Analyzing competitors is an important basis for mutual learning and progress. Regular analysis of competitor information can greatly promote changes in one's own store and thus progress. So what do we need to do to use the information of competitors to make progress?
How does Amazon obtain sales data of competing products?
1. Review Quantity Evaluation Method
Based on the total number of reviews of the corresponding listing and the number of reviews in the last one, two, and three months, multiply it by an appropriate multiple to roughly assess the historical and recent sales of the listing. At the same time, you can also assess the market trend of the product based on the sales changes in the last three months or the last six months.
2. Feedback Quantity Evaluation Method
In addition to evaluating by the number of reviews, we can also evaluate the store’s average daily sales by the number of feedbacks.
Taking the US site as an example, three times the number of store feedback in the last 30 days is roughly equivalent to the store’s total sales in one day. For example, if you see that the number of Feedbacks for a store in the last 30 days is 60, then you can roughly estimate that the average daily sales of the seller's store is about 180 orders. If the number of Feedbacks for the store in the last 90 days is also around 180, then it also shows from one side that the sales of the store are relatively stable.
3. Third-party tool crawling method
Currently, there are many third-party software that can monitor Listing data, such as Captain BI, Keepa, etc., and the data is relatively accurate. For example, Captain BI product monitoring can monitor the ranking changes of products, shopping cart prices, number of sellers, daily sales data, inventory changes, etc.
4. Add to cart evaluation method
When you pay attention to a listing and want to know its sales, you can also evaluate it by adding it to the shopping cart. We can directly add the listing to the shopping cart, and then change the purchase quantity to 999. If the seller does not actually have that much inventory, the system will give a prompt.
How to analyze Amazon’s competitive product data?
1. Review analysis of competing products, we should pay attention to this information
Reviews are crucial to the growth of our listings. The number of reviews can reflect the sales of competing products to a certain extent. We usually believe that sales of around 130 can bring 1 review. We can analyze and judge the market situation by collecting review data from multiple competing products.
The high-frequency words displayed at the top of the Amazon Review page are also worthy of our attention. Careful observation can reveal some popular keywords. We can also combine these words into our titles and descriptions, thereby improving our Listing weight to a certain extent.
2. Analyze the marketing ideas of competitors and avoid these pitfalls
To analyze marketing ideas, we first analyze the sources of competitor traffic. The free traffic within the site is directly related to the quality of the listing itself, so you should pay attention to analyzing how competitors’ listings provide detailed descriptions, as well as how product images and listing titles present the product. For paid advertising on the site, you need to observe what advertisements your competitors are running. You can search for off-site advertisements on major platforms. Try to understand the sources of competitor traffic as comprehensively as possible. The data obtained by simply checking the site is incomplete.
Secondly, product pricing. The prices of competing products are not as high as you see at the beginning. They are only there after hard work to become the Best Seller. Therefore, we need to take a long-term view when operating Amazon. We cannot stick to ensuring a certain profit margin at the beginning of the operation, lest high prices lead to poor sales and ultimately failure.
3. Analysis of competitor listing details: these points should be grasped
When analyzing competing products, to a large extent we need to learn how to polish the details of competing product listings. High-quality listings bring better click-through rates and conversion rates. The importance of keywords is not only reflected in the title, the entire listing is made up of words.
First, through the analysis of multiple competing product listing titles, we can find keywords that appear frequently, as well as valuable feature words, and find the accurate core keywords of the product.
Secondly, we also need to analyze the detailed description, five-point description, QA, even review and product pictures to find out what keywords the competitors use and how the product features are described.
This is the end of the knowledge about Amazon competitive product data in this issue. If you want to get more information about Amazon competitive product data, please pay attention and we will continue to answer you~
