The retail landscape is more volatile than ever before. Okay, this isn’t exactly news, but one development which has given a lot of brick and mortar retailers pause for hope is price tracking. This isn’t the secret shopping programs from the 1950’s and 60’s. Instead, this is price tracking utilising advanced technologies such as artificial intelligence to give traditional retailers the help they need to thrive in an omnichannel world.
Almost all businesses have competition.
Even if your idea is super-unique, crazy hard or pretty mysterious like the Antarctica’s Blood Falls, you are not immune to competition. Someone will follow your lead and try to beat you at your own game.