Victoria

Environmental
Analysis
Presented to:
Simon Cope
By
Isabel Cuartas
11117182
Kate Doyle
Catherine Howell
08226490
Devon Ingle
Jessica Woods
VICTORIA’S SECRET

Table of Contents
TABLE OF CONTENTS...................................................................................................II
LIST OF GRAPHS...........................................................................................................III
LIST OF TABLES............................................................................................................IV
1. INTRODUCTION....................................................................................................1
2. Socioculturalforces..........................................................................................................2
3. Demographics .................................................................................................................3
3.1. Population for the North Shore ......................................................................................3
3.2. Income .............................................................................................................................4
3.3. Education..........................................................................................................................4
3.4. Ethnicity...........................................................................................................................4
4. Economic..........................................................................................................................4
4.1. Exchange Rates ..............................................................................................................4
4.2. Inflation..............................................................................................................................4
4.3. Economic Growth and Interest Rates .......................................................................... 4
5. Technology........................................................................................................................7
5.1. Transport Logistics......................................................................................................... 7
5.2. Victoria’s Secret Direct.................................................,,................................................ 7
5.3. Victoria’s Secret Inventory Management...................................................................... 7
5.4. Telecommunication ........................................................................................................7
6. Political and Legal Environment.................................................................................... 8
6.1. Employment Regulations............................................................................................... 8
6.2. Legal Regulations ...........................................................................................................8
7. Market and Industry .......................................................................................................9
7.1. Bargaining Power of Suppliers ....................................................................................10
7.2. Bargaining Power of Customers .................................................................................10
7.3. Threat of New Entrants ................................................................................................10
7.4. Threat of Substitutes ....................................................................................................10
7.5. Industry Competition ....................................................................................................11
8. CONCLUSION.............................................................................................................. 12
9. REFERENCES.....................................................................................................13
10. APENDICES........................................................................................................16
APPENDIX 1: ALBANY MEGA CENTRE RETAIL MIX.................................................16
APPENDIX 2: SWOT ANALYSIS...................................................................................17
II

List of Graphs
Graph 1. Age Distribution of Females Living in the North Shore........................................... 3
Graph 2. Income for People Aged 15 Years and Over............................................................4
Graph 3. Economic Growth North Shore ................................................................................5
Graph 4. Retails Sales in New Zealand ...................................................................................5
III

List of Tables
Table 1: Clothing Retail Sales in New Zealand ...........................................................................6
Table 2: Employment Regulations - Break Entitlements.............................................................8
IV

1. Introduction
Victoria’s Secret is a strategic business unit of Lim-
ited Brands, which currently owns and operates six
other companies dealing in the apparel and beauty
cosmetics sector. The company includes a diverse
product mix which including: underwear, sleepwear,
seasonal wear, accessories, swimwear and beauty
cosmetics (Workman, 1996).
Victoria’s Secret stores, which specialise in lingerie
(Workman, 1996), range from 600 square feet to
1,000 square feet and are owned under a whole-
sale agreement carrying the Victoria’s Secret brand
(Limited Brands, 2011a). These stores are usually
opened in tourist destinations, such as shopping
centres, airports and major cities (Limited Brands,
2011a).
The main corporate strategy of Victoria’s Secret fo-
cuses on marketing efforts ensuring brand recogni-
tion through several tactics such as: fashion shows,
celebrity endorsements, catalogues and advertis-
ing. Currently, Victoria’s Secret sells to customers
in over 80 countries through their direct website
Limited Brands, 2011a).
The Albany Mega Centre would suit Victoria’s Se-
cret large tenanting requirements as it is a bulk retail
facility in a sought-out location. Currently, the Al-
bany Mega Centre facilitates 26 retail tenancies, the
principal tenants being: The Warehouse, Farmers,
Cotton On, Briscoes, Rebel Sport and North Beach
(Argosy Property Trust, n.d.). It has readily available
parking and is situated central to the Albany West-
field Mall, Massey University, the Albany Stadium
and a motorway off-ramp.
This environmental analysis report will focus on the
feasibility of opening a new Victoria’s Secret store
in the Albany Mega Centre. Sociocultural, demo-
graphic, economic, technologic and political fac-
tors will be closely examined to assess the market
attractiveness and competitive advantage of a new
Victoria’s Secret store in Albany.
1

