Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of HomeGoods analyses the brand by its strengths, weaknesses, opportunities & threats. In HomeGoods 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 HomeGoods to benchmark its business & performance as compared to the competitors. HomeGoods is one of the leading brands in the lifestyle and retail sector.
The table below lists the HomeGoods SWOT (Strengths, Weaknesses, Opportunities, Threats), top HomeGoods competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Be HomeGoods Happy; Irresistible finds exceptional prices
Distinctive home fashions at irresistible prices
Families looking for setting up new homes or refurbishing existing ones at an affordable price
Working middle class and upper middle class families, looking to add style to their homes
Place of unique and beautiful finds offered discounts in department and specialty store prices every day
SWOT Analysis of HomeGoods
Below are the Strengths in the SWOT Analysis of HomeGoods:
1.Weekly shipments, new stuff every week
2.Large network, product from across the globe as its also known as HomeSense
3.Designer goods at low prices
4. Strong Brand Equity as it has over 400 stores
5. Great growth history also enhances its strong legacy
Here are the weaknesses in the HomeGoods SWOT Analysis:
1. Customers may have to do their own combinations and may feel lost
2.Limited global presence compared to big retail players
Following are the Opportunities in HomeGoods SWOT Analysis:
1.Expand options for online orders, home delivery
2. Expansion abroad
3. Provide suggestions from interior designers
4.High End customers, exclusive designer made interiors
The threats in the SWOT Analysis of HomeGoods are as mentioned:
1.Economic slowdown will prevent people from spending on decoration
2.Other stores offering imported items
3.Online retailers for home improvement
Below are the top 3 competitors of HomeGoods:
2. Bed Bath & Beyond 3. Plush Home
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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