Swot Analysis Of Retail Industry

Retail Industry (I have to talk about the industry in general)

Retail involves the process of selling goods or services to customers through multiple channels of distribution to earn a profit. Demand is identified and then satisfied through a supply chain. Attempts are made to increase demand through advertising. The retailing strategy is a marketing plan abstractly designed to offer its products and services in a way that will optimize customer satisfaction. Service quality and marketing mix strategy have significant and positive association on customer loyalty. The marketing strategy effectively outlines all key aspects of firms targeted audience; demographic and preference. Throughout a highly competitive market, the retail strategy sets up long-term sustainability. It focuses on customer

Granted, loyalty to the brand is only as valuable as the company’s ability to offer competitive prices and services, so it has retooled its marketing approach and focuses predominantly on digital advertising. Successful track record in e-commerce. Internet Retailer estimated that Best Buy’s online sales were growing at a rate of 16.7% a year in March 2015. Best Buy generated around $3.54 billion from its online sales.

Down scoping, Part of the company’s resurgence included the sale of many of its international assets. In 2012, its Best Buy Europe venture was terminated only 11 stores into its 200-store goal. The year before, it exited the Chinese market. In fact, it’s only markets outside the United States are in Canada and Mexico. But while lacking in other regions, management remains confident that its strong foothold in U.S. can drive the company’s year-to-year growth down the