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Retail practice and Theory Assignment

   

Added on  2021-02-19

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Retail practice andTheory
Retail practice and Theory Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1Introduction to the organisation or company..............................................................................1Changes that occurs in UK fashion retail....................................................................................1Changes that occur within micro environment of organisation..................................................3Strategies and theories that is used by organisation....................................................................4Recommendation for H&M........................................................................................................6CONCLUSION................................................................................................................................6REFERENCES...............................................................................................................................8
Retail practice and Theory Assignment_2
INTRODUCTIONRetail can be defined as small business that offer and sale goods or services to anindividual in small quantity. This transaction takes place through different types of channels likeonline and offline. Moreover it is identified as a sale that ensures the purchaser is the end user ofproduct or service. Fashion retail is the combination of several clothes that is related with asupply chain that start from manufactures and end at the consumer. The main agenda behindfashion industry is to offer different fashion goods and services that are developed according tothe trend and market conditions (Stewart and Shamdasani, 2014). It is a type of retailing thatundertakes the sale of clothes, apparel and accessories that enhance the personality of anindividual. Introduction to the organisation or companyHennes & Mauritz is a multi-national retail clothing organisation that offers fashionableclothes for men, teenager, women and children. They are operating their business in more than62 countries with a number of 4500 stores. H&M is the second largest retail organisation thatoperates their business in global world. In order to provide their products at global level theymake presence of their products online as well as offline method that help them to deliver theirproducts to all types of people. It was founded in the year 1947 with a small store that particularoffer women clothing. It headquarter is situated in Sweden while it first international store wasestablished in London in the year 1976. This results that company expand themselves in overallEurope and in the year 1998 they started their online operations in order to satisfy needs ofcustomers. In the year 2007 organisation started to operate their business on individuals basesthat helps to increase their market share. This results that they are able to measure their profitsfor each unit. Further to develop it in more effective way H&M collaborated with more than 900independent suppliers that helps them to deliver their product across their physical boundaries. Changes that occurs in UK fashion retailIn UK there approximately 5000 small and large organisation are successfully operatingtheir business in fashion industry from more than one decade (Sorescu and et. al., 2011). Itgoverns that they are able to formulate their clothes according to the market conditions by whichthey are also set clothing trends in organisation such as M&S, Zara, Gucci, H&M etc. As 2018was a difficult year for UK because there are several changes are seen in industry due to which1
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