Understanding Retail Change and Evolution

This assignment delves into the world of retail change and evolution, covering various theories, trends, and paradigm shifts. It discusses the importance of understanding consumer behavior, adapting to new technologies, and exploring different retail formats. The assignment also touches on the role of franchising in retail and how it can be used as a strategy for growth. Overall, this assignment provides a comprehensive overview of retail change and evolution, highlighting key concepts and theories that are essential for anyone interested in the retail industry.

RETAIL THEORY
AND
PRACTICE

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
P1 Key relevant changes in UK fashion clothing market.......................................................1
P2 Strategies and tactics respond to major changes of market...............................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The retailing theories and practices can be defined as such tactics which may be utilised
to build more effective as well as efficient retailing business. This may facilitate to attain several
goals and objectives of company. They will adopt these beneficial techniques to prove better
products or services to complete the needs and demands of people (Thorpe, 2011). This will
result in improving goodwill of firm in market by grabbing more shares of it and build strong
position amongst competitors. This report is based on Zara company is a Galician fast fashion
retailer based in Arteixo, Galicia and founded in 1975 by Amancio Ortega and Rosalia Mera. It
also owns various brands along with it such as Massimo Dutti, Pull&Bear, Bershka, Stradivarius,
Oysho, Zara Home and Uterqüe. It may be considered that Zara as of 2017 manages up to 20
clothing collections a year in its business. This assignment will involve key changes in fashion
market and techniques to respond various modifications implemented in firm.
TASK
P1 Key relevant changes in UK fashion clothing market
There are various changes which are needed to be applied in companies to improve the
productivity as well as profitability. It is necessary to compete with competitors and strong
goodwill of brand to attract new clients and retain the current ones. Basically, the fashion
industry has significantly evolved, specifically over last 20 years. They need to understand
changing dynamics of business organisations which have forced by retailers. Along with it, they
need to consider flexible design, quality and velocity to market, so as to develop key strategies in
order to maintain profitable position in market. People want to purchase trendy products as they
need to get up to date as per current scenario and clients are fond of adopting such changes very
frequently. Several relevant changes which are implemented in UK fashion fashion clothing are
given below:
Evolution of clothing styles: - There is various kind of people and they have different
wants, demands, taste and preferences. Zara have to identify all these preferences and to fulfil
them by applying some unique features or qualities in its products. It is important to determine
needs to observe cohesion as generation and distinguish them from mainstream (Laseter and
Rabinovich, 2011). This will help to ensure the new style which can become real signal of
identity as well as more compatible for youngsters as per their values of style. It is easily
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implemented modification which generates from previous fashion through some unique ideas.
Along with this, it is not much costly and well adopted by people with satisfaction. This will
facilitate to apply any change easily by assuring better profitability for the organisation. Hence,
evolution of styles renders more profits by investing limited amount of capital.
New styles and paradigm shift: - It refers to such factors which have two stages like
normal and extra ordinary science. This basically described that normal is one without
introducing new radical ideas and try to enhance value of product within paradigm (Ruegg and
Marshall, 2013). This means, firms have to solve crisis related to features of goods or services
and apply few necessary changes in current one. Adding new quality to previous creation is
considered as extra ordinary stage in concept of paradigm. There are various emerging trends
which can be identified in changing market area then it will become essential for Zara to
implement some modifications. This includes changes in strategies or policies by which the y are
manufacturing the products as well as services to complete demands of clients more successfully.
People want everything up to date as per changing trends of market and adopt them very
frequently by leaving current things. This will work as forcing factors for Zara to apply some of
unique as well as innovative changes for making their services of clothing more attractive and
satisfactory then other competitive firms. It facilitates the company to build strong position in
completion of market and attract new customers with retaining the current ones.
Cycle of becoming mainstream: - It refers to focus on main product or service of an
organisation while applying any kind of changes. It is important to think about this, if new styles
concern and interest of young generation of then automatically most of people will easily adopt
that. But in case, if it will create some of critical point then generate public attention and style
will not considered as alternative signal any more. This will become part of mainstream culture
as it creates identification issue for pioneers of styles. Primarily, the new styles of fashion are
generated which have an effective communication with set of values against mainstream. But
after that, many of firms adapt it to expand values of their own products or services then it will
become mainstream (Mahadevan, 2015). It may conduct by early adapters learn secret code
which allows to understand and follow modifications of fashion world proposed by pioneers.
After some time, many companies observes this and adopt the same trend frequently one by one
but still do not know about actual principles of it applied by external changes in fashion. Hence.
It is observed that, there are certain alternative styles emerging all time and this procedure can be
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considered as inevitable. And new styles will introduce with its own values or attitudes
determines may people.
