"You can't look at the competition and say you're going to do it better. You have to look at the competition and say how your going to do it differently"
- Steve Jobs
Whether you are looking to differentiate your offer, assess the latest market trends or evaluate best practices, understanding the competition is crucial to your business. Even a modest investment of time and capital allows retailers and brands of any size, to develop a framework for meaningful competitive assessments. By focusing on gathering the right intelligence on business rivals, your team can better understand how to position the brand, products, merchandising strategies and overall company in the marketplace. Not only can you learn best practices from your rivals, but just as importantly, you can also learn to avoid the mistakes they make.