Yes, you should. Because while it’s true you may end up targeting some people who purchased from the competitor (there will be some waste with EVERY type of advertising) you’ll also target the people who were there and decided not to purchase. AND, you want to do Geo-Retargeting Lookalike of the people who leave and target their neighbors, and you can’t do that if you aren’t Geo-Retargeting the people who leave the competitors store.
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