I’ll extend this and say, the only way to guarantee success is to pursue an a single niche to its extreme – be the only one serving a specific market in a specific way. I touched on this notion my One as the Ideal Podcast Audience Size thinking a while back.
From that perspective, there really is very little competition.
Wal-Mart and Target are both big box retailers, but the chances of anyone shopping at both are pretty slim. Each has their own identity and brand – those brands are similar only at the most cursory level.
Competition makes for easy press, but I think it detracts from serving customers.