SWOT Analysis of My Dollar Store with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
My Dollar Store
My Dollar Store Inc, USA
Lifestyle and Retail
The original American Bargain Store
Unique blend of convenience and great value for money at best bargain prices
Fixed Price Store
Highly Price Sensitive Lower and Middle class households
Offer a huge range of merchandise spanning across categories at a fixed price point of one dollar
1.Fixedprice shop-offers best bargain prices for a large range of products thereby attracting large volumes for food, staples and daily need items 2. Augment sales through exciting deals, bundle offers and promotions 3. Frequent updation and changes in merchandise to suit seasonal demands and offer more variety, tighter inventory control mechanism 4. Sells over 5000 top quality international products in over 20 categories such as apparel, consumer electronics, books, baby products etc.
5.Low cost operating Model-centrally managed, large scale operations, good product mix
6. A strong franchisee system to build new stores
1. High turnover of employees, labour challenges 2.Heavily discounted products perceived as low quality by consumers 3.Highly Inconsistent sales per store owing to regional and seasonal nature of demand 4.Late entrants in the online channel
1.Increasing demand for private label goods by consumers 2.Worsening economic scenario and high unemployment shifting consumer preference to heavily discounted shopping 3.Expansion in new geographical markets
1. Global sourcing of international products under threat due to exchange rate fluctuations 2.Rising labour costs posing an upward pressure on operating costs 3.Rising competition In the fixed-price store category from big names like Walmart etc.
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