Relevant Changes in UK Fashion Retail: A Case Study of Primark

Running Head: RETAIL THEORY AND PRACTICE
Retail Practice Theory
Name of the Student
Name of the University
Author Note

1RETAIL THEORY AND PRACTICE
Table of Contents
Introduction to Retail.......................................................................................................................2
Discussion........................................................................................................................................2
Introduction to the Company...................................................................................................2
Relevant change in the UK fashion retail................................................................................3
Relevant change in the micro-environment.............................................................................7
Strategies which could be used................................................................................................9
Recommendation...........................................................................................................................11
Conclusion.....................................................................................................................................11
Reference.......................................................................................................................................12

2RETAIL THEORY AND PRACTICE
Introduction to Retail
Retailing can be referred to as a convincing, convenient and comfortable method of
selling the products or services. The retailing is as old as the business, commerce and trade.
Nowadays, it has taken many shapes and forms. It has happened because the new management
techniques, the techniques of marketing and at the same time the consumer psychology is
changing up to greater extent (Thompson and McLarney 2017). Retailing can also be taken as a
part of the e-commerce where both the selling and buying occur along with the customer service.
The retail marketing is going through huge change and restructuring. It is because of the increase
in the gross domestic product, per capita income and the heightened power of purchasing
(Rashid and Barnes 2017). In the fashion industry, the fashion retailing encompasses the process
of manufacturing the clothes and selling them to the customers. The present report will identify
the key relevant changes in the UK fashion clothing market. It will also discuss and suggest
strategies and tactics which could be used by the Primark fashion retailer in order to respond to
the major changes happening in the fashion market.
Discussion
Introduction to the Company
Primark is an Irish fast fashion retailer which is headquartered in Dublin It is the
subsidiary of ABF. The first store of the company was founded in the year 1969 by Arthur Ryan
on the behalf of the Weston family. Primark is knowns as Penneys in the Republic of Ireland.
The fashion retailer offers an extensive range of products such as the clothing of the newborn

3RETAIL THEORY AND PRACTICE
child, the women’s wear, accessories, home ware, footwear, beauty products and even
confectionery. In the year 2014, the company has welcomed the Sephora products. The
company has also started selling the vegan products since January 2018. It also sells the clothes
at average price. Primark contributes to the fast fashion trends like Zara and H & M. It has been
found that most of the shoppers in the UK, prefer Primark for the amazing collection of clothes
at amazing prices. It deals in the fast fashion industry and forces the consumers to buy more
products. The consumers get driven by the exclusive collection and come back again and again
for trying out the new ones. The company now owns almost 350 stores. The largest store among
the others is located in Market Street, Manchester, England. It has occupied almost 155,000 sq ft
space. It mainly deals in the countries such as Belgium, Austria, Italy, Germany, Spain, United
States, Portugal, Ireland and many others. The CEO of the company is Paul Marchant and John
Lyttle is the COO of the company. There are almost 70,000 employees working in the company
and the revenue of the company is $ 5.949 billion as per the reports of 2017.
Relevant change in the UK fashion retail
The year 2016 was a year of major change in the UK fashion retail industry. The major
change was the Brexit. It disturbed the fashion industry up to greater extent. However, after
passing of the year, the fashion industry of the UK is trying to conduct a good comeback.
Through the past years, the fashion industry has been one of the fastest growing industry with 5.5
% growth rate. The fashion industry of UK ranked as the 5th largest economy in the whole world.
Moreover, the consumer taste has also changed the world of fashion (Pedersen and Netter 2015).
The application of the technology is playing a major role in leaving influence on the taste of the
consumers. It is because of the luxury brands in the fast fashion industry. The PESTEL analysis
would be useful for analyzing the changes in the UK retail fashion industry.