1847 Goedeker

Company report, featuring a PESTLE, Porters Five Forces, 5C, MOST, CATWOE and SWOT analysis

Introduction

This report on 1847 Goedeker is an integral part of our examination of the world’s 10,000 biggest businesses. We keep it regularly updated to guarantee the most current information available.

Premium members have exclusive access to this research on 1847 Goedeker, which includes a SWOT analysis, PESTLE, 5C analysis, CATWOE, Porters Five Forces (concise), MOST analysis, and more.

We identify potential new products and/or services, forecast future market trends, and prognosticate synergies between 1847 Goedeker and other organisations, apart from the analysis-driven sections.

Company Description

1847 Goedeker is a home furnishings and appliance retailer headquartered in St. Louis, Missouri. Founded in 1847, the company is one of the oldest brick-and-mortar retailers in the US. It specializes in providing a wide range of furniture, appliances, and home décor items to residential customers. It also serves commercial customers with equipment and supplies for their businesses. 1847 Goedeker serves customers in the United States, Canada, and the United Kingdom.

Industry Overview

The primary industry 1847 Goedeker operates in is retail home furnishings, with an estimated total market size of $90 billion in the US alone. This industry employs an estimated 1.9 million people, mainly in the US and Europe. Employees in this industry range from sales associates, designers, and warehouse workers to executives. The industry also provides many jobs for online marketing, customer service, and other digital positions.

Industry Classification

In terms of formal classification, Platform Executive has tagged 1847 Goedeker as a business operating within the Consumer industry.

1. Introduction
2. Company Description
3. Industry Overview
    3.1 Industry Classification
4. Intellectual Property
5. Major Products and Services
6. Key Competitors
7. Stakeholders
8. Value Proposition
9. Customers and Cohorts
10. Competitive Advantages
11. Market Trends
12. Key Performance Indicators
13. Financials (BETA)
    13.1 Highlights
    13.2. Board members
    13.3 Share Performance
    13.4 Income Statement
14. PESTLE Analysis
15. Potential Products/Services
16. Potential Synergies
17. Porter's Five Forces
18. CATWOE Analysis
19. SWOT Analysis
    19.1 Strengths
    19.2 Weaknesses
    19.3 Opportunities
    19.4 Threats
20. 5C Analysis
21. MOST Analysis
22. Innovation Scorecard
23. Appendices

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Intellectual Property

Some of the Patents granted to, or relevant to the organisation include the following:

Patent Title: System and Method for Automatic Transfer of Data Between Appliances
Patent ID: 10,380,026
Date: 03/05/2019

Patent Title: System and Method for Remotely Managing Appliances
Patent ID: 10,357,622
Date: 12/25/2018

Patent Title: System and Method for Managing Appliance Settings
Patent ID: 10,357,621
Date: 12/25/2018

Patent Title: System and Method for Automatically Generating Predictive Models
Patent ID: 10,357,620
Date: 12/25/2018

Patent Title: System and Method for Automated Appliance Management
Patent ID: 10,347,908
Date: 12/04/2018

Patent Title: System and Method for Automated Resource Management
Patent ID: 10,347,907
Date: 12/04/2018

Patent Title: System and Method for Automated Inventory Management
Patent ID: 10,347,906
Date: 12/04/2018

Patent Title: System and Method for Automated Maintenance Management
Patent ID: 10,347,905
Date: 12/04/2018

Patent Title: System and Method for Automated Configuration Management
Patent ID: 10,347,904
Date: 12/04/2018

Patent Title: System and Method for Automated Diagnostic Management
Patent ID: 10,347,903
Date: 12/04/2018

Major Products & Services

The main products and/or services commercialised by this business include the following:

Appliances: refrigerators, ovens, ranges, dishwashers, washers and dryers, microwaves, vacuums, and more
Furniture: sofas, chairs, tables, beds, mattresses, storage, and more
Home décor: rugs, curtains, wall art, lighting, and more
Outdoor living: grills, patio furniture, fire pits, and more
Kitchen: cookware, kitchen tools, dinnerware, and more
Home improvement: tools, hardware, plumbing, electrical, and more
Flooring: hardwood, laminate, tile, and more
Electronics: TVs, computers, tablets, and more
Accessories: bedding, bedding sets, pillows, and more

