Amazon Market Analytics: Best Practices, Software, & Tips [2023]

Amazon market analytics are powerful sources of information for businesses looking to gain a better understanding of their current market. 

As the world’s largest online retailer, Amazon offers immense opportunities for growth and success–but navigating Amazon requires a strategic approach. With data analysis and visualization capabilities, businesses can use Amazon market analysis to identify trends, make informed decisions, and optimize their strategies to maximize sales and profits.

Whether you are an experienced seller or just starting, this article will provide you with the fundamental knowledge and seller tools needed to thrive in the competitive world using Amazon market analytics.

What is Amazon Market Analytics?

Amazon market analytics provide data and information that you can use to improve your marketing strategy.  

Why is Amazon Market Research Important? 

Researching the Amazon marketplaces helps businesses gain valuable insights into their performance on Amazon, identify emerging trends, and make informed decisions to improve their sales and marketing strategies. 

Market analytics also helps businesses monitor customer behavior, understand their preferences, and tailor their offerings to meet their needs better. 

How to Conduct Amazon Market Analysis

Here are some important strategies to apply when conducting Amazon market analysis.

1. Identify Your Target Audience

You can determine a general target audience based on the products you’re selling, but it’s important to narrow it down as much as you can so you know how to speak to your customers. 

You can do this step manually by reviewing consumer reviews of competitors or your own products. You can get an idea of what your demographic thinks about the product you’re looking to sell, identify their pain points and concerns, and tailor your product toward their needs. 

Sellesta offers market insights that can improve and enhance your marketing approach and product listings to maximize your ROI. Monitor the behavior of your competitors across Amazon and social media channels, or use filters to analyze themes, audiences, languages, and more. Our insights also keep you up-to-date on the latest industry trends as well the strengths and weaknesses of you competitors 

Amazon’s Seller Central Page can also give you access to consumer insights, data, and your sales performance for the product sold through your Amazon Seller Central account.

2. Conduct Product Research

You can perform your own manual product research by: 

• Researching high-performing products on Amazon–particularly products with high demand but low competition. 
• Use Amazon’s SERP to see what competitor products sell best and rank first. 
• Check the best-seller list on Amazon and learn what products are currently popular with consumers. If you have a product already in mind, you can view the categories under which your product would fall. You can also check other places like Amazon storefronts, trending lists on other e-Commerce platforms, retail stores, or social media. 
• Look at what your competitors are doing. Always keep an eye on your competitors. They’re the competition. Look at their product listings, keywords and phrases, customer reviews, and anything that can help you with your search. 

This can take a long time, especially if you haven’t narrowed your niche or picked a product. To save time, you can always use technology in your search, and lucky for you, Sellesta can help! 

Our AI platform offers insights on consumers and competitors to help you build your brand and visibility and increase your sales. We offer review analyses that are able to tell what consumers are purchasing with data collected from online sites and social media channels. 

We can also provide data on the newest trends with competitors so that you can stay ahead. 

3. Conduct Customer Review Analysis

A customer review analysis is one of the best insights you can use to learn about your products, consumer, and competitors. You can also do this step manually by taking the time to read reviews left by your customers under your product listings.

So, how does it work? Well, there are multiple ways you can conduct a customer review analysis: 

• Manual Analysis: You can review what each customer said and note what they liked or disliked about the product.
• AI Analysis: Using AI technologies makes analyzing reviews as simple as pressing a button. AI can quickly and accurately identify customer trends that would take humans much longer to find.
• Sentiment Analysis: Sentiment analysis uses natural language processing (NLP) and artificial intelligence (AI) to comprehend customers’ emotions and beliefs in the reviews. This analysis mainly concentrates on the division of negative and positive reviews and if the sentences are opinion or fact.
• Review Customer Questions: Pay close attention when reading customer questions, as Amazon sellers can no longer comment on product reviews. This section is the best chance to respond to any negative customer feedback.

Another way to conduct a customer review analysis is by using Sellesta. 

With Sellesta, you can perform both a customer review analysis and a sentiment analysis with our review analysis feature!

You can look up customer reviews on Amazon for any product by sorting them by aspect and sentiment. Our AI technology used by Amazon will analyze key tags and the emotions behind them to help give you a better understanding of what customers think about your competitors’ products. 

On top of that you can also: 

• Learn more about your competitive landscape on Amazon
• Know which categories are growing and what categories you need to avoid
• Get info on what’s causing you to get good and bad reviews from consumers

And much more.

4. Perform Competitor Research

Researching your competitors is a great way to get ideas for your Amazon marketing strategy. You can perform competitor research through a review analysis. Analyzing reviews can help you identify what your competitors are doing well or where they are lacking. With this information, you can improve your products or product listings.