The above changes may be adopted by Zara Company to fulfil the needs, wants,
demands, taste, desires and preferences of clients. This will become possible through various
aspects to implement changes in strategies or policies in respect of evolution, paradigm of new
styles and cycle of attaining mainstream of changes (Gold and et.al., 2013). Several farces are
there which make client reject traditional style of clothing and demand for some extra ordinary
featured and unique products. It is very common to apply various changes in fashion because
people get bored by using same goods or services. It is important for Zara to implement certain
unique changes to grab more market share and improve sales or profits of firm successfully.
P2 Strategies and tactics respond to major changes of market
In clothing industry, there are frequent changes in business market. The fashion and
trends keep on changing according to liking and wishes. Zara is a leading brand in UK in terms
of fashion and clothing industry; they must adopt several tactics to prosper in business market.
Some of them are mentioned below:
 Tracking marketing campaign: - The company has to make sure that they track each
of marketing campaign of their own and others in order to promotion activities online or
in market place (Zielke, 2011). Observing the trend of fashion in market place will help
them to plan better in future run to increase their brand values and return on investments.
They must regularly monitor the development in market place so that they make better
planning for investment in future prospective.
 Free market strategies: - It is type of promotion activity where the company can
promote their product through using different social networking sites, templates,
brochures or collaborating with any other brand to increase their reach to other newer
markets (Valencia, 2012). For example, Zara can provoke to sponsor international events
like Olympics and Cricket. This activity helps them to promote their product by reaching
larger and different market place. They can make unique plans and packages for festive
seasons or local events which will increase their sales and increase their productivity in
competitive market.
 Repetition: - In fashion trend, it is being observed that it repeats after period of time,
therefore the organisation has to work accordingly for which they have to keep pace with
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the latest designs and technology. With the coming of designing tools like AutoCAD
designing, it has become very easy and new clothes can be designed and manufactured
easily (McCabe, Minnaert and Diekmann, 2011). So, Zara must concentrate on making
new designs and unique as well as innovative products so that they can sustain in
competitive market. Technology has overpowered traditional practices of designing and
every other company in fashion industry which is applying technological changes to gain
advantage in different market.
 Follow-up:- These activities are done to monitor positive and negative impacts of
strategies after the implementation. In this, companies reach out all desired customers
and record their suggestions, feedback and expectations so that they can remove flaws in
their product and make them better. There are different theoretical and analytical tools
which can monitor growth of the organisation in market place like questionnaire, direct
questionnaire, feedbacks on social media etc. These factors will subsequently help them
to observe the strategies and make future planning accordingly (Gillis, Combs and
Ketchen, 2014).
 Becoming a resource: - It’s about engaging with the customers, this will help them in
making strong bond with their customers by understanding their wishes, liking and
respond positively with their employee. For example, suggesting their customers for
finding perfect gifts which will generate faith and increase bonding between them.
Giving values to customers providing help, advice and tips can further deepen the
bonding between the customer and the company. This goodwill will also help them in
making better strategy in competitive market.
 Employee training: - There are various organisations having their own product with its
unique features and ideas (Weber, 2013). In addition, they have to implement several
changes or modifications to improve their values and image in market as per changing
trends. To implement modifications in appropriate way, Zara has to conduct various
training or learning programmes to enhance skills or abilities of employees. This will
facilitate them to put their efforts in correct way to generate desirable outcomes. It is
very obvious that if they manufacture goods or services properly, then they can easily
expand their sales as well as profitability. It is mandatory to hire more qualified,
experienced and desired candidate so that they are able to fulfil the roles and
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responsibilities of specific designation. Staff members of Zara should be knowledgeable,
capable and efficient so that they will render proper services to make them happy as well
as loyal.
 Test: - It is not much enough to just manufacture attractive and satisfactory products but
also promote that with various essential activities or procedures. Zara Company has to
maximize their ROI and at least try to test its multiple versions of marketing aspects. It is
necessary to determine the best technique of promotion through evaluating their positive
or negative impacts on probability of firm (Rosenbaum, Kuntze and Wooldridge, 2011).
After analysing all these factors to identify best alternative, then they can apply that to
perform the best. This criteria should be done through effective steps like first pick small
segments of mailing list to evaluate impacts of various versions and then consider results
of it to implement effective one. This will help in improving profits as well as reducing
negative prospect of firm. Some organisations applied methods of efficient policies of
direct mails as well as marketing through email and landing pages.
 Target: - Every organisation has to set desired goals or targets regarding its production
as well as sales to determine overall profits. This element plays an important role
because it is necessary to set targets or objectives so that it will facilitate to put all efforts
of staff members towards centre of vision. Besides this, the superiors of Zara have to
conduct various meetings and seminars to provide knowledge about details of goals of
firm. This will make employees to think about correct aspect and work more efficiently
in correct direction for generating desirable outcomes on regular basis (Haney and
Pollitt, 2013). The firms also work on such strategies or policies to focus towards target
segment of people to attract them and improve sales or profits. They have to perform on
these prospects to attain various targets like sales, clients, satisfaction and many more.