2. Sociocultural Forces
1
TV Guide April 23-29, 2011. Sample was drawn from a typical weekday (Wednesday April 27). Only free-to-air channels (TV1, TV2, TV3, Four,
Prime, and Maori) were used in the sampling frame. Thirty-nine of Seventy-nine programs were American.
Cultural and social influences are considered the most fundamental determinants of
an individual’s wants and needs (Kotler & Keller, 2009), and are therefore important
variables to consider when establishing a foreign company within New Zealand.
Today’s New Zealand is a multicultural society, comprised largely of highly educated
and sophisticated individuals who enjoy self-reliant qualities and have a genius for
innovation (Acrossnz, 2008). In large, the ‘Kiwi’ female enjoys the same economic in-
dependence as her American and British counterparts (Statistics New Zealand, 2005).
However, measuring and comparing the New Zealand sociocultural identity with that
of America’s can be a difficult process. The Ministry of Social Development (2010)
argues that “television is the dominant cultural medium for most New Zealanders”
(p.1), therefore one sure way to compare both countries is to measure the amount of
local programming. In America, 90 per cent of television programs are locally made,
compared to only 24 per cent in New Zealand (NZ on Air, 2009). Interestingly, using
a sample from The TV Guide1
it was discovered that approximately half the content
was American. This suggests that New Zealanders have a high exposure rate to the
American culture.
Also apparent within both America and New Zealand’s cultural structure is how nor-
mative femininity is based on the same physical attributes. This is most obvious when
comparing New Zealand lingerie adverts to those of Victoria’s Secret and its ‘angels’.
Though oceans apart, both nations use women of similar ethnicities, age, and hair
colour to advertise underwear, with the ideal female being large-breasted, tall and
skinny (Morrison, 2007). Thus, the visual representations of ‘stereotypical’ women
used throughout Victoria Secret’s campaigns should have the same effect on New
Zealand women as it has had on American women.
There are, however, some blatant differences between the sociocultural environments
of the two countries. One of which is the difference in language which may have
advertising repercussions- where in America women’s underwear are largely referred
as ‘panties’, in New Zealand the term ‘knickers’ is more applicable (NDP Fashion-
world, 2004). But this should not detract from the fact that more similarities between
the countries’ social and cultural norms exist than differences and that New Zealand’s
sociocultural environment- in terms of lingerie, females, and fashions- is heavily influ-
enced by the Americans.
2

This demographic analysis will focus on the popula-
tion trends which affect the Albany Mega Centre
market. Focus will be placed on the size, growth
rate, population and age distribution within the
North Shore region. Distinctive consideration will be
given to factors which attain to the target market for
Victoria’s Secret which is comprised of 15-44 year-
old females2
.
Albany is the shopping hub of the North Shore
(Auckland Council, 2010), therefore the North Shore
as a whole will be examined in this demographic
analysis.
In total, there are 47,556 females within the tar-
geted age group (15-44) residing on the North
Shore (Statistics New Zealand, 2006a). Because
approximately 45 per cent of North Shore females
fall within the 15-44 year-old target market this sug-
gests an ideal location for a new Victoria’s Secret
store.
3. Demographics
2
The target market age group is derived from personal experiences
3.1 Population for the North Shore
The population for North Shore females in 2001
was 95,637, and in 2006 increased to 105,717
(Statistics New Zealand, 2006a). This is a 10.5 per
cent increase within a five-year timeframe suggest-
ing that the potential consumer base for Victoria’s
Secret is increasing.
(Statistics New Zealand, 2006a)
Graph 1: Age Distribution of Females Living in the North Shore
3

