"Competing products" refers to goods or services that are similar and try to attract the same customers or fulfill the same needs. They are in direct competition with each other, fighting for the attention and choice of consumers.
As a shopper, you have the option of doing comparison shopping where you look at quality, ease of use, and price of competing products. (babyseats.reviews)
I don't view the two as competing products, but I agree that e-book readers need to be less expensive before anyone gets the kind of market share they want. (bookbuzzr.com)
There are many other competing products on the market today. (babyseats.reviews)