How do you analyze competitors for a coffee shop?

How do you analyze competitors for a coffee shop?

How do you analyze competitors for a coffee shop business? Identify both direct competitors (other coffee shops, carts, trucks) and indirect competitors (bakeries, donut shops, fast-food places serving coffee). Analyze their product range, pricing, customer base, and service quality. Competitive Rivalry in the Industry: Impact on Starbucks (High) Starbucks operates in a highly competitive market with global coffee chains, fast-food brands, and local cafés challenging its dominance. Starbucks competitors include Dunkin’, McCafé, Costa Coffee, Tim Hortons, and independent specialty cafés.Product: High-quality products justify the premium pricing. They ensure that the coffee tastes better than its competitors. Their Barista Promise of fixing your drink if you don’t like it has attracted the masses. Price: Starbucks sells their coffee at least 25% higher than other brands.How Does Starbucks Differentiate Itself From Competitors? Starbucks differentiates itself by creating a third home value proposition. In addition to home and work, the company strives to have a welcoming, warm location for customers to consume their products.