Consider your assets including plant and equipment Assets are really only shop fittings and stock with two computers and software. No Do you have long-term rental contracts for your business locations? No, same as our competitors Are your products unique or market leading? No, stock is the same as our competitors.
HR management not very well by some major retailers: Walmart and Amazon fair poorly High work pressure on staff Increased competition has resulted in constant changes in pricing Higher competition means more pressure related to pricing and weaker margins Opportunities: Growing competitive pressure from internal and external players.
Changing demographic patterns causing change in consumer buying patterns Economic uncertainty and regulatory pressures Trends shaping the retail industry: Technology will drive the growth of the retail industry.
However, the focus of the retail industry must be on operational excellence to be derived through the use of technology. Rather than pushing sales, the brands must focus on engaging their customers by focusing on customer engagement.
Retailers would need to think beyond technological innovation to what the customers are going to love and adopt.
Retail brands must think how they can use augmented reality, Artificial Intelligence, Robotic Process Automation, Wifi and Cognitive Intelligence Technologies to better cater to customer needs and preferences. Other important things that are going to impact the condition of retail are Internet of things, cloud computing and distributed intelligence.
Apart from it, the retailers will also need to focus upon the privacy and security concerns. So that they can thrive inthe retailers will need to be both agile and flexible.
Mobile payment options have become important more than ever for the millenials. Similarly, in store use of technology to help the consumers find what they are looking for is also important. The labor market and the economic conditions both are favorable and it means growth and profits for the retail sector.
|Popular Topics||The company deals with the sale of electronic goods, general merchandise, liquor Safeway liquor as well as grocery.|
|US Retail Industry: An analysis with SWOT - Risks and opportunities||A SWOT analysis for retail is a detailed look at the retailer's strengths, weaknesses, opportunities and threats versus key competitors in the marketplace. Strengths and weaknesses are considered internal factors, over which a retailer has more control.|
Growth in disposable income and hourly income has strengthened consumer confidence and that means better business for the retailers. However, on the one hand while the growing consumer confidence is a positive sign, the retailers will also find themselves amid tight competition. Growth in digital technology will also mean that more and more players will enter the market.
Most of this competition is coming from the small players. The changing dynamics will add to the competition in the market. Several non US brands are all set to increase their presence in the market. Low price international retailers like Primark, Aldi and Lidl are trying to gain a strong foothold in the US market.
Lidl, A European grocery chain, is planning to open as many as stores across US and of them will be opened by mid Another German discount grocer Aldi has already created an impressive presence in US with its more than stores.
Now, Lidl is trying to set itself apart from Aldi but will need to do a lot to catch up.SWOT Analysis of the Retail Sector. Week 4 Presentation by Mathew Meeten on 15 October Tweet.
Report abuse. Transcript of SWOT Analysis of the Retail Sector. The Retail Sector A SWOT Analysis The Retail Sector There are many different aspects to Retail, such as # Food and Drink # Clothing # E-commerce.
In the past several years it has seen very fast growth. Read a SWOT analysis. Read more. The retail industry is being shaped by new forces and trends. In the past several years it has seen very fast growth.
Read a SWOT analysis. Read more. This Amazon SWOT analysis reveals how the largest online retailer used its competitive advantages to become the dominant player in the retail industry.
It identifies all the key strengths, weaknesses, opportunities and threats that affect the company the most. Swot Analysis on Retail Strategies of Iocl Words | 49 Pages.
CHAPTER -1 INTRODUCTION INDIAN PETROLEUM SECTOR Management of retail business is the key determining factor in the success of any business.