Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Ross Stores analyses the brand by its strengths, weaknesses, opportunities & threats. In Ross Stores 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 Ross Stores to benchmark its business & performance as compared to the competitors. Ross Stores is one of the leading brands in the lifestyle and retail sector.
The article below lists the Ross Stores SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Ross Stores SWOT Analysis:
For Ross Stores, 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.
Ross Stores Strengths
The strengths of Ross Stores 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 Ross Stores :
1. 1100+ stores covering most of the states in US 2. dd’s discount(deep discount) chain for clothes and furniture 3. Gift cards of denominations up to $ 250. Customers can even design their own gift cards 4. Variety between products offered in various stores
5. Over 55,000+ employees are working for the store chain
6. The products available in the stores are Clothing, footwear, bedding, furniture, jewelry, beauty products, and house wares
Ross Stores Weaknesses
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 Ross Stores SWOT Analysis:
1. Intense competition means limited market share and low brand loyalty
2. Competitor differentiation is low and also it is only limited to US for its revenues
Ross Stores Opportunities
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 Ross Stores SWOT Analysis:
1. Latest fashion items could be put up for auction 2. Online retail is an easy way to increase sales of items produced in bulk 3.Similar to dd’s , Ross could have a separate store for better quality products at a slightly higher or reasonable price
Ross Stores Threats
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 Ross Stores are as mentioned:
1. Stores such as Zara is also able to change the products on display as fast as Ross. 2. Some supermarkets also have garments for sale 3. Boutiques sometimes offer old stock at their stores at a discount
4. Fake products of major brands attract young customers
Ross Stores Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Ross Stores:
Middle class with family income less than or around $100,000
Items at a discount
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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