Myer SWOT Analysis
Here is a detailed SWOT analysis of Myer covering strengths, weaknesses, opportunities and threats.
SWOT analysis is a management strategy framework used by businesses like Myer for assessing organization’s Strengths, Weaknesses, Opportunities, and Threats to guide strategic decision-making. Sidney Myer an immigrant from Russia with his brother founded Myer Holdings Ltd. In the year 1900 118 years ago. By examining these internal and external factors, Myer can capitalize on advantages, mitigate risks, and chart a more competitive path forward. The brothers started their business by opening a small drapery store in Bendigo, Australia. Let us start the SWOT Analysis of Myer below.
Myer Strengths
- Australian chain of upscale mid to high range departmental store
- Myer has stores in all Australian states and the Australian Capital Territory
- Variety of brands in affordable price gives consumer a lot of choices
- Strong brand presence and reputation in Australia
- Customer-focused service
Above are the strengths in the SWOT Analysis of Myer. The strengths of Myer looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Myer Weaknesses
- Undeveloped distribution channel which serves only in some locations in Australia
- Retail area prices are increasing still it has inadequate usage of area in showroom
- Target consumers are present only in Australia and no global presence
These were the weaknesses in the Myer SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Myer Opportunities
- Foreign players are dominating retail sector so opportunity to tie up with these players
- Opportunity to increase footfalls by exploring innovative promotional strategies
- Enhance in showroom performance by effective use of staff members
Above we covered the opportunities in Myer SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Read more about Myer
Myer Threats
- Consumer preferences are changing also lifestyle changing day by day
- Customer are very much cautious about spending as disposable income decreasing due to slowdown
- Difficult to target all segments of society
The threats in the SWOT Analysis of Myer are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Myer SWOT analysis.
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About Myer
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Myer Overview | |
|---|---|
| Parent Company |
Myer Group |
| Category |
Retail |
| Sector | |
| Tagline/ Slogan |
Myer is my store |
| USP |
Mid to high range stores |
| Myer STP | |
| Segmentation |
Price conscious group targeted departmental store |
| Target Market |
Middle class and upper middle class individuals |
| Positioning |
Styles and quality |
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