Selling products on Amazon can be incredibly profitable.
Even if you have a store of your own through a platform like Shopify or through a WordPress plugin like Woocommerce, it can still be a good idea to make your products available through Amazon as well.
But being the massive, thriving online retail platform that it is, Amazon is chock full of some serious competition.
No matter what you’re selling, someone else probably got there first.
To succeed, you’ll need to get an edge over the competition.
How exactly do you do this?
One approach is to take a close look at exactly what your competition is doing.
This can not only reveal what tactics and strategies are working, but it can also help you get a feel for their weaknesses.
In a recent blog post — part of a new epic guide to Amazon selling — Shopify offers some smart strategies you can use to understand as much as you can about what you’re up against.
Analyze competition with the following factors in mind:
1. Customer Reviews
Customers are very clear on what their preferences are, and often times can lead you to future product enhancements or ideas.
Are customers complaining about packaging? How many customers mention price in their reviews?
What other products have they mentioned trying in the same category?
2. Updating Frequency
How often are competitors updating product content, pictures, or other content?
Are they cycling through seasonal photos (i.e. Christmas or Halloween themed?)
Do they have clearer messaging of product benefits and usage than you do?
How often are they changing pricing and what effect does that seem to have on their Best Seller Rank?
3. Complementary Products
For complementary categories (for example, memory cards and cameras), what are those brands doing well in?
Is there an opportunity to cross-promote with them?
Are there any insights on their customer reviews about what lead them to that purchase and how that may affect how they search for your product?
Does it make sense to target those category keywords on your Sponsored Product campaigns?
You can learn more about how to analyze your Amazon competitors in the full blog post over at Shopify.