Why it's Actually Okay if Everyone's Selling the Same Thing You Are
Competition is an illusion. It doesn't matter if hundreds of people are selling basically the same thing you are.
Want to know why?
Because people will choose where they buy something based on how buying from that brand (or from that person or from that store) makes them feel. And whether buying from that brand reinforces their identity (aka the story they're telling themselves in their head's about who they are or who they aspire to be).
There are thousands of stores around the world that sell diamonds. Those sparkly little rocks so famously quoted to be a "girl's best friend". [insert eye roll here]. The stores that sell diamonds all have different angles they use to try to separate themselves from the crowd. Some are conflict-free (yay!!), some sell only Canadian, some promise the purest, or the clearest, some sell the cheapest, some specialise in diamonds for only certain occasions. Lots of creative angles.
But we can ALL agree that the way you would feel buying a diamond from Walmart.
Is vastly different than the way you would feel buying a diamond from Tiffany's.
All arguments about quality aside, it's essentially the same white sparkly rock they're selling. But they're catering to vastly different audiences. They're creating vastly different feelings when it comes to their shopping experience. Both in store and online. You can see it.
Walmart emphasises the price in big blue numbers because they're all about providing great VALUE. The description to help you emotionally connect to this ring isn't even above the fold. It's not that important. You're buying on look and price. Not to mention the font and colour choices which reinforce the Walmart brand personality of accessible, Everyman style.
Tiffany, on the other hand, doesn't display its prices at all. Instead, they opt for gorgeous photos and a single impactful sentence at the top. The colour scheme is simple and the font is elegant (ps I kind of love it). You have to click 2 more times before you can even FIND a price and that's because they want to give you the maximum amount of time to fall in love with it before you find out it costs more than your car. Well, at $46+k it costs more than my car, anyway. But for the typical Tiffany buyer...it's probably reasonable.
Here's a personal (and waaayyy less expensive) example of an item I recently purchased not because I had ANY intention of walking into the store to buy a keychain but because it completely affirms my identity. The story in my head about who I am.
And because it reinforces my identity I have to say - I LOVE my new key chain. :)