Retail Theory and Practice

Retail Theory and Practice

Table of Contents
INTRODUCTION...........................................................................................................................1
OVERVIEW OF COMPANY.........................................................................................................1
KEY RELEVANT CHANGES WITHIN THE UK FASHION RETAIL.......................................2
PESTLE Analysis........................................................................................................................2
RELEVANT CHANGES WITHIN THE MICRO ENVIRONMENT............................................3
DISCUSS STRATEGIES AND TACTICS.....................................................................................5
RECOMMENDATIONS.................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Retailing is the significant commercial activity which is useful for the customers as it
provide suitable opportunities in order to buy products and services from various types of
bourgeois. In addition to this, retailers purchase products and services from the middleman who
is termed as the wholesaler and retailer and they repackage these products for the easier
distribution and marketing (Ko, Phau and Aiello, 2016). Besides from this, retailers are
considered as the last stage of the supply chain before the product end up in the shopping cart.
Along with this, it is considered as the procedure in which goods and services are provided to
customers with the help of multiple channel of distribution in terms of earning more profit.
Retailers are the one who leads to satisfy the demands and requirements of customers with the
help of supply chain. In order to carry forward this report Next PLC is considered which is a
British multinational clothing, home and footwear retailer, headquarter in Enderby and it also has
around 700 stores across the world. Along with this report is going to cover the impact of macro
environmental factors on the fashion retail and also apply prominent theories and concepts.
OVERVIEW OF COMPANY
Next PLC is one of the biggest fashion retailer in UK and it deals in both men and
women clothing and housing products. Along with this, it is established in 1981 and now it has
approximately 700 stores across the world including, UK, Europe, Asia and Middle East. Along
with this it is founded by Joseph Hepworth in Leeds in 1864 and also started in the partnership
with James Rhodes but due to some reasons partnership gets dissolved in 1872. After many years
company has various competitors that forces the company in order to adopt relevant approaches
and achieve competitive advantage for company. Away with this, for the better improvement
regarding the adverse effects in order to decrease the retail sales and for this, company use
flexible operations and cost that leads to increase the growth opportunities for company. Along
with this, Next PLC also focuses on the constant experimentation and do many innovation in
their products in order to preserve from the integrity of the brand. Moreover, Next has three
prominent channels that are Next retail which is a chain of 550 and more retail branches in UK,
Next Directory which is home shopping catalogue and website which is more than 3 million
potential customers and Next international that has 180 more international stores. Despite from
this, in September 2018 company has Irish operations profits that gets separated from Next PLC.
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