With millions of sellers offering products on Amazon, the competition in this marketplace is extraordinary. It's like entering a huge arena where everyone's fighting to win. It's tough, but the key to success lies in understanding your competition.
Competitor analysis helps you price your products fairly and still make a profit. By knowing competitor data, you can make better decisions about your Amazon business and avoid wasting money.
In this guide, we'll equip you with the essential tools to analyze your competitors and decide which products to sell and which ones to avoid.
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Amazon Competitor Analysis
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What Is Amazon Seller Competitor Analysis?
Amazon seller competitor analysis is the process of identifying, and researching your competition on the Amazon platform. It tells you how much your competitors are charging for their products, how intense is the competition, and what products are selling well and which ones aren't.
This product information is crucial for understanding your market, identifying opportunities, and making informed decisions about profitable to sell.
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Why Analyze Competition?
Analyzing your competition on Amazon is crucial for success. It helps increase sales and profitability and gain a competitive edge in the Amazon marketplace.
Amazon Competitor Analysis Benefits
Benefits of performing Amazon seller competitor analysis
Identify market trends
You can identify what products work well in the market and what customers are looking for, but where your competitors are falling short. These are the products that have high demand and medium competition. Such products have good sales potential.
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Setting competitive pricing
By understanding your competitors' pricing strategies, you can set competitive prices for your own products while still maintaining profitability.
Understanding what sells and what doesn’t
By analyzing the sales history of your competitor products you can see how well they sell over time. That helps see if the products are going to bring you profits in the long run.
Avoid losing money
Tracking competitor sales and pricing helps forecast market trends and avoid investing in products losing popularity or entering price wars. If competition is very high, sellers must often sacrifice their profits and even go below the break-even price. That means, no profit. Therefore, it’s better to stay away from such products not to lose money.
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How to Find Out Your Top Competitors?
First and foremost, to analyze your competitors you must find out who they are. Amazon doesn’t show you all the offers.
Unlike other platforms, on Amazon, all offers of the same ASIN are added to one listing. Amazon’s algorithm selects the best offer and shows the price and the shipping time. When a customer clicks the "Add to Cart" or "Buy Now" button (BuyBox), they are purchasing the product from the seller who is featured in the Buy Box.
Other seller offers are not explicitly visible in the BuyBox, therefore you can’t see who is competing with you if you sell the product.
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How to see who are your competitors?
To gain insights into Amazon’s competitive landscape and find out who exactly are your competitors, you must use product research tools. The most effective of them is Seller Assistant App.
When you open a product listing, Seller Assistant App shows your top competitor.
It displays the BuyBox seller name, seller information, and the link to their store directly on that listing.
Seller Assistant App shows you the BuyBox seller
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It also shows all other competitors — the number of FBA and FBM sellers offering the product. When you click the figure of FBA or FBM sellers, Seller Assistant App will show you the list of your competitors, their offer details, the links to their stores, the number of ratings, the percentage of positive product reviews, and their BuyBox percentage.
Seller Assistant App shows the list of your competitors and their offer details
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How to Analyze Competition Step by Step
As we said, you can’t see product sales data on Amazon. However, this data is crucial to staying ahead of the competition because it gives you a competitive advantage and lets make informed decisions.
Amazon Competitor Analysis Process
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Seller Assistant App helps you fill in that gap. Here are some key steps involved in performing Amazon seller competitor analysis with Seller Assistant App.
Step 1. Finding high-demand, medium-competition products
The first step to researching the competition is to identify what you will compete on. You must find products that will sell well because there’s no use in competing over items that will not be bought by the customers.
Amazon doesn’t show monthly sales of products. To understand that, we will use Seller Assistant App. It calculates the approximate count of product sales product’s Best Sellers Rank (BSR) and category.
If Seller Assistant App highlights BSR with green, the product is in the top 1% of sales in its category and sells very well. If the BSR figure is red — it’s not in the top 1%. A green downward arrow indicates that BSR becomes lower (a product sells more over time). A red upward arrow indicates that BSR increases (a product sells more less time).
Seller Assistant App calculates the approximate count of product sales
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Step 2. Researching competitor price offers
You must research competitor price offers to understand if the product meets your profitability criteria.
