Analysis of Competition Barney’s New York
15 E. Oak Street, Chicago, IL Barney’s is a contemporary, fashion department store with several locations throughout the United States. Chicago is home to one of Barney’s department stores. It is located in the Goldcoast/Streeterville in Chicago. The Chicago Barney’s location is at the corner of Rush and Oak, which is incredibly pricey real estate. The neighborhood attracts wealthy Chicagoans and tourists from around the world. Barney’s key strength is the amount of capital behind the business. It is a huge business with seemingly immeasurable pocket depth. They are able to offer the latest in fashion trends and classics at some of the most competitive prices in the market. One weakness may be the notion that Barney’s is a place for unobtainable possessions for someone with a modest salary. The sales staff seems to be comprised of gay men and bored housewives of millionaires in need of a part time job strictly for socialization. This type of snooty vibe deters many people from setting foot in Barney’s stores. Haberdash
1350 N. Wells Street, Chicago, IL Haberdash is a local men’s boutique with two locations in the Chicago area; one in the bustling River North area on State street and the other in the historic area of Old Town on Wells street. They are a one-stop shop for quality men’s garments, accessories and essentials. Real estate in both areas is incredibly pricey. Strengths include a knowledgeable sales staff, prime locations, and good product mix. Weaknessesinclude a lack of online business or support, as well as an unclear, direct vision of business. While all lines carried are top-notch, the correlation between the product mix is messy.
Apartment Number 9
1804 N. Damen Avenue, Chicago, IL Apartment Number 9 is a men’s boutique that originated in Chicago and now has locations in several other U.S. states. The host a selection of quality menswear lines at reasonable price points in a cool, comfortable environment. The order few of each garments to ensure a surplus of stock won’t end up on the sale rack. They are located in Bucktown, which is incredibly pricey but has a great deal of foot traffic and a strong reputation of a shopping haven in Chicago. Weaknesses include documented accounts of rude sales people with very little knowledge on the product they are selling. There is also a lack of a strong online presence and support. No merchandise is sold online.