SWOT Analysis - Polar

Extract

[...] SWOT Analysis – Polar I. Introduction A. Polar The Polar group is part of the sector of sports watches and other connected objects, which have been very successful for several years now. The sector recorded a turnover of 18.7 billion euros at the start of 2020, with results which have increased considerably every year for almost five years. Among the connected objects, we find watches and other trackers, but also objects relating to home automation, which can improve the lifestyles of users. [...]

[...] It should also be noted that we live in a time when the sector of well- being and sport is very popular not only with doctors and specialists. The Internet is a real source of information for consumers who are very often looking for products that can help them improve their daily lives. These products, sold by groups like Polar, are based on the latest technology, and today's consumers, those coming from the latest generations, are ultra- connected, which makes these watches and other devices very trendy products. [...]

[...] Conclusion and strategic recommendations The Polar group, therefore, remains very popular with athletes, despite very strong competition. We talked about its strengths, certainly with notoriety, but also a relatively rich product line, which gives consumers a choice, both in features and in price. The fact that the products are sold in a very large number of stores and sites is also a strength, which ensures the quality and reliability of the products sold. However, the decline in purchasing power and the existence of substitute products bring some weakness to the brand. [...]

[...] We also talked about the addictive side of these products, highlighting the possible long-term health problems but also the degradation of human relationships in favour of all that is virtual. [...]

[...] SWOT Analysis of Polar A. Strengths The main strength of the brand is its reputation and positioning in the range of watches and other mobile sports devices. Unlike other competing products, Polar is more specialized in the sports sector, which gives it certain notoriety and further legitimacy. It also a wide range of products, priced from 60 to over 500 euros, depending on the case. Polar indeed markets sports watches, which for the most part have also been connected watches since 2014, but also activity bracelets, heart rate monitors and counters for bicycles. [...]