Project on Retail Theory and Practices
Added on 2020-06-06
10 Pages3255 Words25 Views
Retail Theory and Practice
Table of ContentsINTRODUCTION...........................................................................................................................1Introduction to Retail.......................................................................................................................1Introduction about company.......................................................................................................1Main Body.......................................................................................................................................2Key relevant changes in UK clothing fashion industry..............................................................2Strategies which need to implement for dealing changes ..........................................................3Recommendations regarding strategies improvement................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8
INTRODUCTIONRetail is a process of selling products and services to target individuals by crossing itfrom multiple channels of distribution for generating profit. It used to follow a supply chain inbetter and definite manner so that satisfied products used to deliver in better frame. This projectis all about retail theory and practices on River Island whom are one of a major retail company inUK. They provide high standard clothes products to their customers by analysing all new trends.This project will going to describe about the key relevant changes arise in the UK clothing sectorwhich need to understand by management so that better and effective strategies and tactics couldbe formulate (Bowen, 2016 ). Introduction to RetailRetail industry is one of the most seasoned area, this industry has developed at 5.5percent consistently. Number of changes are there which happen in this and influence itsdevelopment and rate of benefit. To make progress and development, it is exceptionally basic formaker and retailer of apparel to first look at the varieties happens in needs and in fashionpatterns. Significant employments in ventures related with fashion are in the retail offer ofapparel. Design market of United Kingdom is developing on non-stop premise since hugenumber of retailer move far from regular patterns and substantial reducing that have littleconnection to flighty figures.Introduction about companyRiver Island is one of a major company whom used to deal t various worldwide marketarea which was established in the year 1948 by Bernard Lewis. It is a private company whichused to owned by Lewis family and have headquarters in London. In 1993, management used toexpand them at new market area Ireland which enable and facilitate them an option to bringbetter and effective products to diverse range of customers as well (Chudik and Pesaran, 2016). River Island have 350 stores in the UK, Ireland, Asia, with 6 online websites operated in4 currencies with shipping over on 100 more countries. With expansion of business, managementused to determine the recent and current trends as well so that they could manage and expandoperations in better and determined manner. Till the year 2012, business do not have any store inSingapore but by 2013, online fashion company Zalora acting as a link between the River Islandand South east Asia. 1
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