Cannibalization in a business happens in different ways. An example is one, creating a store near another similar store that you own. You just cut your customers in two and not create new customers. Another is creating a product with similar benefits or offering as your similar product. People will tend to buy the newer one more than the old. This might create a new market but still the cannibalization is likely because same set of customers bought the new product but it was just seeping out the sale of your old product.
MMO Panel
Cannibalization in a business happens in different ways. An example is one, creating a store near another similar store that you own. You just cut your customers in two and not create new customers. Another is creating a product with similar benefits or offering as your similar product. People will tend to buy the newer one more than the old. This might create a new market but still the cannibalization is likely because same set of customers bought the new product but it was just seeping out the sale of your old product.