Kmart SWOT Analysis – SWOT Analysis of Kmart: A American big department store chain that is a big box, Kmart was formed in the year 1899. It is located in Illinois, United States. Kmart is a division of Sears Holdings Corporation. It offers a wonderful shopping experience for all. Kmart offers incredible savings as well as high-quality items. It offers special brands such as Adam Levine, Jaclyn Smith, Route 66, Joe Boxer as well as Smart Sense.
In addition to these services as well as deals business also offers numerous options for financing, which include leasing options. Kmart Pharmacy provides best-in-class patient care to its customers. It is ranked top of the line in satisfaction with its customers.
As a major US discounted retailer Kmart is a major retailer of name brands and private brand products which are primarily targeted at people with low or middle incomes. Kmart has its commercial business operations in more than 1150 off-mall shops, of which there are 17 supercenters.
In this article, we will talk about Kmart’s SWOT analysis.
Kmart fun facts: Kmart is the third largest discount store in the world, behind Walmart and Target.
About Kmart – SWOT analysis of Kmart
Company: S.S. Kresge Co.
CEO: Jeremy Conlin
Founder: S. S. Kresge
Year founded: 1899, Detroit, Michigan, United States
Headquarters: Hoffman Estates, Illinois, United States
Annual Revenue: USD$9.98 billion
Profit | Net income: USD$862 million
Number of employees: 19,434
Products & Services: Kmart is a nationwide retailer of electronics, toys, clothing, bedding, furniture & home decor.
SWOT analysis of Kmart – Kmart SWOT analysis
SWOT Analysis Of Kmart is brand-based. SWOT Analysis of Kmart evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Kmart’s SWOT Analysis. Below is the detailed SWOT Analysis of Kmart.
Let’s talk about Kmart’s SWOT assessment.
Strengths of Kmart – Kmart SWOT analysis
- Great product lines: Excellent product lines Kmart has excellent product lines such as Adam Levine, Jaclyn Smith, Route 66, Joe Boxer as well as Smart Sense. This adds a lot of strength to the brand in order to increase its attention and improve the value of its brand.
- Store site: Kmart’s store is located in an urban location that has a high population. This adds strength to the company since it can increase sales.
- Layaway programs: to customers who want to pay overtime, Kmart provides a layaway plan. This helps the brand ensure its customer loyalty.
- Excellent quality customer support: Excellent customer service Kmart offers excellent customer service. It meets the needs of its customers and takes the time to ensure that the customer’s needs are met.
- The high customer loyalty: Kmart’s brand loyalty is higher for the customers with smaller numbers and as a result, it has seen a significant increase in attention.
- Great Brand equity: Since it has a long tradition in the retail industry It has strong brand equity, which is an important strength of this brand.
- High-quality products: Good quality products Kmart offers high-quality products to its customers. The quality of their products can be seen in food items and perishable items.
- Recognized Awards: The company has been awarded many honors and awards that have enhanced its value as a brand.
Weaknesses of Kmart – SWOT Analysis Of Kmart
- Financial situation: Through the years, Kmart has been in too much debt, which is why it has made applications for bankruptcy under chapter 11. This is a huge problem for the brand since it is a tendency to lose clients that eventually leads to the business losing money.
- Poor supply chain: Poor supply chain Kmart isn’t able to have proper supply chain management. It has proven its inability to compete with other major supermarket chains. In reality, this is an extremely weak point for the business.
- Closure of the store: The closing of the store for a period of time has impacted the brand’s image a lot. This has led to a massive drop in sales.
- Poor market strategy: The marketing method is not well-designed and has not utilized different avenues to reach the customers efficiently.
- Low prices for Suburban stores: Suburban stores – Kmart has put stores with low profits in suburbs that impact its income stream.
Opportunities of Kmart – Kmart SWOT analysis
- The company is expanding its operations: The company sees lots of opportunities all over the world. It is an ever-growing business and offers a wide range of potential.
- Private label: Due to the growth in the private label that the company has experienced, it has improved its image and margins.
- Service expanded: The company sees numerous opportunities to offer catering services.
- Fusions or acquisitions: Kmart’s mergers into new brands and labels bring about a variety of activities throughout its commercial operations.
- The product line improvement: Enhancing the product line can create a massive opportunity for the business since it will be aimed at families in the middle class.
Threats of Kmart – SWOT analysis of Kmart
- Economic recession: When there is a recession across the nation, consumers may shift their purchases to other lower-priced stores. This could be a risk to Kmart’s Kmart business.
- Competition segments: The company is faced with severe competition from three important domains such as Whole Foods, Walmart as well as Target Corporation. This poses a threat to the business and they must perform exceptionally effectively to defeat these rivals.
- Government agencies: New regulations issued by the government could impact the operations of the business. These new regulations could affect the business related to taxes, politics, etc.
- Competitors: Competitors from other top players are growing and there is a need to devise well-planned and well-planned advertising strategies
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