Amazon seller competition is heating up! And this creates difficulties when you want to make money starting from the scratch, isn’t it? Let’s figure it out!
Sellers from all over the world DO trade on Amazon. And you have to compete with entrepreneurs from all over the world. But there is a very important nuance.
The vast majority of sellers who come to Amazon are not professional sellers.
They come to Amazon because they heard that Amazon is the largest marketplace in the world. Most of them started business there but do not want to develop. They just think that this is some kind of trendy platform with a huge amount of sales where you can make money easily! But this approach is absolutely wrong.
That’s why you are competing only with those sellers who are professionally engaged in business on Amazon, and there are not very many of them. You will easily bypass most of the sellers who came to Amazon for no reason, and you will only compete with professionals.
Amazon seller competition
First, although there is a lot of competition across all Amazon, there is a huge number of niches with practically no competition.
For example, if you want to open a coffee shop, then you will not look at how many coffee shops there are in your city? You will only be interested in how many competitors you have in one specifically selected location, and the rest of the coffee shops in your city will not compete with you in any way. It’s the same with Amazon businesses.
The competition is great. But there is a huge number of niches, and a huge number of options for various products in which the competition is minimal and absolutely fit-in.
Second, there are about 30 million sales on Amazon every day.
According to the latest data, this figure is even higher. But, come on, can you imagine 30 million sales per day? It’s awesome!
People talk about competition as if they want to take all those 30 million sales for themselves. In fact, if you make, for example, 10 sales per day with a net profit of $ 10, then you will already be earning $ 3,000 per month.
You don’t need millions of sales, you need roughly only 10 sales per day to make good money. There are a lot of niches where this can be done without much competition. And of course, healthy competition has never hindered anyone, because competition only pushes the business forward.
It certainly doesn’t make sense to dive into super-competitive niches, but you can always find a niche to go with your budget.
The point is solely in choosing a niche and choosing a product for sale, it is at this stage that you already weed out your competitors. And even now, if you look objectively, there is not a single business in the world without competition, if a business is without competition, then this is an unnecessary business, in which there is no money.
In places where there is money, there will always be competition, and the more money in the area, the more competition there will be.
Running away from competition is simply stupid, you need to try to become a little better than your competitors, and then you will not have any problems.
Whether Amazon seller competition is heating up?
In some niches, the competition is really big and it is almost impossible to enter them. But if you dig a little deeper and search, you can find tens of thousands of different niches with great demand, which you can enter with the most minimal competition.
Everything is exactly the same as in any business, there are niches in which there is huge competition, there are niches where there is practically no competition so far. It all depends on the approach. But the main thing is not competition at all, but the number of potential customers that Amazon has. Amazon definitely has no competitors and it is necessary to concentrate on this. with competition it is possible to make a large number of sales.
Amazon founder Jeff Bezos says that you should not pay attention to competitors. You just need to make a quality product and meet the needs of customers, then everything will be fine with your business, regardless of the presence of competitors. Well, you can make conditional 10 sales per day with a profit of $ 10 on Amazon in a huge number of niches.
How to bypass all your competitors?
Simply analyze them!
Often, you can get all the information about the desires and preferences of your customers by analyzing the listings of competitors.
To be successful in any business, you need to know your competitors. The same goes for businesses on Amazon. Often, you can get all the information about the desires and preferences of your customers by analyzing the pages of competitors. In addition, regular monitoring of other people’s products has a positive effect on your own advertising opportunities and production practices.
What do we have to do:
Read reviews, questions and answers on competitors’ pages
Customers usually know what they want, and their feedback will help you improve your product or generate cool ideas. Customers say the product packaging is too bright? Pack your product in pastel colors. Customers don’t like the price? Think about how you can offer them better terms than the competition.
Follow the updates
Write down how often competitors update content, images, or make other changes. Do they use seasonal photography (cycling in the summer, cutting pumpkins in the fall)? Is their information clearer about the benefits and uses of the product than yours? How often do they change prices and how does this affect their rankings?
Evaluate which of the sellers you can work with
This is suitable for complementary products (such as memory cards and cameras). The point is that you need to find opportunities for mutual advancement. To do this, look at the reviews of your customers. Among them may be those that talk about the products that prompted them to purchase your product. Use such reviews for your own purposes. Consider whether it makes sense to target keywords from the categories of those products.
Act fast
If you see that a competitor is out of stock for a product, use that. Moments like this are the right time to cut prices and/or increase the amount of ads. If you see reviews on competitors’ products are growing faster than yours, try to figure out why.
Look for innovative ideas and implement them before your competitors do.
Why are people afraid of competition?
The only option why you can be afraid of competition is your unwillingness to develop and get better. Such people usually spend their entire lives looking for the niche where you can easily and quickly make money, and as a rule they do not find anything.
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