Retail Theory and Practice in UK Assignment
Added on 2021-02-20
13 Pages3962 Words25 Views
Retail Theory andPractice
Table of ContentsINTRODUCTION...........................................................................................................................1Overview of the company:..........................................................................................................1Key changes in fashion clothing market within the UK.............................................................2Relevant key changes within the micro environment.................................................................3Tactics and strategies that can be used by retailer in order to respond huge changes in thefashion clothing market...............................................................................................................4Recommendations.......................................................................................................................7CONCLUSION ...............................................................................................................................9REFERENCE.................................................................................................................................10
INTRODUCTIONThe word retail refers to the process of selling product and services to the customers bylots of channels of distribution in order to earn higher profit with good sales. On the basis of this,satisfied retailer always analysed their supply chain concept which is very useful for them to getproper goals in an effective manner. Retail markets have lot of shops in everywhere across theglobe by which they can offer different varieties of clothes to consumers effectively. For betterunderstanding of this topic Reiss brand has been selected as an organization which is a UK basedretailing store and deals in clothing industry, developed by David Reiss in the year of 1971 inLondon, England. Along with this they have 160 stores within the UK. Furthermore, discussionof this assignment will be based on key changes within the UK fashion clothing market. At last,tactics and strategies can be used by the retailer in order to respond few changes within thefashion clothing market will get covered (Bernon, Tjahjono and Ripanti, 2018). Overview of the company:For this respective assignment Reiss brand has been taken in order to understand themore about fashion retaliating clothes. As it is the UK based organization which has retailingstore chain and formulated by David Reiss. Along with this, it makes attractive clothes for men'sand women's with having 160 stores into 15 countries. The first store of this company in Londonwhich sold clothes for men's. Size of this respective brand is much effective as it won differenttype of awards like RIBA, BCO as well as Civic trust award. According to the market scenarioof UK it is very famous brand who is having large number of clothes with several varieties in aneffective manner (Bowen, 2016). In order to gain more and more profit comp[any is required tohave good relationships with customer’s by giving them proper and appropriate clothes in asystematic way. Along with this they also needed to have mortar and brick store which is a retailoutlet and business by which they can sell their products from several location of shops andstores. On the basis of this they can have several stores by which they can achieve their goals in aperfect manner. As this brand has good position within the UK so that it is a opportunities forthat in order to expand their business in different countries and able to accomplish goals in aneffective manner. Now this can be said that if company will apply unique strategies on theirretailing stores than they are able to get better results for future. 1
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