The median income for the North Shore is
$29,100. New Zealand as a whole has a me-
dian income of $24,400 (Statistics New Zealand,
2006b). The implication of this is that North Shore
is a higher socio-economic area and therefore, is
more likely to have a higher purchasing power and
more disposable income than the average Auck-
land resident (Statistics New Zealand, 2006b).
3.3. Education
The education levels within the North Shore region
are high, with 47.1 per cent having gained a
post-school qualification (New Zealand Statistics,
2006c). Only 13.8 per cent of the North Shore
population who are over the age of 15 have not
gained any formal qualification. Due to a strong
positive correlation between education levels
and income (Keller, 2010) this would imply that
North Shore residents are within a higher-income
bracket.
Sixty seven and a half per cent of people in the
North Shore belong to the European ethnic group,
while 18.8 per cent belong to an Asian ethnic-
ity. Aside from English, the next most common
language spoken on the North Shore is Korean,
which is spoken by 4.1 per cent of people. The
North Shore is recognized as a culturally diverse
location (Statistics New Zealand, 2006d). This
means that although Victoria’s Secret’s business
operations will be conducted in English, the com-
pany will need to consider appealing to a wide
variety of different cultures and customs.
4. Economic
4.1. Exchange Rates
A strong New Zealand dollar increases the pur-
chasing power for New Zealand importers (Re-
serve Bank of New Zealand, n.d.). This means
that American products can be purchased for
less, benefiting the opening of a Victoria’s Secret
store. Due to the majority of the products being
manufactured in the United States, the exchange
rate between the NZD and USD should be con-
sidered as this will affect the profit margins.
4.2. Inflation
Appreciation of the NZD will lead to a lower infla-
tion rate (Reserve Bank of New Zealand, n.d.).
This is basically because more imported goods
are competing in the domestic market; therefore
domestic goods will have to reduce their prices in
order to keep their competitiveness.
4.3. Economic Growth and Interest
Rates
New Zealand is currently showing low interest
rates (Reserve Bank of New Zealand, 2011). The
lower the interest rate, the higher is the expendi-
ture on retails items and commodities.
Graph 2: Income for People Aged 15 Years and
Over
(Statistics New Zealand, 2006b)
3.2. Income 3.4. Ethnicity
4

Graph 3: Economic Growth North Shore
(Enterprise North Shore, 2011)
This economic growth is reflected in the retail sector (Enterprise North Shore, 2011) as demonstrated in the
following graph which shows the value of retail sales for the period of April 2010 to November 2010.
As shown in the graph below, the North Shore area presented a negative growth of 0.3 per cent for the
month ending in April 2010. As for the months ending June 2010 and November 2010, the economy
showed a positive growth with 0.2 per cent and 1.3 per cent respectively (Enterprise North Shore, 2011).
According to Fallow (2011), the Auckland economy, “should be growing by between 3 and 3.5 per cent by
the end of the year. Growth over the entire year could average around 2.5 per cent, compared with the 1.5
he expects for the country as a whole, which is more optimistic than the consensus 1.1 per cent”(para.5).
Graph 4: Retails Sales in New Zealand
(Enterprise North Shore, 2011)
The graph shows a low value on retail sales when the economy presented a negative growth in April 2010.
The economy is recovers towards the end of the year and the value on retail sales increases.
5

Table1: Clothing Retail Sales in New Zealand
(New Zealand Retailers Association, 2010, p.25)
There is a positive correlation between
the ‘Economic Growth’ and the ‘Retail
Sales’ graphs; as the economy of
the country grows, the retail sector
increases in sales. If this trend contin-
ues, this will directly benefit the new
Victoria’s Secret store as a recession
free economy will give consumers
more confidence (English, 2011).
This is supported by Table1 ‘Clothing
Retail Sales in New Zealand’ (see
below), in which the performance of
the clothing sector in comparison with
the regular retail sales over the last
six years is presented (New Zealand
Retailers Association, 2010).
The retail figures for the years 2008
and 2009 show a decrease in sales.
The scenario for 2010 looks more
positive with a 4.1 per cent increase.
This positive scenario accompanied
by positive economic growth will lead
to the success of the new Victoria’s
Secret store.
Year ending
March
Total ‘Regular’ Retail
Sales
% Change
Prior Year
Total clothing /Soft
Goods Retail
% Change Prior
Year
$m % $m %
2010 41,332 2.6 2,662 4.1
2009 40,294 1.5 2,556 -1.2
2008 39,697 5.1 2,587 4.2
2007 37,769 6.1 2,482 2.9
2006 35,611 5.9 2,413 11.5
2005 33,616 6.7 2,165 8
6

