Reail Theory and Practice

RETAIL THEORY AND PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................3
INTRODUCTION TO MARKS AND SPENCERS.......................................................................3
MACRO FACTORS THAT AFFCTING FASHION INDUSTRY................................................4
MICRO ENVIRONMENTAL ASPECTS ......................................................................................7
DIFFERENT STRATEGIES AND TACTICS USED IN RETAIL SECTORS:............................8
RECOMMENDATION.................................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
The basic concept of retail in market is dealing in buying or selling of goods or services.
As they involves the direct connection with the customer and than accordingly the strategies are
made in respect of fulfilling their needs and wants in better way. The structure of retail sectors is
to buy goods from the manufactures and than sell it to consumer, through the aspects of
increasing sales in business (Ko, Phau and Aiello, 2016). In respect of determining the matter
related to retail industry in context of fashion, it is undertaken on the bases of buying or
designing the clothes from the manufacture and than selling it to customer by fulfilling their
needs and wants in better way. Fashion retain sectors use various procedure to build the large
customer base such as organising fashion shows, any charity function to attract customer interest
or also promoting business through using reusable products to deign innovative and attractive
clothing.
INTRODUCTION TO MARKS AND SPENCERS
In respect of undertaking the matter related to fashion retail sectors, Marks and Spencers
carry the renowned brand name in the global market,. As people are attracted towards the
services which is provided by them in respect of designing such products which attract their
interest towards such services for longer time period. The concept of M&S are founded by
Michael marks and Thomas Spencer in 1884. the main business or headquarters is located in
London and they carry the operation work in many places (Baker and Saren, eds., 2016). They
are engaged with around 80,787 employees carrying the business at global level and also
reaching to customer towards building the strong base with them. M&S are located in around
1463 places and also currently it is examined that in UK they engaged their business in around
959 stores including 615 stores which is mainly based on food related products. In respect of
clothing division they deal in around 11% market share in UK. The mission which is carried by
M&S is relating to building strong base among customer in respect of maintaining values,
quality services or innovation in existing products or bringing new products in market.
In context of determining the position of M&S in market, they mainly carry the premium
pricing methods in which they carry the pricing high by providing the quality products to their
customer (Rocamora, 2017). This help them in building the sustain position in market by
reaching to large customer through promoting the products in market.

MACRO FACTORS THAT AFFCTING FASHION INDUSTRY
Macro factors are such factors which affecting the working of the industry by
undertaking the external aspects such as:
Factors Aspects Fashion industry Marks and Spencers
company
Political Government taxes In this the impact
arises in respect of
motivating people to
prefer the fabrics from
own country in respect
of charging or
imposing higher taxes
in respect of import of
goods.
In respect of positive
impact which arises
from taxes is related to
undertaking free trade
procedure in respect of
expanding the business
or dealing in various
countries globally
(Marks and Spencer
SWOT and PESTLE
analysis, 2019).
In context of negative
aspects, it resulting in
facing issue at the time
of Brexit. As there is
loss of free trade
polices which resulting
in increasing the cost
of production with less
demands in market.
Economic Fluctuation in interest
rate
In context of fashion
industry, the
fluctuation arises in
respect of changes in
global economy in
In this aspects, the
economic factors
which is relating to
undertaking the
premium pricing