Swot And Smart Analysis Of New Store Of H&M Clothing Brand

Categories: Clothes Swot Analysis

Download

Analysis, Pages 3 (637 words)

Views

SWOTS stands for Strength

The store is divided into many departments Men, Women, Children and Household material.
Brand image is reputed.
Good quality of clothes with affordable prices.
Consumer get varieties.
Very famous globally and is always found with new stock.
Best Location and Big Stores.

W stands for Weakness

Strong competition in market
It’s hard for customers to navigate in large stores.
Busy storeO stands for Opportunities
In Canada we have SPC which offers student discount
Website work alongside, you can order in store or go on website and buy there.

Don't use plagiarized sources. Get your custom essay on

“ Swot And Smart Analysis Of New Store Of H&M Clothing Brand ”
Get custom paper
NEW! smart matching with writer
We also offer Style Advisor Service.
Teaming up with Celebrities to promote.

T stands for Threat

Economic Issues
Strong Competitors
Changes in Trends
Timings of Stores.

SMART GoalS – Specific

Specific goal of our store is to maintain the trendiness and uniqueness of our clothes within the affordable prices for customers. Customers can fulfill their need of filling their houses with stylish accessories and jewelries within their budget. Customer should be satisfied from our Service.

M – Measurable

We will measure our goals through surveys and setting time and dates and seeing how the product is doing till the dates and through surveys we can know how we can do better and what changes does our customer needs and what satisfies their needs.

A – Attainable

We will achieve our goals by always raising the bar of efficiency and making sure that the customer does stay trendy and up to date with fashion through our clothes or accessories.

R – Relevant

Our store goals are relevant because that’s how we will get loyal customers and make our focus more clear.

T - Time Bounded

Our store will have deadlines for every new trend we start so that in the end we can know if we had success or failure and how we can do better next time.

Customer Needs:

A customer needs their personality to be seen in the things they buy.
Customer wants to always stay on Trend.
Customers need that the clothes they buy should be affordable and classy.
It shouldn’t be hard to find things in the store.
They need a Stylist to help them if needed and the customer service should be on point.

Competitors

ZARA – Zara is a fast fashion brand that gives a tough competition to H&M.
GAP – Gap is also a fashion brand that is giving competition to H&M but still has time to reach H&M level.
Uniqlo – Uniqlo and H&M have almost same prices with the same quality and is a tough competitor in Canada. StakeholdersInvestors that are investing money, Customers that are buying goods from us, Government as any bad decision will have impact on Economy.

Digital Media

We will use 3 types of digital media:

Email Marketing: We will use Email Marketing as we can let our customers know best offers and amazing deals by just email and they can stay updated.
Social Media Marketing: Today the world is totally digitalized and almost everyone is addicted to social media and is up to date. So by promoting on Facebook, Twitter and Instagram we can gain lots of new customers and publicity.
Google Ads: We’ll use Google Ads so that whenever a consumer search for trendy clothes on Google, It’ll show our Ad and the consumer can get attracted through it.

If we do nothing our sales are going to fall rapidly and we will loose our customers and Investors might back off and we might deal with great money loss. We were trying to accomplish a good line of brand that satisfies customer demands in price, quality and trendiness. Success looks like Happiness on Customers Face and Loyalty towards Brand and more publicity of the store. A great goodwill in Market. Doing better than Competitors and a success story to tell.