 Build customer relationships: - It is important to formulate different strategies to make
effective relation with people so that it will help in making loyal clients and long term
profits. Zara has to take care of several needs and demands of customers. As per regular
period of time, they have to ask for suggestion to implement more beneficial features and
feedbacks to solve issues of people. It may support to expand personal interaction with
customers which is huge method to organise relation with them and motivate loyalty of
people for a long term. This will help to boost up profitability as well as productivity of
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an organisation. The promotional aspects can be considered as natural extension which
means here is no needto always put efforts for selling products or services (Das, 2014).
But many times, such effective marketing techniques work as forcing or encouraging
factor so that they want to purchase goods of particular brand to fulfil their needs or
desires. Zara has to conduct various campaigns of providing information about their
product as well as its benefits to motivate them so that they will prefer that specific
brand only rather than others.
 Public relations: - This factor is as similar or identical to marketing as it also has target
to build better and healthy relations with public. It may facilitate to make loyal clients
for a long time and firm can also attain its profits for lengthy period (Mitchell,
Hutchinson and Bishop, 2012). Both these aspects of public relations and marketing
have quite dissimilar criterion but their end goal are often same. This aspect has target to
make customers aware about company, brand, products and services. Various
companies like Zara need to introduces some new innovation regarding their products.
Then it is not necessary to apply several unique policies to manufacture as well as
promote them in market due to its strong brand image. It also includes draft a quick press
release to send to local newspapers or TV channels. Radio stations, websites and
bloggers are also considered. In addition, it prepares techniques of building various
essential activities or procedures of marketing to enhance image of company in front of
customers. It will help to improve position in strong competition of market trends.
Smooth or healthy public relations are able to render support for solving several
problems or issues in case of criticism
Current scenario of changing trends of market force to implement various modifications
regarding strategies or policies for manufacturing. Clothing fashion industry has to make various
changes by applying certain unique or innovative ideas to make product more attractive as well
as satisfactory for people. This will facilitate for building bulk of loyal clients for a long time to
achieve better profitability and productivity of cited enterprise (Combs, Ketchen and Short,
2011). The above mentioned techniques such as tracking marketing campaign, free market
strategies, employee training, build customer relationships, targets and many more support to
respond significantly towards changes or modifications. These methods can be applied by Zara
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for improving its products or services and effectively respond in appropriate manner to changing
trends of fashion industry in market.
CONCLUSION
The above report concluded that firms have to implement various changes regarding
trends of market to modify their strategies or policies of working. They need to manufacture
several unique or innovative techniques by which they will complete the needs and desires of
customers. This will facilitate to gain client satisfaction as well as their loyalty towards the
particular brands. In an organisation, they have to adopt key changes of fashion industry such as
evolution of clothing styles, new styles and paradigm shift, cycle of becoming mainstream etc.
These are some trends which should be followed by firms to complete expectations of peopleand
attract new customers with retaining current ones through new or unique products.
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REFERENCES
Books and Journal
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new directions, and its future within entrepreneurship. Entrepreneurship Theory and
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Das, G., 2014. Impacts of retail brand personality and self-congruity on store loyalty: the
moderating role of gender. Journal of Retailing and Consumer services. 21(2). pp.130-
138.
Gillis, W. E., Combs, J. G. and Ketchen, D. J., 2014. Using resource‐based theory to help explain
plural form franchising. Entrepreneurship Theory and Practice. 38(3). pp.449-472.
Gold, J. and et. Al., 2013.Human resource development: Theory and practice. Palgrave
Macmillan.
Haney, A. B. and Pollitt, M. G., 2013. International benchmarking of electricity transmission by
regulators: A contrast between theory and practice?. Energy Policy. 62. pp.267-281.
Laseter, T. M. and Rabinovich, E., 2011. Internet retail operations: integrating theory and
practice for managers. CRC Press.
Mahadevan, B., 2015. Operations management: Theory and practice. Pearson Education India.
McCabe, S., Minnaert, L. and Diekmann, A. eds., 2011. Social tourism in Europe: Theory and
practice. (Vol. 52). Channel View Publications.
Mitchell, R., Hutchinson, K. and Bishop, S., 2012. Interpretation of the retail brand: an SME
perspective. International Journal of Retail & Distribution Management. 40(2). pp.157-
175.
Rosenbaum, M. S., Kuntze, R. and Wooldridge, B. R., 2011. Understanding unethical retail
disposition practice and restraint from the consumer perspective. Psychology &
Marketing. 28(1). pp.29-52.
Ruegg, R. and Marshall, H., 2013. Building economics: theory and practice. Springer Science &
Business Media.
Thorpe, H., 2011. Snowboarding bodies in theory and practice. Springer.
Valencia, R. R. ed., 2012. The evolution of deficit thinking: Educational thought and practice.
Routledge.
Weber, R., 2013. Tax increment financing in theory and practice. Financing economic
development in the 21st century. 53. p.55.
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Zielke, S., 2011. Integrating emotions in the analysis of retail price images. Psychology &
Marketing. 28(4). pp.330-359.
Online:
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