T.K Maxx is one of the famous European off- price retailer with more stores, more variety of products and quality brands. T.K Maxx is part of the TJX companies which is known as the off-price retail chain in the United States. Retail concept of United States came to the United Kingdom in 1994 because the first T.K Maxx was opened in Bristol in 1994. As of June 2009, T.K Maxx had 247 stores across Europe, 212 stores in the United kingdom, 13 in Ireland, 18 in Germany and 4 in Poland (Source: Official website T.K. Maxx).T.K Maxx is the 10th largest fashion retailer in the UK (Source: TNS Fashion Tracker). T.K. Maxx is the UK’S fourth favorite retailer, the third favorite clothing retailer and the UK’s shoe retailer for 2009 (Source: Verdit Retail Group).
III. Strength, Weakness, Opportunities and Threats
3.1 Strengths
Affordable price and quality product is the demand of the more customers and T.K Maxx has the positive impact of customers.
T.K Maxx encompasses a wide range of sectors and people may have little options but to buy new clothes and other accessories they choose for T.K Maxx.
The falling cost of goods over the past decade has encouraged consumers, to buy goods more often than in the past.
The UK retail marketing benefits from a strong tradition in fashion and design. T.K Maxx also affected from this.
3.2 Weakness
Sales are seasonal, Most of the expensive items like coats, party wear and different gifts are required mainly in Christmas time.
Many large retail companies wear established and it is difficult for competition and to established new T.K Maxx stores.
The recession has also sparked price war that is further eroding profit margins.