Macy’s SWOT analysis – SWOT analysis of Macy’s: Macy’s is an American department store founded in 1858. Its headquarter is in New York, United States. It is a well-known retailer that sells diverse items such as clothing and footwear, furniture and accessories, bedding cosmetics, jewelry, and homewares. Macy’s is the biggest US department retailer in terms of selling retail and is a mid-priced chain of department stores.
The company is home to 594 stores that are full-line and have Macy’s brand name all over Guam, the United States, Guam, and Puerto Rico. Macy’s main store is located within Herald Square in Manhattan. Macy’s employs around 130,000 people who work for them. Their annual earnings for 2017 are estimated at $24.8 billion.
Being a leader in the retail sector, Macy’s maintains its prominent standing in the marketplace by making sure that the SWOT is being evaluated and reviewed regularly. Let’s discuss Macy’s SWOT study that is carried out by Macy’s.
Macy’s fun facts: Macy’s Director, Margaret Getchell, was one of the first female executive positions in American retail, making Macy’s among the very first stores to employ a woman in an executive role?
About Macy’s – SWOT analysis of Macy’s
Company: Macy’s Inc.
CEO: Jeffrey Gennette
Founder: Rowland Hussey Macy Sr.
Year founded: October 28, 1858
Headquarters: New York, NY, United States
Annual Revenue: US$18.097 billion
Profit | Net income: USD$1.43 billion
Number of employees: 123,000
Products & Services: Apparel | Shoes | Accessories | Cosmetics | Fragrances | Intimate Apparel | Home Furnishings | Miscellaneous Products | Consumer Goods
Competitors: JC Penny | Nordstrom | Ross Stores Inc. | Kohl’s | Neiman Marcus | TJ Maxx | Saks | Darlington | Dilliard’s | Hudson Bay | Home Retail Group | H&M
SWOT analysis of Macy’s – Macy’s SWOT analysis
SWOT Analysis Of Macy’s is brand-based. SWOT Analysis of Macy’s 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 Macy’s SWOT Analysis. Below is the detailed SWOT Analysis of Macy’s.
Let’s talk about Macy’s SWOT assessment.
Strengths of Macy’s – Macy’s SWOT analysis
- Returns are good: Good returns Macy’s has been very efficient in the implementation of new products and has produced a good return on capital investment.
- Customer: Satisfaction The company has a superior customer relations management process in place which has allowed it to attain extremely high-quality customer satisfaction.
- The dealer: Community The community of dealers at Macy’s has a large dealer community that has created an environment of mutual respect among dealer and distribution partners. They are able to promote the products of the company and also invest in training for the sales staff. The purpose of this training is to make sure that customers are informed about what is included in the product.
- Automation of processes: The many processes associated with Macy’s business processes are now automated. This has helped to ensure the high quality and consistency of Macy’s products and enables Macy’s to expand and down according to the market demand customers in the demand of the market.
- The company’s cash flows are free: The company Macy’s has a steady cash flow, which allows Macy’s to fund new products.
- Brand value: Brand value Macy’s has a solid brand value and is renowned for its high-quality service.
- Hosted on numerous occasions: In 1924 Macy’s held the traditional Thanksgiving Day parade for Macy and has also been the sponsor of each year’s Fourth of July fireworks display in the city.
Weaknesses of Macy’s – SWOT Analysis Of Macy’s
- Acceptance of the new technologies: Adoption of new technology Macy’s should be investing more in the latest technology. It must expand its operations across various geographical regions. This means that it needs to spend more on technology in order to incorporate the process.
- Reduced the market: Macy’s market share Macy’s is shrinking because of competition.
- Expanding business: Presently, Macy’s has only two areas in its business activities. These comprise Macy’s as well as Bloomingdale. The company must expand and create new affiliates in order to continue to grow the business.
- Limited worldwide presence: Limited global presence Macy’s has a small worldwide presence, which is one of its biggest weaknesses. It needs to focus more the international marketing, as well as online marketing to gain more recognition.
Opportunities of Macy’s – Macy’s SWOT analysis
- Emerging opportunities for international markets: At the moment, Macy’s business operations are solely focused on its United States market. However, they consider the chance to expand their business operations to the global market in countries like India, Dubai, and other areas of the Middle East and Asian markets. This way, the business will be able to increase the value of its market share, which is expected to rise at a higher level.
- E-Commerce creation: Bringing their business operations by putting them online has helped customers get connected to their company.
- A low inflation rate: The low inflation rate has brought more stability to the market. It offers credit at a low cost to clients from Macy’s.
- The new stores: Macy’s is able to open a new store in order to grow its sales and gain greater branding recognition. This will allow them to be able to serve a greater number of customers from all regions of the globe.
Threats of Macy’s – SWOT analysis of Macy’s
- New technology from a competitor: The latest technologies created by their rivals to improve their business operations could pose an extreme risk for their businesses.
- The largest retail chain: Macy’s is the bigger retail chain. Macy’s is a frequent target for the competition from larger retail chains that could affect their business.
- Economy state: Unfavorable economic situation and various policies of the government can cause a major obstacle to their business.
- Changes in the behavior of customers: A change in the buying habits of customers via the internet platform could pose risk to the existing infrastructure of the supply chain model that is part of the physical infrastructure.
- No new and innovative products are available regularly: There are no new products on a regular basis. Macy’s has created a variety of products over time, however, they are not in response to the advancement of competitors. The availability of unique products isn’t frequent enough to can affect their sales.
Overview Template of Macy’s SWOT analysis
Macy’s is the largest department store company in the US. In terms of revenues, it is also the most prominent company in the world. Macy’s business started in 1858. Since then, the company has gone through many ups and downs. Today, however, it is one of the top names in the market. A detailed SWOT analysis of Macy’s is provided above.
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