competitive
You will complete a competitive analysis on any of the companies we are visiting this semester. Please make sure you identify that company when you submit your final competitive analysis.
Competitive analysis allows us to better understand the market around us and help to better inform strategies that will allow us to have an advantage over those competitors, both direct and indirect. We want to understand the strengths and weaknesses of those competitors as well as those barriers which will allow new competition from coming in and taking over. This is invaluable to you as a future industry leader.
Please use the template provided to guide you as you complete this project. This should be completed in PowerPoint. Examples of previous work are included in the module titled ‘Competitive Analysis’. Please use the template attached to guide you through what I am asking for at a minimum. Please make sure you are completing each component of the competitive analysis based on the template.
https://sswm.info/sites/default/files/reference_attachments/SAASNET%20NO%20YEAR%20Competitive%20Analysis_0
Company: Nebraska Furniture
direct competitor: Ikea Furniture
Indirect competitor: Urban Outfitter and Wayfair
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| COMPETITIVE ANALYSIS | |||||||||||||||||||||||||||||
| Competitor 1 | Competitor 2 | Competitor 3 | Competitor 4 | ||||||||||||||||||||||||||
| Direct Competitors | Indirect Competitors | ||||||||||||||||||||||||||||
| Company Highlights | Company Profile | ||||||||||||||||||||||||||||
| Competitive Advantage | |||||||||||||||||||||||||||||
| Market Information | Target Market | ||||||||||||||||||||||||||||
| Market Share | |||||||||||||||||||||||||||||
| Marketing Strategy | |||||||||||||||||||||||||||||
| Product Information | Products & Services | ||||||||||||||||||||||||||||
| Pricing | |||||||||||||||||||||||||||||
| Distribution Channels | |||||||||||||||||||||||||||||
| SWOT | Strengths | ||||||||||||||||||||||||||||
| Weaknesses | |||||||||||||||||||||||||||||
| Opportunities | |||||||||||||||||||||||||||||
| Threats |
Competitive Analysis
Company Highlights
Direct Competitors:
Company Highlights
Lovers and Friends
Raissa Gerona, and Mitch
Moseley launched the fashion
brand, Lovers and Friends, in
2010. Since then, the brand
has become a blogger
favorite. The brand prides itself
in its origins, and strives to
create content and product
that reflect it.
Competitive Advantage:
Lovers and Friends’
competitive advantage is
attached to the fact that they
are very much connected to
their L.A. origins. This pride,
which reflects in their brands’
image as a whole, has allowed
them to attract and develop
an L.A.-loving cult that is
devoted to sporting their
goods.
Shrimps
Shrimps is a fashion label
created by London-based
designer, Hannah Weiland. It
was launched in 2013, and has
grown immensely since then.
Originally gaining widespread
recognition as a result of the
faux fur coat, the label has
now also become
distinguished for its
accessories.
Competitive Advantage:
Shrimps’ competitive
advantage is the fact that it
has become known for leading
the conversation on
cruelty-free fashion. As a
result of this, they have gained
a niche and special market
that only they can cater to.
Indirect Competitors:
Company Highlights
Nasty Gal
Nasty Gal was founded in
2006 by Sophia Amoruso in
San Francisco, California. It is
an L.A. based brand that
began by selling vintage
pieces on Ebay, and thirteen
years later has grown into an
appealing fashion brand
directed at young adults; it
now sells clothing, shoes, and
accessories under its own
label.
Competitive Advantage:
Nasty Gal’s competitive
advantage lies in the fact that
it was founded by a person
whose story has inspired its
customers, and which has
created a loyal and special
following for the brand.
Asos
Asos is a British online fashion
retailer. The company was
founded in June of 2000, and
is directed at young adult
consumers. The brand sells its
own line of goods, and also
carries other brands.
Competitive Advantage:
Asos has a competitive
advantage in that it provides
the customer with various
options in regards to brands
and styles. Not only that, but
the brand is inclusive of all
shapes and sizes, and makes it
evident through their website
and content.
Market Information
Shrimps
Target Market:
★ Ages 25-45
★ Includes various ethnicities
★ Mature female professionals
★ Income: $90,000-$120,000
★ Location: City
★ Lead a sophisticated, luxurious
lifestyle
★ Aware of the impact of their
purchase
s
Direct Competitors:
Market Information
Market Share:
Since its emergence in 2013, it is evident that Shrimps has gained
immense market share, and continues to do so. This is evident
through the brand’s faux fur specialty, which has created a unique
set of customers for the brand that only they appeal to.
Marketing Strategy:
As for their marketing strategy, like other newer brands, it seems to
be more focused on social media platforms, such as Instagram. The
brand uses these platforms to promote, advertise, and to even sell
their products through the provision of links.
