Tuesday, June 18, 2024

Here’s Why Competitors Open Their Stores Next to Another

Everyone wonders why competitor brands open their outlets next to each other instead of opening at some other place. Let it be restaurants, cafes, clothing outlets, or any other business, you will find the shops of the competitors in one line or accumulated at a certain place.

The answer to this prospect is attracting customers. Opening your outlet in a competitive place means you are close the competition and can attract prospective buyers. While opening your brand away from the competition, drags you away from the race of customers.

Consider it like this, when a customer goes shopping to buy a specific trouser but cannot find from one brand, the customer will definitely try to visit another brand located nearby hoping to find the desired product.

The strategy is referred to as shared marketing benefits when present in proximity. So next time you find brands opened next to each other, remember that it is not a coincidence but a business strategy.

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