A Swot Analysis Of Lululemon
1). A vision to prioritize guests: This leads to increased brand awareness and customer loyalty.
2). Marketed as a lifestyle brand that enables the business to price its products “at a premium”: Lululemon promotes an active, healthy lifestyle and their products as a step towards achieving that lifestyle.
3). Premium brand association: According to eMarketer Retailer, Lululemon is ranked #1 by sales per square foot (“Top 8 Sporting Goods Retailers Ranked by Sales per Square Foot,” 2017), ahead of Under Armour and Nike.
4). Decentralized structure (Showkeir, 2013):
Lululemon’s decentralized structure prevents corporate micromanagement of individual stores and ensures effective control through more focused performance measures.
5). Adopting positive
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E-Commerce: Online sales play a large role in Lululemon’s, and it is continuing towards an upward trend (Keyes, 2017)
3). Fast growing male sector: Despite only accounting for a small percentage of its total sales, its male apparel has seen strong growth and potential. Its management hopes that men’s sales will reach one billion or 25% of total revenues by 2020 (Bhattacharjee, 2017).
4). Community Events: Events such as the renowned Seawheeze marathon, helps the brand spread its “lifestyle” image and retain consumer loyalty. Its concentrated effort on nurturing a “Lulu” community gives the brand an edge over its competitors (Seawheeze,2015) and can further strengthen customer outreach.
5). Attracting Canadian consumers by outsourcing locally: By opening more factories in Canada, Lululemon can be viewed more as a “Canadian company.” This could not only appeal to Canadians’ sense of pride but could also mitigate the risk of a manufacturer in another country defaulting on the order
6). New Technology: Incorporating technology into their business operations such as new technology system (RFID) that boosts their operation efficiency (Swelberg, 2016).
Threats (External)
1). Competition: Nike has decided to increase its investment into the women’s athletic apparel
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