You can learn about: 

• New trends
• Keywords and phrases
• See how your competitors are able to attract and keep consumers 
• What their pricing is like for multiple products

 You can check the Q&A section as well to see what customers ask or are concerned about and how your competitors answer these questions. 

Doing all this manually may take a while and you’ve got a business to run, so why not use Sellesta to save you time? 

Sellesta.com can perform a customer review analysis that is able to pick up the following: 

• What do your customers like or dislike about your products
• What your customers think about your competitors
• Track your competitors’ performance and sales on a weekly or monthly basis
• Learn when a competitor starts to grow and puts your BSR at risk

With Sellesta, you can get all the data about your consumers and competitors to help you build a winning marketing strategy and boost your ROI! 

5. Calculate Costs & Pricing

You need to set a competitive price that covers its costs–and then some. If you set the price lower than you should, it may sell well, but you might not make a large profit. The same goes for setting the price too high–and then selling enough to make a profit. 

To find the right price for your product, you need to:

1. Add up all your costs variables

Some cost variables are but are not limited: 

• The unit cost for the product
• Any fulfillments feel like FBA, FBM, etc
• Your Amazon Seller account fees
• Referral fees each time you sell a product 
• Raw materials
• Taxes
• Shipping and storage fees
• Marketing fees, both online and offline

If you order the products you sell, then the total of each unit’s cost is the cost of goods sold. 

When all these factors have been added together, divide them by the number of products you plan on making to get a cost average. 

2. Find your profit margin.

When doing this, remember to consider the overall market. You must see what prices are sufficient for your product within your audience. Having products that are priced almost double your competitor’s products, it might become difficult to make any sales

3. Add in Your Fixed Costs

Your fixed costs are set in stone no matter what. These are important because you want these costs to be covered by your product sales. Always test different prices to see where your fixed costs fit in.

6. Review and Optimize Your Product Listings

Review your listing regularly to locate any sections that could use improvement or revision. 

• Check your production descriptions. Do they follow the Amazon SEO guidelines? 
• Are the product images of good quality? 
• Is your pricing competitive? 

Make sure that your product listing is clear in stating what it does and what it looks like. Keep it professional and avoid: 

• Promo
• Special characters
• Slang 
• Using more than 80 characters
• Adding in subjective phrases like “awesome” or “amazing” 
• Spelling out numerals
• Blurry product images

Furthermore, optimize your product listings by researching and incorporating relevant keywords. This will improve search engine visibility and attract more potential customers. You can do this through keyword research or with Sellesta!

Sellesta can help you make the perfect Amazon product listings with our listing optimizer. Search and choose relevant keywords, and we’ll incorporate them into your listings for better performance in the SERP. Our AI will optimize your titles, keywords, and bullets for you; all you have to do is click the “Publish” button to instantly have your newly optimized listing on Amazon.

Optimize your listing with Sellesta!

7. Use Amazon Market Insight Software

You might have noticed a trend in all these steps: the right software tools make it much easier to analyze the Amazon market, customer sentiment, and profitable products. 

With the help of this software, you can easily identify new opportunities and make informed decisions on pricing, product offerings, and promotional campaigns. 

Best Tools for Amazon Market Analytics 

What are some of the best software for Amazon market analytics? Let’s take a look.

1. Sellesta.com

Sellesta.com helps sellers on Amazon improve their storefront or business with better ads and product listings. Users can access data and insights about their competitors, including their strengths and weaknesses, what consumers think of them, the keywords they use in their product listings, and more. Sellesta also notifies sellers whenever there’s a new competitor on the rise, fast-growing categories, and competitor stock updates. 

But that’s not all! 

At Sellesta, we offer our one-of-a-kind AI to find and generate keywords, titles for your product listings and copy for your product descriptions in seconds. The app finds top keywords to optimize listings and users can publish those performance enhancers in one click. It also generates a quality score and a checklist of Amazon’s best practices–and highlights missing indicators to ensure you have the best listing possible.  

Features: 

• Keyword research and generation 
• Daily keyword tracking and ranking 
• AI-generated, SEO driven copy to optimize backend keywords, titles, bullets, listings, etc
• Review analyses on competitor behavior and sentiment on Amazon and social media
• Analyze customer feedback on the internet and social media 
• Provides brand maps of you and your competitors
• AI-powered widget made strictly for e-Commerce website to increase sales

Pricing: 

• Free: 
  • One product analysis
  • Keyword research
  • Review analysis
  • Listing optimization tools
• Basic: $14 per month
  • Includes everything from the Free Plan 
  • 25 daily keyword search 
  • Five product optimizations
  • Import Amazon products in one click 
• Pro: $39 per month
  • Everything included in the Basic Plan
  • Unlimited keyword searches
  • Unlimited product optimizations
  • Unlimited publishing on Amazon

2. Repricer

Repricer is a repricing platform that specializes in e-commerce platforms Amazon and eBay. The platform aims to help users sell more and maximize their profits. Users can use data, sales, and price history to reprice products and improve their chances of winning Amazon Buy Boxes. Repricer doesn’t offer users any tools to optimize listings, only for pricing. 

