Why You Need to Master Your Competition and 3P Marketplace
As you launch your products and continue to grow your brand on Amazon, it’s important to arm yourself against the competition. The competitive landscape on Amazon is different than a traditional retail environment you may be used to. It’s critical to understand who you’re playing against and prepare for extra layers of competition to come into play. Below we outline these layers and why you need to prepare for them.
When selling online, you can’t scope out the local competitor down the street from your brick and mortar location. Instead, you need to evaluate how your brand stands out on Amazon specifically. Once you know where you stand, you can take action to drive your brand to become the consumers’ first choice.
Competitors on Amazon are usually:
- Private labels such as Amazon Basics
- eCommerce only brands
- Major brick and mortar retailers
It can be overwhelming to think of all the successful brands you’re going up against. Brands win when they develop focused strategies against competitors and third-party retailers (3P sellers). This isn’t as easy as it sounds when your competition is already well-established, but it is possible. You’ll run into challenges if you sell on Amazon without mastering your competitive landscape and 3P marketplace. For example, brand inconsistency, advertising investment leakage, and more.
Top brands around the world dedicate resources to leverage Amazon and other marketplaces. You don’t have to be a global leader to find huge success through these channels. Each marketplace comes with its own unique challenges and ways to grow your brand. We’re here to help you succeed on Amazon and maximize your sales.