Topman SWOT Analysis Strengths: Topman already has more than 309 fashion stores nationwide with another 50 stores outside the United Kingdom division. Topman boasts the worlds largest fashion store in London with over 200,000 shoppers per week, Topman gets twice deliveries per day and 7,000 looks per season. In the year 2006, Topman’s operating profit hits 110 million with its annual sales of 600 million now. It brings a strong brand image of Topman based on the successful achievement to consumer’s mindset. Strong brand image builds confidence and reliability towards Topman’s product. In a nutshell, expending Topman’s market in Vietnam has a strong potential to gain sustainable profit. Topman has their very own Internet website where customers are able to do online purchasing. This indicates that Topman products are not only sold in retail outlets but also through the internet. Products can be sold out quickly indicates that Topman has high sales and the profit made is also higher. People can also gain latest information by accessing the website. Topman provide delivery service for its customers who purchase its products online and Topman makes sure that the products are delivered to its customers on time. This makes shopping accessible to everyone including the international customers and indirectly gain the customers trust with its best service. From the website alone, you can buy clothes for the season and also to check out the latest trends. Topman also offers pod casts of new line of collections, thus keeping up with the new technology and generates more sales. On the other hand, Topman also offer pants' amendment services to its customers and they make sure every Topman retail outlet will have a personal style advisor. ... ... middle of paper ... ...ector and the marketing director have also handed in their notice, and can they move forward from this. Although Vietnam is rapidly developing, the poverty percentage of the particular country is still high. Topman is considered to offer midrange prices to its customers but the currency of Vietnam is gradually low and unstable compared to the currency of United Kingdom. Therefore, Topman’s product might be considered expensive for most of the Vietnamese when products are converted to Vietnam Dong, which is the currency of Vietnam. As the price of fuel is increasing rapidly, same goes with the logistic expenses. Topman varies each of its collection every two weeks. Therefore, there will be frequent shipment of its products to Vietnam from United Kingdom. The price of Topman’s product will be slightly higher as logistics expenses are added in the cost of the products.
The company has established good relationships with most of its customers which has assisted it to create high level of brand and customer loyalty
The company had to be the second largest retailer shop in the US; it has many advantages that come along. The customers well acknowledge the company and its brand have been well established.
When shopping the average consumer does not look beyond the physical product, ignoring the production process or considering what went into the creation of the product. Forever 21 is one of the world’s leading clothing stores, with it’s headquaters in Los Angeles, CA, it is considered the fifth largest retailer in the United States making $4.4 billion in revenues (projectjust.com). As of 2015, they had 723 locations, the company employs over 30,000 people (ProjectJust.com). Forever 21 is known for their inexpensive clothing attracting a wide range of consumers, however, what is not as well known is the process they goes into their clothing. To keep their prices low, Forever 21 buys their supplies from sweatshops, home and abroad.
Threats: An increase in competitors with a similar target market could be a major threat. Competitors such as Patagonia have had positive publicity for its aggressive corporate social responsibility initiatives. Patagonia also has a highly developed company culture. Columbia is another competitor in the industry that could be considered to be more affordable when compared to North Face prices. This increase in competition forces consumers to do more research before the purchase is made.
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
For the past few years, the demand for NARS products from the website has increased, especially by customers from GCC countries. People order the products online and pay extra charge for the shipments. However, due to some reasons, the shipping company may have problems or delays deliver the products. NARS’s Customer service receives many complains from GCC customers about the shipping; shipment arrived incomplete; the shipment was delayed, these problems will
The fashion industry has changed over a period of time due to the growth of boundaries. This is attributed to the varying dynamics of the industry; declining mass production, altered structural aspects in the supply chain, need for more affordable cost and quality. This shows that fashion retailers are able to acquire a competitive power in the market through making sure through which they get their products to the market for the consumers (McAfee, Dessain, & Sjoman, 2007). Consumers are hence able to get product easy and of high quality. Fast fashion has been able to meet the needs of consumers while trying to acquire major merchandize turnover to retailers than local rivals. The Zara case study reported sales $8.15 billion to its competitors Hennes & Mauritz 0f $7.87 billion (Dutta, 2002). This was the consumer’s one stop shop due to the quality products offered both globally and locally.