Victoria’s Secret employs technology to monitor
the fast-paced changes in the fashion industry.
Their ‘speed-to-market’ business model focuses
on shortening the time between generating a new
product concept and product launch; an approach
central to Victoria’s Secret’s trend setting in the
industry (Kumar, 2005). This approach is supported
by supplier technology which is “so remarkable that
production is at unbelievable levels” (MAS Hold-
ing, 2011, para.9). ‘Speed-to-market’ would be a
challenge for Victoria’s Secret in New Zealand as
transport takes longer than in America.
5.1. Transport Logistics
As Victoria’s Secret uses over-seas factories, the
means of transport is of key importance; both air-
freight and ocean shipments are utilized. Victoria’s
Secret has an internal logistics provider, Limited
Logistics Service (LLS), who decide which method
of transport to use (Kumar, 2005). Victoria’s Secret’s
lingerie items are cost-effective to transport due to
being small and lightweight, however, costs would
escalate when transporting to New Zealand there-
fore decreasing the market attractiveness of open-
ing a Victoria’s Secret store. The use of infrequent
but large cargo loads would be preferable.
5.2. Victoria’s Secret Direct
Victoria’s Secret Direct, the online technology of
virtual shopping and printed catalogues, is an
advantage to Victoria’s Secret as it provides con-
venient access to products at any time; a service
not provided by all retail stores. New Zealand rivals,
such as Cotton On and The Warehouse, do provide
online shopping sites but are not concentrated to-
wards the New Zealand market nor do they display
all products; this is a potential opportunity for Vic-
toria’s Secret to exploit as current customer prefer-
ences and buying patterns are quickly identified.
5.3. Victoria’s Secret Inventory
Management
Because Victoria’s Secret is a multichannel retailer,
including Victoria’s Secret Direct, Victoria’s Se-
cret Stores and Victoria’s Secret Beauty, technol-
ogy to communicate the needs of each channel
is essential. Currently Victoria’s Secret stores use
point-of-sale (POS) data to monitor inventory levels
and anticipate stock needs to communicate to the
distribution centre (Kumar, 2005).
5.4. Telecommunication
Telecommunication with North Shore’s population
would be effective as 77.4 per cent have access to
the Internet and 82.9 per cent have access to cell
phones (New Zealand Statistics, 2006e). Victoria’s
Secret currently communicates product offerings to
American and Canadian customers via facebook,
twitter, email, iPad, iPhone, YouTube and mobile
phone (Biro & Durbin, 2004). At very little cost,
these strategies could be implemented to effectively
reach the North Shore market. Although available
to all members of this industry, the use of social
networking sites and ‘apps’ have not yet been em-
braced by Victoria’s Secret competitors and could
be a source of competitive advantage.
5. Technology
7

6.1. Employment Regulations
The Department of Labour (2011) outlines the min-
mum costs Victoria’s Secret will incur when employ-
ing in New Zealand:
• Victoria’s Secret must pay employees 16 years
and over the minimum wage of (NZD) $13.00 per
hour. Unless the employee is undertaking training
or has not worked for more than 200 hours or three
months.
• Victoria’s Secret must provide employees with the
following breaks:
Table 2: Employment Regulations-
Break Entitlements
NOTE: For working over 8 hours, the break entitle-
ment starts again.
• Victoria’s Secret will be obligated to provide
employees with the following holidays:
- Four weeks wages paid holiday after twelve
months (after employment period of one year).
- After six months employees are entitled to five
paid sick days every 12 months.
- After six months employees are entitled to three
days paid bereavement leave following the death of
an immediate family member.
- Employees are entitled to time-and-a-half pay and
an alternative paid holiday after working a public
holiday that is a normal working day for them. If it
is not their normal working day they are entitled to
time-and-a-half pay only.
• If Victoria’s Secret does not comply with employ-
ment laws, fines can be incurred of up to $20,000
for the company and up to $10,000 for individual
employees.
6.2. Legal Regulations
Within New Zealand, legislations will affect the op-
erations of Victoria’s Secret:
Under the Consumer Guarantees Act (1993) as
cited in Hawes (2007) Victoria’s Secret is obli-
gated to provide consumers with guarantees for
the goods they sell. Victoria’s Secret has to ensure
their products are of acceptable quality, fit for their
intended purpose, safe, durable and have no minor
defects.
Under the Fair Trading Act (1986) as cited in Hawes
(2007), Victoria’s Secret is obligated to disclose the
following on any clothing items under the Consumer
Information Standards:
• Country of Origin (Clothing and Footwear Labe-
ling) Regulations 1992- clothing has to be labeled
with its country of origin in English, be permanent
and easily seen.
6. Political & Legal
Environment
Time Period of work. Provide 10 minute paid
break.
Provide 30 minute
unpaid break.
Provide another 30
minute unpaid break.
Less than two hours.
Between two and four
hours.
Yes
Between four and six
hours.
Yes Yes
Between six and eight
hours.
Yes Yes Yes
8

