To thrive in the marketplace, a business considers all crucial factors and works on them, be it internal or external. External factors that influence business activity are not in the business’ control. However, with proper homework, a business can efficiently deal with them and in fact, use them to its own advantage.
Of the several external factors that exist in the corporate world that influence business activity, one is competitors’ activity. Businesses monitor their competitors’ activities and responses closely to act accordingly. To do so, they analyze competitor data like their spending on Research and Development, their market share, their prices, etc. All of this comes under the umbrella of competitor analysis.
You might knit your eyebrows as you continue to read that as part of its competitor analysis, a business can use some modern-day tools to find its competitors’ manufacturers. Getting hands on such data means that a business can compare and analyse the costs, get supplier information, and even confirm the marketing claims of its competitors.
Let us now have a look at the different intriguing tools that assist a business find its competitors’ manufacturers.
ImportYeti is a free tool, as of now, for its users to search through its database of over 70 million suppliers. This website is a venture of David Applegate who initially was running a site named as WrestlingMart.
In the quest of figuring out from where his competitors were getting the products, he was manufacturing; instead of going with the tedious method of going through the records manually, Applegate developed a website named ImportYeti – a tool that makes the same process a lot easier and time-efficient.
ImportYeti helps you find your competitors’ manufacturer by searching them up in its database that consists of Bills of Lading and other shipping documents that help you trace back to the competitor’s manufacturer you wish to look for.
All you have to do is just enter the name of the correctly spelled name of your competitor on the website, and the rest is ImportYeti’s job!
This tool has a rich database that includes all the shipment records of any US Imports, coupled with the shipping information on countries like Russia, China, Brazil, etc. ImportGenius’ data dates back to 2006 and is regularly updated with the information received directly from the US Customs.
This tool is very useful to find your competitors’ manufacturers, as long as they are importing the supplies.
The tool allows you a free trial but later activates a payment plan with three categories namely – Starter Plan ($149/month), Plus Plan ($199/month), and Premium Plan ($399/month). The difference in the charges reflect the change in the amount of import and export data that will be made available plus the number of searches permitted for a day.
ImportKey is an easy-to-use tool to find your competitors’ manufacturer. All you have to do is head over to the ImportKey Dashboard and enter the legal name of the competitor you want to know the manufacturer of.
You should bear in mind that you search it up after applying the “Buyer” filter. ImportKey will then display the Top five suppliers of the competitor you searched up along with their top products that they supply.
This tool not only helps you “find” your competitors’ suppliers/manufacturers, but also provide you with a list of other businesses that use the same supplier. Hence, you might know of only one competitor, but ImportKey will give you a check of more competitors that co-exist with you in the same marketplace.
As far as the payment plans are concerned, ImportKey has three options of Monthly, Half-yearly, and Yearly subscriptions –each of them having three distinguished plan options i.e., Startup, Business, Enterprise.
JungleScout is another tool to find your competitors’ manufacturers if you and your competitor trade in Amazon FBA products. This tool enables you to locate your competitors’ manufacturers in four basic steps.
- Log into your JungleScout account.
- On the sidebar displayed on the left, click on the “Find Suppliers” option.
- Enter the product name or the legal name of your competitor on the search bar.
- Your supplier data base is ready to view.
This feature comes free of cost with the regular JungleScout subscription for its users. This tool also gives you the top customers of the supplier that also supplies to your competitor.
JungleScout is an exciting tool to use if your business activity relates to Amazon FBA products, as along side the Supplier Search feature to find your competitors’ manufacturers, it also has features like Product Tracker, Niche Hunter, Listing Builder, etc.
Panjiva is again a data trading entity that collects export and import data, shipping data to be specific. It collects this data through reliable sources like US Customs and service-based agencies like ZoomInfo and Kompass, that sell data for commercial purposes.
The information collected from different sources is then accumulated which is then used by the interested stakeholders of international trade.
This tool has shipping details of countries like the US, China, Brazil, Panama, Peru, Chile, etc. Panjiva is an equally great tool to find your competitors’ manufacturers as it has shipping data of over 700,000 companies spreading over 20 million transactions, as of yet.
Panjiva also provides the contact details of the suppliers that appear as a result of the search, along with their trade volume and the products they supply.
This tool is free of cost; however, you have to pay if you want the details to be shipped to you.
Owing to increased globalization, the flow of information being traveled has accelerated and needless to say, has become more efficient. The days are gone when a business would have to manually surf through details to figure out who could be its competitors’ manufacturer. Even the method of searching suppliers on Alibaba collectively sounds outdated now, given the advanced tools that we have now. Keeping in mind the ever-increasing pace of development, it only intrigues one to wait for what’s more to come in the future!