I've got a new competitor opening up soon. I have to admit that I'm a little concerned. My main issue is not that they'll steal away business, although my first response was to wish it wasn't true, just to avoid the headache. The theory about competition is that stores create their own customer base. They add value by making new customers. In other words, it's not a zero sum game, in which a finite sized pie is divided among stores. When a store dies, competitors take only a small number of their customers. Most float away and leave the hobby or start shopping online. When a new store opens, a similarly small number migrate away. It's actually very hard to woo away another stores customers unless they're doing them a disservice. Everyone has to make it on their own steam, and it's hard earned.
A bad store, however, can drag down other stores around them while they fail. For example, the economics of a discounter will eventually lead them to failure, including those horrid liquidation specials, but they might do great harm to other stores on their way down. They may "own" the market because of their pricing, but when they fail, the market evaporates and everyone is worse off. It's not like the dislocated customers suddenly have an epiphany to go to the other game store. Most are oblivious to other stores; they had their place.
You really only have three options to differentiate yourself: price, selection and service, so I'm hoping this new owner knows which one they're concentrating on. Although it may seem odd, I'm actually open to helping them, if only to make sure they don't make the kind of mistakes that will hurt the community overall. I've learned that an established store needs to stick a hand out and at least open up a line for communication. Otherwise there tends to be misunderstandings, rumors and animosity. So if you're reading this, give me a call and I'll do my best to be a good neighbor.