When competition takes note of what you are doing – that is a compliment.
When competition copies what you are doing – consider that a confirmation that you are heading in the right direction.
Too often, when the best ideas are copied by larger competitors, the smaller retailers feel deflated. As there are two-sides to every coin, maybe the better way to view the action is confirmation that your nimble and responsive business is charting in new territories.
Newspaper headlines read “Many specialty food retailers are going to be hurt by commoditization” as large grocer XYZ starts selling organics, Eastern-Indian foods, etc….. It is easy to focus on product and or price, but we tend to overlook experience. Large companies in any industry are slow to react to changes and are poor at motivating their employees.
Niche retailers may be challenged by larger retailers getting better and intruding on their traditional territory, but many of these retailers have a legacy of always improving, never being complacent, constantly looking for ways in which they could be unique and raise the bar for their own customers’ lives and expectation.
I would rather think – always changing, always improving, today is day one – than thinking oh boy – XYZ retailer is copying what we are doing. Compliment and better, confirmation that your business is pointed in the right direction.