Amazon is great in demand as the year passes. It is no surprising fact that every day, a number of sellers register themselves on the Amazon platform. As the number of sellers increases, the existing sellers need to put more effort and keep their products more competitive on the platform.

One of the best tools that helps you to gain benefits over other sellers is competitive analysis. This article will tell you about the amazon competitor analysis tool, including its benefits. 

Benefits of Amazon competitor analysis 

Competitor analysis is often a tough, time-consuming, and boring task. At this stage, there is a need for a valuable tool that saves your time and effort. Here the role of amazon’s competitor analysis tool comes in.

• It ensures the competitive price of your Amazon product
• Give ideas on how you can stand out your product from the competition
• Determines how your Amazon product listing performed well from your competitors 
• Select which product is beneficial to sell
• Fill and find the gaps in the marketplace

How to find the Amazon competitors 

Before determining the tricks of competitors that they follow to increase their sales over you, you have to find your competitors. Here are the steps you need to follow to find the competitors on Amazon

• Keywords research

To determine which sellers are competing against you on Amazon, you have to analyze the target keywords first. For instance, if you are selling a hairbrush product on Amazon, your target keyword will be words that people mostly use to search for the same. 

It is easy to determine the target keywords itself by product name. But it is suggested to use keyword research tools to get a clear idea of target keywords in the list.

• Find competitors

Once you get a list of target keywords on which you easily rank your product online, you have to find the competitors that use the same keyword to rank their products on Amazon. 

For this, you have to search every keyword and search for the product that ranks at the top of search engine results. Never browse multiple products without any need, as it leads to confusion for you.

You only need to find sellers whose products are ranked online at the top positions. Next, you have to compile the competitor’s list and repeat the same process for a keyword on your list. Ensure to perform this search on google also to find competitors. 

• Narrow down competitors’ list.

Now, it is time to narrow down the list of competitors. You have to organize the total sellers into three parts. The first part consists of the primary competitors. The second part consists of competitors that sell the same product to different customers.

The third part consists of the companies that sell products related to product selling by you on Amazon.

Conclusion

There are various benefits to using Amazon’s competitor analysis tool. It helps the sellers to find their competitors, determine which products they sell, how they sell, etc. You should follow the above ways to find your competitors on Amazon.