Sales predictions and competition research are not separate Terapeak tools as such, but are rather integrated across the application into other Terapeak tools. Use the images in the answers below to help you to locate the features in question.
Where can I find sales predictions for my listings?
To receive sales predictions for your listings, you must link a seller account to your MySales dashboard.
This enables Terapeak to access your listings, after which sales predictions can be provided for them. You will find sales predictions shown as a column in your MySales Active Inventory tab.
Sales predictions are supported for linked eBay and Shopify seller accounts.
Why don’t I see sales predictions for my Amazon product listings?
At this time, sales predictions are offered only for eBay and Shopify product listings.
What do the sales predictions numbers mean?
A sales prediction is shown for each eBay or Shopify listing in the seller accounts that you have linked to MySales.
Each sales prediction is a percentage. This percentage represents the likelihood that...
- A particular listing title
- At a particular price
- In a particular category
- With a particular item condition
- Using a particular listing format
...will or would sell on the eBay.com marketplace over the next 30 days.
Low percentages represent a low likelihood of sale. High percentages represent a high likelihood of sale. In general, your existing title, price, category, item condition, and listing format are used for the calculation.
However, when a listing can not be directly aligned with options on eBay.com (if, for example, it is on a marketplace that uses different categories from those found on eBay.com), the algorithm may calculate a “best guess” as to how the product would be listed on eBay.com, based on other similar listings.
How are sales predictions calculated?
Sales predictions uses a proprietary data model to provide sale likelihoods. The calculation proceeds in roughly three steps:
A category is selected. Sales predictions will either use your existing category (for eBay listings with a matching eBay.com category) or will select an appropriate eBay category based on the listing title.
A series of probabilities is calculated. Based on the performance of other similar items already sold, individual sale probabilities are calculated for each of your title keywords, your price, your item condition, and the format of your listing.
A combined probability is calculated. The series of probabilities already calculated is weighted and combined into a single probability. Note that title keywords often have significantly more weight than other factors.
These combined probabilities are the figures shown as sales predictions on your MySales dashboard.
How accurate are sales predictions?
The prediction algorithm is based on Terapeak’s own research and regularly tested and optimized to ensure that it is predictive of sales on eBay.com.
On average, therefore, predictions are quite accurate. There are, however, two important caveats to consider:
Accuracy varies by category. Predictions are necessarily more accurate for some categories than others. In particular, categories with highly diverse selection of products and/or that see relatively low sales volume are more difficult to accurately predict.
The predictions are probabilities. As is the case with all probabilities, actual results may vary. Just as you could flip a coin ten times in a row and receive heads each time—even though the probability of heads is only 50 percent for each flip—it is also possible for individual listings to perform better or worse than was probable in real-world cases.
Can I research my competition using Terapeak?
Yes. There are a number of Terapeak features that enable you to research your competitors in a variety of ways.
Sellers tab. After running a Product Research 2.0 search, select the “Sellers” tab to see a list of the sellers for the product(s) you’ve searched for, as well as the percentage of the overall market controlled by the top ten sellers. You’ll also see detailed sales metrics for each seller.
Inventory Ideas tab. After running a Product Research 2.0 search, select the “Inventory Ideas” tab to see a list of the other products and listings that are performing best for the top sellers represented in your product search.
Sales benchmarking features. Use the MySales and Product Research 2.0 benchmarking features to compare your own sales performance to those of other sellers and to the marketplace as a whole for a particular listing or product(s).
Where do I find sales benchmarking features? How do I use them?
Sales benchmarking features are integrated into MySales and Product Research 2.0. These features enable you to compare your own sales performance for a particular listing or product(s) to the performance of other seller(s) offering the same item(s).
To compare the performance of a single one of your listings to the marketplace as a whole, follow these steps:
Click “Dashboard” in your navigation bar to visit your MySales dashboard.
Identify the listing you’d like to benchmark against the competition in your MySales Transactions or Active Inventory tabs.
Click on the binoculars icon at the far-right of the row showing the listing in question. You’ll be taken to Product Research 2.0, where a search will be pre-built for you using the keywords from your listing.
Refine the keywords, filters, date range, and other parameters of your search so that Product Research 2.0 shows other listings that are clearly competing or have clearly competed against yours.
Compare the metrics for your own listing (shown in green) to those of the all listing(s) returned by your search. Note that as you scroll through other transactions, your listing and its metrics will hover at the top of the page for easy comparison.
To compare the performance of all of your listings that match a particular search to the marketplace as a whole, follow these steps:
Click “Research” -> “Product Research 2.0” in your navigation bar to start the Product Research 2.0 tool.
Run a search, including all relevant keywords, filters, dates, and so on for the product(s) whose sales you’d like to measure and compare.
Select the seller account through which you sell the product(s) in question using the “Benchmark my sales” drop-down list.
Compare the metrics (shown in green) for your own sales across any matching listings to those of all listing(s) returned by your search.
Both of the benchmarking workflows described above help you to understand how well other sellers in the marketplace are performing in comparison to you.
Where did the “Competition Research” tool in go?
The stand-alone Competition Research tool was retired in early 2017 in favor of a more seamless integration of competition research features into other Terapeak tools.
The legacy Competition Research tool thus longer appears in Terapeak’s Research menu and is not available for use.
Can I find a competitor by eBay ID and see their sales metrics?
It is not possible at this time to search for a competitor by eBay seller ID directly.
You can, however, search for any product you’re interested in selling and—using the Sellers tab in Product Research 2.0—see a list of all the sellers that sell it, along with their sales metrics for that product. You can also see—using the Inventory Ideas tab—the top other products sold by competing sellers.