To do so, Kenned Consulting will be doing a detailed Industry analysis that includes Dollar General’s competitors, customers, merchandise and location. Ken Consulting will follow this by doing an In-depth company analysis, which involves understanding Dollar General’s business strategies. Finally, a detailed recommendation and implementation plan will be Included to support and guide Dollar General towards getting a sustainable competitive advantage. The major Issue with your company Is sustainability and lack of Investment In technology to grow and move your company forward. Industry Analysis
To understand a company, it is very important to identify who its competitors are, its target consumers, the type of products sold, and the location of the company. All of these make up important aspects of a company industry analysis. Who are the competitors? The discount retail industry consists of several different stores, which could be further broken down into many different segments. Dollar General falls under the category known as the dollar store and is the current market segment leader above its close competitors In the same dollar store category, such as dollar Tree, Family
Dollar and Fried’s. The dollar store industry houses four distinct types of retailers. First, the Orlando dollar store, stuck to the tradition of Its predecessors, the five-and- dime stores. They were single price-point stores that adhered to the Idea of selling every single item in the store for SSL or less. Secondly, the close out retailers sold overstock, discontinued, surplus and distressed merchandise. The price of products in this subcategory were mostly available for $1 dollar, but had inconsistencies in quality.
There is also the limited assortment grocery retailer; these are small stores tit private labels food products with small number of units available at low prices. The extreme value retailers is the forth of this subcategory, which offered everyday low prices in a small box format. They had a more focused assortment of goods compared to mass retailers like Wall-Mart and superstructure who competed on the basis of large assortment and price, while small box extreme value retailers, such as your company competed on convenience and price.