SWOT Analysis – Jamuna Future Park

SWOT Analysis – Jamuna Future Park

Development and Detail of the Shopping Mall

Jamuna Future Park, a shopping mall, is situated in Dhaka. JFP is a huge investment from Jamuna Group of Industries. Nurul Islam Babul is the chairman of the Group. It is a subsidiary of the Jamuna. The construction started in 2002, by Jamuna Builders Ltd., a subsidiary of the Jamuna Group. The exterior was completed in 2008. It is the largest shopping mall in Bangladesh and the largest shopping mall in South Asia with a gross leasable area of 1,614,586 square feet. It is also the 4th largest shopping mall in the whole world.

The complex is spread across 33 acres of land in Kuril, Baridhara, situated on the Pragati Sharani, neighboring posh residential areas of Dhaka city like Gulshan, Banani, and Bashundhara. It is relatively close to Shahjalal International Airport, offices of multinational companies, major embassies, and other offices.

It was opened on 6 September 2013. Currently, there are around 510 shops in JFP [1]. The shopping mall has seven floors distributed to car parking, Shops, Restaurants, Movie theaters, Bowling alley, supermarket, hypermarket, Gymnasium, Health club, Swimming pool etc. It has an amusement park in front of its giant structure. There are six exciting rides like Roller coaster and Magic Carpet.

|| Learn & Conduct SWOT Analysis!

The shopping mall is centrally air-conditioned, has seven floors, and equipped with its own 45 MW power plant.

swot analysis of jamuna future park

SWOT of JFP at a Glance

Strength

Weakness

  • largest mall in the South Asia
  • accommodates 510 retail stores
  • Exterior and Interior decoration.
  • Differentiation with Carnival
  • Large cinema theater ‘Blockbuster’
  • Enjoyable recreation center
  • POS- point of sales in shops
  • stands 7.5 magnitude earthquake

 

  • Not enough retail customers
  • Not enough vendors
  • Expensive price range
  • Large distance from the city center.
  •  No unique products, not differentiated.
  • Difficulties in transportation
  • Lack of products with reasonable price.
  • Does not provide discount cards
  • Store rent is 250 taka per square(Expensive)

Opportunities

Threats

  • Attracting international
  • Development of surrounding areas causing population to move into these newly developed
  • Traffic flow from Basundhara R/A
  • 300 feet road will add traffic flow.
  • The metro rail [DU to Uttara] will facilitate the transportation
  • Opportunities to use historical data acquired by token sales in food courts.

 

  • Political instability in the country
  • Low importance on customer retention.
  • Technological malfunction
  •  Growing number of E-Commercial sites.
  • Major Brands are thinking of going online
  • Growing number of super markets.

SWOT Analysis – Jamuna Future Park

 

In this case of SWOT analysis of Jamuna Future Park we have to conduct both the internal analysis that means the strength and weakness of Jamuna Future Park featuring their resources, capabilities and competencies and the external analysis which means how Jamuna Future Park is going to pursue its mission with various opportunities and threats in the business environment.

|| What are Internal & External Analysis of a Company?

Internal Analysis:

Strength

  • It is the largest mall of its type in the South Asia region and 4th largest in the whole world.
  • It has vast space to accommodate 510 retail stores.
  • International standardization with lucrative exterior and interior decoration.
  • Differentiation with Carnival and currently hotel construction in front of the mall within the mall’s boundaries.
  • Large Cinema Theater called ‘Blockbusters’. It adds a major share in the mall’s total revenue.
  • It has an enjoyable large recreation center for all demography of customers.
  • The Point of sales (POS) – It has in most of the shops which facilitate customers to pay the money instantly using their debit cards etc.
  • It withstands 7.5 magnitude earthquake

Weakness

  • Not enough retail customers comparing to the mall’s size and number of stores.
  • Not enough vendors to rent shops
  • Expensive price range in retail stores, thus influencing customers to be reluctant to do shopping.
  • Large distance from the city center. People do not want to travel long distance most of the time, therefore they make purchase from the near market
  • No unique products, not differentiated. People find same products in near places, so they are reluctant to come.
  • Difficulties in transportation, Eg. traffic jam
  • Lack of products with reasonable price. Bangladesh is a low-middle income country. [2] Only 7% people are middle income family. [3]
  • Does not provide discount cards to its direct or indirect customers
  • Store rent is 250 taka per square feet which is expensive comparing to Bashundahra city (150 per sq feet) or other shopping malls in the same city.

External Analysis:

Opportunities

  • Firstly, attracting international brands to open up retail stores will bring product variety.
  • Secondly, development of surrounding areas causing population to move into these newly developed areas raising the chance of large number of customer in the very near future.
  • Thirdly, traffic flow from Basundhara RA
  • Fourthly, if the 300 feet road becomes strongly functional, it will add traffic flow.
  • Fifthly, the metro rail [DU to Uttara] will facilitate the transportation [4]
  • Finally, opportunities to use historical data acquired by token sales in food courts.

Threats

  • Political instability of the country
  • Low-importance on customer retention.
  • The technological malfunction in Carnival. An accident took place couples of months ago where few people were stuck on a ride. As JMP authority did not have strong rescuer team, the people were stuck for few hours there. It created panic onward. The panic still exists.
  • Growing number of E-Commercial sites. It may decrease the sales.
  • Major Brands [Unilever BD] are thinking of going online and make a home delivery.
  • Growing a number of super markets. Currently, it has 121 super shops. This industry is expected to grow by almost 15 times its current size by 2021. It can decrease the sales of many items in the shopping mall. [5]

 

References

  1. https://en.wikipedia.org/wiki/Jamuna_Future_Park
  2. http://www.dmtc.org.bd/about/MRT-Line-6-Route-Map
  3. https://www.bcgperspectives.com/content/articles/center-customer-insight-go-to-market-strategy-bangladesh-surging-consumer-market/
  4. http://www.dmtc.org.bd/about/MRT-Line-6-Route-Map
  5. http://www.lightcastlebd.com/blog/2015/02/market-insight-supermarket-industry-bangladesh

 

Jamuna Future Park Front



You may also like: 

 


 

faizul

Sheikh Faizul Haque, the founder of GotAbout, graduated from North South University, Bangladesh. His major was Finance and Accounting. Faizul has been writing in business blogs since 2013, also has a strong interest in Behavioral Finance, Risk Management, and Portfolio Management.