Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Hy-Vee analyses the brand by its strengths, weaknesses, opportunities & threats. In Hy-Vee 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 Hy-Vee to benchmark its business & performance as compared to the competitors. Hy-Vee is one of the leading brands in the lifestyle and retail sector.
The article below lists the Hy-Vee SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hy-Vee SWOT Analysis:
For Hy-Vee, 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.
The strengths of Hy-Vee 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 Hy-Vee :
1.It is the in the top 25 supermarket chains privately owned companies in the United States
2. Has a huge employee strength of over 60,000 and is the largest employer in the state of Iowa
3.Huge wide spread network of 230+ stores in Iowa, Illinois, Missouri, Kansas, Nebraska, South Dakota, Minnesota and Wisconsin
4. Health proposition to Customers by providing information on diet, nutrition and wellness. Has consulting service of in-store dieticians and chefs, conducts wellness programs for employees and customers and uses the NuVal Nutritional Scoring System
5.Social presence though programs like providing spousal benefits to gay couples
6.Excellent customer relationship management through benefits like Hy-Vee Fuel Saver program
6. Excellent marketing and brand awareness creation through sponsoring sporting events like Hy-Vee Triathlon, Hy-Vee Heroes Game, Big Four Classic along with University event sponsorships like Drake Relays at Drake University
7.Well trained employees and good customer service and 24 hrs service and one stop shop for a plethora of items
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 Hy-Vee SWOT Analysis:
1.Some customers feel that it is overpriced
2. High competition means low market share growth
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 Hy-Vee SWOT Analysis:
1.Expand its online portal and include home delivery system with ease
2.Expand into other cities and abroad as well
3. Tie-ups with other brands and acquisition of smaller players
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 Hy-Vee are as mentioned:
1.Being costly its products are hit easily by recession and income fluctuations
2.Increasing food safety norms and standards to be met is increasing operating costs
There are several brands in the market which are competing for the same set of customers. Below are the top 6 competitors of Hy-Vee:
Urban, Young, working, health conscious and sporty individuals
Healthy nutritious food
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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