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For retail sector see Asda (walmart) how he took major share of market beside already saturated century old supermarket industy in UK.
My Opinion
must concentrate this major areas
1.Maintain standed customer service.
2.Maintain customer satisfaction companre then your competitor store .
3.follow and anlyse and inovate quick action and quick discount strategy same time .
4.Managing good team players
5.create your store like Attacting staff policy and motivating stafff environment.
6.Hospitality and good grooming standed.
7.Dont compromise promotinal activity
8.Atractive visual marchandizing .
9.Must concentrate long term sucess not short term .
10.Response customer feedback and solving customer pobolem as soon as posible.
11. Concentrate your competitor one eye outher eye for customerand employee satisfaction and achieving your company long &short term goals and improve your position in market .
In general, imagin yourself in place of the customer who sees two competitors trying to sell to you, what makes you choose between the two of them? Product, price, company reputation, the attitude of tyhe salesperson....
I, myself, will work on making the customer feels that I am very special, have a special solution to offer and he will be my special customer.
There are many options how we can improve sales when competitor is behind.
(1) We have to be behave gently to customer and try to adobt strategies which differ from the competitor.
(2) we need to show that kind of attitude to customer that he will love to meet you again and again.
keeping these views in mind will help you a lot and money is not the main issue,try to win customer by your attitude and behaviour.
