Retail Theory and Practices

Retail Theory and Practices

TABLE OF CONTENTS
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Overview......................................................................................................................................1
Key relevant changes with the UK fashion retail........................................................................2
Strategies and tactics used by the retailer to respond the change................................................5
RECCOMENDATION....................................................................................................................6
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................8

INTRODUCTION
Retail is an activity of selling goods directly to the consumers in the small quantity for
their consumption. The selling can be done through various sales channels like online, retail
shop, through direct sales or mail. The aspect of the sale as a retail transaction that uses the end
user is the buyer. Retailers satisfy the demand of the customers by identify the supply chain.
Business directs its marketing efforts by satisfying its consumer by the organization of selling
goods and services by the means of the distribution (Fram, 2018). Fashion industry is surrounded
to design, distribution, manufacturing, retailing, marketing and promotion of all types of the
apparel for men’s, women and children’s from the designer clothing to ordinary clothing. Total
number of the retail outlet in UK in 2020 is 306,985 and there retail sales is approximately $403
billion in 2020 and more than third proportion of the population sped on the retail stores. In this
report discussed about the key relevant changes in the internal and the external environment in
the UK fashion clothing market and discuss the strategies and the tactics used by the retailers to
respond the major changes occurs in the fashion industry.
MAIN BODY
Overview
The report is based on the Boohoo group Plc based on the online fashion retailer that aimed
the age group of the 16 to 30 years of people. It is founded in 2006 by the Mahmud Kamani and
Carol Kane. Its headquarters are in the Dale Street, Manchester and the United Kingdom. It is
specialises in its own fashion clothing brand with its 36000 products. Boohoo differentiate itself
from its competitors as it’s over clothing range of its own brand with average price that
comprises of the 9000 clothing line. It sells its products to over 100 countries and in a major
market of the UK, US, France, Europe and many more. In Boohoo the total employees at the end
of the year 2020 is 2619. Boohoo has classified its clothing under the brand name as Boohoo,
boohoo Man, Pretty little thing, Nasty Gal, Miss Pap, Karen Millen and Coast. It provides
various stylish clothes to their customers by invest in the supply chain, technological
advertisement, use various analytics and the artificial intelligence for the best for their customer
base. To engage and be active with the customers they provide and inspire their customers by the
help of the social media (Boardman, Henninger, and Zhu, 2020). It has best distribution channel
with over 3500 workforce distributors in the 2020, to ease the distribution and borough the heart
of the UK by providing the skilled and the varied workforce.
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