OMG SWOT synopsis

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OMGSWOT synopsis

InternalAnalysis

Strengths

Beingsituated in New York gives OMG access to a significant market sharesince the city is one of the busiest tourist destination.Having a website provides an opportunity for people to check onavailable products before visiting the shop. OMG has excellent aftersale service to seek whether their customers are satisfied with theirproducts a brilliant move to win customer loyalty. The issue of alanguage barrier for the customers by hiring workers from differentspheres of life who can communicate with any client. Being one of theoldest franchise dealing with clothing, OMG has built a reputationhence enjoys massive customers courtesy of its goodwill.

Weaknesses

Manypeople especially the young people are currently doing onlineshopping. This has been a huge blow to physical shops like OMG sincehardly do people buy there. Failure to manage to have enough stockfor all customers at all times is a huge problem. The company has asmall storage room in comparison to the daily demand for theirproducts.

ExternalAnalysis

Opportunities

OMGcan expand its market since it has already built a name for itself.By taking advantage of the low advertising rates, they can pay formore ads in the internet and other social media platforms. The bestway to penetrate other markets easily is by partnering with otherbusinesses in those geographical areas.

Threats

Establishmentof online shopping has been a big blow to businesses with physicalshops. People currently buy at the comfort of their homes and havethe products delivered. This has reduced the number of customersbuying from OMG hence reducing their profits. Frequent fluctuation ofthe foreign exchange rates reduces the purchasing power of tourists.Some people may be willing to buy, but their budget does not allow.

Conclusion

OMGcan open an online shopping platform and closed down some of theirphysical shops. This move will reduce their expenses and enable themto expand their market segments. Since OMG is one of the leadingfranchise, it can diversify their products to take advantage of theirgoodwill.