SWOT analisys of TKMaxx UK
The company forms a part of TJK companies which operates many chains in the United States. T. K Maxx is a large fashion retailer and operates in different parts of the world through globalization and the need to exploit the market available in other countries. The company was opened in 1994 and by 2009, it had 247 stores in Europe and 212 stores in the United Kingdom. The company also had other branches in Germany Ireland and Poland. • Currently, most of the products have reduced prices when compared to the past. This has encouraged more purchases. • The UK market for retail provides an advantage because of a strong tradition and attachment to fashion and designs and this has benefited the company in increasing its sales (David, 2013 pg.
Weaknesses • One of the weaknesses of the fashion and design industry is the fact that sales are seasonal. For example, most of the expensive clothes such as coats and party wear are only required during a given season in the year (GRÜNIG & MORSCHETT, 2012 pg. • The UK residents have continued to reduce their expenses on clothing while compared to the Europeans. This implies that the company has an opportunity to expand its operations to Europe where there is potential growth in the market. Expansion to other parts of the world will also enable the company to survive the harsh economic conditions by broadening its customer base. • Since most men spend less on clothes, the company should look for a strategy through which it will encourage men to increase their expenses on clothes (Wang, 2015 pg.
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