Heads Up ! your competitor is selling the same products as yours for half your price. Now it’s not that you’d envy other brands for their bigger profit or anything, but such scenarios will leave your shelves untouched.
How can you monitor their activities to stay ahead of the game?, you might ask. & the answer would be: to Monitor Competitors’ Activities.
Recognizing and maintaining track of your competitors is critical to being relevant in tomorrow's economy. This is especially crucial for companies that operate in a highly competitive field like the FMCG market. Many businesses hire specialists and sign contracts with data analysis firms to maintain track of their competitors and re-evaluate the market on a regular basis.
One common assumption is that it must be a complicated, time-consuming, and financially draining procedure, especially with the quantity of information available online. Competitive analysis is an investment, to be sure, but by investing a relatively modest amount of time and money, organizations may get incredible insight into the industry around them.
By studying your competitors, you may not only learn their best practices but you can also avoid some of their pitfalls.
ScoreCarts provides you with competitor analysis and activities reports such as their prices, locations, shelf-shares, promotions, etc… which enables you to take action and plan your next step to dominate the market.