Homework Question on SWOT analysis of Macy’s, Inc
- SWOT Analysis of Macy’s, Inc. You are a manager at Macy’s Inc. and need to do an analysis for an upcoming meeting. Data/internet sources must be recent- sources from 2013 to present.
- Include the mission statement of Macy’s, Inc.
- The analysis should not be longer than 3 pages. Precision and facts are better than tons of words- but it must be accurate.
- What are the advantages of Macy’s presently?
- What is Macy’s competitive advantage over other retailers?
- What are their unique selling points such as physical assets, salesperson expertise, data, or finances?
- How is the product mix a strength?
- What are the disadvantages of Macy’s presently?
- What are Macy’s vulnerabilities?
- What is the level of consumer satisfaction?
- How does the economy affect Macy’s?
- Where and in what products can Macy’s expand?
- How can Macy’s look at demographics to expand market share?
- How does Macy’s react to changes in the economy? – Either nationally, or globally
- How do changes in fashion create opportunities?
- Will there be any political or economic changes to threaten profitability?
- Will employee turnover or loss of key staff be a problem in the future?
- Is the profit/loss statement or financial figures stable?
- Are there any other obstacles that will not be able to be overcome?
Homework Answer on SWOT analysis of Macy’s, Inc
The initial store of was started to operate in 1858 and was acquired by Strauses several years later on. “The company operates about 840 stores in 45 states, the District of Columbia, Guam, and Puerto Rico under the Macy’s and Bloomingdale’s banners that ring up almost $28 billion in annual sales”(Macy, 4). The mission of the company is “to reduce both costs and processing time in distribution of merchandise”.
The company has its strength that enables it to outpace other competitors and take the lion’s share of the market. The company has managed to retain many customers due to their quality products have made them to maintain loyal customers and get other customers who also connect others to the company. The company has an advantage over others for the reason that it has established a strong customer base. The distinctive assortments that are offered by the store including the most desired family of exclusive and fashion brands for home makes it to have a competitive advantage over others.
The product mix is strength to the company for the reason that it provides its customers with a variety unlike other competitors who have specialized in specific products. The stores have a good reputation that has enabled it to remain one of the most preferred by the customers. The company has also focused on an upscale niche and quality products unlike other competitors who are interested in profits. Lastly, the large network of the stores in the whole world and staff with expertise makes it to outsmart firms dealing with similar products. The company has also a website referred to Macys.com utilizes a variety of leading-edge technologies for big data, most of which are not used elsewhere within the company (Sara, 15).