Competitive Intelligence

Dear Outsourcer: One of the more important things that can be gathered is information on the entire “shopping experience”. For example, is there adequate signage to help the buyer find the goods he/she is looking for? What products and brands are on display and how are they displayed? Does a sales person ask you if you need help finding what you’re looking? Are the salespeople looking after clients or doing other work? Are there enough sales people to adequately serve the customers? What brands do the sales people recommend (thus indicating the brand or brands that are being promoted)? Are the salespeople knowledgeable and willing to help a customer? What kind of people are shopping at the location? Are they same kind of people that appear in the competitor’s ads (indicating whether or not they are successful at reaching their target audience)? Is there any cross-selling taking place or recommendations for accessories? Are the prices for specific brands similar at that location as they are at locations nearby? Are there many sales taking place, indicating that the competitor is either clearing inventory or is having trouble selling its products?

In short, a visit to a competitor’s retail location can help to determine how successful a competitor is in selling its products and serving its intended market. It reveals the strengths and weaknesses in a competitor’s sales and marketing strategy, and can indicate whether the competitor will be successful or not.

As Yogi Berra once said : You can observe a lot just by watching