Advantageļ¼
- A perfect combination of sports and fashion casual design concepts, to achieve unique brand characteristics
- Unique technology and invention in fabrics.
- Adopting advanced marketing strategies to promote its products and services.
- The company has built strong relationships with consumers and local communities.
Weaknesses
- Products are more expensive compared to its competitors.
- Does not have its own product supply chain and relies heavily on suppliers.
- Products are often out of stock, (online and in stores), and immediate new arrivals are very limited.
- Consumer dissatisfaction on poor purchasing experience, declining product quality
Opportunities
- Further development of the men’s sportswear market.
- Tap into new customer segments, such as the Asian market, which has increasing purchasing power and a growing demand for a higher quality of life.
- Expand its product portfolio beyond athletic apparel, such as footwear and accessories.
- Enhancing the company’s e-commerce platform and increasing its digital presence, such as personalizing the online shopping experience.
- Explore alliances and partnerships with other brands, athletes, and influencers.
Threats
- With not only several recognizable sports brands in existence but also fast fashion retailers entering the athleisure space.
- An unfavorable economic condition or recession can harm consumer spending such as the pandemic.
- Threats exist if Lululemon is unable to anticipate and adapt to fashion trends and new consumer preferences promptly.
- Due to the popularity of Lululemon’s products and their high price compared to similar brands, there are many counterfeit products in the marketplace.
- As Lululemon expands its e-commerce platform and collects more customer data, the company faces an increased risk of data breaches.