How to Use eCommerce Competitor Analysis Tools For Your Business Success

Competitor analysis is an essential part of every business journey, as it provides strategists with realistic benchmarking opportunities. Whether companies are just starting out or are in the midst of expansion, it pays to conduct a competitive analysis periodically to understand the current state of the sector.

Have you heard about the competitor who emerged a few months ago? They're already generating triple your revenue from last year, with double the average order value (AOV) and a high purchase frequency. It's better to hear about it sooner rather than later so you can adjust your strategy accordingly.

Competitor analysis in eCommerce is particularly data-driven, given the digital trackability of purchasing statistics. This is why competitive analysis of eCommerce sites relies heavily on data evaluation. Here is how to use eCommerce competitor analysis services to your maximum advantage.

Why Conduct an eCommerce Competitor Analysis?

A thorough analysis of your competitors can help take your business to the next level. But why conduct a competitive analysis at all? How does comparing marketplaces, stores, and markets benefit you?

Understanding your competitors is essential to making smart business decisions. Without this knowledge, strategies are built on guesswork. You should conduct a thorough competitive analysis regularly throughout your eCommerce journey.

Forbes (1) reported that 57% of companies state that gaining a competitive advantage is one of their top three priorities.

Providing a Realistic Framework to Set Business Goals

Competitive analysis provides retailers with a realistic framework for achieving their business goals; it’s rare that someone reinvents the wheel, which is why competitor analysis hands you a blueprint for achievable goals in your sector.

Learning from others' mistakes can help you avoid common pitfalls and misconceptions in the industry. The more detailed the competitive analysis, broken down to the monthly level, for instance, the easier it is to identify weaknesses and strengths.

Let’s say the summer months are always low in the industry of your interest, then you can plan ahead by adjusting your budget, shifting marketing efforts, or introducing special promotions during that period.

On the other hand, if you notice consistent spikes in certain months, you can allocate more resources to capitalize on those opportunities. Over time, this approach helps you create a clearer roadmap and make decisions based on patterns rather than just a hunch.

Every Use Case Benefits From a Competitor Analysis

Whichever relation to eCommerce you have, an eCommerce competitor analysis service provides you with the individual facts you need to strengthen pitches, effectively understand markets, find actionable data for market intelligence and build growth strategies backed by data.

In addition to analyzing retailers, comparing markets can reveal significant differences in revenue growth, online market share, and product demand. This allows you to spot opportunities early, contrast market developments, and identify imminent crises and threats more easily.

Let’s be honest, without looking ahead into key player development and market characteristics your strategy will have a serious blind spot! Aiming blindly has never been more effective than knowing where to aim in advance, which is why a competitor analysis needs the right tools to enable a data-driven investigation that hits the mark.

What Kinds of eCommerce Competitor Analysis Tools Are Out There

eCommerce competitor analysis tools usually focus on different data points, the most common of which include easily accessible statistics such as social media presence and activity, traffic, SEO ranking and ad types.

A forum survey of businesses (2) revealed that most still manually scour competitor sites to map out their online presence, pricing, and products. This method is the cheapest, but it is also prone to missing details.

The second most common answer was using SEO software. But the same problem we discussed in the article on traffic versus revenue arises here – traffic shows buzz and hype, while revenue analysis focuses on substantial indicators.

Other common types of competitive analysis of eCommerce sites include social media and ad type aggregators. While these are useful for saving effort spent on manually browsing sites, they don't provide anything you couldn't do yourself with enough time and an internet connection.

So, here’s the gist: Rarely is there a site that provides the intel competitors don't want you to know – the content of their deepest pockets.

Introducing the ECDB eCommerce Competitor Analysis Tool

This is where ECDB’s competitor analysis service comes in. It provides tangible statistics on eCommerce businesses and markets that are not easily accessible elsewhere. You will receive statistics that businesses don't want you to have, such as revenue down to the monthly level, growth statistics, and transaction data, including AOV and CVR. Traffic is just the tip of this deep iceberg.

ECDB’s eCommerce competitor analysis interface allows you to flexibly and intuitively connect various statistics in one view. This enables you to see the bigger picture and customize your analysis.

Other tools only scratch the surface with SEO and traffic stats. ECDB goes further. Traffic is important, but it’s not the full picture – revenue, growth, and performance via transaction KPIs are what truly matter.

That’s why our system allows you to zoom in on details as specific as monthly revenue and year-over-year growth. You can even find out how often the average consumer purchases from your competitors' stores!

This level of granularity and individuality is unparalleled in the market, and the sheer size of it makes it even better. You have access to a vast amount of retailers, spanning more than 150 countries and over 70 regions, in every eCommerce category you can think of.

Heard enough? Then it’s time for us to take a closer look at the Analyze & Compare Feature by ECDB.

How the ECDB eCommerce Competitor Analysis Works

With ECDB, you can select retailers or markets to analyze and compare them across a wide range of metrics. Our interface allows you to compare up to four stores or markets at a time in a setup that is straightforward and tailored to your needs.

First, let’s look at the store comparison. It is intuitive and easy to use, giving you the flexibility to select and remove stores.

The same goes for markets. Simply choose the ones you want to analyze and add or remove them later.

Markets include countries and regions, as well as product categories. You can also select entire countries and regions, as well as worldwide categories.

After making your selection, whether of retailers or markets, you choose the metrics with which to compare them. The tool is highly flexible – you can arrange the metrics however you like or include all available metrics in one go.

This level of granularity makes ECDB an essential tool for taking competitor analysis in eCommerce to the next level.

It is highly individualized and flexible – you can always choose to switch between store and market analysis using the toggle switch icon at the top of the screen.

The ECDB competitive analysis tool is customizable and interactive. It enables you to build tailored charts and graphs to quickly shape data that fits your unique research questions. Explore, combine, and analyze ECDB’s data in a way that meets your needs – you know best.

Additionally, you can easily export your custom charts in PDF, PNG, or XLS formats to share them directly with colleagues or integrate them into your reports.

Want to try it out? If you are interested in checking out the interface for yourself to conduct your own competitive analysis right now, then don’t hesitate to book a demo with one of our sales representatives.

Your Complete Competitor Analysis, Streamlined

Businesses need a competitive analysis to know where they stand in relation to other companies in the field, else they are lost. Knowing where others are headed without losing sight of one’s strategic priorities makes it easier to set realistic goals and take a much more pragmatic approach to business.

ECDB provides the tools to make this analysis not only individualized but also grounded in reliable data. With the Analyze & Compare Feature, you gain clarity, precision, and control over your strategy.

Every insight, whether at the store or market level, supports informed and confident decision-making. Backed by one of the industry's most extensive data pools, this comparison feature enables you to move beyond assumptions and act with certainty in a dynamic market.

(1) Forbes / (2) Reddit