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Tiffany Swot Analysis Essay

790 Words4 Pages

• SWOT Analysis - External Focus Opportunites - Increase online sale, Customized Jewelry Line With an estimated e-commerce growth of 25% per year, going online is becoming essential for a company. Consumers ' traditional perception of buying products/services changed. They are now looking for convenience and they want to be able to compare product easily. Tiffany, through its well-developped website www.tiffany.com, took advantage of this opportunity to offer a large selection of products. In order to appeal to more costumers and increase its sale while cutting down its operation costs, the retailer should allow its online customers to customize their jewelry and widen the variety of product portfolio - Men 's collection Nowadays, men are willing to spend money to take care of their appearance. The trend for men jewelry and fragrance is constantly growing. According to sources from news centurion jewelry, men are more likely to buy jewelry than women. To capture this trend Tiffany should widen its men 's collection products by offering more fragrance, new designs for the men jewels , and focus evenly on women and men. Therefore women would be encouraged to buy jewelry for men. With recent developments in the gay rights movements and The Supremecourt declaring legalization of gay marriage (in US), there lies …show more content…

Moreover, their products are four times cheaper than their competitors, they can cut the operating costs as they don 't have any physical stores and the company based its strategy on the "just in time",no inventory, they buy the product only once the customeroredred it. And finally this business model is really successful for the services it

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