Changes in UK Fashion Retail: Next Plc Case Study

Report

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Introduction to the organisation...................................................................................................1
Key relevant changes within UK fashion retail...........................................................................2
Relevant changes within micro environment...............................................................................4
Strategies and tactics that could be used......................................................................................5
Recommendations........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Retail is a concept or procedure to sell consumer commodities to customers by using
multiple distribution channels for earning revenues (Baker and Saren, 2016). It is all about
displaying commodities, illustrating features as well as benefits of commodities, processing
payments addition to stocking products in order to get accurate product at right price at right time
to right consumer. Similarly, fashion retail is characterised to consumer goods market which
primarily emphasis on clothing, accessories as well as footwear. Fashion retailers are generally
specialised in emerging trends with such sector, gains insights from retail business as well as
inspires conversation with individuals working within Fashion Retail Industry. The market
within such retailing is fast moving as well as changes rapidly due to emerging trends such as
social shopping, instant fashion recognition, exhibitions for sale and many more. To gain
information about fashion retail, Next Plc is selected which is one of company working within
fashion retail industry. The report covers information about company, changes in fashion retail
of UK, changes within micro environment, tactics to be used and recommendations for meeting
challenges.
MAIN BODY
Introduction to the organisation
Next Plc is considered as fast fashion retailer having headquarters at Leicestershire, UK
since 1864. the company has approximate 700 stores, out of which circa 500 are within UK and
rest circa 200 are across Europe, Middle east as well as Asia. It is largest clothing retailer in
terms if sales volume. At present, the entity trades online with more than 70 nations worldwide.
Along with this, company has opened 546 small stores and various large stores along with
employs more than 43900 people at different locations. The company is specialised in retailing
footwear, clothing together with home products (Next Plc. 2019). The objective of the company
is to offer quality accessories, furnishings along with fashionable clothing at good price. Next
Plc operates within five divisions, one is high street shops, second is mail order division that
involves e commerce platform, third is retail outlets through franchise agreements, fourth is
financial service division and last is telecommunication software services as well as property
management. In addition, Next Plc is also considered as an online as well as catalogue shopping
business having around 4 million active customers addition to international websites that serves
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