Thanks to its vast and solid customer base, Amazon is a perfect launchpad for small business owners. However, with more than 12 million products on the marketplace, finding profitable opportunities can take substantial time and effort.
Thriving in such a prominent platform takes expertly navigating an ever-changing landscape, which presents exciting opportunities at a rapid pace. That's why research is crucial before opening an Amazon store. While doing so, one of the most vital factors you should focus on is the sales forecast. Once you have an idea of how much revenue you can make from a particular product, you can concentrate on developing that product to satisfy its high demand and maximize your profitability.
If you're curious to know just how much you could potentially earn from your Amazon store, don't miss our Amazon sales estimator tool. It's designed to take the guesswork out of your sales projections:
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And for more in-depth analysis, check out these Amazon sales forecasting software products to determine your profitability in 2024.
Top Amazon Forecasting Software to Consider
Best for: Businesses of all sizes Pacvue is an eCommerce acceleration platform helping enterprise companies discover opportunities, activate sales growth, and guide their businesses forward. It boasts a global network of data coverage and partnerships with top online marketplaces, including Amazon, Walmart, eBay, Instacart, and more. Pacvue harnesses the power of AI to predict sales and inventory, allowing Amazon sellers to anticipate what products will sell and when. Additionally, sellers can determine which promotions can drive the most sales. Suppose you run a business on multiple online marketplaces. In that case, Pacvue can unify all actionable retail data from those marketplaces into one place, enabling you to make more informed decisions that drive your business forward. You can determine the Amazon categories where you can lead, how to manage your inventory more efficiently, and edit your listings’ keywords from a single dashboard. Pacvue also recently introduced Pacvue XL Copilot, an AI solution for querying data using natural language prompts. Pacvue XL users can input queries (including speech-to-text) like “show me my bestselling products based on historical sales” to pull up pre-formatted charts displaying valuable insights, which they can use to forecast sales and profit. Key Features: Pricing: Available upon request Best for: All types of Amazon sellers Jungle Scout is a comprehensive eCommerce management platform for starting and scaling your Amazon business. It offers an extensive suite of solutions for product research, sales analysis, finding opportunities, listing optimization, and more. To predict your sales on Amazon, you can use Jungle Scout’s free Amazon Sales Estimator. The tool checks the average monthly sales for specific Amazon categories, helping you develop and launch profitable product ideas. All you need to do is open the Sales Estimator on your web browser and enter the product’s Best Seller’s Rank (BSR) Number, Amazon marketplace (e.g., USA), and the product’s category. Click Estimate Sales to determine the item’s estimated number of monthly sales. Source: junglescout.com It’s important to avoid confusing the number of monthly sales with monthly sales. The number of sales or sales number refers to how many units get sold over a specific reporting period, such as every month. On the other hand, monthly sales or sales refer to the amount you make from selling a product. Another way to forecast Amazon sales using Jungle Scout is through Category Trends. It’s a Jungle Scout feature that reveals the top 100 products of a particular category and their performance over time. This tool helps determine the market demand for a specific category and item, allowing you to validate your product ideas with accurate performance metrics. You can also track product rank trends, helping you predict how your product will sell during a particular period. For example, if an item’s rank goes down in Q1 but steadily rises as Q3 approaches, you can anticipate a high demand if you sell the product at the height of Q3. Key Features: Pricing: Best for: Amazon FBA sellers AMZScout is an all-in-one toolset for all types of Amazon sellers. It focuses on product research, keywords, product listings, fees and sales estimators, and quick-start solutions. Like Jungle Scout, AMZScout offers a free Amazon sales estimator, which you can easily access and use. Go to the AMZScout’s website, hover over “Tools,” and select “Sales Estimator” from the dropdown menu. You can estimate sales in three steps: enter your country, select the product category, and input the sales rank. Once you click “Calculate Sales,” the calculator will compute the product’s monthly average sales. Source: amzscout.net Although AMZScout calls it “sales per month,” it’s also referring to the average monthly sales number. Hence, in the example above, an average