Swot Analysis Of Big Lots

Big Lots is a discount store that sells general merchandise such at home goods, furniture, seasonal items, and pet supplies. These products are typically brands that can be found in other general merchandise stores such as Walmart, K-Mart, and Target. Big Lots is in the SIC code 5331. This code also includes other general merchandise stores such as Tuesday Morning, which is a home goods store; and Costco, which is a warehouse store. Big Lots is structured as a closeout store that offers their products at a discount to their customers. Big Lots operates in the industry of variety stores which includes such stores as Walmart, Target, Dollar Tree, and Five Below. These stores also server as competitors of Big Lots.
Big Lots was founded in 1967 by Sol Shenk2. The store operated until
The vision of Big Lots stores is: Recognized for providing an outstanding shopping experience for our customers, valuing and developing our associates, and creating growth for our shareholders1. The strategic objectives for Big Lots is to create growth their shareholders1. As stated on the Big Lots website, they are able to create growth for their investors by the sites they select for their stores, their buying selections, and how well they contain their costs, to name a few4. By creating a value for their customers, Big Lots can appeal to a number of different customers and create a customer base that will keep coming back to their stores in order to see what they will have and what type of bargain they can come home with. This is how they can fulfill their mission. Big Lots can fulfill their vision by training their employees to provide excellent customer service, which will help them to provide an outstanding shopping experience for customers and also develop associates and while doing these two things they will create growth for their