Doug Toppin's Blog

My thoughts on technology and other stuff

Trying to Match Your Competition or Trying to Find a New Set of Customers?

The neighborhood Bloom grocery store closed a few months ago and a Lotte international style grocery took its place. Lotte is almost continually busy so it is interesting to see the difference that their stock choices have made to their business. The lesson is likely to discern and meet the needs and desires of the people that might be your customers. I should note that there are a number of differences in what they stock from what Bloom did. The one that is probably the most noticeable to me is the cereal aisle. Bloom had the typical vast selection which took up all of one side of an aisle. Lotte has significantly fewer choices freeing up all that space for items that are in demand from the people that are now filling up their store. From a competitive strategy aspect the import point is that you can model your products to match what your competitors have (such as Giant and Safeway in Bloom’s case) or you can model your products to meet the needs of the people that are not being served by your competitors and find a new market.

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