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How to Conduct Consumer and Retail Market Research

Alpha Sense BI

The consumer and retail (C&R) industry is evolving rapidly due to a combination of new innovations and technologies, shifts in consumer preferences and behaviors, and macroeconomic events hindering sector growth. To stay competitive in the current economic climate , companies need to conduct comprehensive and efficient market research.

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Engage3’s Price Image Management Suite Recognized as a Leader in Price Optimization by Both IDC and Retail Today

Engage3

. – January 18th, 2022 – Engage3, which helps retailers and brands profitably grow revenue and drive store trips by tracking and optimizing their Price Image, today announced independent analyst recognition for its Price Image Management Suite. Engage3 is one of only two vendors to be featured by both IDC and Retail Today.

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Instacart Looks for a Fresh Perspective [Agency Pitch Series]

Similarweb

The competition is likely fierce, so it’s essential that you have a competitive advantage. . Benchmark against direct competitors. Positioned in between big name retailers and popular delivery services, Instacart’s market is extremely competitive. . Benchmarking against direct competitors of Instacart.

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How to do competitive market analysis in 10 steps

ATTEST

For example, do they sell through third-party retailers or only direct-to-consumer? It gives you an instant snapshot of the general sentiment towards the brand and is a metric you can benchmark against. Just because a brand is present on lots of platforms, it doesn’t mean they’re really using them to their best advantage.

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How to do competitive market analysis in 10 steps

ATTEST

For example, do they sell through third-party retailers or only direct-to-consumer? It gives you an instant snapshot of the general sentiment towards the brand and is a metric you can benchmark against. Just because a brand is present on lots of platforms, it doesn’t mean they’re really using them to their best advantage.

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Differentiation Strategy (and the Sea of Sameness)

CXL

The more competition, the stronger the commitment to differentiation should be. Constant comparison and benchmarking leads to conformity, and competitors become less differentiated over time. Walmart and Southwest have used pricing as differentiation, but they have the structural advantage to do so sustainably. Reverse brands.

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