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Data is critical for retailers looking to gain a competitive edge. Not only because it can assist in optimizing your own strategy, but the right data can enable more comprehensive competitive intelligence.
The more you understand your competitors – from what strategies are working for them to where there might be holes in their offerings – the better you can differentiate and grow your market share.
In brick-and-mortar retail, the most insightful competitive data can be hard to find, especially if those companies you compete against are not public and do not need to report sales and revenue figures on a quarterly basis. Location-based data is a great resource to gain an understanding of competitor footfall and shopper demographic - we talk more about how you can be using these insights to get ahead of your competitors in this factsheet.
Read the factsheet to learn: