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STRATEGIC FACTORS - SWOT

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Strategy analysis

In this section, a SWOT analysis of H&M has been given in the following table. These results are based on the data from annual reports, interviews with H&M staffs and official website. In this paper, SWOT analysis is the most important part in terms of strategy analysis.

A SWOT analysis of H&M involving the strengths, weaknesses, opportunities as well as threats can be briefly shown in table below.

 

SWOT of H&M (H&M 2009)

Strength

H&M’s strengths include a good brand image and cheap price. H&M has established a strong brand which motivates employees creating unity and attracts skilled work force. The company benefits from a good image from the customers and they have a strong fame everywhere in the world thanks to its huge number of outlets. Also the prices that H&M offer to its customers are really competitive thanks to the cost saving management way of the company. (Alatalo 2011) Cheap price is known by everybody. Their other strength is that they have a wide range and many different concepts. The entire concept of low priced apparel has brought loyal customers for H&M for years. The various departments for women, men, teenagers and children are their foundation. They can work with them in different types of buildings, street locations and shopping centers with very different characters. (Alatalo 2011)

Weaknesses

As the company wants to save money everywhere it’s possible, the distribution system is really slow and it takes a lot of time to deliver a product to the outlet. It may be really bad for the reaction time if the company to the competitors offer. Also the low quality of the product could give to the customers the need to go to the competitors. H&M has amount of suppliers. This is a good thing. However, as H&M’s production units add up to 2700, the control of all these demand great resources and management. If H&M cannot maintain its effective organizational structure, the situation may lead to the failure of control. (Alatalo 2011)

Opportunities

There are several opportunities for H&M to develop its business. As the online market is more and more developed and H&M should start to sell its product online. At the start of 2011, H&M are launching the new H&M Shop Online in the markets where they offer online and catalogue sales already. Shopping experience and functionality have been improved. Around the end of 2010 they plan to start online sales in USA where should be the world’s largest online market. (H&M 2010b.) In addition, the economic crisis was really strong and it may increase the interest of the population for cheap and fashionable clothes. Finally the development of some Asian countries such as Vietnam can give the opportunities to H&M to found new suppliers cheaper and more preferment in terms of quality and time of production. (Alatalo 2011) Some supplier markets with high purchasing power and plenty of customers are with an interest in fashion, just like in our Asian markets, China and Japan. H&M’s expansion is rapid and running parallel on four continents. Many potential projects are running simultaneously and competing with each other. “There are considerably more opportunities for new openings than the stores that we actually door open,” says Stefan Larsson. “During the establishment process we decide against some potential stores. Only the best business opportunities remain. The aim is to create the best H&M stores through a combination of best location and best possible business conditions, wherever they are in the world.” (Alatalo 2011)

Threats

The major threat is that this market is full of competitors that are constantly growing and that are generally aggressive. That’s why H&M should keep its effort in differentiation in order to face this competition.

In addition, there are other risks and uncertainties they cannot avoid and predict. It related to fashion, weather situations, climate changes, trade interventions and exchange rates, but also in connection with expansion into new markets, the launch of new concepts, changes in consumer behavior and handling of the brand. (H&M 2010b.)

The year was also full of challenges. The global financial crisis and recession, with more consumer restraint and discount driven markets, naturally affected. However, H&M recognized that there were things they could have done better too. Self-criticism and striving to make constant improvements are part of H&M’s corporate culture and they work hard to become more efficient in all areas. Increased efficiency also means that they can invest in giving the customers an even more attractive offering.




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