Goff’s Department Store SWOT Analysis, Competitors & USP

Posted in Lifestyle and Retail, Total Reads: 2292

SWOT analysis of Goff’s Department Store analyses the brand/company with its strengths, weaknesses, opportunities & threats. In Goff’s Department Store 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 Goff’s Department Store to benchmark its business & performance as compared to the competitors and industry. Goff’s Department Store is one of the leading brands in the lifestyle and retail sector. The table below also lists the top Goff’s Department Store competitors and elaborates Goff’s Department Store market segmentation, target group, positioning & Unique Selling Proposition (USP).

Goff’s Department Store SWOT, Competitors, Marketing STP & Brand analysis Table
Goff’s Department Store Brand Analysis
Parent Company

Goff’s Department Store

Category

Department Store

Sector

Lifestyle and Retail

Tagline/ Slogan

-

USP

Oldest Store in Blaine (est. 1915)

Goff’s Department Store STP
Segment

Sells across all demographic segments

Target Group

The middle and higher-income markets

Positioning

Family Focused store with good service and quality

Goff’s Department Store SWOT Analysis
Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Goff’s Department Store. Strengths are:

1.Good ties with local community

2.Rich heritage after being established in the neighborhood for over 90 years

3. Customer loyalty is high because of strong focus on good service

4.Strong brand equity developed due to long heritage

5.Good location in the city with lot of customer traffic

6. Unique collection of old blaine newspapers – a novelty attraction

Weaknesses

Here are the weaknesses in the Goff’s Department Store SWOT Analysis:

1. Store not modernized with the times

2. Unable to employ economies of scale because it is a single store

3. Had to sell items at sale prices because of imminent closure

Opportunities

Following are the Opportunities in Goff’s Department Store SWOT Analysis:

1. Renovate the store to make it more modernized

2. Leverage the store’s good image in Blaine by opening newer stores

3. Product and services expansion

4. Expansion into other cities

5. Rebranding the store to appeal to younger customers who feel that the store is too outdated

6. Adding new exclusive brands and products to improve sales

Threats

The threats in the SWOT Analysis of Goff’s Department Store are as mentioned:

1. Intense Competition from existing retailers
2. Economic slowdown

3. Walmart, as a competitor penetrating the market with better global ties and cheaper substitute (imported) products

4. External Changes like changing tax policies, government regulations, etc.

5. Rising fresh food prices due to inflation affecting profits

Goff’s Department Store Competition
Competitors

Below are the top 3 Goff’s Department Store competitors:

1.  Best Buy
2. Big Lots
3. Blaine Discount Store

The brandguide table above concludes the Goff’s Department Store SWOT analysis along with its marketing and brand parameters.

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 Goff’s Department Store. The BrandGuide section covers SWOT Analysis, USP, STP & Competition of more than 6000 brands from over 20 categories. This SWOT and marketing analysis has been researched & authored by our BrandGuide Research Team members.

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