To help CTC management develop better strategies and plans for sustainability, they usually carry out SWOT analysis of Canadian Tire. By analyzing your company's weaknesses and potential threats, you can easily learn the areas that require adjustments and how to position yourself for success. Defining strengths and opportunities, on the other hand, allows the company to determine the areas to focus on to gain a competitive advantage in the market. It is recommended to conduct a SWOT analysis frequently so that the company's performance is not harmed by changing market trends. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay SWOT Analysis of Canadian Tire To come up with a comprehensive SWOT analysis of Canadian Tire, it is advisable to clearly address each of the four elements independently. The following is an assessment of Canadian Tire Corporation's strengths, weaknesses, opportunities and threats; Strengths Canadian Tire Corporation draws its strength from many aspects. The company has a diversified portfolio that includes auto parts and services, home products, apparel, oil/gas and financial services. This has allowed it to become the largest retailer in Canada, with stores across the country and online presence. Other strengths of the company include: Larger and more loyal customer base Variety and rapid delivery of fast-moving consumer goods Greater marketing flexibility, especially in the use of its credit card On the local retail network, Canadian Tire Corporation is a renowned brand that has been around since 1922. WeaknessesLike other major retail chains, Canadian Tire also has some levels of weaknesses. The first is that despite the diversified portfolio, the company remains more focused on the local market. This could have negative impacts on the business in the event of difficult market conditions. Furthermore, there have also been concerns about the prices of goods and services offered by CTC, which many believe have increased. Another weakness is the lack of focus on the changing demographics of the Canadian retail sector, caused by the influx of different cultures into the country. the population. CTC did not want to satisfy the changing market trends. Additionally, the company's customer service has also slowed down, something that could easily convince many customers to switch to other retailers. OpportunitiesDue to the importance of CTC in the local market, it has more opportunities to exploit in Canada to increase sales and revenues. In recent years, many retailers in the Canadian market have been acquired by foreign companies. This means Canadian Tire has the space to use its national pride as a unique aspect in its campaigns. The income levels of many Canadians are rising, and that's good news for the company. Higher income levels mean that many people will tend to purchase more retail products and services, impacting increased sales and ultimately revenues. However, it should be noted that purchasing trends may vary based on the products requested, prices and quantities purchased. Rapidly changing market trends create a need for variety, which Canadian Tire can leverage by diversifying its product portfolio to meet different demands. Threats Although it consolidates Canadian Tire's sales and financial performance, it faces significant threats. Some of these threats have been on the market for a long time, while others are just gaining traction. Furthermore, there are other threats as well.