HomeSense SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 1080
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SWOT Analysis of HomeSense with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

HomeSense

Parent Company

TJX Companies

Category

Domestic merchandise, Specialty stores

Sector

Lifestyle and Retail

Tagline/ Slogan

Irresistible finds. Exceptional prices ; It makes perfect HomeSense.

USP

Unique items both trendy and archaic at low prices

STP

Segment

People looking for home décor at a discount

Target Group

Middle class and upper middle class

Positioning

Low prices for unique pieces

SWOT Analysis

Strengths

1. Strong presence in UK and Canada make it a significant player in the industry
2. Competitive pricing helps lure a strong customer base
3. Nearly 30 stores across UK and over 80 stores in Canada
4. Tie-up with Winners Merchants International L.P. in Canada

5. Product portfolio includes Bedding, furniture, and housewares

Weaknesses

1. Occasional defects were present in products hurt its image
2. Limited online portal to view products and their description is a disadvantage and means limited market capability

Opportunities

1. Expansion into Europe mainland
2. Cater to office furniture and other services
3. Have an online portal for sales showcasing the entire portfolio

Threats

1. Competition have a wider choice of products

2. E-commerce with home delivery has grown in the last few years

3. Unfavorable economic conditions can affect operational efficiency

Competition

Competitors

1. Ikea
2. Zara Home
3. DFS Furniture Co Plc

 


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