Impact of Macro and Micro factors

RUNNING HEAD: GLOBAL BUSINESS ENVIRONMENT
GLOBAL BUSINESS ENVIRONMENT
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GLOBAL BUSINESS ENVIRONMENT1
Table of Contents
Introduction:....................................................................................................................................2
Impact of Macro and Micro factors:................................................................................................2
Micro factor analysis:..................................................................................................................2
Macro factor analysis:..................................................................................................................3
Conclusion:......................................................................................................................................4
References:......................................................................................................................................5

GLOBAL BUSINESS ENVIRONMENT2
Introduction:
Before investing in the retail fashion industry, conducting a market audit to get a clear
idea about the market is necessary. There are certain tools like SWOT analysis, PEST analysis,
Porter’s five forces analysis, which are useful to complete the market analysis.
Impact of Macro and Micro factors:
Micro factor analysis:
The products of the retail fashion industry contain clothing, footwear and accessories.
Fashion retailing is the business section which connects producers and consumers. Burberry,
Mark & Spencer, ASOS and Next Plc are the ruling this industry of UK. For the last seven years,
the market of retail fashion industry of the UK is growing. In 2020, the market value of this
industry is expected to be 66.6 billion euros (Sabanogl 2020). In 2018, the annual expenditure on
clothing, depending on the sales value, reached 58.3 billion euros (Sabanogl, 2020).
SWOT analysis of Retail fashion industry:
Strengths
(Positive
factors)
 The creativity of UK design for the retail fashion industry of the
UK.
 The variety of styles, products and designs on the high street is a
strength.
 The high-class education system is helpful to maintain the elite
quality design and product (Britishfashioncouncil.co.uk 2018).
 Specialist manufacturing of the UK is a strength.
 The innovation skill of retailers in the UK is excellent