The analysis tool will also help you understand where your brand stands in the larger fashion marketplace.
Consider your assets including plant and equipment Assets are really only shop fittings and stock with two computers and software. No Do you have long-term rental contracts for your business locations? No, same as our competitors Are your products unique or market leading?
No, stock is the same as our competitors. We can pick and choose what styles to stock. No Have you got sufficient financial resources to fund any changes you would like to make?
No, we do trade profitably, but are not able to fund an expansion to a larger footprint store. No Do you have any cost advantages over your competitors?
No, rents are all pretty standard, you can save on rent but loose the foot traffic, so it is all relative. No Do you use superior technology in your business? No No Is your business high volume? We do sell a lot, but not as much as some of the larger retail stores.
Our product is high quality, high margin and low volume in comparison No Can your scale up your volume if you need to? Not really, orders are placed in advance, shop size is restrictive. No Intangible Strengths Do you have or stock strong recognizable brands Yes, though the brand space is becoming cluttered with more and more recognizable brands.
Depleting the value of any one brand. Yes Your reputation - are you considered a market leader? No No Do you have good relationship with your customers?
Goodwill Yes, we have a good connection with our customers, our email list grows and many customers advise they were referred to us by their mates. We get a lot of repeat customers. Yes Do you have strong relationships with your suppliers Yes, though we are just another supplier to them.
We are able to differentiate from our competitors. We have long term agreements in place with some suppliers to be their sole representative in this region. Yes Do you have a positive relationship with your employees Yes, though we only have a few employees No, our competitors also have good employee relations Do you have any unique alliances with other businesses?
No, maybe our territory agreements with some suppliers.
No Do you own any patents or proprietary technology? No Do you have a proven advertising process that works well? Email news letter with specials and new stock, seems to work for retaining customers. Most new customers were attracted to the shopping complex.
Yes Do you have more experience in your field? No Are you managers highly experienced? No No Do you have superior industry knowledge? No, though we do have a good set of sales skills, particularly up selling and forming relationships. People feel good coming by and seeing us.
No Are you involved with industry associations?Jun 29, · A strengths, weaknesses, opportunities and threats, or SWOT, analysis lets your fashion business or brand see how it stacks up against the competition.
The SWOT Analysis is one of several strategic planning tools that are utilized by businesses and other organizations to ensure that there is a clear objective defined for the project or venture, in order to accomplish this task, the process of SWOT involves four areas of consideration: strengths, weaknesses, opportunities, and threats (Deakin.
Swot analysis of retail industry 1. SWOT ANALYSIS OF RETAIL INDUSTRY BY: Anchal Singla MBA Anunay Sinha MBA Radhika Gupta MBA Utkarsh Vashist MBA 2.
How to Do a Retail SWOT Analysis. Retail companies, like other businesses, often use a SWOT (strengths, weaknesses, opportunities and threats) analysis as it provides information regarding the state of their business.
Swot analysis of retail industry. and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. India’s retail market is expected to nearly double to US$ 1 trillion by from US$ billion in India’s Business to Business (B2B) e-commerce market is expected to reach US.
In US too, retail has seen consistent growth and grew 2% over in retail sales in US equalled $ trillion. A major part of the retail transformation is taking place online.
E retail grew by a whopping 23% in and in the coming years too a lot is expected to happen online.