You know, we humans are an awfully territorial bunch. But it’s natural. Our businesses represent income; income that we need to survive in today’s world. The problem is our territorial instincts often get in the way of the reality of the situation.
Looking for a product that no one else is selling so that you have no competition gives new sellers an unhealthy tunnel vision during their research. I can’t tell you how many times I've had people tell me they are looking for a product with no competition at all. A ‘secret product’ that no other business knows about. A little treasure trove of a product that I can sell and everyone will have to come to me to buy it! Har Har Har! It’s kind of cynical when you think about it.
The reality is; a product will not survive in the market if there are not multiple retailers selling it. Instead of looking at competition from a retailer’s perspective, let’s look at it from a “Supply Chain” perspective…
Manufacturers spend a lot of money to MAKE the product.
Wholesalers spend a lot of money to buy and warehouse the product.
In order for a product to thrive in the market Wholesalers and Manufacturers need many retailers selling the product. Without multiple retailers there wouldn’t be enough sales to support production and distribution costs. Without multiple retailers the supply chain breaks. Actually the supply chain goes bankrupt because it can’t afford its own operating costs.
Now, through the process of deduction, you can see it's not impossible for there to be lots of sellers selling the same product and they are all are making sales:
-If Retailers are not making sales, they won't order from Wholesalers.
-If Wholesalers don't getting orders, they won't order from Manufacturers.
-If no body is ordering/making sales the product goes out of production.
So don’t be too quick to pass by a product because you see others already selling it. Even if you think competition is evil, understand that it is a necessary evil!