COMPANY PROFILE -Big Lots Inc.
Business Sector :Retail
Operating Geography :United States, North America, Global
About Big Lots Inc. :
Big Lots Inc. is a home discount retailer with its corporate office in Columbus, Ohio. In was established in 1967. The firm has stores all across the country and also has an online presence. Food, consumables, soft home, hard home, furniture, seasonal, apparel, electronics, and other items are among its product categories. Beverage, grocery, specialty, and pet food areas are all part of the food. The Consumables section comprises plastics, chemical, health, beauty, and cosmetics divisions. The Soft Home has divisions for home furnishings, frames, fashionable bedding, functional bedding, colorful fabrics, and area rugs. Small appliances, tabletop, food preparation, stationery, house maintenance, home organizing, and toys are all included in The Hard Home. The furniture includes sections for mattresses, ready-to-assemble items, and case goods. The seasonal category includes the summer, Christmas, and other holiday divisions as well as the lawn & garden section. The "Apparel, Electronics, & Other" area also includes jewelry, hosiery, and candy and snack aisles. The company announced a new agreement with DoorDash in September 2022, to provide customers with on-demand delivery of its home necessities from more than 1,400 Big Lots locations spread over 48 states.
Big Lots Inc.'s USP is that it is the leading home discount retailer and a Fortune 500 company, operating 1,432 locations in 47 states, as well as having the greatest e-commerce platform with extended capabilities via BOPIS, curbside pickup, Instacart, and same-day delivery across thousands of items. The mission statement of Big Lots reads, "Delivering unmatched value through surprise and delight. Building a “best places to work” culture. Rewarding shareholders with consistent growth and top-tier returns. Doing good as we do well".
Big Lots Inc. Revenue :
$6199 million - FY ending 30th January 2021 (y-o-y growth 16.46%)
$5323 million - FY ending 1st February 2020
Competitive Analysis of Big Lots Inc.
The SWOT analysis for Big Lots is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. The company has over 1400 stores with substantive digital presence.
2. The company has a diversified portfolio of products thereby reducing specific risk.
3. Strong vendor relationships help in sourcing quality materials at lower prices.
4. Sells goods below prices of discount retailers and traditional retailers.
5. Growing base of loyal customers
| 1. Almost all stores are leased increasing the cost of operations.
2. Dependence on manufacturers located in foreign countries.
3. Involved in various litigations and regulatory actions.
4. All stores all located in United States.
|
Opportunities | Threats |
1. Growth in the e-commerce demand providing scope for the company to increase its sales.
2. The company can leverage its social media platform for marketing
3. Strong potential in new store openings and sales productivity potential
| 1. Seasonal fluctuations impact the sales and profitability of the company.
2. Highly competitive discount retail industry may materially impact result of operations
|
Big Lots Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Big Lots Inc.
Strength
This section is available only in the 'Complete Report' on purchase.
Weakness
1. Almost all stores are leased increasing the cost of operations: Out of the 1408 stores that the company owned as of January 2021 only 50 stores were owned by the company. All the owned stores of the company are located in the United States, predominantly in strip shopping centers. 36 owned stores are concentrated in California and 3 owned stores are present in each Colorado and Florida. All the remaining stores are leased. Store leases generally obligate the company for fixed monthly rental payments plus the payment in most cases of the company’s applicable portion of real estate taxes, common area maintenance costs and insurance property. Moreover, some leases also require payment of a percentage of sales in addition to minimum rent. Hence, most of the stores of the company are leased which lead to increase in the operational costs.
The remaining section under "Weakness" is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Big Lots is presented below in a table followed by the detailed analysis report
Political | Economical |
1. US-China trade war will adversely impact the company.
2. The Tax Cut and Jobs Act will positively impact the company.
| 1. Decline in disposable income of consumers can negatively impact sales.
2. Fluctuations in interest rates and inflation impact the operations of the company
|
Social | Technological |
1. Increasing influence of social media on people’s purchasing demands
2. Leveraging perception of exceptional bargains and surprising treasures
| 1. Use of e-commerce website to enhance customer experience. |
Legal | Environmental |
1. Required to comply with the stringent wage and hour laws of California along with Fair Labour Standards Act. | 1. To reduce environmental impact, minimization of energy use.
2. To obtain a circular economy focus on water and waste reduction.
|
Big Lots Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Big Lots Inc.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Increasing influence of social media on people’s purchasing demands: In recent times, social media influence 71% of consumer buying decisions. According to GlobalWebIndex 54% of social media users use social media to research products and 71% are more likely to purchase products and services based on social media referrals. This is because there has been a rise in online shopping and the amount of time people spend on social media. Consumers who are influenced by social media are likely to spend 4 times more on purchases. The increase in the influence of social media is primarily because of a few reasons such as shortened time and efforts required to search for a product. People with limited time, information have more trust on the word of mouth of influencers and friends on social media. According to Forbes, 81% consumer purchasing choices are influenced by their friends’ posts on social media.
The remaining section under "Social" is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Zeopedic
- Ashley
- Sealy
- Serta
- Broyhill
- Bella
Big Lots Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
You may also be interested in other analyses of Big Lots Inc.:
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Big Lots Inc. Porter's Five Forces Analysis |
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Big Lots Inc. VRIO Analysis |
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Big Lots Inc. Value Chain Analysis |
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Big Lots Inc. Covid-19 Impact Analysis |
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Big Lots Inc. BCG Analysis |
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Big Lots Inc. Segmentation, Targeting and Positioning (STP) Analysis |
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Big Lots Inc. Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in Big Lots Inc. SWOT & PESTLE Analysis Report
1. Annual Report - https://www.biglots.com/images/marketing/2021/Final-2020-Annual-Report-04.13.2021.pdf
2. Investors Presentation - https://www.biglots.com/marketingassets/INVESTORPRESENTATION2022-1.pdf
3. US retailers shake up supply chains as tariffs bite - https://www.ft.com/content/35a26b32-fa69-11e8-af46-2022a0b02a6c
4. Preliminary Details and Analysis of the Tax Cuts and Jobs Act - https://taxfoundation.org/final-tax-cuts-and-jobs-act-details-analysis/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Big Lots Inc. SWOT and PESTLE analysis has been conducted by Shreya Gupta and reviewed by senior analysts from Barakaat Consulting.
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