Target Swot Analysis

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According to Diversity, Inc., around 15 to 16 million or at least 6 percent of Adult Americans of U.S. population are in the LGBT Community, but there are many estimates which show as high as10 percent and they have large amount of network for people who support them as a community. In addition, the buying power of LGBT community is huge and they spend more than household community in general. Data statistics have shown about $712 billion and projected to reach $835 billion by 2011. Based on U.S. Census Bureau and the Washington D.C. Urban Institute Report, two-thirds or 67 percent of same sex couples own a home, 19.6 percent of homeowners live in a home valued at more than $250,000, and 5 percent live in a home valued at more than $500,000. From income perspective, their annual household income is above the national average of $40,000 and 30 percent of LGBT individual annual income is above $100,000. Therefore, based on the size of LGBT community, their buying power, and their household income, these factors can help Target to find who
Target also released advertisements featuring LGBT families. Target also publically supports LGBT employees.
Some weaknesses Target has in attracting LGBT consumers is they were not one of the early companies to have taken a stance in regards to the LGBT community. The brand also has history of supporting anti-gay rights politicians.
A few opportunities that Target can take advantage of are that some competitors are not willing to publicly show support for the LGBT community. The LGBT community is also continuing to grow
Threats - competition taking stronger supporting stance of LGBT community. The amount of conservative consumers that will leave Target for more conservatively aligned brands. Potentially viewed by LGBT community as trying to cash in on public

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