SWOT analysis is an effective strategic planning tool that helps identify and analyze your company’s strengths, weaknesses, opportunities, and threats.
Strengths Home depot is the largest home retailer in its industry. The company has net sales of $68 billion and operates 2248 stores across the world.
Home depot has a very strong brand name being seen on all advertisements which attracts many consumers.
Their products and services stand out better than other companies. Home depot offers services for installations at reasonable prices than other home retailers.
Location is a major reason in having a successful business and Home depot has many locations in areas where home improvement is most needed.
Weaknesses Home depot is in a mature domestic market where in 2011 where they opened a store but later was relocated and their competitor Lowes operates as well.
Home depot is involved in three class action suits which can hurt the company’s reputation.
Opportunities Home improvement is increasing and that gives Home depot to maximize their profits. A rise in immigrants gives the community a raise in home improvement people want to have that freedom to come and build their own homes they look to Home Depot.
Our environment is becoming more ecofriendly therefore Home Depot offers products that fit the consumer’s needs.
Threats if the housing market does not increase Home depot can lose business. As well as new competitors coming into the market and regulations.
English: Logo for The Home Depot. Category:Brands of the World (Photo credit: Wikipedia)
A better look at Home Depot Inc. 