Six Ways to Capitalize on New Competition
Attention Niagara County, New York gift basket designers!
On November 10, a new competitor will open their doors with a ribbon-cutting ceremony at Harrison Place in Lockport.
Read the story here, even if you’re not in that area, as the same type of story may appear in your local newspaper in the future.
It’s important to know all competitors, even if they’re not exactly similar to your firm.
For example, Costco and Sam’s Club sell gift baskets. Here’s an article about Costco and my take on their them being a competitor.
Your operation may not be as large, so in that case they’re considered an indirect seller.
If you’re homebased and learn that another local homebased business is in operation, they are considered a direct competitor, going after similar targets in the same manner you market.
If I were in the Lockport area, I’d:
These are a few of the proactive methods available to you when a competitor makes their grand opening public.
Isn’t this “can do” list better than burying your head in the sand, wishing that it was you who was hosting the event?
What was your plan the last time you learned about a competitor, and how did you carry it out?
Related articles to learn, grow, and profit:
- 9 Ways to Check Your Gift Basket Competition
- How to Learn More About Local Competition
- What’s Going on With Gift Baskets?
- How Close is Your Competition?
- Three Ways to Heat Up Summer Gift Basket Sales
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