Retail Theory and Practice

Retail Theory and
Practice

Table of Contents
INTRODUCTION...........................................................................................................................1
(a) Key relevant changes in UK fashion clothing market......................................................2
(b) Strategies and tactics for retailer to respond the major changes occurring in fashion
clothing market.......................................................................................................................3
RECOMMEDATION......................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Fashion industry is known as the sector that get attention of large number of people
anywhere and at anytime (Stewart and Shamdasani, 2014). Everyone become so familiar with
the fashion as an individual thinks that this is just a sophisticated and fashionable style. Today,
this get affected by large number of elements and this not only impact on clothing but it affect
almost every aspect of daily live of individuals (Dalkir, 2013). Further, fashion is a valuable tool
for analyse the culture and ascertain the values of that cultures. ZARA, a fast fashion retailer of
clothing is taken under present study. Major changes that arise in fashion industry is all detailed
under this report. In addition to this, what are the major strategies which should be use by retailer
to respond these changes is all given in this.
Introduction to retail:
Retail industry is one of the oldest sector, this industry has grown at 5.5 percent every
year (Shanks and Tilley, 2016). Number of changes are there which take place in this and affect
its growth and rate of profit. To achieve success and growth, it is very essential for manufacturer
and retailer of clothing to first examine the variations takes place in needs and in fashion trends.
Major jobs in industries related with fashion are in the retail sale of clothing. Fashion market of
United Kingdom is growing on continuous basis because large number of retailer move away
from seasonal trends and heavy discounting that have little relation to unpredictable figures.
Introduction to company:
Zara is retailer based which is Spanish fast fashion brand which dealing in clothing and
accessories sectors. It was founded in 1975 by Amancio Ortega and Rosalia Mera which
headquarter situated in Spain. It is flagship brand of Inditex group. In world's it was largest
apparel retailer. It has 2200 store in UK with US$9 revenue. In 2015 , Zara was ranked 30 inter
brand's list of best global brands (Sciacovelli and et. al., 2011). Its sores is dealing in men's ,
women's , as well as children's clothing. Product of this company is designed on the basis of
consumer trends. It is highly responsive supply chain of products. It produces over 450 million
items per year. Now products are also available online with minimum prices .This provide latest
fashion and high quality product at affordable prices. It offer wide range of choices to women.
One of the main idea of firm is to make the luxury products accessible to everyone
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(a) Key relevant changes in UK fashion clothing market
Zara is a retailer in clothing sector that work with a new approach in the sector. This firm
was founded in Spain in 1963 and was founded by Amancio Ortega. It has about 2000 branches
around the globe (Ruggie, 2017).
Clothing industry summarizes the type of industry with production of clothing, starting
with textile industry. At present approx 555000 people are employed in fashion retail, textiles in
UK. Major external factors that affect the business operations of weather (Karlan and Zinman,
2011). A research revealed that number of retailers give heavy discounts to its customers all this
created an atmosphere of mistrust. Due to this, customers felt that clothing wasn't worth its full
price. Retailers have made various efforts to solve this by focus to get the value from the
discount, this results in enhance confidence of buyers to buy at original price.
Major external factors that affect the business operations of Fashion industry has
significantly develop over specially over the last 20 years. Changing dynamics of fashion sector
have forced retailers and manufacturers to desire low price and flexibility in quality, design, and
speed to market,major tactics and strategies to maintain percentage of profit, in the increasing
demanding market. Number of changes take place in UK fashion clothing market and the main
key drivers of change in the fashion industry can be understood by the points given below: Rebranding sustainability: Digital was an ineffective revolution in fashion sector 10
years ago. But toady if manufacturer and retailer of clothes are not digital then it can not
even survive (Black, 2018). Further, sustainability is another element which enterprises
wants to achieve and for this they do various efforts which also results in change in
fashion industry in UK. Businesses setting bold goals: Today every enterprise require to set bold goals, it is very
important for an enterprise to show the public that firm is able to do that.
 Harnessing the power of industry: Today every enterprise wants to create and maintain a
positive and strong brand image in front of its customers. For achieve this, it is very
essential for enterprises to maintain transparency in supply chain. All this help firm in
attract large number of customers and increase number of its profits.
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