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Kohl's Essay

2305 Words10 Pages

Firm Description and Strategic Challenge Kohl’s Corporation is a United States omnichannel retailer. They compete within the retail industry and are known for their wide range of products. These products include private and national brands that range from apparel to home products. It operates more than 1,100 stores across 49 states and has a strong online presence through its website and mobile app (Kohl’s, n.d.). Kohl’s has changed its business strategy from the traditional department store to focus on lifestyle. This strategy has allowed Kohl’s to focus specifically on the active and casual lifestyle segment. Within the retail industry, Kohl’s holds a differentiated position due to its off-mall store base, robust digital business, and unique partnerships with brands like Sephora and Amazon (Kohl’s, n.d.). The increase in recent partnerships has improved growth, allowing Kohl’s to emphasize a data-centric approach which will enhance customer relevance. Kohl’s critical strategic challenge lies in adapting to the retail …show more content…

Competition within the Retail Industry: Due to the highly competitive nature of the retail industry, it is important to review competitors’ dynamics within the industry regularly. The intense competition for customers and associates is important for Kohl’s to keep pricing low, quality and stakeholder satisfaction high. Any unforeseen changes within the competition by means of decreasing prices or creating a more favorable work environment could lead to a loss of stakeholders. Supply Chain: With the intense competition, high demands for similar inventory express concern. It is important for the company to continue partnerships with suppliers to create sustainability with inventory. The power of suppliers is relatively low, as Kohl’s can source from a variety of suppliers globally. However, exclusive brand partnerships, like Sephora, may increase certain suppliers’ bargaining power (DCF,

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