SWOT Analysis

These are Shopden's Strengths, Weaknesses, Opportunities, and Threats.

Mikael La Ferla

8/23/20232 min read

Our SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) accurately represents our organization's position and what needs to be done.

  • Strengths

    • Our unique features of GPS/time-based notifications, real-time store information, budget tracking, and expense comparison enhance users' experience through our competitive advantage

    • Shopden's real-time store information consists of inventory, prices, and location, as users can make informed purchasing decisions within close proximity of these stores

    • Shopden's expense tracking and budgeting features help users manage

    • Users can customize their lists for any event (food shopping, toiletries, etc.) and share them with relevant people.

    • Our collaborative lists make it possible to share them with friends, family, coworkers, roommates, etc. As a result, users are informed on what has yet to be purchased.

  • Weaknesses

    • Due to iOS/Android app regulations, location tracking in the background only lasts 10 minutes. This regulation means after a user switches to another application or puts their phone down, they won't receive GPS notifications on nearby stores with items on the users' lists after 10 minutes.

    • Since these are very new features to smartphone users, there will likely be a learning curve for our users. It will be essential to assist first-time users with navigating all of the different features on Shopden and knowing how they work.

    • Although users can access their lists in any environment (little-to-no internet or cellular connection), receiving real-time information would be easier if the user has a stable internet/cellular connection.

  • Opportunities

    • Our competitive advantage is our GPS-based notifications and real-time inventory. As the number of users and stores increases, so will the expectation of Shopden's efficiency. We will focus on scaling Shopden's features to satisfy the demand.

    • Continuing to partner with retailers and stores so we eventually cover every aspect of shopping (clothing, furniture, accessories, etc.)

    • Using volunteered consumer data, Shopden can optimize users' shopping experience by providing them with relevant ads and offers and detecting fraudulent purchases.

  • Threats

    • Shopden's main competitor is AnyList, which has features like collaborative lists, live inventory and prices, and an easy-to-use design.

    • Prominent list-sharing apps (e.g., AnyList) can adapt our GPS-based notifications and features, thus making our competitive advantage less unique.

    • Making sure Shopden follows all laws and regulations centered around using user data, especially location and shopping preferences.

    • Due to our advanced features, it is crucial that Shopden is easily accessible to users, or they won't use the app.

With this being said, Shopden has a lot of room for improvement in our early stages of development. Our most important task is using our current partnerships (Target, Walmart, Best Buy, Walgreens, and The Kroger Company) and existing user base to branch out into untapped cities and towns. Once more stores and retailers see our progress, they'll likely work with Shopden to assist their customers' shopping needs.

Shopden's SWOT Analysis