Do you feel confused when setting the price for new products on Lazada and Shopee? Or are you trying to come up with new voucher ideas and combo deals? This is one key area where doing your competitive analysis can significantly help.
Today let us explore how to keep track of your competition to stay one step ahead of them.
1. Start by Identifying your competitors - You can easily do this by searching for your main product keywords on Lazada and seeing who else is showing up on the first page.
2. Create an excel sheet with these competitors listed out.
▶︎ Units Sold
▶︎ Search Keyword
▶︎ Seller Name
▶︎ Ongoing Vouchers
3. Track your competitors from time to time, especially during campaigns, and take note of their prices, sales, and reviews.
After tracking your competitors, learn to adapt your strategies to match and compete! - Whether creating new promotions or adjusting your pricing, now you know precisely what is working in the marketplace and what isn’t.
Also, check our blog on "5 Shopee Seller Tips that can Land you your First Buyer Today