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Research on E-Commerce Competitors

What Makes eCommerce Competitor Research Unique? How can I do it correctly? One of the most important factors in a commercial enterprise's external environment is its competitors. Additionally, all businesses in the same market are competitors of one another. Your competitors are impacted by what you do, and vice versa. This makes it necessary for any company to monitor its rivals and their activities. Making better judgments and strategies for the company is the goal. The solution lies in competitor research.
The channel of e-commerce is already very competitive. It might be challenging for your brand to get attention if it is not already well-known. Even though you may believe that your business plan and model are flawless, your rivals may make some strategic choices that undermine it. However, if you have access to the appropriate competitive analysis and research, you too get the same benefit.
We'll go into greater detail about the value of and approaches to competitor research in eCommerce in this blog.
Finding the Leading Companies in the Market and Their Direct Rivals Understanding your brand's competitors is crucial. Market leaders, direct competitors, and indirect competitors are the three key criteria used to categorize rivals. You should refrain from arguing with the established players or industry leaders. You have to know who they are for that. They don't have to be the most well-known brands. Because they compete for a subset of the same segment's customers, the indirect competitors may be eliminated. You ought to focus on your direct rivals. Their actions affect your company more directly than those of the market leaders or indirect rivals. The output visualizations appear as follows when you conduct competition research for your eCommerce firm to find competitors based on, instance, domain traffic.
Hopscotch is at the top of the charts with almost 97% of the traffic, as seen in the first graphic. The second figure illustrates the brand's strong traffic volume and modest traffic growth. The remaining traffic volume is shared by the other nine players. The top three players are engaged in fierce competition even within this share. In terms of traffic growth, Popees is the brand that is expanding the fastest among them. Even if your product line is aimed at a new market, these insights will put you in a far better position to identify your competitors.
Evaluating the general traffic parameters to the websites of certain competitors The traffic volume and traffic growth rate of a list of rival brands were broken down per competitor in the previous point. However, we also need to observe what intriguing events occur within each traffic data point. Alternatively, suppose we want to find out what viewers are doing after they visit each website. Let's read the traffic statistics from an eCommerce website in an anonymous manner. The images are provided below.
At one point in time, the Commerce website had over 81k hits. It displays how many times the page was visited. For simplicity's sake, we'll assume that these are unique visits. Although 80k visits may seem like a lot, the amount of traffic has decreased by over 13% compared to the previous period. This particular competitor's traffic is dropping. The average visit duration is the average amount of time a user spends on a website. This number doesn't seem suitable for an eCommerce website at 02:12. The bounce rate is averaging at 58% indicating the site is good enough to be able to hold back its audience. Lower bounce rates are better but the contemporary average levels are 50-70%. The bounce rate of your eCommerce site should be closer to those of your direct competitors.
The UAE is where much of the traction is occurring, as you can see below. The other markets are behind well. Currently, it is easy to assume that the UAE market is booming. After that, will you enter this market? Or will a less competitive market be your choice? Naturally, these are not stand-alone choices, but being aware of which markets are booming and which are not aids in the decision-making process. For instance, Saudi Arabia is home to a greater population than the United Arab Emirates. Saudi Arabia might present you with a better market than the United Arab Emirates if your product is inexpensive and has the potential to appeal to a larger clientele.
The Inorganic and Organic Efforts of Rivals eCommerce firms are willing to use sponsored promotion because of the fierce rivalry to attract customers on different digital channels. In areas with intense competition, inorganic techniques work well. For example, organic strategies would not work well if you are an eCommerce company selling perfumes in the United Arab Emirates. Nevertheless, you might still achieve a remarkable reach with organic efforts if you are targeting a certain market, such as offering office workers high-quality, reasonably priced perfumes. The organic and paid efforts of a number of rival eCommerce firms are divided up in the image below.
Leading-searched rival goods You should always be aware of the products that consumers are searching for the most on digital platforms if you are an eCommerce brand. A product search may not always result in a purchase. However, when paired with additional analytical insights, you can gain a reasonable grasp of the demand for different products in a certain market. As you can see from the image below, Pic. 6, a specific highlighter is the brand's most searched-for item. Other beauty products and their preferred quantity-based packaging sizes come next. Do any of your products compete here if you are a brand that sells cosmetics and personal care items? If so, you would be vying with these products for visibility and search engine optimization. It is worthwhile for you to weigh the advantages and disadvantages of these products if clients are searching for them. Ecommerce market intelligence will assist you with product development, identifying the ideal packaging sizes, and digital marketing.
The social media presence of rivals Social media gives eCommerce firms a way to interact and engage with their online consumers as it becomes a more popular mass communication platform. On-page advertising, influencer marketing, customer service, shopping platforms, backlinking, hiring, and so forth are some examples of this. Marketing and managing a brand in an objective and creative way is a broad field. Given these opportunities, it is important for eCommerce firms to evaluate how their rivals are using social media for business development and management. For example, if your company sells athletic equipment and you want to reach certain South African markets,
knowing for what business reasons your direct competitors are using social media platforms could be vital information for you. Is it only for promoting their brands? Are they offering the option of selling from their social media handles? All these and other related questions could help you make good use of having a social media presence in relevant ways.
Flexibilities in Payment Provided by Rivals You should be able to easily copy the payment methods that your rivals provide. This is a simple, direct benefit for clients. Having several payment methods in place is not difficult these days. It could be necessary to adhere to relevant regulatory standards. You must adhere to the legal requirements of the nations in question if you are shipping overseas. Additionally, you will need to determine which payment options are most common in each location. Research on e-commerce competitors provides you with a clear picture of the payment options you should take into account.
Reaching Out to Competitors in Delivery International shipping is offered by certain eCommerce brands. Some multinational corporations open subsidiaries abroad. There are some domestic brands. Some only provide local delivery within a state. The scope of your delivery network coverage is determined by your target markets and competitors. Your delivery chain will eventually need to develop that kind of outreach if you are competing with a brand that delivers nationwide. You have an opportunity to increase your domestic market share if your rivals' distribution coverage is restricted. You can improve your competitive position by evaluating the performance of your rivals.
User-generated content and product reviews from rivals User Generated Content is referred to as UGC. eCommerce firms' social media handles urge their followers to produce content in order to increase traction with audiences and algorithms. Giveaways, for example, are among the most popular strategies for producing UGC. To be eligible for the giveaway prizes, fans are encouraged to use specific hashtags, write a remark, tag their friends, and more. These actions increase the social media pages' visibility to a larger audience and boost their popularity. Understanding how your rivals produce user-generated content (UGC) may inspire you to do better work in order to get greater outcomes.
knowing for what business reasons your direct competitors are using social media platforms could be vital information for you. Is it only for promoting their brands? Are they offering the option of selling from their social media handles? All these and other related questions could help you make good use of having a social media presence in relevant ways.
Nobody could provide you with more accurate market intelligence than your rivals. The purpose of this is not to demonize other players. You are a rival to other people as well. The important thing to remember is that their actions and activities are conveying a story. Do you hear me? For your eCommerce endeavor, are you thinking of conducting a competitor analysis? With more than ten years of market research experience, Your TRS has the staff, the expertise, and the most up-to-date eCommerce market research technologies to help you navigate this process.

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