3
See Appendix 2 for more SWOT analysis which focuses on competitive advantages of Victoria’s Secret
• Fibre Content Labeling Regulations 2000 –
all textile goods must be labeled with their fibre
content.
• Care Labeling Regulations 2000 –
labels on the clothing must describe how to cor-
rectly care for the clothing with the use of words,
phrases and symbols.
When importing Victoria’s Secret products into
New Zealand many costs are incurred:
• A Goods and Services Tax (GST) of 15 per cent
of the transactional value of the goods which is
the price paid for the imported goods, converted
into NZD by using the current exchange rate on
the date of the import entry (New Zealand Cus-
toms Service, 2011a, 2011b).
• GST is paid on the freight and insurance costs
of the goods (New Zealand Customs Service,
2011a).
• An import transactional fee of NZD $25.30 is to
be paid on every import entry plus a biosecurity
risk screening levy of NZD $12.77 (New Zealand
Customs Service, 2011a).
• A tariff duty of 5 per cent of the transactional
value is to be paid on the cosmetic imported
goods (New Zealand Customs Service, 2011c).
7. Market and Industry
The target market for Victoria’s Secret can be de-
fined as contemporary women between the ages
of 15 and 44. Although the brand originally sought
to target only ‘white-collar’ females (Workman,
1996), a combination of its expanding product
mix and intensive marketing tactics has expanded
its target audience, incorporating both ‘tweens’
and ‘middle-aged’ females as customers.
This strategic move has seen the brand experi-
ence a sharp revenue rise in the month of April
2011, despite the economic downturn experi-
enced in the America (The Associated Press,
2011). Coupled with data postulating that the
average woman is continually replenishing her
underwear drawer (NDP Fashionworld, 2004), it
follows then that the market for these types of
products has constant demand and a captive
target audience.
However, the success of Victoria’s Secret in
America is not only attributed to the lucrative
market of undergarments, but also to the power-
ful brand name the company has sought to build
and maintain. Further attesting the success of
this company is research which has shown that
Victoria’s Secret is the second most recognised
brand amongst women in the world (NDP Fash-
ionworld, 2004). Likewise, in the month of April
2011, Victoria’s Secret received more facebook
‘Likes’ than any other retailer (Eaton, 2011).
It is expected that the market in New Zealand
would follow along the same lines as America due
to economic and sociocultural similarities. By
analysing Porter’s Five Forces3
, the market here
can be examined in further depth and compari-
sons can be made with more confidence.
9

7.1. Bargaining Power of Suppliers
It is argued by Kotler and Keller (2009), that when
supplied products are a company’s greatest as-
set, the supplier will ultimately have some form of
bargaining power.
However, the nature of the apparel industry, which
is flushed with manufacturers, as well as the power-
ful name of Limited Brands, suggests that suppliers
would have little to no bargaining power in the New
Zealand market.
7.2. Bargaining Power of Customers
The customer’s bargaining power largely stems
from the availability of substitutes in the market for
similar products (Porter, 2008). When referring to #4
Threat of Substitutes (see below) it is apparent that
consumers would hold some bargaining power, but
only in large numbers.
Customers have a large amount of choice within
easy walking distance and substituting products
involves no switching costs. Consequently, cus-
tomers will be less inclined to brand loyalty (Porter,
2008).
7.3. Threat of New Entrants
The barriers to entry for Victoria’s Secret in the
Albany Mega Centre are low as it has the necessary
start-up capital, there is no one competitor who
exerts control over the segment and there are no
harsh legal regulations to meet (Porter, 2008).
Therefore, new entrants could easily enter the linge-
rie market, thus competing with Victoria’s Secret.
7.4. Threat of Substitutes
There is little in the way of substitute products for
underwear, unless a customer has an inclination to
go without them. Consequently, Victoria’s Secret’s
customers will have little propensity towards a sub-
stitute product.
Also, the Victoria’s Secret concept is completely
new to the New Zealand business market so con-
sumers could not substitute the shopping experi-
ence with another retailer.
10

There are currently nine retailers4
in the Albany area
which can accommodate the underwear needs of
the approximately 47,556 females (aged 15-44)
living on the North Shore (Statistics New Zealand,
2006a). Four of these retailers are tenants of the
Albany Mega Centre5
(see Appendix 1 for entire
Albany Mega Centre retailing mix).
When these competing retailers are examined in
more depth it is apparent that none meet all the
needs of the typical Victoria’s Secret customer. The
Warehouse, for example, is a general department
store and its products are not perceived as ‘classy’
or ‘luxurious’. Cotton On, although brand recogni-
tion is high and pricing is affordable, does not target
the older female group. Alternatively, Ezibuy mainly
targets older women and is not well known for its
lingerie department, the same applies to Postie
Plus.
As for Westfield competitors, the biggest threat
would likely be Bras N Things’, however, it does
not stock the wider product mix found at Victoria’s
Secret (such as accessories and beauty cosmet-
ics). Farmers, Bendon, and Peter & Alexander are
all upmarket and often times too expensive for the
younger consumer.
Therefore, though competition exists, none can
accommodate all the criteria sought by the ‘typical’
Victoria’s Secret customer rendering little more than
minor competition.
7.5. Industry Competition
4
Farmers, Kmart, Warehouse, Bendon, Bras N Things’, Peter Alexander, Ezibuy, CottonOn, Postie Plus
5
The Warehouse, CottonOn, Ezibuy, Postie Plus 11

