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Porters Five Forces Model for Fashion Retail Industry

   

Added on  2020-01-16

1 Pages1068 Words528 Views
In the early age, cultural aspects, learning languages and travelling challenges restricted (Capacci, Scorcu and Vici, 2015). In 14 century Christopher Columbus sailed westward and vasco da gama cruised to country for earn money then business travel has been integral part of tourism industry(Cave and Brown 2012).Early tourism started with Nomads who travelled around the world in search of foodand shelter. Main intension of this traveller is to gathered food and traded around the world and gave rise to the barter system (Capacci, Scorcu and Vici, 2015). 1500 BC is marked as the era when the Europeans visited pyramids and thus developed the tourism for pilgrimage. Early tourism started with Nomads who travelled around the world in search of food and shelter. Main intension of this traveller is to gathered food and traded around the world and gave rise to the barter system (Capacci, Scorcu and Vici, 2015). 1500 BC is marked as the era when the Europeans visited pyramids and thus developed the tourism for pilgrimage.Porters five forces model for fashion retail industry:New entrant’s threat: Fashion industry has very low chance of threat due to newentrants in the market. Capital need to enter in this sector is very high which isdeterring companies from entering. This sector always requires something newwhich is the biggest hurdle for companies. Present companies in this sector hasstrong brand name which is also a reason restricting firms to enter. Buyer’s power: Power of buyers is very high in this sector as they have plenty ofREFERENCESTurker, D. and Altuntas, C., 2014. Sustainablesupply chain management in the fast fashionindustry: An analysis of corporatereports.European Management Journal. 32. (5),pp.837-849.Pedersen, E. R .G. and Gwozdz, W., 2014.From resistance to opportunity-seeking:Strategic responses to institutional pressures forcorporate social responsibility in the Nordicfashion industry.Journal of business ethics.2.. ConclusionIt can be concluded from thereport Fashion industry of UK isgrowing ta faster rate andcompetition among the companies isvery high. INTRODUCTIONFashion industry is the most developed sector in UK. People are getting attracted to fashion due to variety offashion companies present in this sector. Present report describes about UK's fashion sectors and its companiesFASHION INDUSTRY

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