You can learn more here: How to set up business alerts
In either case, it is usually better to avoid selling the product. Constantly being forced to reduce your prices will eat into your margins. If winning the Buy Box is based on aggressive price wars, it may be better to avoid the hassle. If possible, modify the product to cover its faults. Differentiating your product is often the better way to sell online.
Want to consistently win the Buy Box? Read our comprehensive guide to learn how: Buy Box strategies
How to use the SellerApp Chrome Extension
The same features mentioned above are available on the SellerApp Chrome extension. If you have the tool installed, you can get the data you need while still browsing Amazon!
Here’s how you get started:
- Install the Chrome extension and sign in with your SellerApp account
- Open the extension while on the Amazon product page
- Click Track Product and wait for SellerApp to extract the necessary data
- Select Historical Data to view product trends for the last 30 days
After you analyze the data and zero in on a product, you need to think about sourcing and SEO. To learn more about how SellerApp can help you with these functions, check out the following guides.
Product sourcing: Feature overview