Retail Theory and Practice: Strategies for Responding to Changes in the UK Fashion Clothing Market

This report discusses the UK fashion clothing market and strategies for retailers to respond to changes. It focuses on Nike and uses the Ansoff matrix to suggest tactics for market penetration, development, product development, and diversification. The report also covers the Retail Life Cycle theory and the impact of political, economic, socio-cultural, technological, environmental, and legal factors on the industry.

Theory and
practice

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Overview of the company............................................................................................................3
Identify key relevant changes in the UK fashion clothing market..............................................3
Suggest and discusses strategies and tactics that could be used by the retailer to respond to the
major changes occurring in the fashion clothing market.............................................................6
Retail Life Cycle theory...............................................................................................................7
CONCLUSION & RECOMMENDATION....................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Practice will termed as a definite opinion, functions and research. Practice is the
supervision of dissimilar perception that require clarification. As on the other side, theory is a
projected clarification of the dealings among various manner of the theories in the field of the
market. Retail will termed as the procedure of creating sale of products and their services on
regular basis by which it will be utilised by consumers in several mediums of distribution with
the motive of earning high term of revenue and profitability. The management considered in this
report is Nike, it is an international management that deals with footwear, accessories and many
other facilities (Albrecht, and Fischer, 2021). The following report will involve the discussion
of UK fashion clothing market. It will also involve the situation and present condition of UK
fashion clothing market in retail Industry and their strategies and tactics that are to be followed
by respective company in respect to gain higher term of productivity and profitability in their
management of business in the field of area.
TASK
Overview of the company
Nike is an American international company that will involves several sections in terms of
design, growth, production, and other global term of marketing sections. The brand will also
involves the sales of footwear, apparel, equipment, accessories, and other facilities. The business
of management is established in Beaverton, Oregon, in the Portland metropolitan area. The main
objective of the business of management is to offer high qualitative goods and services to their
loyal base of consumers and keep them satisfied by which they will be the part of their brand of
longer period of time as effectively and efficiently in the field of the market (Midha, S., Tripathi,
and Sharma, 2021). Reliable stress on invention is the major key factor of the business of
management that will plays an essential role in the business of management with strong and
reliable position and high set of goodwill in the field of the market as effectively and efficiently.
Identify key relevant changes in the UK fashion clothing market
The fashion retail Industry of UK are varying quickly due to engagement of several other
companies. PESTLE is an important structure by which the external environment of clothing

fashion industry might be measured suitably. PESTLE Analysis of UK fashion clothing market
in retail Industry are as follows –
 Political factor- It is incredibility and will termed as an essential problem in the present
period. It will have high impact on the clothing fashion industry of UK. There are various
factors that deals with various incredibility such as political instability, Brexit, terrorism
and many other. It might be evaluated that there are various sort of issues that have an
impact on clothing and fashion industry in UK (Gill, 2021). The political manner in UK
will also face various uncertainty due to government low term of support of fashion
industry as effectively and efficiently.
 Economic factor – It will also have an influential impact on the clothing and fashion
industry of UK. The amount of economic variations that will have an impact on fashion
industry and it will lead to further economic crisis. The present recession is also an
important factor that will have certain impact on clothing industry of UK. As there are
various factors that will affect the clothing and fashion industries by economically such
as high term of recession, high rate of unemployment, and individuals with low revenue
and many more. It is an essential economic factor that will restrict the UK clothing
fashion industry to highlight their economic condition. Brexit has negative outcomes on
the variation in the rate of cost that will also so get affected on the economic situation of
UK clothing fashion industry.
 Socio- cultural factor – It will plays an important role in in advancing reliable
development of UK clothing fashion industries in the field of the area. From last few
years, there are various social variation that occurred and it will have impact on the
manager of the clothing fashion industry of UK to operate their internal operations and
functions (Gardner, Osorio, and Mccormack, 2021). At the present period of time,
generation have become highly concerned with fashion and about their taste and
preferences by which new trend are promoting in the field of the market. Such sort of
trend is developing high term of pressure on the clothing industry to develop and create
their sources of innovation. At the present time, the consumers who are belongs from
middle class are no longer get influence by high class clothing fashion or goods. As there
are a lot of trends in the field of the market and by which consumer are driving the
clothing or fashion industry to maintain the cost of the goods as economically.

 Technology factor - Technology is one of a developing factor that will plays an essential
manner to advance high set of development of the clothing fashion industry of UK. As
there are various drastic technological advancement that will termed it as a key factor to
create quick variation in the field of the fashion industry. Globalisation, sources of data
technology and maximization rate of online shopping are some of the factors that are
increasing the measurements of sale and the profitability margin of the UK clothing
fashion industry. The consumer are now inclined to get essential source of data in terms
of goods before creating their purchasing decisions. As there are various official websites
by which consumer will get update in terms of the products and goods that they want to
get purchase in future (Fields, 2021). At the present time technology are supporting not
only fashion industry but each and every sector by promoting goods and their services
worldwide.
 Environment factor - By protecting the environment in between operating the company
will termed as an essential factor of retail clothing industry. By an extreme pressure from
government on managing corporate social responsibility in respect of the clothing brand
Nike who are presenting various commitments on the carbon footprints. At the present
period of time, there are various managements who are putting reliable issues on creating
the marketing conditions in terms of environment friendly situation. The management
who are creating comprehensive investment on securing environmental sections by
ensuring sustainability in manner of utilising environment friendly products and utilising
of efficient goods in packaging and wrapping the goods. By the maximization rate of
pollution and other harmful sections it might become the situation of environmental loss
as ethically and socially. Nike will concerned the manner of fashion brand to create the
manufacturing and production awareness to utilise environment- friendly goods.
 Legal factor - As there are various sort of legal challenges and issues that are prevalent
in the clothing and fashion and clothing retail Industry. In the present period of time, the
Government of UK is putting higher pressure on the fashion and clothing brands to
manage their beliefs and flexibility and hence maintain the situation for them to operate
their company in an environment friendly way (Donders, 2021). In context to the
company, efficient rules has been implemented in respect to protect fundamental rights
and duties of the workers. Employment and labour law 2019 has been presented for such

