HomeGoods SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 1430
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SWOT Analysis of HomeGoods with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

HomeGoods

Parent Company

TJX Companies

Category

Home furnishing, home improvement

Sector

Retail stores

Tagline/ Slogan

Be HomeGoods Happy; Irresistible finds exceptional prices

USP

Distinctive home fashions at irresistible prices

STP

Segment

Families looking for setting up new homes or refurbishing existing ones at an affordable price

Target Group

Working middle class and upper middle class families, looking to add style to their homes

Positioning

Place of unique and beautiful finds offered discounts in department and specialty store prices every day

SWOT Analysis

Strengths

1.Weekly shipments, new stuff every week

2.Large network, product from across the globe as its also known as HomeSense

3.Designer goods at low prices

4. Strong Brand Equity as it has over 400 stores

5. Great growth history also enhances its strong legacy

Weaknesses

1. Customers may have to do their own combinations and may feel lost

2.Limited global presence compared to big retail players

Opportunities

1.Expand options for online orders, home delivery

2. Expansion abroad

3. Provide suggestions from interior designers

4.High End customers, exclusive designer made interiors

Threats

1.Economic slowdown will prevent people from spending on decoration

2.Other stores offering imported items

3.Online retailers for home improvement

Competition

Competitors

1. HomeClick

2. Bed Bath & Beyond
3. Plush Home

 


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