When products compete, they get better

Itโ€™s true ๐Ÿ‘‡

Healthy competition is important for your industry and your customers.

A quick story ๐Ÿ“–

My sister and her family lived down the street from two convenience stores โ€” Triple A Convenience and Pizzeria, and Jubilee Junction Convenience Store.

Any former student in Halifax, NS will know these two stores well.

Directly across the street from each other, they are a classic example of competition benefitting customers.

For anyone living in that area โ€” itโ€™s either Triple A, Jubilee Junction. Which has lead to a ton of innovative ideas.

Here are some examples I found in a 2018 article in the Dalhousie Gazette ๐Ÿ‘‡

  • โ€œBoth started providing free ice cream (using report cards in lieu of money) to students on the final day of school.โ€
  • โ€œTriple A goes the extra mile by providing DalCard access, clever advertising (Gatorade as hangover cures) and a delivery service that offers snacks with your pizza.โ€
  • โ€œBoth shops open late and offer cheap junk food, making either the perfect stop after a night out.โ€

Without the threat of a worthy competitor looming across the street, it would be easy for either store to phone it in as the only shop around.

Hereโ€™s an interesting quote at the end of the article:

โ€œSo, whoโ€™s better? It canโ€™t really be said. Either way, we win.โ€

I think that sums it up pretty well. What do you think?