Case Study: A SWOT Analysis In Retail Store Part 2

In the previous article Case Study : A SWOT Analysis In Retail Store, has discussed the data obtained for the project of SWOT analysis in a store X which includes Man, Material, Method, Machine, and Environment. Now let us discuss all these data in a SWOT analysis.

1. Analysis of Strengths

In human resources, store X have employees who have a deep knowledge of music. It lists different types of its own power to perform customer service. Products sold at Store X assured of quality and originality. Defective products are not displayed in store. Alternative purchase policies and customer needs analysis offered by their employees are proven to attract more sales. With the completeness of the supporting equipment along with an attractive interior design, necessarily becomes its own power to attract customers to visit this store.

2. Analysis of Weaknesses

Store X has 5 employees who are directly under the Store Manager. Without a supervisor, it is possible that focus of the work of Store Manager to be reduced due to internal and external store problem is handled entirely by the Store Manager without any opinion or policy input assistance from supervisors. Although there has been an employee who has worked more than 3 years, but it is known that the knowledge of the movie is still lacking. This leads to fewer movie sales as compared to music sales. Although types of music and movies are available at this store, but the diversity of artists and albums in Store X is still lacking. Damage to one listening desk may cause a little hamper smooth operation in customer pampering. Without information about the location of this store, the store is relatively less known to the visitors. Store X does not sell movies that are still running in theaters. Latest movies at the store X is the movies that have been aired the previous 2-3 months.

3. Analysis of Opportunity

Stores X are very likely to be the only stores that sell entertainment products in these areas, because in the next few radius kilometers there is not a store that sells similar products. Location of the supermarkets that located in large and free roadside jam also provide an opportunity to attract customers in the region. Brand Image of Store X are well known and make it easy to acquire customers. The next opportunity is the absence of movie theaters and video rental shops around.

4. Analysis of Threats

When the first time entering this store, the entrance to this store was blocked by the outer products owned supermarket. This threatens the existence of the store to attract customers. Supermarket management policy requires customers to enter a first floor before heading to the 2nd floor, though already available escalators in front of the store leading directly to the 2nd floor. It is perceived as a threat because it can change the customer desire to buy. Interest in the movie which is owned by consumers in this region are lacking. They still think that is more comfortable to watch movies in cinemas or by way of hire, and some even thought that the films in this store have fallen far behind the trend that already exist.

All analytical results are then more easily read through the following table:

That's the discussion of SWOT analysis results based on five elements are observed. The next stage is the Case Study: A SWOT Analysis In Retail Store Part 3, which at this stage developed a strategy based on SWOT analysis of the five elements. This third stage is the last stage of the project SWOT analysis and strategy at a store whose goal is to run business can survive and flourish.

Simplified Analysis For Surviving Your Store

Life and death of a company is largely determined by the company's ability to compete with competitors competing for existing markets. To win a competitive business, a company is required to have the ability to analyze themselves and their environment appropriately and carefully. This analyze ability is actually an art of doing business that is owned by people inside the company. Ability to analyze not only be owned by business owners, directors, or managers, but this capability must also be owned by people who are at the forefront of a company. In this case, if you have a store, then your store clerk should have this capability.

Ability in capturing the consumer directly is a task that must be carried by stores, and Store Supervisor is the foremost leader in this system. Because it is the leaders in this line should certainly have the ability to analyze themselves and their environment to be able to support the survival of the store.

Basically, the ability to analyze consists of four parts, namely the power of self (Strength), self Weakness (Weakness), Opportunity in businesses (Opportunity), and the Threat in businesses (Threat). It is called SWOT Analysis, the ability to analyze themselves and their environment. Each shop must periodically update this SWOT analysis, because this analysis aims to determine the strengths, weaknesses, opportunities, and threats that exist in a store, so it will be a strategy in the face of all obstacles facing the store.

Certainly there are necessary data to support this SWOT analysis. The data required are the primary data and secondary data. Primary data is data obtained from direct observation in the field, in this case in-store. Secondary data are data collected from several sources, including:

1. The data on store locations, organizational structure, and inventory items.

2. Interviews with the competent authorities, in this case is the store manager, store supervisor, cashier, and store crew.

3. Interview with outside parties which in this case is the consumer stores, tenant, and building security.

The data obtained should represent each observation in terms of a SWOT Analysis which includes man, machine, methods, materials, and environment (4M +1 E).