TJ Maxx SWOT Analysis Analyzes, TJ Maxx is an American department store chain, selling at prices generally lower than other major similar stores. It has more than 1,000 stores in the United States, making it one of the largest clothing retailers in the country. TJ Maxx is the flagship chain of the TJX Companies.
Did You Know?
According to a company spokesperson, there are 1,222 T.J. Maxx stores in the United States as of March 4, 2018.
Over the years, TJ Maxx has become one of the most prolific types of discount department stores in the entire country. That being said, most people don’t really know that much about the company, except for the fact that a lot of them like to shop there.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by TJ Maxx.
TJ Maxx At A Glance – TJ Maxx SWOT Analysis
Company: The TJX Companies, Inc.
Founders: Bernard Cammarata
Year of establishment: 1976, Framingham, Massachusetts, United States
CEO: Carol Meyrowitz
Headquarters: Framingham, Massachusetts, United States
Employees (Dec 2020): 320,000
Ticker Symbol: TJX
Annual Revenue (Dec 2020): US$41.717 Billion
Profit net income (Dec 2020): US$6.06 Billion
Products & Services: Clothing | Footwear | Bedding and domestics | Toys and giftware
Company Website: www.tjx.com
Top TJ Maxx Competitors
Competitors: Home Goods | GAP | Ross Capital | Marshalls | Macy’s | Saks Fifth Avenue | Target | Beyond and Ascena Retail Group
TJ Maxx SWOT Analysis – SWOT Analysis Of TJ Maxx
SWOT Analysis Of TJ Maxx analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With TJ Maxx SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about TJ Maxx SWOT Analysis. Below Is The Detailed SWOT Analysis Of TJ Maxx.
TJ Maxx Strengths – TJ Maxx SWOT Analysis
- A chain with more than 1000 stores in more than 5 different countries.
- The price levels in the stores is comparatively on the lower side.
- The stores had growing sales which is a good sign.
- The online store has been expanding over the years.
- The store has excellent presence and strong focus on customer service.
TJ Maxx Weaknesses – TJ Maxx SWOT Analysis
- The customer service is not seen as the best in these stores.
- People find it contradictory that designer clothes are sold in bulk.
- Many of these department stores have a very few categories.
- Not enough global presence as compared to competitors. TJX is present in only seven countries which is not enough to reach the entire globe. The company should use its brand name and image to market outside and penetrate more countries.
- The company had a security breach issue into their network system. This occurrence still has negative effects on the brand name.
TJ Maxx Opportunities – TJ Maxx SWOT Analysis
- They have an opportunity to increase their international market share
- They have many in store merchandising activities planned to attract new customers
- They are trying to expand the number of stores across various countries
- With already an excellent portfolio the company has a chance to increase the number of products it offers. The customers trust the brand and will happily buy the new products.
- Increase in the demand for home based products in the US.
- More profit by expanding the business.
- Chance to explore the foreign market and penetrate into it using Brand Marketing.
- Acquiring smaller chains of stores in the US and other countries.
- Customer oriented services.
TJ Maxx Threats – TJ Maxx SWOT Analysis
- Strict government policies for import and export.
- High rise in fuel costs which increases transportation expenses.
- Inventory issues.
- Everyday there is a new entrant in the market because the barriers to entry are low.
- The company faces tough competition with already existing brands such as Kohl’s, Burlington and Macy’s.
TJ Maxx SWOT Analysis Template
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