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Assignment on Retail Theory & Practice

Added on - 03 Jun 2020

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Retail theory & Practice(fashion Industry)
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Role of retailing fashion industry in economy............................................................................1Description on key relevant changes and retail changes.............................................................2Vertical strategies to compete in market-...................................................................................3Description on the ZARA's retail pricing strategies..................................................................3PESTEL Analysis of the Fashion Retail Industry:.....................................................................4Define the strategies in relation to ZARA clothing market.......................................................5CONCLUSIONS..............................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONRetail fashion industry is well grooming enterprise in present environment. In order tomake it well and effective it is essential to understand the customer in market. In order to make itwell known in market it is important to interpret the need and demand of current customers.Thus, it can be said that retail enterprise works as to combines number of strategic factors andthis all are essential in order to gain overwhelming success. The present assignment will outlinethe activities of ZARA in relation to its market position as per fashion industry. It is inclusive ofvarious activities as are Role of retailing in economy, theories in relation to retail change.Changes in retail environment, consumption and shopping tends etc. In addition to this the pricesstrategies in relation to fashion industry is need to be defined so that process in manner fashionindustry can be taken out effectively.MAIN BODYRole of retailing fashion industry in economy.The retail sector plays vital role in UK economy, the fashion industry plays the essentialrole in manner to earn large amount of profitability in market. Thus, it can be said that thecreative and innovative fashion industry has much to offer. ZARA are having effective designersin market who are taking various initiatives in order to set the trend in market. Under this ZARAprovides liberty to customer in relation to choose the products as per their choice and preferencesin market. Under this it can be said that the UK, retail fashion industry are known for their highfashion standard. In addition to this, it can be said that the Growth of ZARA in UK has highimpact on home-grown chains such as are Mark & Spenser etc. Although, ZARA which hasarrived in the market of UK in the year of 1990, it only makes the UK top 20 list of Women wearretailer and it is based on its market share. With the help of steady growth, economicopportunities are helpful in relation to create innovative products in market. Zara can be taken asthe most ethical and environment friendly clothing, it is one of the positive factor about it. Thus,it is gathering the attraction of widen range of customer in market. Hence, it can be said that theZARA is having the larger contribution in the economic growth of UK. By the virtue of this fact,It cannot be denied to say that retail has occupies the important place in world economy.1
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