8. Conclusion
Through the application of a macro environmental
analysis, this report sought to determine the suit-
ability of a new Victoria’s Secret store in the Albany
Mega Centre by examining factors such as socio-
cultural, demographic, economical, political/legal,
technological and market/industry variables.
It was discovered that the store would encounter
difficulties whence entering the New Zealand mar-
ket. The use of different terminology due to socio-
cultural factors, and a multicultural diversity present
within New Zealand, which differs from America,
would have marketing implications. Also, high
importation costs, fluctuating exchange rates, high
transportation costs, and regimented legal regula-
tions could also hinder the new store and have
management implications.
Similarly, because the barriers to entry are low, there
is the ever present threat of new entrants entering
the apparel sector. Economic conditions, consum-
er perceptions of country-of-origin labelling, as well
as attitudes towards America as a whole could also
challenge the success of a Victoria’s Secret store
here in Albany.
However, the current market conditions existing
within the Albany region identifies competitors’
which cannot offer the entire product range and
shopping experience provided by Victoria’s Se-
cret, meaning that the new store would enjoy high
market share in a high growth market (as there are
few substitutes available). And though the industry
is one which is easy to enter, the powerful brand
name of Victoria’s Secret would make it difficult for
new entrants to steal its market share.
Likewise, the analysis demonstrated the follow-
ing favourable points: that more similarities exist
between the nation’s sociocultural environments
than differences, that the North Shore population
is growing quickly whereby a large percentage is
composed of Victoria’s Secret target market, that
current economic conditions are favourable for the
new store with predictions suggesting an upward
trend for the months to come, that Victoria’s Secret
effective use of telecommunications should help to
minimise the exorbitant transportation costs whilst
efficiently spreading brand recognition throughout
the New Zealand market, and that the political
conditions present within New Zealand pose no
problem for the store’s success providing Victoria’s
Secret complies with legislation and regulations.
In conclusion, the difficulties a new Victoria’s Se-
cret store would encounter when entering the New
Zealand market do not negate the positives. When
all points are considered it is concluded that open-
ing a new Victoria’s Secret store in the Albany Mega
Centre is not only feasible but possibly an extremely
lucrative endeavour.
12

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13

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14

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15

Store Name Genre
Animates Pet Care
Baby Factory Other
Bed Bath N Beyond Houseware
Bivouac Outdoor Leisure
Briscoes Houseware
Burger King Other
Care Pharmacy Other
CottonOn Fashion
Dick Smith Electronics
Ezibuy Fashion
Farmers Houseware
Golf Leisure
Hallensteins Fashion
Jay Jays Fashion
Katmandu Leisure
Lighting Direct Houseware
Noel Lemming Electronics
North Beach Fashion
Plastic Bin Houseware
Postie Plus Fashion
Rebel Sport Leisure
Shantons Fashion
The Warehouse General
Warehouse Stationary Other
Whitcoulls Other
Appendix 1
16

Appendix 2
SWOT
Strengths
• stores provide a unique shopping experience
• offers wide range of products
• powerful brand name associations
• expertise. The brand first started in America
in 1970s and is one of the largest retailers of
lingerie in America (Lingerie Uncovered, n.d.)
• high quality products at affordable prices
• intensive marketing strategies
• offers online sales
• discounted prices when buying in bulk
Weaknesses
• ethnocentrism
• mainly target women
• not known for its environmental friendli-
ness
Opportunities
• The direct competition (The Body Shop, Peter
Alexander and Cotton on) don’t offer the
same range of products under one brand
• Ability to take advantage of an established
brand
• Stepping stone to untapped Australasian
market
• high internet usage in New Zealand will allow
Victoria’s Secret to have a presence nation-
wide
• currency fluctuations, ability to increase profit
margins through currency shifts.
Threats
• Currency fluctuations, ability to increase
profit margins through currency shifts.
• Subject to public opinion of the United
States.
• Established competition in the Albany
Area.
• ethnocentrism
• economic conditions; smaller dispos-
able incomes
17

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