"There's no better friend to any merchant than a fair competitor"

This quote by James Cash Penney talks to the importance of competitors in business world. He is recommending that competitors is beneficial to merchants, as it can assist them to stay on their toes and stay competitive in the market. Competition can also assist to drive development and imagination, as merchants make every effort to differentiate themselves from their rivals. Additionally, competitors can assist to keep rates low, as merchants are forced to stay competitive in order to bring in clients. Eventually, Penney is suggesting that competitors is a positive force in business world, and that merchants ought to embrace it as a buddy. By doing so, they can ensure that they stay competitive and successful in the market.