competitioncom·pe·ti·tion /ˌkɒmpəˈtɪʃənˌkɑːm-/ noun [uncountableU]1COMMERCEa situation in which businesses are trying to be more successful than others by selling more goods and services and making more profitCompetition between the two cable companies has driven down the price for program services.
They sell everything from food to furniture to fashion, often in direct competition with nearby stores.
The company faces stiff competition from Japanese luxury brands.
→ see also hypercompetition → free competition → imperfect competition → perfect competition → price competition2COMMERCE the competition all the businesses that compete with a particular business, seen as a groupIn the past, Honda has kept ahead of the competition because it was small and fast.