Published in Lifestyle and Retail category by MBA Skool Team
HomeGoods is one of the leading brands in the lifestyle and retail sector. HomeGoods SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of HomeGoods:
Large network, product from across the globe as its also known as HomeSense
Designer goods at low prices
Strong Brand Equity as it has over 400 stores
Great growth history also enhances its strong legacy
Above are the strengths in the SWOT Analysis of HomeGoods. The strengths of HomeGoods looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Customers may have to do their own combinations and may feel lost
Limited global presence compared to big retail players
These were the weaknesses in the HomeGoods SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Expand options for online orders, home delivery
Provide suggestions from interior designers
High End customers, exclusive designer made interiors
Above we covered the opportunities in HomeGoods SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Economic slowdown will prevent people from spending on decoration
Other stores offering imported items
Online retailers for home improvement
The threats in the SWOT Analysis of HomeGoods are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the HomeGoods SWOT analysis.
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The table below gives the brand overview along with its target market, segmentation, positioning & 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
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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