How to determine the market shares you have on Amazon isn’t as easy as analyzing your sales growth against total market growth.
If you know the product’s ranking in sales it is possible to apply an easy formula to estimate your sales, however, it’s not possible to estimate the percentage of your sales on Amazon just by looking at it that way.
The numbers for e-commerce are usually determined by the top-ranked products for instance. Additionally, Amazon keeps their data tight to the vest.
Ecommerce and Amazon specifically has seen substantial growth in sales year after year. The number of sales have reached as high as 16% between 2016 and 2017 in categories such as books, clothing and consumer electronic products. The trend is toward a steady upward direction.
The process of calculating your share of the marketplace in Amazon isn’t as easy as comparing the growth in your sales versus market growth.
If you are aware of the sales rank of a product or ranking, you can apply an easy formula to estimate the amount of sales you’ve made, but you’re not able to estimate your share of the marketplace on Amazon just by looking at the numbers.
Ecommerce figures are typically determined by the most popular items for one reason. Furthermore, Amazon keeps their information tight to the vest.
Ecommerce and Amazon specifically has experienced an increase in market share year after year. The figures can be as high as 16% between 2016 and 2017 for categories like books, clothing and consumer electronic items. And the trend is toward a steady upward direction.
If you’re involved in e-commerce it is likely that you are to see sales increase regardless of what you’ve done to stimulate it.
It is possible to see a high up to 10% increase just by adding new items to your product line.
Even though the inventory is the same it is possible to see this due to the fact that the total market share of Amazon has increased; i.e. because more people shop online each year.
So how, then, do you measure your comparative success?
To get a better picture of your market share Amazon is actually or any other e-commerce platform to be precise – you’ll need to follow some additional steps.
It is important to know the performance of your products each year, in relation with other sellers and the online marketplace in general.
This is a way of assessing your percentage of market shares on Amazon in terms of category and item and also over time.
Then, you can begin to understand where you are and, most importantly, you can begin to implement the correct strategies to compete in the market effectively.
Get the sales numbers for your categories and products.
There are a variety of tools and resources that can be used to determine how much sales are worth within particular areas on Amazon. For instance, Amazon’s Sales Estimator offers information on the average sales for each category.
It is important to note that these tools are helpful when you know the sales rank of your product that you must know to be able to calculate accurately.
Making use of a program like SellerApp’s Amazon Sales Estimator, which provides you with information on estimates of sales for the product – may provide different outcomes.
When you’ve got the results in each category, you’ll be able to determine the number of specific products. (Obviously not all products within a specific category perform on the same degree.)
Utilize Amazon the search rank as well as conversion statistics and conduct a search on Amazon to determine this
These tools, along with other ones, can provide you with accurate estimates of the growth potential an industry will see in the coming year.
The top analysis firms offer comparable data, so you will have more data at one time. Use these numbers to put them with those you have calculated from your initial step.
Take a look at Amazon’s market share per category across a number of years prior to the present year. Different reports can give you somewhat different results, so it’s important to determine which sources are most reliable. Then, take them all together.
It is essential to, of course, be focused on the categories which you are selling in. However, you shouldn’t avoid any that have positive figures.
It is worth looking at these categories and items to determine what you can include in your inventory to increase your share of the market on Amazon.
Once you’ve got your total Amazon averages, you can put them alongside the data in the second step because now it’s time to determine how you compare.
With the data available to you, estimate the actual sales you make through Amazon in each category you sell in, for the same years you have collected data for Amazon all-around.
Remember to take into account any numbers that are attributable to any third-party seller that you may have associated with your company’s name.
Because conversions are of prime importance when it comes to Amazon You can make use of the comparative sales feature as well as organic search ranks to improve the accuracy of your numbers. This is crucial as significant third-party sales could affect your results.
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