Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Neiman Marcus analyses the brand by its strengths, weaknesses, opportunities & threats. In Neiman Marcus SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Neiman Marcus to benchmark its business & performance as compared to the competitors. Neiman Marcus is one of the leading brands in the lifestyle and retail sector.
The article below lists the Neiman Marcus SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Neiman Marcus SWOT Analysis:
For Neiman Marcus, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Neiman Marcus Strengths
The strengths of Neiman Marcus looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Neiman Marcus :
1. American luxury specialty department stores 2.Products include clothing, footwear, furniture, jewelry, beauty products, electronics and housewares 3. Strong customer loyalty program 4. Multi channel retail formats
5. Strong luxury brand portfolio
6. Premium customers are recession resistant shoppers with high discretionary spending
Neiman Marcus Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Neiman Marcus SWOT Analysis:
1. Limited marketing & global exposure compared to global brands
2. Controversy of alleged fur usage & credit card fraud was a setback
Neiman Marcus Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Neiman Marcus SWOT Analysis:
1. NM’s entry into e-commerce 2. Develop and cultivate the CUSP for mid-tier shoppers 3.US online retail sales projected to grow
4. Expansion of the brand in the global market
Neiman Marcus Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Neiman Marcus are as mentioned:
1.Increasing counterfeit items 2.Luxury and high end designers retailing their clothing directly through websites 3.Intense competition can reduce market share
Neiman Marcus Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of Neiman Marcus:
1.Barneys 2.Lord and Taylor 3.Nordstorm
5.Saks Fifth Avenue
Hence this concludes the Neiman Marcus SWOT analysis.
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About Neiman Marcus
Neiman Marcus Overview
Ares Management, CPP Investment Board, Leonard Green & Partners
Fashions best designers, plus beauty's best brands
finest fashion and quality products in an exceptional environment
Neiman Marcus STP
Men and Women apparel and clothing
Premium segment shoppers
premier luxury retailer recognized for merchandise leadership and superior customer service
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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