of 13,238 units were sold for the 500th product in the BSR list under the beauty and personal care category. To get a more detailed analysis of a product’s estimated sales and boost your forecasting efforts, AMZScout offers PRO Extension, a Chrome extension for tracking the sales trend of an Amazon product. You install it on Chrome, go to Amazon, and search for a product. Open PRO Extension to get a detailed analysis of the products, choose a specific item, and then click Product History to discover its performance on Amazon over time. The software also recognizes that the same products on Amazon may have varying daily sales numbers. Hence, PRO Extension can also help you identify the niches you should choose or avoid by calculating a product’s niche score, which determines how profitable a particular niche is. AMZScout’s sales estimator and PRO Extension are excellent sales forecasting tools because they let you track a product’s performance over a period. As a result, you’ll know when an item will likely sell well or go down the BSR list. Key Features: Pricing: Best for: All types of Amazon sellers SoStocked is an Amazon inventory management software with a demand forecast algorithm. It eliminates spreadsheets with a one-size-fits-all algorithm that automatically factors sales spikes or seasonality due to Prime Day and other events where you might need to purchase extra stock or scale down. One of the standout qualities of SoStocked is its user interface (UI). Even though the software eliminates spreadsheets, it still mimics them to give users a sense of familiarity. You can view sales and inventory metrics in columns and have a similar navigation system with Excel or Google Sheets, enabling you to master the software quickly. SoStocked’s Simultaneous Forecasting predicts Express Lead Time, which helps you figure out the quantity you need to order by express or regular shipping based on the historical patterns of your Amazon FBA inventory. It also features Forecast Modeling, which combines sales history and future marketing plans to predict sales and ensure accurate ordering. You can input your marketing plans in the inventory planning tool. For example, in the next Lightning Deal, you can add the date range and the number of units you plan to sell to allow SoStocked to predict the total inventory you need based on the sales forecast. You can also set seasonal spikes and depressions based on historical sales performance. Add the anticipated dates for the spike or decline, the name (e.g., Holiday, Slow Season), and the percentage of the historical sales increase or decrease. You can apply your forecasts on each SKU or across your entire catalog. SoStocked will predict the new spike velocity based on the data you provided. Key Features: Pricing: Best for: Amazon Merch on Demand sellers PrettyMerch is a Chrome extension for Merch on Demand sellers. It analyzes sales, helps manage products, and aids in product research. The tool can forecast sales through its trend finder feature, which is a part of PrettyMerch’s Research suite. It tracks trends and identifies upcoming ones before they go mainstream. You can browse Merch on Demand products using their BSR and sales numbers or search for them with their titles, brands, descriptions, or ASINs. Track trends by filtering your search results by BSR changes, allowing you to estimate their future performance. Since PrettyMerch is a Chrome extension, it’s incredibly fast and easy to set up. Look for PrettyMerch on Chrome Web Store, add it to your browser, log in, and start using it. Besides tracking trends, you can also find and filter products by type, price, marketplace, status, sales performance, days until removal, and more. Looking into these metrics helps forecast sales because it generates historical data, which lets you identify patterns, such as sales growth or decline, that may occur in the future. Key Features: Pricing: Best for: Niche Amazon sellers Unicorn Smasher is an Amazon research software developed by AMZ Tracker, another popular Amazon tool. This software provides accurate and updated sales data for any Amazon product, including sales estimates. Computing sales estimates help forecast sales by drawing data from tens to thousands of live Amazon listings. This allows you to determine the profitability of any niche confidently. Unicorn Smasher also streamlines tasks by eliminating spreadsheets and combining all your Amazon seller data in one place. Simply install the Chrome browser extension and log in. Go to Amazon, search for any product, then open the extension to discover the item’s sales performance, BSR, estimated revenue, and other relevant information to forecast how much money you can make in your niche. Once you’ve found the data you’re looking for, you can add it to your dashboard to organize your research data. Unicorn Smasher allows you to download data as a CSV file if you need to open the data on a spreadsheet. Lastly, since AMZ Tracker developed Unicorn Smasher, you can integrate