Are you curious about how PrettyLittleThing, one of the world’s leading fast fashion brands, operates? If so, then this blog post is for you! We’ll be taking a look at pretty little thing swot analysis to give you an insight into their internal and external strategic factors. Read on to find out more!
An Overview of Pretty Little Thing
Pretty Little Thing is an online fashion retailer that focuses on creating affordable yet stylish looks for young women aged 18-28.
The company was founded in 2012 and has since become one of the most popular e-tailers, competing with other popular sites such as Missguided, Boohoo.com and ASOS. With a focus on delivering the latest trends at unbeatable prices, PLT offers a wide range of clothing, accessories, shoes and beauty products to keep their customers looking chic without breaking the bank.
The company also takes pride in its use of celebrity endorsement, competitive pricing strategies and various influencer campaigns to drive customer loyalty. PrettyLittleThing has also seen great success in its digital marketing strategies including its use of influencers and creative campaigns to build brand awareness among its target audience.
Report of Internal & External Factors in Swot Analysis of Pretty Little Thing
Strengths of Pretty Little Thing: Internal Strategic Factors
Pretty Little Thing has several strengths which help it remain competitive in the online fashion retail market.
Digital Marketing Strategy
One of the biggest strengths of Pretty Little Thing is its digital marketing strategy. The company uses a variety of digital channels to reach its target audience, including social media platforms and search engine advertising. This allows them to quickly reach potential customers, increase brand visibility and drive sales. They also have a strong website ranking, which helps them attract more customers to their site.
Wide Range of Products: Internal Strategic Factors
Another strength of PLT is its wide range of products that caters to all budgets and styles. They offer everything from dresses and tops to accessories such as bags, hats, and jewelry. This allows customers to easily find something they love within their budget a feature that is especially important when shopping online.
Youthful Management Team
PLT prides itself on having a youthful management team that understands the needs of their target audience young women aged 18-28 who are looking for fashionable yet affordable clothing options. This understanding helps the company create products that appeal to this demographic’s taste in fashion while still remaining competitively priced against other retailers like Missguided, Boohoo and ASOS.
Quality products at affordable prices
Pretty Little Thing offers a wide range of clothing, shoes, and accessories that are stylish and trendy while still being affordable. They have become popular among fashion-conscious shoppers who want to stay on top of the latest trends without breaking the bank.
High Quality Fashion Trends
Pretty Little Thing offers high quality fashion trends from a variety of designers and brands. They offer clothing for both men and women, and their pieces are often on trend yet timelessly stylish. Plus, their prices are affordable, making them accessible to everyone.
Weaknesses of Pretty Little Thing: External Strategic Factors
Pretty Little Thing is a leading online fashion retailer catering to young women. Despite its success, the company does have some weaknesses in Pretty Little Thing SWOT analysis that could impede its growth and performance.
Decrease in Global Ranking
Website ranking can be used to evaluate the value of a business and over the last three months PLT’s global ranking has decreased from 6,062 to 7,342 which can put them at a disadvantage when compared with their competitors.
Not Enough Physical Stores
Finally, PLT has not been able to expand into physical stores yet due to cost constraints and therefore lacks presence in brick-and-mortar locations which limits their reach and potential customer base.
Poor customer service
Pretty Little Thing, a popular online clothing retailer, has been criticized for its poor customer service. Reviews from customers have cited slow delivery, lack of response from customer service representatives and issues with sizes being incorrect.
Opportunities for Pretty Little Thing
Pretty Little Thing offers a variety of opportunities for growth and expansion. As a young, rapidly growing business, they have the advantage of being able to quickly adapt to changing markets and trends. This allows them to stay ahead of their competition and remain profitable.
Expanding Their Network
One major opportunity for Pretty Little Thing is to expand their presence in international markets. As they continue to grow, they can take advantage of new markets by offering localized versions of their website, tailored products, and marketing campaigns that target different cultures. Additionally, they can look into ways in which they can make use of global supply chain networks to reduce costs and increase efficiency.
Using Digital Marketing Platforms
Another opportunity for Pretty Little Thing is utilizing digital marketing platforms such as Instagram, Twitter and Facebook to reach new customers. By creating engaging content and running targeted ad campaigns on these platforms, they can draw in more visitors and convert them into paying customers. They can also use digital marketing platforms to showcase their clothing items through influencer partnerships or sponsored posts from well-known accounts.
Partner with Smaller Boutiques
Pretty Little Thing has the opportunity to build relationships with smaller boutiques who may be interested in selling their clothing items on fashion-based platforms like theirs. This could be beneficial for both parties as it would allow PLT access to new customers while providing the boutique with an additional source of income.
Threats to Pretty Little Thing: External Strategic Factors
Pretty Little Thing (PLT) is facing a number of threats in the current market. The competition from rival e-tailers, such as Boohoo and ASOS, has become increasingly fierce.
PLT’s target audience of young female women aged between 18 and 28 is becoming difficult to capture as they begin to shop at multiple stores.
Their social media marketing efforts are not always successful due to the ever-changing nature of the industry.
PLT’s financial position can be considered shaky due to its recent history of losses. All these threats have the potential to harm PLT’s profitability and brand image if not addressed properly.
The Rise of Fast Fashion
PLT has become a popular online retailer with its low-cost and trend-driven clothing lines, but it is also facing increased competition from other fast fashion brands such as H&M, Zara, and ASOS. As these companies expand their offerings and make their prices even more competitive, PLT could struggle to keep up.
Online Competition (Threatening Profits)
PLT is facing a lot of competition in the online fashion industry, with many other retailers offering similar products at lower prices. As the market becomes more saturated, the company will need to find ways to differentiate itself in order to remain profitable.
Loss of customers due to the pandemic
Pretty Little Thing store has faced huge losses due to the pandemic as customers have been reluctant to shop in-store and online. The store has had to close some stores and reduce their workforce in order to stay afloat. To remain competitive, PLT needs to come up with strategies that will attract more customers and encourage them to shop again.
Summary of pretty little thing swot
- We hope you enjoyed our article on pretty little thing swot analysis. Its strengths include established relationships with influencers, and the ability to provide customers with quick deliveries.
- Their weaknesses include a negative image among clients and potential clients. The opportunities for PLT come from the growth of social media platforms as well as the trend of e-commerce in the fashion industry.
- Threats that could affect PLT’s success include competition from other online retailers as well as shifts in consumer tastes. By taking all of these factors into account, PLT will be able to strategically position itself in the market and continue its success into the future.
Abedex studied strategic management in college, and he continued to be interested in the subject long after he graduated.
He has done a lot of research on the topic and has been using his knowledge of strategic management and swot analysis to analyse businesses for the last 8 years. And he is here to share you more info about data analysis.