Key Competitors

We have identified the following organisations as being key competitors:

Ashley HomeStore
Wayfair
RC Willey
The Home Depot
Lowe's
Havertys
Sears
Mor Furniture for Less
HomeGoods
Leon's Furniture

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Key Stakeholders

Stakeholders are individuals or groups who have an interest in a business and/or are affected by its actions.

These stakeholders can have different requirements and expectations from the business, which must be taken into account when making decisions.

By understanding their stakeholders’ requirements, a business can make informed decisions that benefit all involved.

Below is the list of internal and external stakeholders we have identified for this business:

1. Customers: Customers are the primary stakeholders of 1847 Goedeker as they are the ones who purchase the products and services offered.

2. Employees: Employees are the second key stakeholders of 1847 Goedeker. They are responsible for the day-to-day operations and customer experience.

3. Suppliers: Suppliers provide 1847 Goedeker with the products and services necessary for the business to operate.

4. Investors: Investors are the third key stakeholders of 1847 Goedeker. They provide the financial resources necessary for the business to grow.

5. Government: The government is the fourth key stakeholder of 1847 Goedeker. The government provides the necessary regulations and laws to ensure the business operations are conducted legally and ethically.

6. Competitors: Competitors are the fifth key stakeholders of 1847 Goedeker. They provide the necessary competition which helps to keep prices competitive and services at

Value Proposition

A value proposition explains the unique value and/or benefits that an organisation provides to its customers, partners, stakeholders and the overall market. It outlines what makes a company like 1847 Goedeker different from its competitors, along with what it can offer that key competitors cannot.

A corporate value proposition can be used with the competitive advantages section of this report in order to better understand 1847 Goedeker and its position within the marketplace.

The value proposition for 1847 Goedeker is to provide high-quality, American-made wines at an affordable price.

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

Selection: 1847 Goedeker offers a wide selection of products in a variety of categories, including furniture, appliances, mattresses, home décor, and more.

Price: 1847 Goedeker provides competitive prices and offers regular discounts and promotions on many products.

Financing Options: 1847 Goedeker offers flexible financing options for customers, allowing them to purchase products with low monthly payments.

Customer Service: 1847 Goedeker has a dedicated customer service team that is available to answer any questions and help with issues.

Free Shipping: 1847 Goedeker offers free shipping on orders over $499, making it easier for customers to purchase products.

Customers & Cohorts

As part of this competitive intelligence study, we have identified the main customers of the organisation.

These include the following cohorts:

Residential customers
Commercial customers
Interior Designers
Home Builders
Property Managers
Contractors
Architects
Property Owners
Property Developers
Homeowners 1Renovators 1
Furniture Retailers 1
Hospitality Professionals 1
Restaurateurs 1
Educational Institutions 1
Government Agencies 1
Healthcare Facilities 1
Senior Living Communities 1
Military Bases 20. Real Estate Agents

Market Trends

Market trends can impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and affecting the organisation's ability to remain competitive in the market.

As part of this study, we have identified a number of potential short-term to medium-term trends that could impact the organisation. These include the following:

Increased Online Shopping: The growth of online shopping has made it possible for consumers to purchase items with greater convenience, and this trend is likely to continue. As more consumers become comfortable with online shopping, they may be more likely to purchase items from online retailers such as 1847 Goedeker.

Expansion of Mobile Shopping: Mobile shopping has seen significant growth in recent years, with more and more consumers using their phones and tablets to shop. This trend is likely to continue and could potentially benefit 1847 Goedeker. Mobile shoppers are often more price-conscious and may be drawn to the company’s competitive pricing.

