Space.NK SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Space.NK, 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 Space.NK to benchmark its business & performance as compared to the competitors, and make strategic improvements. Space.NK is one of the leading brands in the lifestyle and retail sector.
The article below lists the Space.NK SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Space.NK SWOT Analysis:
In this article:
For Space.NK, 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 Space.NK 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 Space.NK :
1. N.Dulge - customer loyalty program
2. Over 60 stores across UK and 20+ stores in USA
3. Set of brands hard to find outside Space.NK
4. Has a range of products including perfumes, cosmetics, candles and some accessories
5. Multi-brand retail outlets ensures all brands under one roof
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 Space.NK SWOT Analysis:
1. Presence only in UK and US as compared to other cosmetic stores means limited market share
2. Once boasted a set of rare brands which have now become common
3. Occasional non-availability of certain offerings due to stock outs
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 Space.NK SWOT Analysis:
1. Tap the Europe mainland market and emerging economies
2. Increase presence in more cities across US
3. Improve the store experience with beauty consultant or hair stylist
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 Space.NK are as mentioned:
1. Similar brands available at supermarkets and hypermarkets
2. Brands offered are no longer niche
3. A number of beauty saloon chains have cropped up over the last 10 years
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Space.NK:
1. The Body Shop
Hence this concludes the Space.NK SWOT analysis.
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Personal Care brands- Cosmetics
An edited selection of the world’s best beauty products
Portfolio of top beauty brands
Men and women interested in the latest trends
Upper middle class and upper class
Highest quality cosmetics
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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