Myer SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Myer, 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 Myer to benchmark its business & performance as compared to the competitors, and make strategic improvements. Myer is one of the leading brands in the lifestyle and retail sector.
The article below lists the Myer SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Myer SWOT Analysis:
In this article:
For Myer, 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.
The strengths of Myer 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 Myer :
1.Australian chain of upscale mid to high range departmental store
2.Myer has stores in all Australian states and the Australian Capital Territory
3.Variety of brands in affordable price gives consumer a lot of choices
4. Strong brand presence and reputation in Australia
5. Customer-focused service
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 Myer SWOT Analysis:
1. Undeveloped distribution channel which serves only in some locations in Australia
2.Retail area prices are increasing still it has inadequate usage of area in showroom
3.Target consumers are present only in Australia and no global presence
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 Myer SWOT Analysis:
1.Foreign players are dominating retail sector so opportunity to tie up with these players
2.Opportunity to increase footfalls by exploring innovative promotional strategies
3.Enhance in showroom performance by effective use of staff members
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 Myer are as mentioned:
1. Consumer preferences are changing also lifestyle changing day by day
2.Customer are very much cautious about spending as disposable income decreasing due to slowdown
3.Difficult to target all segments of society
There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of Myer:
Hence this concludes the Myer SWOT analysis.
Continue reading more about the brand/company.
Myer is my store
Mid to high range stores
Price conscious group targeted departmental store
Middle class and upper middle class individuals
Styles and quality
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.
Browse marketing analysis of more brands and companies similar to Myer. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.
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