A retail competitor analysis is a document that pinpoints the seats of exaltation and criticism of a retail company with respect to a competitor so that the former can recapitalise on the points to beat the competition. It must be done for generous business gestures or else it may prove disastrous for the future of the company.
Sample Retail Competitor Analysis
Name of the company: Smart Casuals
Name of the competitor: Shopper’s Paradise
Retailing done in: Merchandise (garments)
Date of submission: 16th August, 2011
Name of the analyst: Rupert Garner, Retail Expert
Nature of report: The report is grounded on statistical research and numeric investigation.
Need for analysis: From a lingering decline in our sales, we presume that there is a role played by the competing retail outlet operating in the same shopping mall.
Goal: The analysis is directed at creating a holistic vision about the future of the company so that it can arm itself beforehand with private capital and aided funds to be utilised when the time is ripe.
Sale graph: A noticeable fall of sale by 10 thousand units (2009-2010) has fuelled the need for an analysis to help save the crumbling economy.
Strengths of the competitor affecting our sale:
- Surge of fashionable yet affordable clothes
- Provision of discounted sale options round the year
- Helpful nature and readiness of floor attendants in styling customers
- Appeasement with free gifts and paraphernalia
Conclusion: The Company is required to do a radical restructuring of its method of operation to match up with the standard created by its competitor.