TOMS Shoes Sustaining Competitive Advantage through Social Impact
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Course
TECHNOLOGY 2021
Institution
Alexandria State University
TOMS Shoes is a well-known footwear company that has successfully sustained a competitive advantage through its unique approach to social impact. Founded in 2006 by Blake Mycoskie, TOMS is based on a "One for One" business model, where for every pair of shoes sold, the company donates a pair of sho...
TOMS Shoes: Sustaining Competitive Advantage through Social Impact
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TOMS Shoes: Sustaining Competitive Advantage through Social Impact
Impact of External Environment on TOMS Shoes
Sociocultural Factors: As society becomes increasingly socially conscious, TOMS' "One
for One" model matches consumers' rising affinity for firms that give back. Millennials and Gen
Z, who appreciate purpose-driven businesses, resonate most (Lindström, 2018). Economic
Factors: Economic changes affect consumer behavior and TOMS' revenue. Consumers may cut
spending during recessions, reducing shoe purchases. To overcome this difficulty, TOMS needs a
flexible pricing approach that balances affordability with philanthropy. TOMS may maintain its
objective while meeting clients' financial restraints by offering alternative pricing or special
discounts during bad economic times.
Technological Factors: E-commerce and digital platforms give TOMS great opportunities
to expand its audience. Online channels allow the organization to reach new markets globally
(Lindström, 2018). Competitive Factors: TOMS pioneered the altruistic business model, but
competitors may copy or adapt it.
Major Competitors
Warby Parker: With their "Buy a Pair, give a Pair" approach, Warby Parker appeals to
socially concerned shoppers with attractive eyewear. Warby Parker's eyeglasses focus
distinguishes them from TOMS, meeting a unique demand. Allbirds: Sustainable footwear brand
Allbirds stresses comfort and eco-friendliness to attract eco-conscious customers. TOMS must
use their philanthropy to stand out from Allbirds' eco-friendly items (Caldwell & Akintunde,
2020). Both brands attract sustainable consumers, but Allbirds' focus on materials and comfort
rivals TOMS' comprehensive approach. Bombas: The socks company addresses homelessness
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