In addition to data analysis of product selection software, the most direct way to select products is to select products based on Amazon’s rankings. Amazon has five main rankings: Best Sellers, New Releases, Movers & Shakers, Most Wish For, and Gift Ideas.
Best Sellers
Amazon officials have not disclosed how the best seller rankings are calculated, but there are obvious factors that determine sales rankings, mainly sales volume, competing products, current and historical sales, product price changes, conversions, and promotions. Among these factors, the biggest influence on sales rankings is the current sales volume of the product. If the product is promoted and displayed on the Amazon homepage, the product will gain more sales and the product ranking will soar. From sales volume, you can determine which products are hot-selling models on the market, or which products are the most used by consumers.
New Releases
The new product list can reflect the sales of new products in the current market. This list is for products that have just been launched. If the sales and conversion of a product perform well or rise rapidly, Amazon will recommend the link of the product and rank the new products. It conveys to consumers that this product will be popular. Sellers can find trends through this list.
Movers & Shakers
In the Movers & Shakers list, there is a green arrow next to each product. It shows that the product is on an upward trend, and the data to the right of the green arrow represents the speed of the rise, which is very useful. In order to keep abreast of the latest developments in the niche market, sellers can focus on the Movers & Shakers list under this category, which shows any products that have changed dramatically in the ranking in the past 24 hours. Sellers may not see those products that are gradually climbing in sales rankings in this list, but this tool is very useful for discovering the latest popular and trending products in the seller’s niche.
Most Wish For
Amazon provides buyers with a function to create a “wish list” of products that buyers are willing to buy. In the weeks before the holiday, Amazon can send these wish lists to buyers’ friends and family via email.
Amazon records the products that consumers want on the website for sellers to view in list form. There are many reasons why an item appears on the wish list. Maybe the current price is a bit expensive for the buyer. Maybe it is not needed now but will be needed in the future. However, this information is very valuable to sellers because sellers may be able to offer similar products at a lower price or get better product solutions in product development.
Gift Ideas
Amazon records all items purchased as gifts and filters this information into a new list, which sellers can then use to research product development. During the holidays, sellers can see the types of products that buyers buy for their loved ones or friends, which is worth paying attention to. This list is a good reference for sellers to understand the idea of putting different product packages together. If a seller sells health and beauty products and sees that a specific cosmetics set in stock is often given away, then consider bundling the two together to make a specific gift set.
The above five lists are not unfamiliar to Amazon sellers, but they should be analyzed in detail. Most sellers may lack the time and patience for in-depth analysis. In fact, these five lists are better than any selection software, especially for sellers in vertical categories. Familiarity with the five major lists is the magic weapon for Amazon selection.