Impact of Globalization on Fashion Retail Industry
Added on 2020-10-22
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Table of ContentsCHAPTER 2: LITERATURE REVIEW.........................................................................................12.1 Introduction...........................................................................................................................12.2 Literature Review..................................................................................................................1CHAPTER 3: METHODOLOGY...................................................................................................53.1 Research Approach...............................................................................................................53.2 Methodologies.......................................................................................................................5CHAPTER 4: DATA COLLECTION AND ANALYSIS .............................................................74.1 Data Collection......................................................................................................................74.2 Data analysis, presentation and discussion...........................................................................7CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS ................................................205.1 Conclusion...........................................................................................................................205.2 Recommendations...............................................................................................................20CHAPTER 6: PERSONAL REFLECTIVE STATEMENT..........................................................216.1 Reflect on the research methods used in project.................................................................216.2 Consider research methods that could have been used.......................................................216.3 Areas for further research (or consideration)......................................................................21REFERENCES..............................................................................................................................22APPENDICES...............................................................................................................................23
CHAPTER 2: LITERATURE REVIEW2.1 IntroductionLiterature review refers to comprehensive summary of the previous investigation onspecific research topic. It is scholarly paper that consists current knowledge consisting themethodological contribution and findings related to specific research area. The different sourcesof collecting secondary information are books, journals, articles etc.2.2 Literature ReviewPositive economic, cultural and ethical benefits of globalisationOn the basis of opinion of BEVERLY BIRD AND CAROL KOPP (2019) it has beenstated that Globalisation is based on expansion of the trading activities of any organisation acrossthe boundaries of the nation. In the last decades, it has become the considering point in anybusiness. It leads to have vital impacts in the activities of everything such as environment,information, technology, knowledge, society, culture, economy, ethics and many more. All theentities responds accordingly. A globalized business responds to all the situations by properlyunderstanding the economic, cultural and ethical circumstances and results in a positive as wellas negative manner. The positive economic benefits of globalisation includes spreading of theinnovative usage of available technologies and adoption of new technologies from differentcountries foe making the economy more productive. It helped firms to enhance intensity ofresearch and development for competing with the rivals and generating more outputs. Suchconcept benefited developing economies by reducing inflation rates and providing consumersaffordable products for increasing standard of livings and increasing their real wage incomes. Itcreated various employment opportunities through the procedures involved in imports as well asexports. The cultural benefits of globalisation includes the diversification of organisationaloperations to understanding different cultures of different countries. Globalisation benefited between interconnection of the cultures for the purpose ofaccelerating the contacts by performing trading tasks. Culture mixing are the enrichment ofhuman spirits as well as source of innovation which leads to increase more prosperity. It helpsevaluating and shaping the identity for influencing behaviours. Such concept benefits byunderstanding, recognising and respecting the cultures of various nations. Ethics are used fordefining what is correct and what is incorrect. It helps in examining the ethical principles to be1
followed by conducting trade activities with another countries. It benefits by inculcating thevalues within business for the purpose of performing the tasks of a firm responsibly. It improvesthe management credibility for bringing leaderships and organisational members together. It actsfor the enterprises to remain in competition and earn more results by sustaining the financial aswell as economic perspectives. Various ethical code of conducts are governed to benefit thecountries.Effect of globalisation in the fast fashion brands industryOn the basis of opinion of Fredrik Erixon (2019), it has been stated that Globalisation hasbecame so popular in the last decades as its effects are experienced in almost all industries andsectors. In relation to fast fashion brand industry, there are several brands such as H&M, Zara,Gucci, Louis Vuitton and many more who are focusing of tapping to new market for the purposeof expansion of the business. As the economy is changing and growing, the brands are alsolooking for diversification. There are several companies who merges with another companies atdifferent countries to produce the products at lower cost and satisfy the demand of targettedmarket group. For example, Zara SA is a globalized retailer from Galicia who is popular forproviding fast fashion clothes for all age groups of men and women. It adopted the expansionstrategy for establishing its stores worldwide to satisfy the needs of its targetted segment. Themanagers of such company are focusing on market potentiality, purchasing power with nopolitical risks for their growth. With the helps of globalisation, the brand is successful inoperating its stores in multiple countries. Such concept is helpful in informing and updatingpeople about the recent trends in the respective industry through the usage of promotionaltechniques. Thus, to gather the information about the cultural assimilation in different countriesis the effect of globalisation in fashion brand industry.Secondary and primary data in regard to the positives effects of globalisation on ZaraPrimary data is the data which is collected for the first time by the researcher for theirown purposes. Such information collected is original, up to the mark and relevant to the topic.Some of the methods includes surveys, interviews, questionnaires. With the use of questionnaire,the primary data to analyse the positive effects of globalisation on Zara SA is collected. Furtherit has been examined that the globalisation benefited the respective brand in many ways. Itbenefits to access to new market, integration with multiple supple chains, speedily performingcomplex tasks. The globalisation helped the brand to adopt the artificial intelligence machines to2
perform the complex and daily routines tasks for eliminating errors. It further helped theorganisation to make its business management easier and efficient by adoption of technologies,communication channels, transportation and trade regulations. As per opinion of Alison Wolf (2016),Secondary data is the data which is alreadycollected by other researcher. These are the cost effective data but lacks accuracy. Such data ishelpful in understanding the problems in better manner and makes primary data more specific.With the usage of such data, gaps as well as deficiencies are understood for collection ofadditional information. Sources of secondary data are websites, books, Journals and many more.With the use of the websites, secondary data for analysing the positive effects of globalisation onZara SA is collected. In addition, it has been examined that globalisation helped the brand tounderstand the consumer perceptions as well as informing consumers about the latest fashionproducts. Globalisation helped the brand to integrate with the diversified cultures across theboundaries of nation. It has been examined that the brand is successful in changing its practicesas per the legislations governed by the country in which it is performing its operations. With thehelp of globalisation, it has became the world famous brand al over the world. Effect of globalisation at Zara SA and the boarder fast fashion brand industryThe time from when the globalisation procedure has started, various changes has beenanalysed in the fast fashion clothing industry. The effects of globalisation leads to develop thecommunication plans and supply chain management at Zara SA effectively.According to opinion of Kelsey White (2019), it has been stated that brand is successfulin performing its operations across the nations full full potentiality by considering thelegislations of different nations. The effect leads to understand the perception of market as wellas consumers towards the organisational products or services. It evolved due to the industrialrevolution. It helps the entity to grow continually and improve its working. It created enormousopportunities as well as usage of new and up to date technologies. The fashion brand industry issuccessful in building good relationships with distinct other industries around them. The Zara SAis successful in opening its stores in the developing countries. The managers of the Zara Sa andother organisations in fast fashion brand industry are now able to understand the need, demandsof their customers and keep the updated about the products by providing information throughpromotional methods. By looking at the latest trends it has been examined that the brands arefocusing on providing quality clothing at reasonable prices to attract and retain the customers for3
longer period of time. The brands changed the customers standard of living. Thus, theglobalisation played important role in developing a market and provided free trade opportunitiesto Zara Sa as well as other fast fashion brands to promote their business across the boundaries oftheir own country and developing the economy of various developing nations. 4
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