Market Analysis: TJ Maxx

1240 Words3 Pages

Market Analysis

Industry Description The ecommerce industry is growing faster than ever. TJ Maxx needs to start focusing more on ecommerce not only to keep up with competition, but also to make sure they do well during weak economic periods. ecommerce, overall, tends to do very well during lackluster economic times. TJ Maxx will be able to cut costs more easily the more they expand their ecommerce business. Our business idea will allow them to expand their ecommerce as we will take over their website and delivery. TJX Companies’ three ecommerce sites accounts for only about 1.0% of the company’s total sales. However, the online channel is a key growth driver and TJX is taking initiatives to improve its online business. The ecommerce sales …show more content…

As mentioned in our presentation, a small survey we conducted showed us that the main reason why people do not buy clothing online is because they are unsure of the size and quality. This showed us that the probability of someone ordering a good will increase by a significant amount, significant enough to cause a large sales increase. The other problem people face with many other online clothing retailers is the inconvenience caused if they need to return a product. With our service, the customer does not pay the price for the product and has considerable amount of time to come to a decision as to whether or not to buy the product. This removes any remaining doubt in the customer’s mind and increases customer confidence levels.

Target Market Survey: Would You Be More Willing To Buy An Item Of Clothing If You Could Try It On …show more content…

While there are services similar to ours – such as – when a customer shops online they are not choosing between services that allow them to try clothes on online. Our service is valued in the context of their total shopping experience, not as the end-all, or in other words the appeal of our product to them is not simply that they can try on clothes when shopping online, but that in trying on clothes when shopping online they can be more sure of as to whether or not the clothes will look or feel right, enhancing their total shopping experience. Therefore, in evaluating our impact on customers, our competitors will be viewed as other ecommerce websites (against us as the totality of TJX’s ecommerce and in particular how we enhance the value of

More about Market Analysis: TJ Maxx

Open Document