HomeSense SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of HomeSense analyses the brand by its strengths, weaknesses, opportunities & threats. In HomeSense 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 HomeSense to benchmark its business & performance as compared to the competitors. HomeSense is one of the leading brands in the lifestyle and retail sector.

The table below lists the HomeSense SWOT (Strengths, Weaknesses, Opportunities, Threats), top HomeSense competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).

HomeSense SWOT Analysis, Competitors, Segmentation, Target Market, Positioning, USP & Brand Analysis Table
HomeSense Brand Analysis
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

HomeSense 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 of HomeSense
HomeSense Strengths

Below are the Strengths in the SWOT Analysis of HomeSense:

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

HomeSense Weaknesses

Here are the weaknesses in the HomeSense SWOT Analysis:

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

HomeSense Opportunities

Following are the Opportunities in HomeSense SWOT Analysis:

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

HomeSense Threats

The threats in the SWOT Analysis of HomeSense are as mentioned:

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

HomeSense Competition
HomeSense Competitors

Below are the top 3 competitors of HomeSense:

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

 

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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