eCommerce companies

What successful eCommerce companies gather about their competitors

You can discover winning sales patterns of specific products, niches, and stock volume by analyzing a large amount of eCommerce companies Web data crawling. This type of workflow results in real-time identification of the top-selling products. This blog will list the top 8 data points successful eCommerce businesses collect about their competitor

1. Word count of winning item descriptions

For eCom marketplace categories related to fashion, listings with average word counts of 304 words had the highest STRs. A listing in Home & Garden with a high STR averaged 397 words per listing.
The takeaway from this data point for e-commerce firms is to collect data on top-performing listings in your niche and match your description length to that of the best-performing competitors. The next step would be to analyze the content of these listings using Natural Language Processing (NLP) and then attempt to replicate the value provided to shoppers in your listings.

2. Choosing the right number of ‘item-specific’ fields

According to eBay statistics, products in the ‘fashion’ category with the highest Sell-Through Rates (STRs) had an average of eight ‘item specifications’ fields filled out. ‘Home & Garden’ had a score of 10 (25%) higher.
Taking this data into account, an eCom-focused organization would need to select the exact number of item specifications for each category they sell in. They may also add another layer by gathering the same ‘item fields’ that high-converting competitors use and implementing them in their listings (e.g. model, make, colour, etc.).

3. Analyzing entry thresholds based on geography

The analysis of 232 million eBay listings by Title Builder revealed helpful information. eBay Germany has the highest Sell-Through Rates (STRs) of 38.3 per cent (i.e., an item listing that generated at least one sale). On the other hand, eBay Australia has the lowest sales-to-listing ratios (i.e., at least one sale per listing) (27.8%).
Based on this data point, the conclusion for an eCom-focused business is that entry barriers for new sellers are higher or easier on the German version of the site, suggesting that it may be a good market to start with for rolling out new products or for new sellers. The Australian market is extremely crowded, so it’s best to avoid it. Simply by itself, this knowledge can help businesses avoid complicated markets and profit from others that provide greater opportunities.

4. An effective text-to-visual ratio

There was 67 per cent of listings with both text and visuals in ‘fashion’ categories, while 33 per cent had just text. Twenty per cent of listings in the ‘Home & Garden’ category had only text, while 80 per cent featured both text and graphics.
Based on this information, an e-commerce company would conclude the highest STRs showed that 67% had both text and visuals, while 33% were text-only. Twenty per cent of listings/vendors in the ‘Home & Garden’ category were text-only, and 80% hadrons. Companies may improve conversion rates by determining what visual to text ratio works best in their business and the types of visuals/copy that work best.

5. Track through social media platforms

Discovering who your competitors can be done by searching social media sites. People are more likely to post their comments or reviews on social media than on a review site or blog post, so this is a great strategy.
You can find out what they are up to by visiting their official Facebook pages and social media accounts. Can even subscribe to their newsletter. You can search for the company’s name on any significant social media platforms to see if anyone has mentioned it.

6. Understanding what shoppers look for when it comes to ‘item condition’

It is also worth noting that nearly two-thirds of items sold on eBay are classified as “used,” while only one-third are classified as “new.”.
This data point suggests that for eCom businesses, understanding the current market demand for ‘item condition’ is vital when deciding what channels to sell on and what consumers are looking for. Web data can be used to determine supply and demand, allowing you to develop a product line and marketing plan that suits a specific market.

7. Identifying the product categories with the highest sell-through rates

Another takeaway from the study mentioned above is that health-related items (87.66 per cent) and fitness equipment (82.13 per cent) have the highest Sell-Through Rates. eCommerce companies The lowest STRs are found in diamond engagement rings (3.41 per cent) and adult t-shirts (3.43 per cent).
Based on this data point, it can be concluded that health and fitness-related items sell quickly because they are in high demand, and there is a high level of trust among online consumers. A closer look at diamonds and jewellery and some apparel items can help a firm decide whether or not to launch a new product line through its online channels. The proof of concept (POC) helps businesses avoid dips in performance by saving time and money.

8. Compare inventory levels

Identify your competitors by checking the retailers with comparable inventory levels. If you scroll down to the bottom of the page on a competitor’s website, you can see the current inventory levels.
By examining the recent sales, you can also determine which products customers prefer by analyzing the number of reviews. They will attract customers who are price-conscious and switch to the retailer that offers the best deal.

Conclusion

A definitive response is frequently demanded by vendors. You should focus your sales efforts on product ‘X’, which is the best-selling item. In reality, however, it is far more complicated, which is why online data can be used to analyze your market, niche, and competitor.
You can use web data in the following ways:
  • Make the ‘best’ item listing by including the right amount of ‘item specifications fields,’ an acceptable description word count, and a ‘text to visual ratio’ that resonates with your target audience.
  • Stocks should be kept for items in a condition that meets customer expectations.
  • Find the item categories that have Sell-Through Rates that meet the requirements of your business model.
  • Make sure the online marketplace you choose has a sufficient entry threshold. eCommerce companies
Using a web data harvesting technology, which searches the internet in real-time for relevant data, these issues can be assessed and answered. Scraper API is the solution for delivering the data described above in an automated stream from digital commerce websites.

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