Swot Analysis Of Myer

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1. A commentary on the market structure in department store retail and Myer’s position in the market, along with the product attributes offered from the Myer retail experience and a brief summary of the recent history of Myer 1.1 Market Structure in department store retail can be looked at several points. Firstly is the definition of department store itself, in general department store is purchase products from wholesalers and manufacturers and sell them to consumers, generally without changing the products, More over they also offering customer service, product merchandising, advertising, inventory control and cash handling. Nature of department store can be sees as Oligopoly which only several major firms that dominated this industry. With…show more content…
It still ranks firms by market share but includes all firms in the industry of significance. By squaring the respective market shares, the index gives additional emphasis to large firms. (b) Interpret these two figures. What do they tell you about this market? Answer: Both indices indicate that the market is concentrated and firms are likely to have market power. In other words firms in this market are not operating under perfectly competitive conditions. The Herfindahl index suggests that the market is close to the lower level of oligopoly…show more content…
These fall of revenue are mostly due to difficulty trading conditions resulting from increased costs and volatile consumer sentiment brought on by economic uncertainty. Even though the overall revenue did fell, but the percentage (%) decrease of revenue did getting better towards these five years periods. The percentage (%) decrease in 2010 – 2011 was -4.8% but it had improved and reach to -1.3 % in 2011-2012. The improvement continue to the following year and turn to positive change in 2012-2013 by 0.6%, but Myer faced a zero growth of sales in 2013-2014. These improvements are result from changing strategy plan by Myer. They trying to improve their online retailing, and aimed to become a multichannel retailer, focusing on streamlining its online presence to complement its traditional store network. Moreover, Myer also developed their supply chain to be more effective. One of the example is by establish sourcing offices in Hong Kong, with an intention to lower their purchasing cost. Also the company starting to bring in new brands that demanded by customers, such as Topshop, Topman, Toms, Nike, Seed, Nine West, Calvin Klein. These change of strategy by Myer also can be seen from their spending on the products they going to sell. For comparison in past 5 years the company spend 46% on mainstream and community and 54%
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