Selecting and measuring performance metrics is a key part of monitoring your own progress, assessing your business and planning for the future. Getting access to external measures to benchmark yourself again competitors are really rare.
Fortunately with ShelfTrend, meaningful comparable metrics are available in our reports for yourself and your competitor. Here are a few measures we would recommend as a starting point.
1. Revenue is the best way to establish real success.
There are two sales metrics available on ShelfTrend that you could use.
Sales from the last 30 days. Run a Recent Sales report for a competitor’s eBay seller ID to get a report on how many items they have sold (#Sold) and their overall sales revenue ($Sold) for their top ranked 100 products in the last 30 days.
Sales velocity (Sales/week). Run the Supply Demand report for a competitor’s eBay seller ID to get a report that takes a sample of their top products listed in the last 18 months, to gauge a weekly sales average. Weekly sales data is presented by sold items or by sales revenue per week (#sales/week or $sales/week).
For a more precise comparison, add some keywords or a category before you run the report.
2. Dominance of shelf space means that your products are both ranking well and grabbing buyer eyeballs. Run a Top 500 Live Listings report for a your most vital products. Download to csv to keep track of this list for future reference.
Compare the number of listings you have within the Top 500 Report versus your competitor.
Compare rank and how your listings are positioned against your competitor.
Filter rank to the Top 50 and Top 100 to see how your share of listings change. It is more critical to dominate within the Top 50 and 100, representing page 1 and 2 of search results than it is to be present in outlying pages where most buyers will hardly navigate to.
3. Rate of inventory renewal. Investing in new products and more stock on eBay is a sign of a confidence in the marketplace. Confidence that is likely inspired from success. Run a New Listings report for your competitor’s eBay seller ID.
Schedule to run this report regularly every 8 days to get an idea of how much product they are bringing onto eBay on a weekly basis. Compare this rate of inventory renewal to your own. Not only will this give you an idea of their investment in new inventory and categories, but it will also give you a strong impression of the size of their overall operations.
Track success metrics regularly for yourself and your direct competitors to validate sales and business optimisation efforts you may have initiated. Over time, you’ll be able to be see how your actions may have helped you gain ground on your competitor - or not.