HomeGoods SWOT Analysis, Competitors & USP

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).

HomeGoods SWOT Analysis, Competitors, Segmentation, Target Market, Positioning, USP & Brand Analysis Table
HomeGoods Brand Analysis
Parent Company

TJX Companies

Category

Home furnishing, home improvement

Sector

Lifestyle and Retail

Tagline/ Slogan

Be HomeGoods Happy; Irresistible finds exceptional prices

USP

Distinctive home fashions at irresistible prices

HomeGoods STP
Segment

Families looking for setting up new homes or refurbishing existing ones at an affordable price

Target Group

Working middle class and upper middle class families, looking to add style to their homes

Positioning

Place of unique and beautiful finds offered discounts in department and specialty store prices every day

SWOT Analysis of HomeGoods
HomeGoods Strengths

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

HomeGoods Weaknesses

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

HomeGoods Opportunities

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

HomeGoods Threats

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

HomeGoods Competition
HomeGoods Competitors

Below are the top 3 competitors of HomeGoods:

1. HomeClick

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.

Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to HomeGoods. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.

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