Competitor Catalogue Analysis in E-Commerce

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Welcome once again to this special training program of Learn Vern, where we are learning “How to sell effectively on E-Commerce?” where we recently saw what is a catalogue? You must have physically seen a catalogue. Previously we saw a few examples of catalogues.

In the last session, I showed you different kinds of catalogues in e-commerce and what is catalogue? So, we understood this and learned many more things like content.

I would like to tell you one more thing here. So, when you look at the content you have to focus on one more thing which is “competitor analysis”. This means you also have to check the content that your competitor is adding, yes what content has your competitor added? through which you can also create a more appealing catalogue of my products.

Now, what is competitor analysis? So, first of all, you have to analyze who your competitors are. How will you know your competitors?

Well, it’s very easy and simple. What do you need to do? No matter how many platforms you go to, wherever you are, whatever platform you are going into, you just have to search and analyze who has listed that particular product?

For example, let’s say you are selling a computer and when you type computer, you will get a whole list of the dealers that are selling computers on that platform.

You will know who those dealers are, at what places they are selling their products. You can see the dealer’s details including all the platforms that they are using to sell their product, through “google” or any other search engine.

As you get to know that this XYZ is your competitor, check him out.

So, when you check and analyze your biggest competitor, what things do you need to check? how have they catalogued their product? Yes? How have they catalogued the product? Okay. What will happen by doing so?

You might wonder, what will be the outcome? Well, you will get a rough idea of where to start? Yes, you will get a rough idea that I have to make a catalogue but sir, I don’t have many ideas right now. But when you analyze your competitor, you will definitely get an idea that yes, they have done this, I can do the same thing differently.

So before showing you this practically, I would like to give you a personal example. So, I had a student who wanted to launch a new product. Now, he was confused about where and how to start? How should I make a brochure? What should be the company’s logo? How to market the product in the city? So, we sat down and discussed many ideas and thoughts and we also did some analysis. In the end, we got the idea where we decided to collect the brochures of every competing company. So, what did we do? We hired a person and instructed him to go to every competitor's office and pretend as a customer and collect the brochures for us. So, that person went to every competitor and collected all the brochures for us.

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Well, we had 10 brochures in our hands. What we did was, we collected different information from different brochures and mixed it up a bit and created a catalogue. Well, this example is from the time when we had no idea about these things and we wanted to promote a product and promoting the product online was not an option. So, we traditionally did the competitor's analysis and used the old school method.

In the same way, what do you have to do? You also have to visit your competitor's website. You can either visit the website or the platform they are using to sell their product and check it out. What do you have to check?

So come let’s have a look at this practically.

Now, suppose let’s say this is your competitor. You are also an apparel dealer. You also make Kurtis and ladies’ wear. So here you can analyze all the things like, how has this person captured a photograph? What is the background for the image? What camera is used? You can see, they have captured an image from a few different angles. By this, I will get an idea and I will note it down. Yes, I also have to shoot from these angles. Here they have not uploaded any video. But suppose let’s say, the same competitor has added a video here.

If you remember I showed you this example in the previous video as well. Here they have uploaded a video as well where a model is displaying the product with each and every little detail by wearing it herself. She is portraying how to wear the product? What are the special features of this product? What are the pros and cons? So, they have prepared a genuine video. Okay.

So can i do something like this for my product or cataloging as well?

So, you can analyze and decide if you can also shoot a video for your product and catalogue. Is the content giving me any ideas? Or can I get a few ideas by the way they have displayed the information in front of the customers? So, analyze. If the competitor has put on some extra content, you also have to add some similar content.

Never copy the same content. Look. Try to keep this one thing in mind. Don’t ever copy the same content, rather just get a few ideas and write the information on your own. Also, some of the information is mandatory for all the products such as the size, color, weight of packaging and a few other extra details that you have to mention.

You may have to tell the things in very detail.

Now, look, when you sell this product physically, at that time you don’t have to mention each and every detail verbally as the customer can analyze and read the instructions by themselves but here, when you sell online you have to focus on every small detail and focus on the content as well. Well, you can get the best of ideas from your competitors.

For example, let’s say you are dealing in the furniture department and your competitor has written a very good headline and the price is also really good. Then in images, they have added different views like 360-degree view and 3D view. By this, you can get the idea that if your competitor is using all these advanced things then you will also have to keep up with it to stay in the competition. So, what are you gaining from here? Well, you can get some very good ideas. You can also analyze all the services they are providing like an “EMI option”, then “36 months warranty”, “easy return” etcetera.

What is the kind of service and information they are providing that the customer keeps choosing them to make all the purchases? Okay. So, we have to analyze.

Well, if you deal with this particular category of product, you will see there is tons of information added here. Have a look. As you scroll down, you can see they have also provided some information regarding their factory such as the “production” area, “warehouse”, “packaging” and “inspection”. You can see all kinds of information here.

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This is Alibaba’s website where they have portrayed the information of the product very nicely. They have displayed the information in a very decent manner and a simple language. I wanted to show you the example from this website anyways for this particular video.

You should also go and check out this website at least once and analyze how beautifully they have displayed all the information in detail.

What idea will you get from here? Well from here, you can analyze that when you are selling your product in bulk, this is all the information that I also need to display.

You may wonder why? Well, the simple answer is, because your competitor is doing it. If your competitor is doing it, you should do it too. Why so? Well, if you don’t keep up with your competitor you may fall out of the market.

You need to understand how your competitor is running a successful business and do the same thing but never copy. I am saying this one thing again and again. Never copy anything as it is, rather take some inspiration and ideas that yes, if they have done it, we can also create something similar with a different perspective or pattern so that when the customer comes in the market and buys our product, they will not be disappointed. Yes. They will not be disappointed that okay, your competitor was offering something else and you are offering a different thing.

Always stick with your profit. (I hope you are following)

Just stick with your price even when you are gaining more profit. I already explained the whole module related to pricing. If you missed that, then please go and check it out.

Well, friends, I would like to tell you that a product catalogue is very essential. Product catalogue means what is seen is sold. (Jo dikhta hai vo bikta hai). (repeat)

Well, yes, you have to display everything very nicely. You have to portray your product in the most appealing way. Okay.

I hope you understood a few things and got some ideas. I tried to explain everything with a few practical examples. I hope I have cleared a few of your doubts.

If you still have any queries or comments, click the discussion button below the video and post there. This way, you will be able to connect to fellow learners and discuss the course. Also, Our Team will try to solve your query.

So, see you soon in the next video with some new content.

Okay.

Thank you very much. See you right there.

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