Affiliated Institution
The purpose of this paper is to perform a SWOT analysis to one of the most famous stores, the $23.3 worth Macy`s stores (Forbes, 2015). We are going to get an insight to the company`s internal company`s strength, weakness, external opportunities and threats.
Strengths:
The most remarkable internal strength that Macy`s has as an asset, is its branding. The brand became an essential element to the US culture. Moreover, their product specialization for the consumers is simply outstanding (The Magic of Macy`s, 2016); whatever you are searching for, we are pretty sure that you will find it at their store.
Weaknesses:
On the other hand, since this huge entity has more than 166,900 employees (Forbes, 2015); the turnover rate is relatively high compared to others. In addition, the company is going so hard on the specialization concept that it gave the impression to its employees, that they are more of a machine, than they are an important stakeholder to the entity.
Opportunities:
As a retail store, Macy`s has multiple opportunities; the company can extend its reach and open more stores across the country. Also, with all of the technological advancement that the e-commerce is witnessing; Macy`s can infiltrate various markets such as India, Europe, China and Japan. Last but not least, working on their product development to deliver more specialized products to their customers is a fruitful opportunity too (Mendoza, 2013). From where I see it, I see endless opportunities for the company in this industry.
Threats:
Competition within the industry is the ultimate threat for Macy`s. With other giants such as Dillard`s Inc., J.C. Penny Corporation, Inc. and Saks Incorporated, Macy`s have multiple threats that need to take into consideration (Hoovers, 2016). The battle for the largest market share in this fierce market is the hardest. Yet, with the proper go to market strategy and the right pricing strategy, those two factors can be the reason behind the lead for one of the companies as a key player in the industry.
References
Forbes. (2015). The World`s Biggest Public Companies. Retrieved from http://www.forbes.com/companies/macys/
Hoovers. (2016). Macy`s, INC. Competition. Retrieved from http://www.hoovers.com/company-information/cs/competition.MACYS_INC.954ec8ce037ed0d1.html
Mendoza, K. (2013). Macy`s SWOT Analysis. Prezi. Retrieved from https://prezi.com/jwddvhqy4a4w/macys-swot-analysis/
The Magic of Macy`s. (2016). Retrieved from http://www.macys.com/?&cm_mmc=GOOGLE_Trademark_International-_-Macys+Trademark+Egypt+-+G_Macy%27s+Egypt-_-43773988654_Exact-_-macy%20s_mkwid_suVDVuZaQ|dc_43773988654%7C-%7CuVDVuZaQ&gclid=CM-0nf2llcwCFTUo0wodZ3oMhA
