ARA Premium Vendor Tool
The ARA Premium Vendor Tool is a software solution that aids retailers in enhancing their sales strategies. It provides retailers with the tools they need to market and sell their products. Moreover, retailers have access to research data concerning prices, sales, and consumer behaviour. This allows retailers to gain more insight into their customer base and tailor their sales strategies accordingly.
Amazon Retail Analytics, also known as ARA, is a potent tool that assists Amazon sellers in analysing and improving their sales performance on Amazon. ARA delivers profound insights into the performance of products sold on Amazon, helping sellers to identify trends, analyse competitors and optimise their offers accordingly. This article will provide a detailed overview of what ARA is and how sellers can gain access to it.
How to Access ARA?
There are a number of prerequisites that sellers must fulfil in order to gain access to ARA. First and foremost, they must possess a professional Amazon seller account, which in some countries also requires a VAT registration. Moreover, sellers must have been active on Amazon for at least a year and achieve a minimum sales threshold. Once all conditions are met, sellers can apply for access to ARA. Approval usually comes within a few days in most cases. However, it’s important to know that ARA is only available for a selected group of product categories and that sellers must pay a monthly fee for this service.
Key Metrics in the Tool
Amazon sellers can better understand and optimise their performance on Amazon by utilising the multitude of metrics that ARA provides. The most important figures are:
Revenue: This is the total revenue an Amazon seller generates. This metric provides sellers with an overview of how well their products perform on Amazon
Sales Numbers: This metric displays the quantity of units sold. Using this metric, sellers can gauge how well their products are received by customers and manage demand.
The conversion rate measures the proportion of website visitors who actually make a purchase compared to those who just visit the product page. The more visitors that convert into buyers, the higher the conversion rate. Sellers can use this metric to enhance their product pages and persuade customers to make a purchase.
Average Selling Price: This figure indicates the average selling price per unit. This metric can be used to ascertain competitiveness and optimise price strategies.
Returns: This figure shows the quantity of units returned. Sellers can use this metric to enhance the quality of their products and better understand their customer base.
Which Reports are Available in Amazon Retail Analytics?
The numerous reports provided by ARA help Amazon sellers better understand and optimise their performance on Amazon. Here are the most important reports:
Sales Report: With the help of this report, you can see how well your products are selling. You can see how many units of an ASIN were ordered, shipped, and returned, and how much money was made from it. You can also compare product performance over time.
The report includes the following metrics:
- Ordered revenue
- Product name
- Ordered Units
- Value of Shipped Units (Shipped COGS)
- Shipped revenue
- Shipped Units
Inventory: This report provides the current inventory and inventory forecast. Sellers can use these details to optimise their inventory management and avoid shortages.
Traffic: This report provides information on the number of visitors to the product page and the conversion rate.
Forecasts: The forecast report is used for supply chain planning to reduce the risk of shortages or excess stock. Here, Amazon provides an estimate of the upcoming weekly customer survey for each ASIN.
Net PPM: Net PPM is the actual profitability of the product after deducting costs, taking into account the cost of goods, supplier financing, and sales discounts. Whether a product is generating sufficient profit with its sales and whether operating costs are within a reasonable range can be determined by looking at the k-value.
Catalogue: Here you can find the most important data on your catalogue data at a glance. Included are:
- Product name
- Manufacturer code
- Parent ASIN
- Model number
- Brand code
- Product group
- Release date
- Inventory replenishment category
- Preparation instruction required
- Preparation instruction supplier status
Increasing Sales with ARA
Sellers can utilise a wealth of data and information provided by Amazon Retail Analytics to enhance their offerings and boost their sales. Here are a few ways sellers can use ARA data:
Sales Data Analysis: By analysing sales data, sellers can identify customer trends and behavioural patterns. This allows them to quickly respond to market changes and adjust their offerings accordingly.
Identifying High-Potential Products: By analysing sales data, sellers can determine which products are particularly successful and which are less successful. This allows them to allocate their resources efficiently and optimise their inventory accordingly.
Improving Product Descriptions and Images: By analysing traffic data, sellers can determine which product pages are particularly successful and which are less successful. This allows them to more effectively engage their customers and optimise the descriptions and photos of their products.
Optimising Price: By analysing Net PPM data, sellers can determine which fees and costs are associated with their offerings and which pricing strategies are most effective. They can adjust their prices accordingly and thereby maximise their profit margins.
Identifying Seasonal Trends and Events: By analysing forecast data, sellers can recognise seasonal trends and events and respond accordingly. This allows them to, for example, adjust their offering to holidays or regular events.
Sales Opportunities, Monitoring, and Improvement
In addition to sales data analysis and offer optimisation, Amazon Retail Analytics offers further benefits:
Identifying Sales Opportunities in International Markets: ARA provides sellers with information about sales figures on global Amazon marketplaces. This allows them to quickly identify popular products in other countries and adjust their offerings accordingly.
Monitoring Competitors and Pricing: ARA provides sellers with access to information about the sales activities and pricing of their competitors. This allows them to adjust their own offerings accordingly and maintain their competitiveness.
Better Inventory Management and Forecasting: ARA provides sellers with access to their inventory and enables accurate inventory management and forecasting. This allows them to optimise their inventory and avoid mistakes.
Amazon Retail Analytics offers sellers a wealth of data and insights that can aid in optimising sales strategies and increasing revenue. By accessing reports on sales, inventory, traffic, forecasts, Net PPM, and the catalogue, sellers can identify trends and patterns, improve product details, and optimise pricing strategies.
In addition, ARA offers sellers the opportunity to identify international sales opportunities, monitor their competitors and their pricing, and improve their inventory management and forecasting.
Are you looking to optimise your Amazon sales and fully exploit the potential of your products? Our agency can help you achieve your goals. Contact us today to find out how we can support you! We look forward to hearing from you.