There’s not a business that doesn’t have competitors, especially once they become successful. Whether it’s a new competitor copying your offering or existing competitors seeking competitive advantage through price, it’s a never-ending battle.
Changing the terms of competition can give you competitive advantage. Build upon your success by raising the bar for the core benefit you offer. Or change the terms by offering a new feature or benefit. During the heart of the Covid-19 pandemic, the airline industry was decimated, but we saw how the airlines are changing how they compete for the consumers still considering travel. Delta took a clear stance in elevating their safety measures as part of a new travel experience, seeking to build consumer confidence that it’s safe to fly. American and United delivered the basic safety measures, but largely seemed to be selling a pre-Covid experience with a focus on cheap flights. While consumers flocked back to flying in 2022, we won’t know for years how this competitive battle plays out, but we’d guess consumers will trust Delta’s higher standard more.