Ross Stores SWOT & PESTLE Analysis

Strength

1. Largest off-price apparel and home fashion chain in the United States: Ross is the largest off-price apparel and home fashion chain in the United States operating in 1546 locations in 39 states. It has great offerings which include first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions. Its offerings are for the entire family which would save around 20 to 60% from its off department and specialty store regular prices every day and 20% to 70% below moderate department and discount store regular prices at dd’s DISCOUNTS. Through the dd’s DISCOUNTS stores, it operates in 19 states with around 259 stores which feature more moderately-priced high-quality offerings. Both Ross and dd’s DISCOUNTS target value-conscious people and hence the decisions of these stores are based on the customer profiles. The stores have showed consistent growth in sales and EBIT over years. Owing to the wide variety of styles and fashion available in the stores, it attracts a huge customer base. Also, the significant discounts available provide great savings to these customers and help retaining them.

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Weakness

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Opportunity

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Threats

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Political

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Economic

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Social

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Technological

1. Using technology to track inventory: Retail is a highly competitive industry and for Ross Stores to remain profitable in this industry, it has to adopt and evolve the modern technology trends which shape the retail industry. Technology helps in better planning and decision making at the ground level which will benefit Ross Stores in the long run. For inventory tracking, many new technology trends have been shaping the modern retail. Some of these include Electronic Data Interchange (EDI) which helps in direct computer-to-computer transactions from the store to the vendors' databases and ordering systems. Other prominent technological advancements include wireless hand-held inventory units, Universal Product Code, automatic replenishment and virtual shelves. Being a prominent player in the retail industry, Ross Stores needs to be vigilant about such technological trends that affect the retail industry and evolve likewise.

2. Use of AI and data driven customer targeting: Online shopping has influenced and outreached almost every product category providing the customers with the ease and convenience of shopping along with personalized experience. With rapid internet proliferation, online shopping has become a compelling and complete rout of retail. Ross Stores need to tap this opportunity at the earliest so as to gain maximum profit and do not lose the segment. With the use of online advancements and technology it can reach a much greater customer base and enhance its sales. Using virtual shopping assistants, in-store stylist robots, AI-powered recommendation engines, bot-managed billing counters, etc. Ross stores can redefine the shopping experience for the customers. It can also use data analytics and data intelligence for customer identification and contextualization which will help in delivering a highly personalized experience to the customers.

Legal

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Environmental

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