Written by Castiel Griffin on November 15, 2024
The Challenges of Service Market Oversaturation and How Small Businesses Can Adapt
Market oversaturation occurs when the supply of businesses offering similar services exceeds consumer demand, creating intense competition. Small businesses, in particular, feel the strain of oversaturation in service industries like hospitality, consulting, fitness, and professional services. Unlike larger competitors with greater resources and market leverage, small businesses face tighter margins, reduced visibility, and increased operational challenges.
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