In this article, I will show you How my Virtual Assistants Calculate Listing Sales
As you grow your Amazon business, it is essential to know how many sales per month a product is selling on Amazon. This is to better understand the buying preferences of your consumers. Not only that, but it will give you a good estimate of how well a product is doing and know that if you sell that product, you will earn a profit. If you struggle with knowing the monthly sales figures of each Amazon product, don't worry, you are not alone. All sellers go through this phase and this will be one place in which you can learn how. Let's dive as we share the techniques our Virtual Assistants do and unravel the mysteries behind calculating listing sales.
Why document this?
As we outsource most of our processes to Virtual Assistants, this is one task they do: the art of sourcing and documentation. Since they source products for our Amazon business, knowing the estimate of a product's monthly sale is important. They not only document but this process will allow us to see what was working and better analyze the best step. We preserve each document as it clarifies the now but also shows the potential for what your business can become.
Method 1: Calculator Tool (SAS)
This calculator tool called SAS or SellerAmp is an incredible tool that shows sales statistics for individual listings. Including eligibility, profitability, and competition. Our VAs use this tool in their process to evaluate if the product is profitable. The sales per month of a specific product in Amazon's listing are seen on this tool, as shown above.
Method 2: The "Drops Method" (Keepa)
Now, is another tool that we recommend you use; Keepa. A tool that compiles all data from Amazon and shows it to you in a graph. This is a Google Chrome extension that you can add that takes efficiency to another level. The in-depth graph shows you the buy box price, sales rank, price variations, monthly sales volume, and the number of Amazon sellers that are on the listing. I recommend this tool for a lot of purposes, BUT I only recommend this for slow-selling items because of inaccuracy in showing the sales per month.
Method 3: Counting Reviews (Keepa)
Another method using the Keepa tool. You can also check the Review Count of the customers using this tool. Typically, each review represents between 50-200 sales. For example, a change from 261 to 273 reviews over 3 months implies that between those months, approximately 200 sales happened.
Let's dive deeper
If you assume each review equates to 50 sales, then 12 reviews show 699 sales. Now, divide that into 3 months and you'll get 200 sales per month. This method is not my favorite, but it can help.
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Method 4: My Favorite - "Offers" Tab (Prime Option)
For the last method, we are still using Keepa.
Step 1: Click the Data tab
Step 2: Choose Offers under the Data tab
Step 3: Tick the Prime box
Step 4: Make sure the Condition is “New”
Step 5: Check “Include historical offers”
Examine stock history
To make things easier for you to understand. Here is an instance, from July 1 to August 1. Inventory drops from 352 to 236, suggesting that the product is selling fast, with approximately 94 units sold in 1 month.
Which one to use?
Selecting a particular approach might require time, as testing is necessary. Your success might differ from mine. Identify the technique that aligns best with your Amazon business requirements. You can use Keepa at no cost until a subscription seems necessary. Similarly, take advantage of SAS's free trial.
To know more about this amazing tool that is Keepa, you can click here.