Industry Analysis
There is no use denying the fact that along with societys development, the level of peoples demands for comfort and various goods, which help to create the atmosphere, has increased significantly. Nowadays, people want to live, not just in a safe and solid house. They want to make it comfortable and beautiful. That is why they buy goods that could help to create the needed atmosphere and make any dwelling look unique. It is no wonder that the appearance of the demand for some goods resulted in the creation of the industry, which could satisfy this very demand (Nguyen, n.d.). With this in mind, it is possible to say that the TJX companies Inc. is one organization of this sort.
Moreover, it is the brightest representative of the given industry. That is why its functioning could be analyzed to determine the most important peculiarities of the given sphere and make certain conclusions. Thus, speaking about the given industry, it is possible to say that it develops along with society and tries to satisfy peoples requirements. Being American apparel and home goods company, TJX has to organize its function in the way which satisfies its clients (Our Company, n.d.). That is why the first and the most important peculiarity of the given industry is the adherence to the trends which are popular within society. The whole sector is oriented on creating goods, which could be used by people who want to decorate their house or use them for a certain purpose. That is why many companies that work in the given sphere influence the industry, changing it and adding some unique features. Thus, it should also be said that one can predict the further development of the given sphere. The fact is that the level of well-being increases, and people become able to spend more money on various goods. That is why many good perspectives are awaiting this industry.
Competitive analysis
Nevertheless, resting on the great importance and popularity of the given sector, it is possible to state the severe rivalry between various companies that work in the industry. Trying to survive and become beneficial, they look for new markets and customers, creating various strategies to attract them. TJX is the leading company in the USA, which provides a wide range of services. However, there are still many rivals that try to win the market and exceed TJXs showings. It is possible to outline three main competitors, which also work in the given sphere. They are Target Corporation, Kohls Corporation, and Ross stores Inc (The TJX Companies Inc Competition, n.d.).
Being great companies with a high level of income, these companies make TJX use various competitive strategies to survive and remain in the top positions. However, it is possible to say that customers take TJX as the leading brand, which suggests outstanding services and provides goods characterized by high quality. It is one of the main features which differs TJX from its competitors. The fact is that it managed to create a positive image and organize its functioning in the way which could promote its further improvement. Another important fact is that TJX works not only with apparel or home goods, but there are some other services provided by the company (Our Company, n.d.). With this in mind, the combination of these peculiarities makes TJX one of the most popular companies.
References
Nguyen, V. (n.d.). Analysis of the Luxury Goods & Apparel and Footwear Industries. Web.
Our Company. (n.d.). Web.
The TJX Companies Inc Competition. (n.d.). Web.