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“Flagship stores are stores which are mainly used to showcase the brand of the items and do not fully focus on profits and revenues” (Joy , et al, 2010).ES thought of using these flagship stores as an entry mode especially for strategic locations such as Paris, Beirut and Dubai. These locations had their own importance as they were the hub for fashion house and helped in company’s market development. Apart from flagship stores the company also had direct stores in Beirut and Paris to ensure that it has full control on these stores and could market their products in these stores. “ The advantage of having direct ownership is that this falls under your custody and you don’t have to depend on external agencies to promote your products” (Brondoni and Fabio , 2010). The quality of the product will not be neglected. The other advantage of having your own store is that you don’t have to compromise with the profit margin and its up to you to decide what profit margin you would like to go with for each item. However one of the disadvantages of having direct store ownership is that you will have to bear the overhead cost and at the same time also you may not be having enough knowledge about the local market. Direct stores also involve hiring of right staff, their trainings and
It is suggested for any organization to review, reassess any existing supply chain management or any delivery techniques, before developing a new supply chain method so that any exposure to high risk of failure is reduced. Somerset as a company taken advantage of outsourcing and transferred it product manufacturing to China leveraging low cost labor and raw material. The labor cost and other cheap material reduce Somerset overhead cost, but there is always the risk of not delivering product on time due to the foreign country political climate, change in tax and tariff and local
As this target segment prefers quality overs other factors, Mega Bloks should invest in product research, design and engineering. The company should focus on product quality enhancement by making exclusive products that distinguish them from their competitors. By producing products that are unique to the company, it can emerge as a world leader on the global platform. Further, they should create an online market and focus on the customers who like to shop online and are interested in the products that they sell. In today’s digital world, online shopping has become one of the emerging trends for shopping for all the
In the modern world we live in, international business plays a key role in the functionality of countries resources and economy. The ease at which people can purchase goods from another country and the outsourcing of brands has now meant international barriers has been squashed and large corporations are more accessible than ever. In recent times, the huge and unbridled up rise of Multinational Corporation is the Famous Japanese clothing brand UNIQLO. UNIQLO's full name is UNIQUE CLOTHING WAREHOUSE, it is defined by the inner meaning of unnecessary decoration decorative abandoned warehouse type store, supermarket shopping using the self-service model, in order to provide a reasonable and credible customers want commodity prices. It is arguably Japan's most successful local fast fashion brand, began in the 1980s, developed in the 1990s. 1980s, Uniqlo focuses on the basic design of unisex casual wear, such as shirts, jeans, sweaters, etc., although these fashionable clothing, but do keep up with changes in fashion. Secondly, the introduction of Japan's first hypermarket style clothing sales, in the form of warehouse stores, with " reasonable and credible prices and large continuous supply, allows consumers one-stop shopping. The most important thing is moving the factory to cheaper places, lowering production cost, allowing prices for consumers to stay extremely low in comparison to other fashion outlets but at the same time staying at a high rate of quality. Through the unique product planning, development and sales system to store operations to achieve cost reduction, the shape of the Japanese consumer 's favorite leisure brand.
the global leader in online retail. By taking advantage of the opportunities to capture the market
The SWOT analysis is a useful tool for identifying our personal strengths, weaknesses, opportunities, and threats to our plans and goals. According to a “Fuel My Motivation” article (2010), this analysis considers internal influences that can positively or negatively affect our ability to achieve our goals. The internal factors are our strengths and weaknesses. Also considered are opportunities and threats, which are external influences that can have a positive or negative impact on the ability to achieve our goals. I will share how the self-assessment instruments and self-exercises in this course have contributed to assessing and understanding my strengths and weaknesses. I will also discuss techniques I will use to leverage my strengths and understand my weaknesses. In addition, I will consider opportunities that I can take advantage of and the threats that can possibly impede my progress.
Mr. Price is a fashion retailer; this report will focus on the clothing department. Mr. Price clothing aims to sell trendy fashion items at competitive