Comp Shopping
Comp shopping, also known as comparison shopping or competitive shopping, is a key practice in retail where professionals study what similar stores are doing. It involves visiting competitor stores to research their prices, products, displays, and overall shopping experience. This helps retailers understand market trends, set competitive prices, and improve their own store offerings. Think of it as retail research that helps stores stay competitive and up-to-date with market trends.
Examples in Resumes
Conducted weekly Comp Shopping analyses of 5 major competitors to inform pricing strategies
Led Comparison Shopping initiatives resulting in 15% sales increase through strategic price adjustments
Performed monthly Competitive Shopping research to track market trends and merchandise placement
Typical job title: "Merchandising Analysts"
Also try searching for:
Where to Find Merchandising Analysts
Professional Networks
Job Boards
Example Interview Questions
Senior Level Questions
Q: How would you develop a comprehensive comp shopping strategy for a national retail chain?
Expected Answer: A senior candidate should discuss creating a structured plan including store selection criteria, frequency of visits, data collection methods, analysis tools, and how to turn findings into actionable recommendations. They should mention training teams and creating standardized reporting.
Q: How do you use comp shopping data to influence major business decisions?
Expected Answer: The answer should cover translating raw data into strategic insights, such as pricing adjustments, merchandising changes, or new product development. They should mention examples of successful implementations and ROI measurement.
Mid Level Questions
Q: What factors do you consider when conducting comp shopping analysis?
Expected Answer: Should mention price points, product quality, store layout, customer service, promotions, and seasonal merchandise. Should explain how these elements contribute to the overall competitive analysis.
Q: How do you organize and present comp shopping findings to stakeholders?
Expected Answer: Should discuss creating clear reports with key metrics, using visuals like photos and charts, and making specific recommendations based on findings.
Junior Level Questions
Q: What information do you collect during a comp shopping visit?
Expected Answer: Should list basic elements like prices, product placement, promotional displays, store layout, and customer service observations. Should mention documenting findings systematically.
Q: How do you ensure accuracy in comp shopping data collection?
Expected Answer: Should discuss using standardized forms or checklists, taking detailed notes, photos when permitted, and double-checking prices and promotional offers.
Experience Level Indicators
Junior (0-2 years)
- Basic data collection and documentation
- Understanding of retail metrics
- Ability to follow comp shopping procedures
- Basic report writing
Mid (2-5 years)
- Detailed competitive analysis
- Trend identification
- Data analysis and reporting
- Making actionable recommendations
Senior (5+ years)
- Strategy development
- Team leadership
- Advanced market analysis
- Implementation of findings into business strategy
Red Flags to Watch For
- No retail or merchandising experience
- Poor attention to detail in data collection
- Lack of analytical skills
- Unable to translate findings into actionable insights
- No understanding of basic retail metrics
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