With increasing competition on Amazon, it's becoming increasingly difficult to find products that sell. Times like these call for more advanced and automated sourcing strategies. One such tactic is to keep an eye on what your competitors are selling.
Examine the listings where you sell products and find sellers who compete with you on at least 2-3 listings. You will definitely find such merchants, which means that most likely they buy products from the same source as you.
Then there are 2 ways to do it:
The first way: you can manually explore their storefront and find the products that interest you, especially look for the brands you guys have in common. If you competitor only has 10-20 listings, than that won't be a problem. However, if your competitors have 500+ listings it becomes very tedious to check daily whether they have new products listed. So historically Amazon sellers would hire a VA (virtual assistant) to analyze storefronts of the competitors.
The second way: you can use Amazon tools that will help you pull your competitor listings with a matter of minuties. Stripetail has a tool included in the Basic Package (Seller Investigator) that will provide all necessary information. You will be able just to paste seller’s storefront URL into the tool and download a report. Click here to see how it works.
Moreover, Stripetail developed an advanced tool Stripetail Seller Tracker that will notify you daily which listings your competitors have added to their storefronts within the last 24 hours. In theory you don't even have to review the listings over and over again. Click here to see how it works.
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Many factors that would impact your conclusion. Here are things you need to consider
Loading manual spreadsheets is a pain, and I am not happy
with off-the-shelf solutions... My sales are growing, and I want to connect to
the Amazon API and do things my own way. Why should I think twice about moving
forward?