Competitive research is an important tactic for both protecting your business and giving your business the best chance to grow. ShelfTrend offers tools to help you gain a broader perspective on your competitor while you assess the kind of threat they really pose to your business.
First, if you do not already know who your competitor is, run a Top 500 Live Listings Report for your best performing product. From there, identify a seller for which you will build some competitive intel. Take note of the name of that competitor.
1. Check out your competitor’s Top 500
Run a Top 500 Report with your competitor’s seller ID. Ensure that you have selected the eBay country that they sell into. If they sell on other country platforms, run this report for those countries as well.
The resulting report will give you a list of your competitor’s top listings as ranked by eBay. From the top of the report in the summary data section, observe:
Their total number of product listings available on that eBay country platform.
The price range of their top ranked listings.
The number of brands they sell.
Explore this seller’s product range.
Go to the category filter to identify which subcategories have the most listings. Either this seller has invested most into this subcategory, or eBay has determined that that subcategory has the most in-demand products for that seller.
Use the filters to focus on top rank. Isolate a price range. Search by keyword.
Get to know the products that are driving your competitor’s business.
2. Get an idea of their recent sales
To move on to the next report, click ‘Edit’ at the top of the report. The same criteria used to run the previous report will be available. In this instance, it should be the seller ID you just used to run the Top 500 report. This time, change the report to the Recent Sales report.
At this stage, you can decide to run the report as is, or add a category or keyword for a more refined set of data.
The Recent Sales report presents the 30-day sales data for up to the top ranked 100 listings.
At the top of the Recent Sales report, in the summary data section, observe:
Your competitor’s total number units sold in the last 30 days for those 100 listings.
Their sales value (revenue), in the local currency, from the last 30 days for those 100 listings.
Click through to the data visualisation to observer whether their sales are growing or declining.
Move around the report between the data tables and the chart view. Use filters to zoom in and out of interest points.
Sort to identify the listings that are generating the most sales.
Filter by time period.
Isolate a price range to compare a more precise set of products.
You can get a good read of your competitor’s actual threat to you by examining the performance of their top 100 listings. Perhaps they are ramping up their business, or perhaps their focus seems to be in other categories.
3. Find out what type of inventory your competitor is investing in
To move on to the next report, click ‘Edit’ at the top of the report. From there run a New Listings report for that seller ID.
The overview data at the top of the New Listings report will offer you:
The number of new listings your competitor has listed. Glance over to the Time filter to get an idea time period.
The price range of the new listing.
The brands they have listed.
Use the filters to dig deeper into the data. Go to the category filter to identify which subcategories have the most new-listings.
Get a more rounded point of view of your competitor by running the different ShelfTrend reports together. Learn from your competitor, assess their threat level and get to know their business. This is a great way to benchmark yourself, protect your own business and get ideas for business expansion. Do this regularly.
Like the market, your competitor is dynamic – a lot happens behind the scenes and you could be caught out if you’re not watching.