Amazon's Socks Bestseller Analysis: key trends and drivers

The goal for many companies in the Amazon marketplace is to achieve the bestseller rank for their products. This means that they have earned the popular vote (high rating and positive reviews) and that they stand out among the competition, resulting into an increase in the number of sales. The bestseller rank is perceived as a validation of quality. Reaching this range provides the products (and therefore the brand) with greater visibility and recognition, as buyers tend to purchase what others are buying. Despite the way Amazon decides whether a product qualifies as a bestseller is not in the public domain, certain factors as rating, reviews and quantity of sales are understood to be key to the algorithm. Throughout this project, an analysis of the bestseller socks on Amazon.de will be carried out, gaining insights on what makes a product a bestseller. In addition, an attempt will be made to group the socks based on their features and thus predict the future sales rank of the current bestsellers.