3: Situational Analysis
SWOT Analysis
Strengths Weaknesses
Master upholsterer Location is not retail friendly
Largest in-stock fabric selection Long lead times during part of the year
Exclusive Hunter Douglas® Showroom Limited online presence
Lifetime Craftsmanship guarantee Dated Website
Opportunities Threats
Vail Valley Partnership’s strong support for local businesses Luxury items depend on economy
Designer partnerships Foam prices fluctuate with gas prices (petroleum product)
The Internet as a marketing tool Fabric, draperies, blinds available online
Economy Improving Upholstery, sewing provided by several businesses in or serving Vail.
The first and most important strength for Vail Trappings is they employ the only …show more content…
“The high-end furniture consumer is alive and well and ready to buy again after several years away from the market” (Hodnett, 2014). The National American Industry Classification Codes (NAICS) for Vail Trappings: 811420 (re upholstery), 314120 (draperies), 451130 (fabric) and 442291 (window treatments) according to NAICS.com (n.d.). The following statistics from the BARNES reports (2014) show a promising growth trend: Forecasts indicated improvement in the U.S. Retail Industry in 2014 and 2015. This overall economic improvement added disposable income to citizens ' pockets, increased consumer confidence and added demand, which impacted the retail, wholesale and manufacturing industries. (BARNES Reports, 2013).
Environment
The Vail Valley Partnership (VVP), a combined Chamber of Commerce for Vail, Avon, Edwards, Eagle and Gypsum, provides two indications of local economic improvement: low unemployment and increasing sales tax collections: (vailvalleypartnership.com, 2015)
• In July 2015, Eagle County 's unemployment rate decreased to …show more content…
Competitor Analysis
Vail Trappings has three main competitors: Regal Drapes for custom draperies, Home Depot for blinds and The Linen Kist for custom upholstery and draperies. Each company’s market positioning, strengths and weaknesses are detailed below. No specific market share information exists.
Regal Drapes provides custom draperies through an online store and positions the brand as the lowest cost, with the fastest shipping, and a 100% satisfaction guarantee. Their strengths include a dominant online presence, lowest price and 100% satisfaction guarantees, professional design consultants, a fast turnaround time, and free shipping in the U.S. (Regaldrapes.com) Their weaknesses: they cannot provide in-house consultations or installation, and they do not have a locally owned, brick and mortar store. They also do not offer custom upholstery or blinds. In contrast, Vail Trappings caters to a high-end clientele less concerned with price, so marketing should focus on the company’s commitment to customer satisfaction, and the fabric store with the largest inventory in the Vail Valley, plus local
SWOT Analysis
Strengths Weaknesses
Master upholsterer Location is not retail friendly
Largest in-stock fabric selection Long lead times during part of the year
Exclusive Hunter Douglas® Showroom Limited online presence
Lifetime Craftsmanship guarantee Dated Website
Opportunities Threats
Vail Valley Partnership’s strong support for local businesses Luxury items depend on economy
Designer partnerships Foam prices fluctuate with gas prices (petroleum product)
The Internet as a marketing tool Fabric, draperies, blinds available online
Economy Improving Upholstery, sewing provided by several businesses in or serving Vail.
The first and most important strength for Vail Trappings is they employ the only …show more content…
“The high-end furniture consumer is alive and well and ready to buy again after several years away from the market” (Hodnett, 2014). The National American Industry Classification Codes (NAICS) for Vail Trappings: 811420 (re upholstery), 314120 (draperies), 451130 (fabric) and 442291 (window treatments) according to NAICS.com (n.d.). The following statistics from the BARNES reports (2014) show a promising growth trend: Forecasts indicated improvement in the U.S. Retail Industry in 2014 and 2015. This overall economic improvement added disposable income to citizens ' pockets, increased consumer confidence and added demand, which impacted the retail, wholesale and manufacturing industries. (BARNES Reports, 2013).
Environment
The Vail Valley Partnership (VVP), a combined Chamber of Commerce for Vail, Avon, Edwards, Eagle and Gypsum, provides two indications of local economic improvement: low unemployment and increasing sales tax collections: (vailvalleypartnership.com, 2015)
• In July 2015, Eagle County 's unemployment rate decreased to …show more content…
Competitor Analysis
Vail Trappings has three main competitors: Regal Drapes for custom draperies, Home Depot for blinds and The Linen Kist for custom upholstery and draperies. Each company’s market positioning, strengths and weaknesses are detailed below. No specific market share information exists.
Regal Drapes provides custom draperies through an online store and positions the brand as the lowest cost, with the fastest shipping, and a 100% satisfaction guarantee. Their strengths include a dominant online presence, lowest price and 100% satisfaction guarantees, professional design consultants, a fast turnaround time, and free shipping in the U.S. (Regaldrapes.com) Their weaknesses: they cannot provide in-house consultations or installation, and they do not have a locally owned, brick and mortar store. They also do not offer custom upholstery or blinds. In contrast, Vail Trappings caters to a high-end clientele less concerned with price, so marketing should focus on the company’s commitment to customer satisfaction, and the fabric store with the largest inventory in the Vail Valley, plus local