Heritage Stores SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 757
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SWOT Analysis of Heritage Stores with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Heritage Stores

Parent Company

Heritage Store

Category

Healthcare

Sector

Lifestyle and Retail

Tagline/ Slogan

A legacy for Life

USP

Unique holistic approach to wellness providing natural solutions to one’s  health, skin and hair care needs

STP

Segment

Middle , Upper Middle and High income individuals 25-60 years old

Target Group

People who are conscious of their overall wellness and prefer to go for dedicated, premium, high quality products for skincare, haircare and health

Positioning

offered quality products for your health, beauty and wellness at affordable prices

SWOT Analysis

Strengths

1. Extremely wide product assortment ranging from aroma therapy, homeopathy , flower essentials etc. all under
2. All major premium, high quality brands offered at affordable prices
3. One-stop solutions to holistic health care
4. Lack of fierce competition

Weaknesses

1. Lack of Brand awareness in other countries
2. Tendency of customers to buy sensitive products related to heath care after physically inspecting those
3. Majorly online business, only 1 physical store “Heritage Natural Market” in Virginia

Opportunities

1. Expansion in the physical store format

2. Resort to media, advertising and promotions to create awareness about the store

3. Rising healthcare sector across the world and consumer’s

4. increased awareness about necessity of wellness products

5. Explore private label brands

Threats

1. Rising competition in healthcare sector from physical stores, online heath sites etc.
2. Government regulations related to healthcare
3. High bargaining power of well-known brands suppliers such as Edgar Cayce products, thereby lowering profit margins

Competition

Competitors

1.Local Drug Stores
2.New online websites such as healthkart.com, health24X7.com
3.Wellness stores such as CVS Pharmacy, Melaleuca, HoMedics,Inc etc.



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