Strictly Denims strengths include its uniqueness. There are not currently popular in trend brands covering such a wide variety of items specialising in denim material only. This is a strength because if successful, we have the opportunity to everyone favourite denim brand meaning a higher chance of having loyal customers. Conjointly our brand is international meaning it's open to a wider audience which equals a higher amount of exposure. In addition, Strictly Denim have many social media platforms with a wide range of strong marketing strategies. Which not only means we are well suited to our target audience but we are easily assessable giving us that extra acknowledgement we need to be a successful e-commerce brand. On top of that denim is an extremely trendy and comfortable material which is almost guaranteed to never go out of style meaning a higher chance of Strictly Denim staying in trend over other e-commerce brands.
Strictly Denims weaknesses include not having a strong following as of yet. We are a new brand so it's going to take a while to pick up the traffic at first, meaning slow sales, to begin with. In addition brands like Levi's and Diesel are also very much known for their denim. As these brands are world-renowned legacies it will be harder for Strictly Denim to initially grab the attention of denim lovers as there's a chance our audience prefer our competitors instead and will not be willing to buy denim from elsewhere. Another potential weakness could be if all else fails a denim does become completely out of trend. Strictly Denim will have no choice but to shut down as that is all we specialise in. Lastly, we are an e-commerce brand meaning any of our customers who do not like shopping online will have no other way of accessing our clothing.
Strictly Denim's opportunities include future collaborations with bloggers. Which gives us the opportunity to be known to more people as well as increase our following. Another opportunity includes being able to open up a few stores in the future. This gives us the opportunity to give our customers a more personal customer service experience creating stronger relationships, loyal customers and also a new way of marketing as we would be able to really focus on how our packaging and pos would look like. In addition, we have could have the opportunity of creating a platform for women to network under our hashtag (#strictlyboss). Which could potentially inspire many females around the world giving our brand the opportunity to build an empire. Lastly, future technologies can give Strictly Denim the opportunity to use strictly sustainable denim for our items which could open us up to a new audience.
Strictly Denims main threat would be big retailers like Levi's and Diesel who are known for their denim range due to years of consistent brand building. People may want to stick to who they already shop with. Which is a threat to us as it will be harder to raise our sales. Another threat would be other retailers and celebrities catching on to the denim trend trying to create similar concepts to Strictly Denim. This is a threat because these brands and celebs have more followers and are more likely to be well known which could drive our sales away from Strictly Denim. Lastly, a threat could be the fact that Strictly Denim does not currently have a brand rapport so people who wish to look up reviews about us before purchasing won't find anything about us which could turn new customers away.
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STRENGTHS
WEAKNESSES
THREATS
OPPORTUNITIES