Retail Store Swot Analysis Essay

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5.3 SWOT ANANLYSIS Strength • With cultural globalization, more people aware of the latest fashion trends and accept new cultures • With development, spending power of people has increased • Indian retailers have steadily begun to accept global trends • Service to shoppers is prime objective to many retail brands Weakness • Inability to create attractive store designs • Majority of retailers unable to understand the importance of visual merchandising • Lack of professionals present in this new field • Major dependence on foreign companies • Inability to understand the customers’ nature Opportunities • Expansion of brand through technology • A huge population that needs to be attracted to stores • The need to convert unorganized retail …show more content…

This starts with exploring the study to a larger experimental group with a broad range of characteristics, such as demand, growth, careers, geographic location, age and ethnicity may result in differing outcomes. These may provide the guidelines for a brilliant marketing strategy. Secondly, more the introduction of any technology based concept, the developed cities should be the first destination for their application. This would include high end luxury brands and big malls. Favorable results from these cities can be a model for the next major cities. It is predicted that India may have around 50 major cities by 2025. So the scope is very vast through effective measures. The next idea for future studies would be to run the same experiment in Indian department store or boutique retail setting at local levels. The objective here can be achieved by changing the buying context for men and women especially the youth, because shopping context may change shopping value results. One cannot expect to put up interactive windows and mannequins straight away in rural emerging markets. Change the mentality of the customer first then the business approach. This can be achieved by the role models discussed earlier for cities. The entry to towns via cities is

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