Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Aspial analyses the brand by its strengths, weaknesses, opportunities & threats. In Aspial 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 Aspial to benchmark its business & performance as compared to the competitors. Aspial is one of the leading brands in the lifestyle and retail sector.
The article below lists the Aspial SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Aspial SWOT Analysis:
For Aspial, 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 Aspial 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 Aspial :
1. Only jewellery retailer to be listed on the Singapore Exchange 2. Strong backing from sister firms such as Lee Hwa Jewellery, Goldheart and Citigems 3. Caters top brands such as Balocchi Preziosi, Laurentia and K DI KUORE 4. Diversified into Property Development and Financial Services
5. Pawnbroking business through subsidiary , Maxi-Cash Group Pte. Ltd.
6. Lee Hwa Jewellery was the official jewellery for Audi Fashion Festival (AFF)
7. Parent company Aspial Corporation holds the largest market share in Singapore
8. World’s first purple gold, endorsed by World Gold Council
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 Aspial SWOT Analysis:
1. Do not manufacture 916 gold jewellery anymore 2. Limited global presence and brand recognition 3. Tough competition from local jewelers and major international brands
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 Aspial SWOT Analysis:
1. Online retail is gaining popularity in this region, Aspial need a good webportal for viewing and retail of the jewellery 2. Joint initiative with some of the major fashion houses will give Aspial better exposure internationally 3. The 916 gold market from which Aspial withdrew in 1997 could be branched off into another retail chain catering to the middle class
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 Aspial are as mentioned:
1. The sales is effected by the economic condition, for instance the sales in the region dipped during the Eurozone debt crisis 2. Difficult to keep up with the changing trends in the industry 3. Property development which is also a core business of Aspial is strongly dependent on the housing market which has been very vulnerable in the past few years
4. Pawnbroking and Financial services are vulnerable to the ever changing government regulations of the various countries where Aspial operates
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Aspial:
1. Tiffany & Co 2. Swarovski 3. Taka Jewellery Pte Ltd
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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