The Competitive Set
Determining your current and future competition is also a key input for your “due dili- gence” process. Assessing your current competition can take the form of a simple audit. This entails asking the question, “Who is in the market?” (e.g., domestic and international players) and, “What are they currently doing?”. Alternatively, a more detailed evaluation of your competitors is another, which is discussed below.
Table 1.3: Simplified Direct Channel Audit
Crate & Barrel
Using the Home Improvement sector as an example, a cursory audit of this category reveals the following:
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Direct Channel Presence
Table 1.3 provides a quick overview of some of the key players and whether they have an online presence in the Home Improvement space.
As noted earlier, an alternative would be to conduct a detailed audit of their “direct channel” capabilities.
The detailed audit could provide information about deficiencies and/or solutions that your current competitors in the category may be providing to consumers (this will be covered in Chapter 2).
Visa e-commerce cross-border handbook for U.S. retailers
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