Once you know your primary competitors, you need to then look into your secondary competitors. More often than not, brands only pay attention to their primary competitors, because there’s an assumption that others won’t have a big impact.
But in today’s increasingly fast-paced environment, your secondary, distant and indirect competitors can be your direct competitors at any minute – so it’s still essential that you keep a close eye on all of them.
In this article, we will guide you on how to identify secondary competitors.
Step 1: Identify key attributes
First, you need to identify your key attributes. As an example here, we used Zara and analysed their key attributes for the neckline.
We chose the V neckline as not all brands have this attribute, if compared to boat necklines.
Step 2: Find secondary competitors from brand filters
In the same module, remove the retailer’s name, but include a similar price range.
You can also analyse another market with the same filters. Here, we chose Australia to spot secondary competitors.
By identifying other key players offering similar products yet targeting different demographics, you can stay competitive within the wider market.
We hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.