Amazon Competitor Research

Amazon, the world’s largest marketplace, earns approximately $17 million every hour. It is essential to stay up-to-date with what your competitors are doing to remain one step ahead. Keeping track of their prices, sources, product quality, promotional strategies, and item descriptions is necessary for eCommerce success on Amazon.

What is Amazon’s competitor analysis?

Doing Amazon competitors research involves in-depth research on any competitors you may have. This means identifying who is competing against you, their marketing methods, and the products they sell. A competitive analysis aims to gain knowledge of your competition and what advantages or successes they are achieving. This can help you to adjust your own strategies to gain a more significant competitive advantage. Additionally, it can give you ideas on overcoming the opposition and standing out in the market.

How to find and analyze competitors on Amazon?

When researching your Amazon competitors, it is essential to consider similar products being sold by other vendors. An effective way to find out who your rivals are is to search for your product ideas on Amazon. Use specific but not too detailed keywords to start. When the keyword you use becomes more and more specific, the number of other vendors who sell similar products decreases. Those are the competitors you should analyze carefully.

Here are the main steps you should follow:

1. Perform keyword research

If you want your products to come up when someone looks for that item, you need to ensure you are utilizing the correct keywords or phrases. Otherwise, you could be missing out on opportunities for impressions and sales. You can try to figure out what keywords to use without any outside software, but you would save a lot of effort if you used a keyword analysis tool. You could try to guess what words somebody might use, but it’s better to use an analysis tool that gives you an exhaustive roster of keywords you should aim for.

2. Define your competitors

After making a list of the search terms you want to be ranked for, you have to identify the other sellers competing for the exact keywords. Do a search for each keyword and inspect the competitors’ products that appear on the initial pages of the search results. You should focus on the sellers whose products are in the highest positions. Afterward, create another list of sellers with their listings included in the search results, and do the same exact technique with the other keywords. You can also make use of Google to locate these competitors who are competing.

3. Create a list of competing sellers on Amazon & analyze them

Once you create a complete list of your competitors, you can start analyzing them. Here is the list of critical things you should consider:

Product Title

Begin by looking at rival merchants’ titles for their items. Compare the titles of different items and note what could be added or removed to improve them. Note other retailers’ keywords and phrases in the product title to tell their customers what the product is.

Product description

By looking through many product descriptions, you will start to get an idea of what information should or should not be included in a good description and what type of tone should be taken.

Bullet points

Bullet points commonly include the top-selling characteristics of their products, so you should examine them thoroughly. For example, you can assess what aspects of their product your rivals accentuate and find approaches to dispute those features in your bullet points.

Product images

Pictures are among the most necessary components in any list, as consumers cannot touch or see the product in person. You should do your best to get premium-quality photos taken at the right angle, demonstrating the product at its finest. Review the images of other companies’ items and observe what works and what doesn’t. Pondering on how to make your product stand out from the rest using shots should also be done.

Customer reviews

You can gain valuable insights by looking at Amazon reviews for your competitors’ products. Negative reviews show you precisely what you need to alter to be better than the other brands. List all aspects of the rival product customers weren’t satisfied with and use this information to improve your own.

Prices

Price is a crucial factor in customer decisions, so make an effort to cost your item lower than the competitors. However, if it has higher quality than the other goods, then you can keep the price the same or possibly even increase it slightly, as long as it still leaves you some room to make a profit.

Conclusion

Examining the competition on Amazon can take a lot of effort, but when you finish, you’ll know the current state of your niche and its leading businesses, why they are so successful, and the steps you should implement to be a top player in your field. Thankfully, you don’t have to search through everything by yourself. Get in touch with Spark Sales Online and our team of Amazon experts will ensure your product’s success. Fill out the form on the website, call us or send an email any time! We are always ready to help you develop your business on Amazon.