What is Core Competency in Retail? Explained

Core competency embodies the unique strengths that distinguish a business within the market. These strategic capabilities, whether rooted in exceptional supply chain management, innovative merchandising, outstanding customer service, or technological prowess, serve as the foundation of a company's competitive advantage. Core competencies empower retailers to not only stand out in a crowded marketplace but also drive operational excellence, elevate customer satisfaction, and ultimately achieve long-term success. Recognizing and optimizing these distinctive strengths is paramount for retailers navigating the dynamic landscape and aiming for sustained leadership in the industry.