Skechers has gone against the flow and tide, and opened MORE retail outlets in Singapore (read news source), despite all the onerous, excessive and unproductive regulatory COVID19 measures. Why? Simple.
What is competition? The ancient Greeks and the Chinese, among other peoples, had races or competitions, where participants competed fairly in physically demanding activities to see who fared best in skills and talents.
Have you met someone who looks just like you? Just like our ideas are not that unique most of the time, despite our own pride. What do we do despite having fierce and similar competition?
Have you received emails wanting to do business with you, unfortunately from a competing firm? It may sound hilarious, but seriously speaking, we do research who we email to pitch our business.