Seller Assistant App shows you the average BuyBox price and the BuyBox price percentage compared to the 90-day average price (that indicates if a price goes up or down). You can see the minimum FBA and FBM price offers.
Seller Assistant App shows you the average BuyBox price
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You must also look at the BuyBox price drops. If the BuyBox price constantly jumps up and down, that may indicate price wars when your competitors dump the prices in the fight for the BuyBox. That will usually mean lower profit margins and such products will not bring you the money you expect.
Buy Box price wars
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Step 3. Identifying competition level
To identify the competition level, you must find out how many sellers sell on the listing. If more than 10 FBA sellers sell it, the competition level is very high. Your direct competitors are sellers with price offers that exceed the BuyBox price by 2-3%.
Seller Assistant App displays the number of FBA and FBM sellers offering the product (the FBA and FBM figures on the blue background), and the count of offers with the lowest price — BuyBox price + 5% (the FBA and FBM figures on the white background).
Seller Assistant App displays the number of FBA and FBM sellers
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Step 4. Identifying if Amazon competes with you
Amazon can sell specific products as a seller in its own marketplace. If they sell a product, they are your direct competitor.
It’s almost impossible to compete with them. As a huge retailer, they always get the best offer. Therefore, it’s better to find another item to resell.
Seller Assistant App shows if Amazon is a seller with the Red A icon.
Seller Assistant App shows if Amazon is a seller with the Red A icon
Step 5. Calculating how many products you can sell
Depending on the number of your competitors, you can sell a specific number of products.
Seller Assistant App shows your estimated product sales if you become one more seller on the listing (‘Est’).
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Seller Assistant App shows your estimated product sales
Step 6. Identifying competitor stock
When analyzing competition, you must check how many products they have in stock. Seller Assistant App’s Stock Checker shows you competitor inventory in stock.
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Seller Assistant App’s Stock Checker shows you competitor inventory in stock
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FAQ
How do I find competing products on Amazon?
To find competing Amazon products, use Seller Assistant App. It will show you all competitors — the number of FBA and FBM sellers offering the product. When you click the figure of FBA or FBM sellers, Seller Assistant App will show you the list of your competitors, their offer details, the links to their stores, the number of ratings, and the percentage of positive product reviews.
Who is Amazon's best competitor?
It depends on the specific market segment. Alibaba dominates globally for online marketplaces, while Walmart leads in physical retail, and Netflix in streaming services. Each excels in their own niche, making it hard to crown a single "best" competitor for Amazon.
What is a competitor price analysis on Amazon?
To do competitor price analysis, you must research all competitor price offers. Seller Assistant App shows you the average BuyBox price and the BuyBox price percentage compared to the 90-day average price (that indicates if a price goes up or down). It also shows the minimum FBA and FBM price offers. This information helps price your products competitively.
How do I compete with other sellers on Amazon?
To successfully compete with other sellers on Amazon you must select the right products to sell. They must have high demand and medium competition. Also, you must price your products competitively.
How does Amazon differentiate its products from competitors?
Products sold by Amazon are labeled “Sold by and shipped by Amazon.” Also, Seller Assistant App shows if Amazon is a seller of a product with the Red A icon.
What is competitor analysis for retail?
Competitor analysis for retail includes finding competing product offers and analyzing them. To do it, you can use Seller Assistant App. It displays the number of FBA and FBM sellers offering the product on the search and product pages. It also shows you the list of your competitors, their offer details, the links to their stores, the number of ratings, and the percentage of positive product reviews.
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Final Thoughts
In conclusion, Amazon offers sellers excellent selling opportunities, but it also has tons of competition. To win from your competitors, you must do an Amazon seller competitor analysis.
With Seller Assistant App, you can do this analysis quickly and accurately. This comprehensive product sourcing extension offers you all the necessary competition insights with its Offer feature.
Seller Assistant App shows essential competitor data directly on Amazon products and search pages. Its FBM & FBA Profit Calculator, Quick View, Stock Checker, Restrictions Checker, and other ultimate product research features provide every tool you need for Amazon seller competitor analysis.
Originally published at https://www.sellerassistant.app/blog/amazon-competitors-analysis
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