HomeGoods SWOT Analysis, Competitors & USP
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 Brand Analysis | |
|---|---|
| Parent Company |
TJX Companies |
| Category |
Home furnishing, home improvement |
| Sector | |
| 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 |
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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