Features: 

• Manage large volumes of inventory
• Offer a repricing strategy templates
• Get insight on competitors that are performing better than you, their fulfillment methods, and selling prices
• Flag underperforming SKUs
• Can sync pricing strategies to ebay, Magento, Walmart, Shopify, and more
• Automatically update pricing in real time across channels

Pricing: 

• Express: $85/month per account annually, or $105 billed monthly
  • Amazon repricing 
  • eBay repricing 
  • Sales-based repricing 
  • Repricing reports
  • Maximum of 3 channels
  • 150 EPMs
  • Maximum of 5,000 listings
• Plus: $259/month per account annually, or $309 billed monthly 
  • All Express Plan features
  • Instant repricing
  • AI Buy Box Chaser
  • AI Buy Box Optimizer
  • Maximum of 50,000 listings
  • Suppressed Buy Box
  • 7-day event tracking 
  • 7-day competitor tracking
  • 300 EPMs
• Ultimate: $409/month per account annually, or $509 billed monthly
  • Multichannel repricing
  • Net margin repricing
  • Maximum of 250,000 listings
  • Dedicated account manager
  • API automated imports and reports
  • Custom repricing reports
  • Amazon Buy Box Predictor
  • Profitability dashboard
  • 30-day event tracking and competitor tracking
• Extreme: $1249/month per account annually, or $1549 billed monthly
  • All Ultimate features
  • Priority repricing
  • Maximum of 1 million listings
  • Custom development time 
  • 2,400 EPMs
  • Price management for Shopify, WooCommerce, BigCommerce, Magento, and PrestaShop
  • Help guide 
  • Phone support
  • Marketplace price management for Walmart, Mirakl, NewEgg, Sears, Fnac, and Allegro

3. AMZ Tracker

AMZ Tracker is a platform that provides services to help improve Amazon storefronts. It sends notifications about negative reviews and account performance so that users can boost their ranking with super URLs. Additionally, AMZ Tracker offers keyword tracking to show users where their products rank compared to their competitors.

Features: 

• Keyword tracking 
• Super URLs
• Receive alerts for negative reviews
• Get alerted whenever a seller tries to hijack your product listings
• Get an account report
• On-page analyzer that identifies problems in your listings
• Sales tracking

Pricing: 

• Basic: 450 monthly/ $41.70 yearly
  • 110 keywords
  • 50 products
  • Unlimited email reports
  • On page analyzer
  • Super URLs
  • 100 Rocket Reply-Emails
  • 50 Sales tracking 
  • 50 negative review products
  • One Rocket Reply-AMZ Account
• Professional: $100 monthly/ $83.30 yearly
  • 500 keywords
  • 100 products
  • Unlimited email reports
  • On-page analyzer
  • Super URLs
  • Three marketplace Vipon Promotional Products
  • 1000 Rocket Reply-Email Sends
  • 2 Rocket Reply-AMZ Accounts
  • 100 sales tracking 
  • 100 negative review products
• God Mode: $200 monthly/ $166.70 yearly
  • 1500 keywords
  • 200 products
  • Unlimited email reports
  • On page analyzer
  • Super URLs
  • 12 marketplace Vipon Promotional Products
  • 3000 Rocket Reply-Email Sends
  • 2 Rocket Reply-AMZ Accounts
  • 200 sales tracking 
  • 200 negative review products
• Legend: $400 monthly/ $333.30 yearly
  • 3000 keywords
  • 400 products
  • Unlimited email reports
  • On page analyzer
  • Super URLs
  • 50 marketplace coupon Promotional Products
  • 10,000 Rocket Reply-Emails Sends
  • 4 Rocket Reply-AMZ Accounts
  • 400 sales tracking 
  • 400 negative review products

Make Amazon Market Analytics Simple 

If you want to stay ahead of the curve and beat your Amazon seller competitors, you need to use Amazon market analytics. The more you know about your consumers and competitors, the easier it is to tailor your product, product listings, and marketing to get the results. One of the ways you can do this is with a good Amazon market insight software, and we happen to know a good one! 

Sellesta is dedicated to helping you revamp and build the perfect Amazon product listing that adheres to Amazon’s SEO guidelines, attracts consumers, and gets you ranking in the search results. Attract new consumers with AI-generated keywords and copy, or spy on your competitors with our review analysis feature. 

Get all the data and insights you need to increase your conversions, visibility, and sales in no time with Sellesta.