Retail Theory and Practice: Analysis of Next Fashion Retail

Running head: RETAIL THEORY AND PRACTICE
Retail Theory and Practice
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1RETAIL THEORY AND PRACTICE
Executive Summary:
The report gives an overview of retail theory and practice of one of United Kingdom (UK)’s
largest fashion retail brand, Next. The report commences with a brief description about the
company. There is also a PESTEL done that helps in identifying the changes in the retail fashion
industry. The report also gives an insight into the SWOT analysis that helps in identifying the
changes in the micro environment of the retail fashion industry. The report also discusses about
the strategies and tactics adopted by the company in overcoming the challenges. The report also
puts forward further recommendations for the company in overcoming the challenges.

2RETAIL THEORY AND PRACTICE
Table of Contents
Introduction......................................................................................................................................3
About the Company.........................................................................................................................3
PESTEL Analysis for Identifying Changes in Next Fashion Retail................................................4
SWOT Analysis for Identifying Changes within Micro Environment............................................6
Strategies and Tactics Used.............................................................................................................8
Recommendations..........................................................................................................................10
Conclusion.....................................................................................................................................10
References:....................................................................................................................................10

3RETAIL THEORY AND PRACTICE
Introduction
The report is a discussion on retail theory and practice of Next, the fashion retailer of
United Kingdom UK (Next.co.uk 2018). Next represents the British multinational clothing,
home product and footwear retailer with headquarters in Enderby, Leicestershire. The concept of
retail explains the sale of the goods to the public in comparatively smaller quantities particularly
for consumption or use instead of resale. The retailers are believed to satisfy their demands
through the supply chain. Fashion retail on the other hand represents a kind of retailing that
includes the sale of clothing, accessories and apparel. The report gives an overview of the
fashion retailer Next in terms of position and size. There is also identification of the relevant
changes in the macro environment through conducting a PESTEL analysis. The report also helps
in identifying the microenvironment through a SWOT analysis. There is also discussion on the
strategies and tactics adopted by the retailer for overcoming the biggest influence based on the
macro and microanalysis. The report also puts forward recommendations on how the retailers
could be meeting the challenges.
About the Company
Next, is one of the largest fashion retailers of UK dealing with clothing, home products
and footwear and has headquarters in Enderby, Leicestershire. There are 700 stores of Next, 500
of which find their location in United Kingdom and Ireland and around 200 stores are located in
Europe, Asia and the Middle East (Nextplc.co.uk/about-next/at-a-glance 2018). Next has also
overtaken Marks and Spencer in the early 2012 and 2014. The company also finds a listing on
the London Stock Exchange (LSE) and is part of the Financial Times Stock Exchange (FTSE)
100 index. Next