In a way, the retail environment has become saturated and challenging for industry bigwigs as well as new entrants.
Every business is facing mounting price pressure from discounters and improved price transparency. Conventional differentiation methods that held so strongly — such as a distinct product or competitive pricing — are not as efficient as they once used to be.
However, that doesn’t mean differentiation is impossible.
It can still manifest itself through personalized approaches where retailers design tailored experiences for individual customers. Such personalized experience, that can become tough for competitors to imitate and enable businesses to gain a sustainable edge.