Lovers and Friends
Target Market:
★ Ages 18-30
★ Includes various ethnicities
★ College students and young female professionals
★ Income: $30,000-$90,000
★ Location: City
★ Trend-driven, and L.A. lifestyle living
★ Composed of bloggers and aspiring influencers
Direct Competitors:
Market Information
Market Share:
Since its launch in 2010, Lovers and Friends has gained further market
share as a result of their L.A. lifestyle-focused content and products.
The brand has captivated the L.A. loving consumers, as well as famous
bloggers and influencers that have helped spread knowledge of the
brand, which in turn has helped increase their market share.
Marketing Strategy:
As for their marketing strategy, Lovers and Friends, like many other
contemporary brands, has capitalized on promoting their goods
through prominently used social media platforms, such as Instagram,
to promote, sell, and advertise. Further, they make sure to stay relevant
by collaborating with influencers in order to boost interest in the brand.
ASOS
Target Market:
★ Ages 18-30
★ Includes various ethnicities
★ Young adults
★ Income: $20,000-$60,000
★ Location: Suburbs and City
★ Embrace their uniqueness
★ Support body positivity, inclusivity, and diversity; and it is
important that the places they shop at support those too.
Indirect Competitors:
Market Information
Market Share:
As mentioned in their 2018 annual report, Asos saw a 26% increase in
global sales, which allowed for continued growth in their market share,
both in their home market, and outside. Specifically, in 2018, the Asos
market share in the U.K. was 7.4%, 1.6% in European countries, 0.5% in the
U.S., and 0.4% for the rest of the world.
Marketing Strategy:
Given that they are based online, Asos promotes, and advertises their
goods through online and social venues. These online and social venues
mostly include Instagram, among others. Further, email marketing is
commonly used to reach their customers.
Indirect Competitors:
Market Information
Nasty Gal
Target Market:
★ Ages 18-30
★ Includes various ethnicities
★ College students and young professionals
★ Income: $20,000-$60,000
★ Location: City
★ Are bold, outspoken, and striving to do better everyday
★ Support hard working girls with a dream to become
successful
Market Share:
Since its establishment in 2006, Nasty Gal has gained incredible
market share. This is especially evident since its early beginnings
when it was only selling vintage clothing out of Ebay. Today, it
produces its own set of products that appeal to young adults,
whom follow the latest trends.
Marketing Strategy:
As for their marketing strategy, like many other fashion brands
today, it is focused on social media platforms, such as Instagram
through which they advertise and promote their product.
Promotions, advertising, and selling efforts are also made in
collaboration with many famous internet influencers, such as
Claudia Sulewski.
Product Information
Direct Competitors:
Product Information
Shrimps
Products and Services:
Shrimps is a British fashion
brand that sells clothing, and
fashion accessories for women.
Specifically, they sell women’s
coats, dresses, knitwear, tops
and shirts, bottoms, bags, and
accessories.
As for services, Shrimps
provides the customer with a
“wishlist” option on their site,
which they can use to save any
items that they might want to
purchase later.
Pricing:
In regards to pricing, Shrimps
falls under the designer price
point category.
Their lowest priced item starts
at $74.00, and their highest
priced item is set at $1,500.00
Distribution Channels:
Shrimps has various ways of
distributing their product.
Due to their high social
media presence, the brand’s
most convenient and
relevant distribution channel
is through their online
website, as well as through
links on their instagram page.
Further, they are stocked in
various stores and many
continents, such as North
America and Europe. Not
only that, but they are also
stocked in some online
retailer’s websites, such as
Revolve and Stanley Korshak.
Direct Competitors:
Product Information
Lovers and Friends
Products and Services:
Lovers and Friends is an L.A.
originating brand that sells just
about everything, including
womenswear, accessories,
and bags.
In addition to that, Lovers and
Friends does price match their
competitors if the product is
the same style, color, and is
currently available for
purchase on the competitor’s
site.
Pricing:
In regards to pricing, Lovers
and Friends falls under the
contemporary price point
category.
Their lowest priced item starts
at $10.00, and their highest
priced item is set at $498.00.
Distribution Channels:
Lovers and Friends is a pure
play business, therefore they
mainly distribute their product
through their online site.
However, they are stocked in
some online retailer’s sites as
well, such as Revolve.
Indirect Competitors:
Product Information
ASOS
Products and Services:
Asos is a British online fashion
retailer that sells apparel for
both men and women. Along
with that, they also sell
accessories, bags, shoes, and
even cosmetics.
The brand offers an Asos
marketplace, where
customers can go to find
unique vintage pieces. Further,
they have a whole section on
their website dedicated to
providing inspiration for their
customers. Included in that
section are fashion tips from
insiders, style inspiration and
beauty advice, an Asos
magazine, and a section
named “Fashion Discovery,”
where customers can find
news on the latest drops. Not
only that, but they also provide
the option for customers to
pay in installments with Klarna.
Pricing:
As for pricing, Asos is harder to
define when it comes to a
price point category, given
that not only do they offer their
own line of products, but they
also carry several name
brands, such as Adidas.
