How Does Your Houseware Brand Stack Up Against Amazon FastMover trends?
If you’ve ever wondered about the category dynamics for housewares products on Amazon, you’re not alone. But to begin cracking the Amazon code for product success means having the right performance data to assess what’s working. Hubba friend, Profitero, is a global provider of eCommerce intelligence for retailers and brands and monitors best sellers lists in the US (more than 4.9 million products) and the UK (more than 2.1 million products) daily. They analyze product performance over time to produce a cumulative ranking of best-selling products called Amazon FastMovers (i.e., the 100 top performing items). Personally, I love these reports. Analytics are hard to come by and usually require a lot of work to analyze for a few tangible nuggets. The Profitero FastMover reports are just that: fast moving analytics, easy to read, digest and act upon.
Amazon FastMovers 101: What is it and why brands and retailers should care
FastMovers are a great way to get a snapshot of the marketing tactics your competitors are employing in your category. The data reveals benchmarks in the following key impact areas: Product Attributes, Pricing, Stability and Programs. They help you identify strong-selling new products in your category, benchmark high-performing products (based on pricing, pack configuration and ratings) and assess the sales opportunity of Amazon programs such as Subscribe & Save and Prime. Here’s are some of the key takeaways that stand out to me from the data revealed in the US Small Appliance Report:
1. Keep on your toes or someone will out-promote you!
This is a volatile pricing category at 25 price changes in a month, with an average delta of $5 changes.
2. Consumers are active in this category!
Small appliances average 2,714 reviews with an 4.4 average product rating with electronics being the most popular at 10,000+ reviews per month. This suggests that small appliance consumers are very involved purchasers who do their research and will take the time to leave reviews for other shoppers. If you have a good product, consumers will rate you well, and hopefully give you an endorsement.
3. Content must include great images
Average number of images per product is five and the top 10 items in this category have an average of eight images each. This tells us you need to make sure you have the right images; consumers are looking for reassurance that your product offers what they’re looking for.
4. Fast movers are not just about “the big picture”
You need to know where you stand, and that happens when you can see individual performers and how they rank. The top 100 is just that – there are 100 top performing products that you can compare to, contrast to and aspire to outperform.
Profitero kindly provided us with the following four reports but head on over to the Profitero.com website for more.