To sell profitably online, you'll need to know what your competition sells, how competitive sales for these products are, what share of the market is owned by top sellers, and which listing strategies have proven effective.
This tutorial shows you how to use Terapeak to research a particular competitor's products, as well as the competitive landscape and top sellers for each product. You'll learn to:
Study the competitive landscape for any product
See detailed sales data for the top twenty sellers of each product over any time period
Know how much of the market for each product has been captured by top sellers, individually and as a group
Study the listing strategies that are driving the most success for each product
Study the products being sold by particular competitors and their sales potential
By studying data for multiple products from each seller, you'll also be able estimate how important any particular product is for a sellers' overall businesses, and how profitable it could become for yours.
Ready to get started?
Research a Competitor: Study a Product Line for Potential Hot Products
Open your web browser and perform the following steps to research a particular competitor's products.
Then, move on to the next section to see how to use the search data Terapeak returns to build a picture of the competitive landscape in your niche, or for a particular product.
Open eBay's advanced search tool. Visit the eBay website and click on the word "Advanced" to the right of the Search button to start eBay's advanced search tool.
Click on "By seller" in the left sidebar. Click on "By seller" to open eBay's seller search tool.
Enter an eBay Seller ID. Enter the eBay Seller ID of the seller whose product line interests you and whose products you'd like to research for sales potential and competitive pressure. Note the additional filters and options that enable you to search for completed listings or to change the way in which results are sorted.
Find a product offered by the seller whose competition level, sales, and top listing strategies interest you. Make a note of the listing title and keywords so that you can enter them into Terapeak.
Log into Terapeak and start Product Research. In another window, log into your Terapeak account and start the Product Research tool.
Search for the competitor product you'd like to study. Enter the listing title or keywords you found for a product whose competitive landscape you'd like to study.
Use What You Find: See Product Demand, the Top Competition, Their Market Share, and Their Best Listing Strategies
Once you've found an interesting product offered by a competitor and searched for it using Terapeak, study its competitive landscape and learn from its top performers by switching between these three Terapeak views:
Top sellers view:
Competition, highest ranking sellers, and their sales metrics. Once your search results are displayed, click on the top sellers view icon in the Views bar (it looks like a silhouette) to see a ranked list of the top twenty sellers for this product, their sales, number listings, units sold, average sale price, and sell-through rate. These results show just how much unit and dollar volume the top sellers of this product generate, and how pricing and listing frequency relate to sales success.
Total market size, sales potential, and the market share of sales leaders. To get a sense for just how much of the market for this product has been captured by the top twenty sellers, click on the high-level overview icon (it looks like a spiral notebook). There you'll see the total sales figures and other statistics for all sellers combined over the same period—and you can compare these numbers to the numbers for each ranked seller.
Best listings and listing strategies. Click on the listings view icon (it looks like a list) to see individual sales and the listings that made them. Click "Total Bids" and wait for results to appear, then click again to show the most successful listings first. Also notice listings that appear repeatedly. Both kinds of listings are outperforming others on eBay. Click on a listing to view it and study the strategies that have made it successful—then adopt these strategies as your own.
Your Competitors' Products and the Competitive Landscape
Using this workflow, you'll be able to see what your competitors sell, how well these products sell, how much of the market top sellers hold, and what their most effective listing strategies are.
In short, you'll be able to build a bird's-eye view of the competitive landscape in your niche.
Research a full year of online sales in detail for any product or keyword—average prices, sell-through rates, top listings, and more. Try Terapeak Professional today!