A merchant's guide to assembling the team, and conducting a SWOT analysis for category, brand, promotion, customer segmentation, or marketplace.
Mech/ Merchandise /Revenue/Gross Profit/Margin/Dollars/Data/Ecommerce/Omnichannel/Retail
7. When?
° Ideally every 6 months
° Minimally every 12 months
° As market conditions dictate:
• shift in consumer behavior
• disruption in marketplace
• emerging competition
8. How?
Steps to Conducting SWOT:
1. Gather Team
2. Generate Ideas to 4 Quadrants
3. Prioritize Action Steps
9. Kick off the
discussion with
questions for each
quadrant
STRENGTHS WEAKNESSES
OPPORTUNITIES THREATS
10. Strengths
Questions for brainstorming:
° What products dominate?
° What brands stand out?
° What assets do they bring? Exclusivity? Differentiation?
° Where can we deliver value?
° What service/benefit can only be provided by us?
° What physical assets do we have?
° What is unique?
° What are our competitive advantages?
° Where can we win?
11. Weaknesses
Questions for brainstorming:
° What products are falling behind?
° What is post-peak lifecycle?
° What is needed to be competitive?
° What processes need improvement?
° Where aren’t we executing with excellence?
° Where are resources needed?
° Are there gaps in assortment?
° Are we resonating with target customer?
12. Opportunities
Questions for brainstorming:
° Is the market growing?
° What are new emerging trends?
° Has consumer expectations shifted?
° Is there a need not being addressed by others?
° Is a product use evolving?
° Is demand outpacing supply?
° Has raw material availability increased?
° Has regulations changed favorably?
13. Threats
Questions for brainstorming:
° Is the market collapsing?
° Has consumer behavior shifted?
° Is there an oversupply?
° Are there new competitors entering market?
° Could future technology impact business?
° Are raw materials scarce in supply?
° Are prices rising?
° Are there new market trends?
14. Convert SWOT
to Strategy
1.) Leverage key strengths to take advantage of
opportunities and combat threats.
2.) Define how external opportunities can
mitigate and minimize internal weaknesses
3.) Outline action steps and tie to execution timeline