Harnessing Retail Competitive Intelligence: Tactics for Beating the Competition

Competitive intelligence is the practice of collecting and analyzing data about a company’s competitors and market trends to create a strong, actionable strategy. Retailers can use CI tools to gather vital insights into competitors’ pricing, products, and customer segments. This process involves delving deep into the competitor’s business operations and uncovering details such as their customer base and market presence. By utilizing competitive intelligence, companies can adapt their business strategies, refine their marketing approaches, and stay ahead of the competition.