Are you interested in potential competitors that you can follow? Using the Discovery feature, you can gain insight into the similarities and differences between you and other webshops, and you can examine pricing in more detail.
How to track down potential competitors using the Discovery feature
First, navigate to the Discovery page.
You can access the list of potential competitors on the left-hand block. In the preview, you will find the top 3 competitors with the highest "competition" rating compared to you.
The rating depends on the following variables:
- Number of common products
- Your average price
- Competitor average price
- Number of products that are available only at you but not at your competitor
- Number of products that are available at you but not at your competitor
If you click on one of the competitors, you will be redirected to the "Discovered products" page. Here, you can examine that within a given category:
- How many products do you have in common with your competitor
- What's the difference between pricing - how much cheaper or more expensive is your competitor compared to you
- Number of products that are available only at you but not at your competitor
- Number of products that are available at you but not at your competitor
- Sortiment value - this shows the percentage of common products of the overall range between you and your competitor
If you select a category from the catalog, you can take a more in-depth look into the differences in pricing and products being sold.
You can also add new products that you would like to monitor by clicking on the plus symbol.
If you navigate back to the Discovery page and click on "All" by the "Potential competitors" keyword, you can view the complete list of suggested and current competitors. You can access the details we have already taken a look at by clicking on any competitor. If you would like to follow the competitor, click on the "Add to competitors" button on the right-hand side.
