Knowing your competitors' pricing, brands carried, sales promotions, and selling strategies is vital for independent retailers. Knowing this information will allow you to set better prices, choose appropriate inventory, schedule sales promotions, and emphasize certain aspects of your store's operation.

The only way to acquire this information is by actually shopping the competition to find out what they are doing.

Use the Retail Store Competition Shop Analysis form to help you manage your findings and to compare them to how you run your store.

Includes:

• Merchandise comparision
  
  
• Brands carried
  
  
• Sale comparison details
  
  
• How and where marked down merchandise is displayed
  
  
• Advertising and marketing comparison
  
  
• How customer list is obtained
  
  
• Staffing training and product knowledge comparison
  
  
• Customer service policy comparison

The Retail Store Competition Shop Analysis worksheet is available in the Microsoft Excel (xls) file format. You must have Microsoft Excel installed on your computer to use this worksheet.

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