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- Side Hustle Selling #007 - Understanding Best Sellers Rank
Side Hustle Selling #007 - Understanding Best Sellers Rank
If you've ever shopped on Amazon, you might have come across the term "Best Sellers Rank" or BSR. But what exactly is BSR, and why does it matter? Let's dive into this essential metric that plays a crucial role in the world's largest online marketplace.
Understanding Amazon BSR
BSR is like a popularity contest for products on Amazon. There are millions of products on Amazon. Have you ever thought how some of the items you are searching for shows up on Amazon, or what are the products that are top sellers? This is the BSR! It's a ranking system that shows how well a product is selling compared to others in its category. The lower the BSR number, the better the product is selling. For example, a product with a BSR of #1 is the best-selling product in its category, while a product with a BSR of #100,000 is selling less than those with lower numbers.
Why Does BSR Matter?
BSR matters because it provides valuable insights into a product's performance and market demand. For both sellers and shoppers, BSR serves as a quick indicator of a product's popularity and sales potential. Shoppers often use BSR to gauge the credibility and quality of a product before making a purchase decision. For sellers, monitoring BSR helps assess their product's competitiveness, identify trends, and make informed decisions about pricing, marketing, and inventory management.
How BSR is Used
Amazon calculates BSR based on recent sales data, updating the rankings hourly for each product category. While the exact algorithm remains a mystery, factors such as sales velocity, historical sales, and customer reviews likely influence a product's BSR. Sellers can track their product's BSR in real-time through their Seller Central dashboard or using third-party tools.
Some Ways to Improve a Product's BSR
Boosting a product's BSR requires a combination of effective marketing, competitive pricing, and exceptional customer service. Here are some strategies to help improve your product's BSR on Amazon:
Optimize Product Listings: Create compelling product titles, detailed descriptions, and high-quality images to attract potential buyers and improve conversion rates.
Keyword Optimization: Use relevant keywords in your product titles, bullet points, and descriptions to improve search visibility and attract organic traffic.
Promotional Campaigns: Run promotions, discounts, or limited-time offers to stimulate sales and increase product visibility. Amazon's Deals and Coupons programs can help showcase your product to a broader audience.
Solicit Reviews: Encourage satisfied customers to leave positive reviews and ratings for your product. Positive reviews not only enhance credibility but also influence purchasing decisions.
Offer Prime Shipping: Enroll your product in Amazon's Fulfilled by Amazon (FBA) program to offer fast and reliable shipping options to customers. Products with Prime eligibility often receive higher visibility and conversion rates.
Monitor Competitors: Keep an eye on competing products in your category and adjust your pricing, promotions, and marketing strategies accordingly to stay competitive.
Maintain Inventory Levels: Ensure sufficient inventory levels to prevent stockouts and maintain consistent sales momentum. Running out of stock can negatively impact your BSR and ranking position.
Amazon Best Sellers Rank (BSR) is a vital metric that reflects a product's sales performance and market competitiveness on the platform. By understanding BSR and implementing effective strategies to improve it, sellers can enhance their product's visibility, attract more customers, and ultimately increase sales on Amazon's marketplace.
Winning Product of the Week
ASIN: B077BVB7K1
Title: Trojan Extended Pleasure Lubricated Condoms, 3ct
Platform: Amazon
Cost: .55
Selling Price: 6.99
Margin: 37% / $2.59ea
Tip or Trick of the Week
Today’s tip is to try and keep track of your inventory levels and replenish stock in a timely manner to avoid stockouts. It’s a balance to manage inventory effectively to forecast demand, optimize stocking levels, and prevent overstocking or understocking.
Q&A
This week, we got the question:
“When sourcing products is there a BSR you should be aiming for?”
Good Question from subscriber, John.
In broad terms, an ideal BSR typically falls within the range of 1 to 10,000. However, certain product categories experience higher demand, leading to contrasting daily sales figures for products with similar BSRs.
For example, a product with a BSR of 1,000 in one category might yield vastly different daily sales compared to the same BSR in another category.
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