the two software tools to closely monitor your competitors’ listings, discover their daily sales, and identify high-selling niches to gain optimistic forecasts for your own Amazon store. Key Features: Pricing: Best for: Businesses of all sizes Last but not least is none other than Amazon’s own forecasting tool. Amazon forecast uses machine learning (ML) to deliver a time-series sales projection. It first analyzes historical data to identify sales, web traffic, inventory, cash flow, and other metrics, combining them with related data like holidays, product descriptions, and promotions. Once those data are uploaded, Amazon Forecast automatically inspects them, points out critical attributes, and selects the appropriate algorithms needed for forecasting. Source: aws.amazon.com Once that’s done, you’ll get a customized forecasting model, where projections can be visualized in the console, exported in batches in CSV format, retrieved using Amazon Forecast’s API, and integrated into custom applications. You can also use AWS forecast to predict demands and inventory needs, helping prevent wastage, increase turnovers, and improve stock availability. In addition, the tool can anticipate workforce staffing needs during high- and low-demand periods as well as forecast foot traffic, visitor counts, and channel demand so you can manage your operational costs more efficiently. Key Features: Aws forecast pricing:1. Pacvue Commerce
2. Jungle Scout
3. AMZScout
4. SoStocked
5. PrettyMerch
6. Unicorn Smasher
7. Amazon Forecast
Why is Forecasting Sales Important for Amazon Sellers?
Forecasting sales allow Amazon sellers to plan for future strategies and make wise decisions about their operations. There are various methods to forecast sales, as shown by the tools above. However, the most excellent approach depends on your specific business and industry.
Amazon sales forecasting software is incredible because you don't have to spend too much time with lengthy calculations and guesswork. It streamlines research and projection tasks—no matter your business and industry—through search filters, analytics, and in some cases, ML and AI. You can reap these benefits for free and make an investment only when you’re ready to scale up your business. Some software tools also have customizable plans, offering tailored features and advantages.
Stay Ahead of the Competition with Sales Forecasting
With these advanced tools available, sales forecasting has become easier than ever. You don’t need coding knowledge to set up anything. That said, always include sales forecasting in your ongoing business strategies to anticipate demand, allocate resources efficiently, set realistic goals, and spot potential issues before they impact your sales.
Frequently Asked Questions
What is Amazon sales forecasting software?
Amazon sales forecasting software is a tool that helps Amazon sellers predict future sales based on historical data, market trends, and other relevant factors. These tools streamline research and projection tasks, enabling sellers to make informed decisions about their operations.
What are the advantages of forecasting sales on Amazon?
Forecasting sales on Amazon lets sellers anticipate demand, which enables them to stock their inventory appropriately and maximize profit and revenue for an upcoming period. It also helps sellers prepare for seasonal slowdowns and avoid overstocking.
What are the best Amazon sales forecasting software options?
These seven tools have everything an Amazon seller could need:
- Pacvue
- Jungle Scout
- AMZScout
- SoStocked
- PrettyMerch
- Unicorn Smasher
- Amazon Forecast
What are the key features of these sales forecasting tools?
The key features of these tools include search filters, analytics, machine learning (ML), and artificial intelligence (AI) to streamline sales forecasting tasks. Some tools also offer customizable plans with tailored features and advantages.
Can I use these tools for free?
Yes, many of these tools offer free versions or trials, allowing sellers to test the software before making an investment. Some tools also have customizable plans with tailored features and advantages.
How do these tools help Amazon sellers stay ahead of the competition?
These advanced tools make sales forecasting easier than ever, even for those without coding knowledge. By including sales forecasting in their ongoing business strategies, sellers can anticipate demand, allocate resources efficiently, set realistic goals, and spot potential issues before they impact sales.
What is the difference between Amazon Forecast and the other tools?
Amazon Forecast is a fully managed time-series forecasting service that uses machine learning technology to deliver customized forecasting models. It analyzes historical data to identify sales, web traffic, inventory, cash flow, and other metrics, combining them with related data like holidays, product descriptions, and promotions. The other tools mentioned are third-party software solutions that offer similar forecasting capabilities.
