Retail Theory and Practice - Zara
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Added on 2020-10-22
Retail Theory and Practice - Zara
Added on 2020-10-22
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Retail Theory andPractice
Table of ContentsINTRODUCTION...........................................................................................................................1Introduction to Company .........................................................................................................1Key relevant changes within the UK fashion retail....................................................................2Relevant Changes in Micro environment....................................................................................3Strategies and Tactics in Adapting Changes...............................................................................4RECOMMENDATIONS ...........................................................................................................7CONCLUSION................................................................................................................................7.........................................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTION Retail is the process of selling consumer goods or services to the individuals throughmultiple channels of distribution in order to earn profit. In general, it is an activity or a process ofselling goods to the public, usually in small quantities (Bowen, 2016). Retailers satisfies theneeds and wants of consumers by providing them goods through the use of well establishedsupply chain. Hence retail is the process of selling consumer goods or services through multiplechannels of distribution. Retail process is concerned with collection of goods from manufacturerin huge quantities and supplying to consumers in small lots. Fashion Retail industry is the groupof companies that goes from the manufacturer to the consumers and offers them the fashionablegoods. It mainly deals in fashion accessories and products. Chosen company under the report isZARA. It is the world’s largest apparel retailer and has its own brands such as Zara home,Oysho, Pull and Bear and many more. Report will focus on how the fashion retailer company hasadopted to recent changes in its products by identifying relevant micro and macro environment.It has also discussed various strategies and tactics that the fashion retailer company can use inorder to cope up with changes. At last recommendations are discussed that the retailers can useto meet the challenges. In order to cope up with such competitive challenges company can startpromoting its products in order to create much awareness about its brands.Introduction to Company Zara is a Spanish fast fashion clothing and accessories branded company which makeshigh quality products at an affordable price to the customer. Its target market includes men andwomen between 18 to 40 years of age which provides fashionable clothes and accessories to theindividuals who are highly trend conscious. Company was founded in 1975 by Amanico Ortegaand Rosalia Mera. It is the world's largest apparel retailer has around 7, 475 stores all over theworld. It has a good presence of stores throughout the world targeting more customer base. Ithas its operations in UK, Italy, Germany, France including India and many more. In order toexpand its market share. Company has added more 51 stores in UK, having Spain as the biggestmarket with 563 stores (Brigham and Ehrhardt, 2013). Its first store was opened in Spain and thecompany uses geographic, demographic and psycho graphic behaviour of the customers whilemaking products. For surviving in ever fast changing environment company has adopted torecent changes by analysing the macro environment as well as micro environment in order to1
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