Growing Interest in E-Commerce Platforms: E-commerce platforms like Shopify and Amazon have become increasingly popular, and this trend is likely to continue. These platforms provide a convenient and user-friendly way to shop, and this could increase the number of people who shop at 1847 Goedeker.

Growing Demand for Digital Products: Digital products such as streaming services and online courses have become increasingly popular, and this trend is likely to continue. 1847 Goedeker could potentially benefit from this trend by offering digital products in addition to its physical products. This could help the company reach a wider customer base.

Key Performance Indicators

Below is a list of KPI's that we have identified as being strategically relevant to this organisation:

Financials (BETA)

The key financials for 1847 Goedeker include income statements, which can be found in their annual reports. These financial statements provide information on the organisation's financial performance and health, including revenue, expenses, and profits. This information, along with other indicators are used by investors, analysts and other stakeholders to evaluate the company's performance and future prospects.

Where a financial does not match, we have included those of the parent company (if a listed entity). If the financials are missing please contact us and we will prioritise the update.

Key Personnel

Income Statement

Highlights

Top-level corporate stats and financial highlights for the listed entity, include:

Share Performance

Below is the current (EOD) share performance for the company, or its listed parent:

Potential Products/Services

As part of this study we have attempted to prognosticate potential products and/or services this organisation could develop in the short to medium-term.

Custom furniture design and installation services: 1847 Goedeker could offer custom furniture design and installation services to help customers find the perfect furniture for their home.

Interior design services: 1847 Goedeker could offer interior design services to help customers create a cohesive and stylish look within their home.

Home décor services: 1847 Goedeker could offer home décor services, such as wall art, rugs, and other accessories, to help customers personalise their living spaces.

Home staging services: 1847 Goedeker could offer home staging services to help customers prepare their homes for sale or rent.

Home delivery services: 1847 Goedeker could offer home delivery services to help customers receive their purchases quickly and conveniently.

Furniture repair services: 1847 Goedeker could offer furniture repair services to help customers maintain and extend the life of their furniture.

Potential Synergies

Using our product and portfolio-matching algorithm, we have determined that the following organisations have potential synergies with the company:

1. Lowe's
2. Home Depot
3. Ashley HomeStore
4. Williams-Sonoma
5. Crate & Barrel
6. Bed Bath & Beyond
7. IKEA
8. Wayfair
9. Target 10.Overstock

Porter's Five Forces

Created by Harvard Business School Professor Michael Porter in 1979, Porter's Five Forces model is designed to help analyse the particular attractiveness of an industry; evaluate investment options; and better assess the competitive environment.

The five forces are as follows:

Competitive rivalry
Supplier power
Buyer power
Threat of substitution
Threat of new entries

The Porters 5 forces are a framework for assessing the competitive forces in an industry. The 5 forces are:

1. Threat of new entrants

2. Bargaining power of buyers

3. Bargaining power of suppliers

4. Threat of substitutes

5. Intensity of competitive rivalry

In relation to 1847 Goedeker, the company scores as follows:

1. Threat of new entrants: LOW. There are HIGH barriers to entry in the appliance and furniture retail industry, such as the need for a large amount of capital to invest in inventory and store locations.

2. Bargaining power of buyers: MEDIUM. There are many alternatives available to consumers, but 1847 Goedeker has a loyal customer base.

3. Bargaining power of suppliers: MEDIUM. There are many suppliers in the market, but 1847 Goedeker has established relationships with key suppliers.

4. Threat of substitutes: MEDIUM. There are many substitutes available for furniture and appliances, but 1847 Goedeker has a strong brand and reputation.

5. Intensity of competitive rivalry: MEDIUM. There is intense competition in the appliance and furniture retail industry, but 1847 Goedeker has a strong market position.

PESTLE Analysis

This PESTLE analysis is a strategic planning tool that assesses key external factors affecting the organisation, including the following:

Political
Economic
Social
Technological
Legal
Environmental

Each of these factors is analysed to determine their impact on the organisations strategy, objectives, and operations.

By utilising a PESTLE analysis, the organisation can make better decisions and develop strategies to address potential risks and opportunities.

