MARKET SHARE – WHAT DO I NEED TO KNOW?

Today, businesses face a more competitive landscape than ever before. Understanding this landscape, and knowing your competitors market share and what they are doing, is critical to your success.

Ideally, you would want an accurate picture of your market share, as well as how much your competitors are selling – down to category level. You would also want to ascertain Brand market share – how much each brand is selling online through all the online channels. Finally, you would want accurate information regarding top selling products, for each retailer, down to product and category levels. The good news is that all of this is possible.

One of the big challenges is how fragmented this space is; across many retailers, brand stores, and marketplaces. There are billions of decisions being made, mountains of data being generated, and if you are not leveraging this like your competition are, you could be in trouble.

Most transactions are not taking place on your retail site, so measuring your market share is even tougher. Making things even more complicated, is trying to measure the market share and conversion of competitors.

MAKING SENSE OF THE MARKET

Making sense of e-commerce market share requires a deep understanding of complex platforms, and the interplay between brands and product classifications all the way down to SKU level. It also requires a deep knowledge of product features, reviews, pricing, and SEO.

You’re asking key questions: “What is my competition selling? At what conversion to sale, and through which channels? What is the real demand level for my products and categories, and am I underperforming?”

Market Beyond can help you answer these key questions and overcome the challenges of harnessing the data of billions of shopping decisions. We cover the entire market by looking at real shopping experiences in real time, using deep learning, big data and sophisticated algorithms.

With Market Beyond in your corner, you can measure accurate market share in any vertical, and compare this to others. Best of all, you can get analyses down to the product SKU level. These insights allow you to measure conversion rates, see views and sales, and identify trends.

ANSWERING TOUGH QUESTIONS

Which platforms are dominating the market? Who is killing it, and in what categories? Using Market Beyond, you can know exactly who has what percentage of the overall market, as well as percentages of specific categories. This can be used to set competitive KPI’s which can be reliably measured at regular intervals.

With the level granularity that Market Beyond brings you – all the way down to the product and category – you will realize your true market potential and be able to take specific actions with a high level of confidence.

In a Market Beyond study of the US Home & Garden vertical, for example, at first glance, Amazon completely dominates across the entire outdoor furniture market. However, our research demonstrated that while Amazon leads sales of Outdoor Furniture and Deck Boxes, the “Sheds” category is actually led by Home Depot.

Market Share by Host (Revenues)

MARKET SHARE

If you wanted, you could drill down further into, say, the deck boxes category. Here you would find exactly which brands and even products were the top sellers. You could further drill down by geography of buyers, by gender and by various other demographics.

Zoom out again to see, for example, top sellers across the entire Home & Garden vertical, where you will find Rubbermaid dominant

DRILLING DOWN DEEP

But it doesn’t stop there. Being able to break down the information to a specific category and product level helps marketers identify top competitors in each segment, understand on what grounds products are competing, and how well products sell versus the competition.

You can drill right down to specific products and product variations. This helps to pinpoint specific competing brands and products and compare how well your products sell versus the competition. For example, we looked into exactly which products were the top sellers in the Deck Box category, noting Suncast’s occupation of the two leading spots.

Top Sellers – Deck Boxes

Deck Boxes Top Sellers

(read the full report here)

Can you afford to be without these insights for your categories and products?

TAKING A LOOK AT A LEGEND

A final example of the flexibility and insights available to you, is the extensive work we used our Market Beyond platform for, this time with the legendary Converse brand.

Here, we looked at the fashion sneakers market in the US

First, we looked at the overall fashion sneakers market share distribution. We added another layer here, of sales, but also views. We found that Skechers leads the market in terms of sales, and Vans and Adidas come in next. Converse actually beats out the likes of Nike, Puma and New Balance.

Fashion Sneaker Market Share Q1 2017

We then broke this up by gender. What was really highlighted here was the dominance of Skechers in the female market and the smoother distribution among the male demographic. Converse holds similar percentages of the Men’s and Women’s markets.

Fashion Sneaker Market Share Q1 2017 – By Gender

We mapped out the leading brands’ most popular products, such as Skechers’ D’lites or the Adidas NEO. The insights and learnings were incredible, including buy-to-view data showing Skechers’ impressive conversion rates among women shoppers (compared, say, to Converse across both men and women).

Popular Products by Leading Brands

We then looked at “Shoppers Who Viewed Converse Also Viewed”, showing competition ratio’s, and associated brands. In this case, Vans featured strongly among female shoppers and very strongly among male shoppers, proving to be strong competitors.

Shoppers Who viewed Converse Also Viewed…

Digging even deeper, we looked at “Shoppers Who Viewed Converse, Purchased…”, with some surprises here. Loyalty to Converse was high at 90% and 75% for women and men respectively, and competition again coming from Vans, Keds and Adidas.

Shoppers Who Viewed Converse, Purchased…

 

We also looked at individual products competing with Converse. For this and other interesting insights read the full report here

GAIN AN UNFAIR ADVANTAGE

These are just some of the insights generated with Market Beyond’s accurate, real-time, product-level insights that provide unprecedented intelligence to enable actionable decisions and to better understand the entire space. Get the power to act quickly and accurately. Use Market Beyond to be perfectly equipped to lead the market and stay ahead of the curve.

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