Beat Your Competition With a Comprehensive Amazon Competitor Analysis


You must have often heard that if you know your enemy well, you need not fear any battle. This can’t be truer for Amazon marketplace.  There are over 800 new sellers who sign up to become a seller on Amazon every day. This figure clearly tells us about the intensity of competition on the marketplace. If you want to outperform other million sellers on the platform, you must plan on doing a comprehensive competitor analysis on Amazon.

2ndoffice Amazon Competitor Analysis

Here’s how to get started:
  • Understand who your main competitors are
Find out the products that top brands are selling on Amazon. Once you’re clear about these products, you must ideally avoid selling them unless you’re sure that your products have distinct features and can beat your competitors’ products. The reason for this is that well-established brands are capable of providing better discounts.

What to do to compete with these main competitors:

Identify those products of yours that have a superior quality to you competitors’. If you have a competitive advantage (which you will), highlight it attract shoppers.
  • Pay attention to the quality of their listings and their product reviews


The quality of product listing directly affects people’s purchasing decisions. Keeping a keen eye on your competitors’ listings will give you a fair idea about their strong and weak points. Try fulfilling your competitors’ shortcomings in your product listing. Monitoring their product reviews will help you identify the problems with the product, how they plan to solve those problems, and the features that your customers love about the products.

What to do to outdo other sellers on your listing quality and reviews:

Ensure to include enough information in your product pages that both your existing as well as potential customers could possibly be looking for. Include your product title, features, description, Q&A, and images in your product listing.
  • Monitor your competitors’ pricing strategies
Price is another major factor which influence’s people’s buying decisions. Paying attention to the pricing strategies of your competitors will give you a head start to set up your own pricing strategies. Ensure to constantly change your product prices if you do not want your customers to make their purchases from your competitors who’re offering better prices. C consider using a competitive repricing software for this purpose.

What to do to provide cutting deals on price:

Although this is a risky strategy, you can try reduce the Amazon fees you pay. Cut your prices close to break-even, most often when you launch new products on the marketplace.

Final thoughts

Whether you’re considering to add new products to your offerings, accelerate your sales, meat your monthly sales goals, beat your competitors, or simply understand the market in a better manner, running a competitor analysis is essential. A comprehensive competitor analysis will give you a good view of who your main competitors are, what strategies and tactics they’re adopting, and how they are successfully making sales on the platform.

2nd Office is a leading professional Amazon services provider offering services such as Amazon listing creation and optimization, Amazon photo editing, Amazon competitor research, feedback removal, and customer support, among others. It’s time to get started with analyzing your competitors on Amazon.




Comments

Popular posts from this blog

Why is it Wise to Choose Professional Proofreading and Editing Services

How to Run Your Business and Ensure Productivity During The Covid-19 Outbreak

Top 4 eBay Listing Tips For New eBay Sellers to Create a Top-Selling Listing