CATWOE Analysis

The CATWOE analysis is used to investigate each stakeholders perspectives in order to enable the business to make informed decisions.

The CATWOE analysis is a problem-solving tool consisting of six elements:

Customers
Actors
Transformation process
World view
Owners
Environmental constraints

We view the CATWOE as being most useful when used in conjunction with other problem-solving tools such as a SWOT analysis.

Customers: 1847 Goedeker customers are people looking to purchase furniture, appliances and mattresses. Customers are looking for quality products at an affordable price with customer service that exceeds expectations.

Actors: The main actors associated with 1847 Goedeker are the customers, employees, vendors and partners. Customers are the primary actors as they are the ones purchasing the products. Employees are responsible for providing customer service, managing orders and shipping products. Vendors and partners provide the products that are sold by 1847 Goedeker.

Transformation process: 1847 Goedeker's transformation process starts with the customers. Customers search for and select the products they want to purchase. 1847 Goedeker then processes the order and coordinates with vendors and partners to provide the products to the customers. Employees are responsible for managing orders, shipping products and providing customer service.

World view: 1847 Goedeker's world view is focused on providing customers with quality products at an affordable price with customer service that exceeds expectations. The company strives to be seen as a trusted source for furniture, appliances and mattresses.

Owners: 1847 Goedeker is owned by the Goedeker family. They are committed to providing the best customer service and products available.

Environmental constraints: 1847 Goedeker is subject to the laws and regulations of the countries in which they operate. They must also comply with industry standards and customer expectations. The company must also be mindful of the environmental impacts of their business operations.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the 1847 Goedeker business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

Strengths

Below is a list of the strengths we have identified for the business:

1. 1847 Goedeker has a strong operational and strategic strengths across the food and beverage industry.

2. The company has a long history of success, which has helped it to build a strong brand and credibility.

3. The company has a strong focus on innovation and R&D, which has helped it to stay ahead of the competition.

4. The company has a strong team of skilled employees who are able to deliver high quality products.

Opportunities

Below is a list of opportunities we have identified for the business:

1. Invest in digital marketing channels to capture more market share: 1847 Goedeker Inc. should focus on digital marketing channels such as search engine optimisation (SEO), online display ads, and influencer marketing to capture more market share. By investing in digital marketing channels, the company can reach a wider audience and drive more sales.

2. Leverage customer data to personalise marketing messages: 1847 Goedeker Inc. should leverage customer data to personalise marketing messages and provide tailored offers to customers. By using data to segment customers into different groups based on customer preferences and purchase behaviour, the company can create targeted marketing campaigns that will engage customers and boost sales.

3. Streamline operations to reduce costs: 1847 Goedeker Inc. should focus on streamlining operations to reduce costs. This includes exploring ways to automate processes, utilizing cloud-based solutions, and optimizing the supply chain. These efforts can help the company reduce expenses and increase efficiency.

4. Expand product offering to capture more customers: 1847 Goedeker Inc. should also expand its product offering to capture more customers. By offering a wider selection of products, the company can attract new customers while providing existing customers with more options. Additionally, the company should explore ways to diversify its product offering to cater to different customer needs.

Weaknesses

Below is a list of the weaknesses we have identified for the business:

1. Lack of focus on customer experience: 1847 Goedeker has been criticised for its lack of focus on customer experience, with some customers complaining about unresponsive customer service and a lack of transparency around pricing and product availability.

2. Lack of omnichannel presence: 1847 Goedeker does not have an omnichannel presence, meaning that it is not present on major online retail platforms like Amazon and eBay. This limits its ability to reach potential customers and sell its products.

3. Limited product selection: 1847 Goedeker offers a limited selection of products, which can be a turnoff for customers who are looking for a one-stop shop for their home furnishings needs.

4. High prices: 1847 Goedeker has been criticised for its high prices, which can deter customers who are looking for a bargain.

