Why is Competitor Benchmarking Necessary & Mystery Shopping for Benchmarking
We have already been familiarized with the concept of mystery shopping and its significance for Brands and Mystery Shoppers.
If you haven’t read the previous article, please visit the following link(link to be inserted of the previous blog) to get acquainted with the upcoming topic.
When we talk about Competitor benchmarking, we compare the products and services of one’s own brand vis-à-vis competitors.
Why Is Competitor Benchmarking Necessary & Mystery Shopping For Benchmarking
If you are a brand with a chain of stores, you probably will be operating in a very competitive market. To stay ahead in the race of competency, we have to analyse the competitor’s measures along with ours.
Keeping in account how your store is performing and whether all the protocols and services listed are rendered or not is necessary.
But using Mystery shopping for competitor benchmarking helps you identify their strengths and weaknesses. Getting to the weak point of a competitor and making it your strength can prove to be a boon if implemented properly.
How to achieve Competitor benchmarking?
1.HS Brands with its global reach and expertise for Brand refinement may help you achieve your goals.
2.No matter where your store is located, all throughout Asia, we have locals to handle the endeavour.
3.The mystery shoppers from HS Brands will visit your competitor’s shop and scan every nook and cranny.
4.All the aspects of the business from customer service to product displays will be scrutinized and audited. The final result will be carefully refined and presented at your disposal.
The type of products, the people employed and the services deployed, change according to the regions. Knowing how to fathom these aspects within the diversity will be a major boom to the store and consequently your brand.
Know what is lacking for you, weak areas of them and ultimately improve yours for the better. Learn where you stand within the retail market and win the race of competency with
ABOUT THE AUTHOR
Managing Director, HS Brands Asia
Sanjeev Shenoy has 15+ years’ experience in mystery shopping and customer experience and has helped several global brands design and manage programs across Asia. As a post-graduate in Management, he has worked in Marketing & Operations across retail and food and beverage. As a believer in the beginners’ mindset, Sanjeev seeks to bring in innovation in the mystery shopping industry through technology and best practices from other industries.