However, Asos could most
likely be considered in the
budget or mass market price
point category in relation to
the product that they actually
produce.
Their lowest Asos design
priced item starts at $5.00, and
their highest priced item is set
at $310.00.
Distribution Channels:
Asos is a pure play fashion
retailer, therefore they only
distribute their products
through their online site.
Indirect Competitors:
Product Information
Nasty Gal
Products and Services:
Nasty Gal is an L.A. based
brand that sells apparel,
accessories, and shoes for
young women.
As for services, Nasty Gal
provides installment payment
options, such as Klarna and
Afterpay. Further, they also
accept Apple Pay, which is
more convenient for some
customers to use.
Pricing:
In regards to pricing, Nasty Gal
falls under the budget or mass
market price point category.
Their lowest priced item starts
at $3.60, and their highest
priced item is set at $192.00.
Although, their pricing is
always fluctuating as a result
of the varying sales they
implement daily.
Distribution Channels:
Nasty Gal is a pure play
business, therefore they
mainly distribute their product
through their online site. They
also have social media
platforms, such as Instagram,
Twitter, and Facebook, where
they link their online site for
customers to shop.
SWOT
SHRIMPS: SWOT
Opportunities:
-Make designs
more versatile in
order to appeal to
a
more diverse
audience
-Develop
products for
younger
consumers
Strengths:
-Leading the
conversation on
cruelty-free
fashion
-Have a
well-defined
target market;
caters to a very
specific customer
Weaknesses:
-Need to improve
site usability
-Have a very specific
customer, which
means that they
could be losing
potential sales from
lack of reach to a
more diverse
audience
Threats:
– Limited reach to
younger
consumers; losing
possible sales
there
-Designs are not
as versatile as
others’, such as
SA.
LOVERS AND FRIENDS: SWOT
Opportunities:
-Divert a bit from
the L.A. lifestyle
focus, and more
into the type of
product they are
selling in order to
appeal to a more
diverse audience
Strengths:
-Have a strong
cult-like following
with similar tastes
-Their brand
image is
consistent across
channels and
platforms
Weaknesses:
-Very L.A. lifestyle
focused
-Have a very
specific customer,
which indicates
potential loss of
sales as a result of
a lack of diversity
Threats:
– Brand overall
can be seen as
not inclusive to
other lifestyles
and tastes
-Do not reach
customers
beyond the L.A.
lifestyle
ASOS: SWOT
Opportunities:
-Curate and select
product for the
customers they
serve, and reduce
the amount of
product on the
site
Strengths:
-Diverse and
inclusive brand
-Cater to
consumers of
various
backgrounds and
styles, therefore
they have a good
reach to
consumers
Weaknesses:
-Online site
carries too many
products, which
can be
overwhelming to
the consumer
Threats:
-Brands with a
more specific
target market tend
to have more loyal
customers that
come back to
purchase
NASTY GAL: SWOT
Opportunities:
-Redesign the site
to make it more
appealing and
aesthetically
pleasing
– Promote, and
include posts or
style inspo from
social media users
on site
Strengths:
-Brand and
founder’s
backstory strongly
resonates with
young women,
which has aided in
creating its
current following
Weaknesses:
-There is always a
sale on their site,
which can create
the notion that the
product is not high
quality or is
outdated
Threats:
-Competition,
such as Asos,
has better site
design
-Social media
platforms are
not promoted on
site
References
Alcala, N. (2014, January 22). LA’s Lovers Friends Founder Talks Bloggers and Big Dreams. Retrieved from
https://la.racked.com/2014/1/22/7624053/lovers-friend-ata
British Womenswear: About Shrimps. (n.d.). Retrieved from https://shrimps.com/pages/about
Home. (n.d.). Retrieved from https://www.nastygal.com/page/about-us.html
How Shrimps Designer and Founder Hannah Weiland Pioneered the Faux-Fur Movement. (2018, November 9). Retrieved from
How Shrimps Designer and Founder Hannah Weiland Pioneered the Faux-Fur Movement
Latest Results. (n.d.). Retrieved from https://www.asosplc.com/investors/latest-results
(n.d.). Retrieved from https://www.loversandfriends.us/?navsrc=main
Shop Women’s Clothes: Latest Trends & Online Fashion. (n.d.). Retrieved from https://www.asos.com/us/women/
https://www.asosplc.com/~/media/Files/A/Asos-V2/reports-and-presentations/26-10-2018-ar-v2.PDF
https://la.racked.com/2014/1/22/7624053/lovers-friend-ata
https://shrimps.com/pages/about
https://www.nastygal.com/page/about-us.html
How Shrimps Designer and Founder Hannah Weiland Pioneered the Faux-Fur Movement
https://www.asosplc.com/investors/latest-results
https://www.loversandfriends.us/?navsrc=main
https://www.asos.com/us/women/
https://www.asosplc.com/~/media/Files/A/Asos-V2/reports-and-presentations/26-10-2018-ar-v2.PDF