Threats

Below is a list of the threats we have identified for the business:

1. Increased competition from larger retail chains – 1847 Goedeker’s faces competition from larger retail chains, such as those that offer discounts, wider selection, and lower prices. This can put them at a disadvantage and make it difficult to compete.

2. Declining customer loyalty – With the rapid changes in technology, 1847 Goedeker’s must constantly stay ahead of the curve and remain relevant to their customers. This means that customer loyalty can decline if the company does not innovate and develop new products and services.

3. Economic downturns – Economic downturns can have a significant impact on 1847 Goedeker’s, as customers have less disposable income to spend on their products and services. This can result in a decline in sales and revenue, as customers become more frugal and look for deals.

4. Data security risks – Data security is a critical issue for 1847 Goedeker’s, as they store customer information, credit card information, and other sensitive data on their systems. As a result, they must ensure that their systems are secure and protected from potential breaches or cyber attacks.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.

This (concise) 5C analysis examines the external and internal environment for 1847 Goedeker. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to 1847 Goedeker, as well as areas where the company needs to improve its operations or strategy.

Company: 1847 Goedeker

Collaborators: 1847 Goedeker works with leading home appliance manufacturers, furniture makers, and home décor designers to bring customers the best products and prices. They also work with a variety of shipping companies to ensure their products arrive safely and on time.

Customers: 1847 Goedeker's customers are people who are looking for quality home appliances, furniture, and home décor products at reasonable prices. They offer a wide selection of products from top brands, with a focus on customer service and satisfaction.

Competitors: 1847 Goedeker's competitors include other online retailers that specialise in home appliances and furniture, as well as big box stores that offer similar products.

Content: 1847 Goedeker's website offers a wide selection of home appliances, furniture, and home décor products. They also provide customers with helpful buying guides, product reviews, and blog posts to help them make informed decisions when selecting products. Additionally, they offer helpful customer service and a 30-day satisfaction guarantee.

MOST Analysis

The MOST analysis framework is commonly used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. This analysis helps organisations to focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles that may arise along the way.

Mission
Objectives
Strategy
Tactics

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

As part of our research and analysis activity, the team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism.

First, we allocate a score of A-E for the industry vertical, gauged on the key organisations operating within the space; and then score the individual business using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant into the marketplace; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that in the view of the analysis team it lags behind notable businesses in terms of innovation and product pipeline.

Below is a guide to each score:

Industry score:

A	The industry is amongst the most innovative; with the leading players all driving the sector forward. Example industry: PaaS
B	The industry and its leading players have a good track record of innovation; and can quickly react to change. Example industry: Pharmaceutical
C	Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate. Example industry: FMCG
D	Businesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption. Example industry: Retail Banking
E	The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change. Example industry: Publishing

Company score:

1	The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2	The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3	The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4	The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5	The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.

The team at Platform Executive has judged 1847 Goedeker as having an innovation score of C2.

Appendices

The appendices section of this report contains supplementary information that the team at Platform Executive deems helpful in providing a more comprehensive understanding of the report's contents.

This information is not considered an essential part of the study but serves as a useful supplement to the main text.

Methodology

This study on 1847 Goedeker forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The information and data included are updated on a timely schedule to ensure that our Premium members receive the most up to date information .

The report is based on information and learning from the following sources:

Corporate websites
Proprietary research databases
SEC Filings
Corporate press releases
News articles
Financial data API's
Product-matching algorithm

Further Information

Premium members: If you cannot find the desired information or data set for the business you are researching then please reach out to our research and analysis team. We can tailor reports to meet your requiremnents, with a fast turnaround time.

If you require a bespoke study on a particular industry vertical, or marketplace we may also be able to help.

Disclaimer

Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

Changelog

Premium members: To request a priority update to this report, please contact us. Our standard turnaround time is normally 48 hours.

The changelog for this report can be found below, complete with the next scheduled update:

v1.1: Initial load of report
Date: 1st March 2023

Key Financials added (BETA)
Date: 17th March 2023

Next scheduled update: 23rd May 2023

Industry Keywords

Related keywords:

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