sort of legal challenges in the field of the market. This act will involve the common
problems that are related to the terms and conditions as with obligations and duties of
employment. The manner of rules and regulation is making higher term of pressure on
the fashion brands to operate their management as ethically.
Suggest and discusses strategies and tactics that could be used by the retailer to respond to the
major changes occurring in the fashion clothing market
As the amount of higher set of competition and challenges is creating a difficult situation
for the companies to maintain their position in the field of the market. The companies are setting
their objectives and goals to accomplish higher set of competitive benefits as effectively and
efficiently (Ng, and Somerville, 2021). Nike is also facing higher term of pressure by the
extreme challenge of competition in the field of the market. Hence, it is imperative for the
business of management to execute durable term of managerial plan of action in terms of getting
higher term of competitive benefits and the suitable manner of strengthen the economic base.
Ansoff matrix is a major structure that night are following the way of manner in respect to gain
competitive benefits and will obtain a consistent position in the field of the market. The
framework of Ansoff matrix are as follows –
 Market penetration – It will termed as an essential manner of a accomplishing of a
consistent position in the field of the market. It is authoritative for the business of
management to hold new set of techniques and methods of approaches. The business of
management should put stress on the invention or innovation to create essential set of
investment in digital platform in respect to enlarge their goods and facilities as
worldwide. In context to the respective company, the support the way of sections that will
involve digital platform or social platform by which the company might be capable to a
ensure their high set of quality of the goods in between the consumers. The business of
management has been presented the new and comprehensive promotion campaigns that
should be launched with organised the section of involving consumers that is the basic
manner of increasing the rate of market share (Myrovali, 2021). Nike will also enhance
the present line of goods for the sale and for influencing the consumers as effectively and
efficiently.

 Market development – It is an authoritative term to present and demonstrate a new form
of market with present goods in respect to influence new base of loyal consumers. It will
involve the strong preference that should be given to the local consumers to have an
impact on them and will also influence them for longer period of time (Ciubotaru, 2021).
In context to the respective company, Nike might also create reliable speculation on
introducing their stores in respect to strengthen their store with high term of support of
their loyal base of consumers. Nike will set there orientated field of targets on local
consumers as per to the tendencies of purchasing extreme fashionable goods in the field
of the market. It will present the suitable manner of market development as per to the
products and their services as effectively and efficiently.
 Product development – It will termed as one of the major factor by which the business
of management will be the part of complex challenge in the field of the market. The retail
fashion industry is an influential sector by which the company should follow their line of
products and services to influence higher term of consumer base. As there are various
new products in terms of footwear, accessories and other services by which new
consumer can get influence from them and will be the part of their brand for longer
period of time. At the present period of time, Nike will set their objectives and goals that
will concentrate on the design of goods to produce higher term of interest in between
their loyal base of consumer.
 Diversification - It is another suitable manner of getting the interest of the brand in
between the consumer. At it is the key of gaining competitive benefits and welfare in the
field of the market (Grechenkova, 2021). The business of management might ensure
high term of accessibility of the best- selling collection in terms of physical and
technological manner for their consumers. Both are the long- lasting and well- known set
of terms for purchasing the goods from brand for their consumers as effectively and
efficiently.
Retail Life Cycle theory
As there are various different stages of the retail life cycle theory in the field of the retail
industries that are as follows –
 Innovation stage – In the innovation stage, the alteration and growth of management
approach have led to the appearance of new retail arrangements, neither consumers nor

the industry understand the operational features of the new formats, which reduces
market share. In addition, due to the growth costs of new business formats, it is difficult
for retail industry applying new methods to create a profit at this section.
 Growth stage – During the development period, new management arrangements began
to be recognised by customers, and new arrangements were extensively recognized by the
management (Bukovszki, and et.al., 2021). As a result, market share began to rise, and
imitators will get increased. Competition between management will apply at traditional
and new methods is intensifying. At this point, management will first restructuring their
operations can maximise the trades and effectiveness.
 Maturity stage - At this stage, companies in the new retail format cannot gain more
market share and expand their customer base. During this period, the companies that have
won in the growth phase are striving to maintain market share. However, profit margins
began to decline as because the new retail format could not give any company an
advantage over other companies and the company had to lower prices to beat its
competitors.
 Decline stage - In the recession stage, the new commercial format becomes the
traditional commercial format. With changes in consumer buying behaviour and the
emergence of new commercial formats, the market begins to contract. The traditional
business format (the original new business format) cannot be profitable and may suffer
heavy losses. Losses caused by decreased sales.
CONCLUSION & RECOMMENDATION
From the above mentioned report it has been concluded that, the amount of challenge in
the retail clothing fashion industry is extremely high. It is termed as a driving force for the
business of management to put reliable stress on executive durable business plan of action it is
the manner by which the companies might maintained their position in the field of the market. At
it is helpful for accomplishing competitive benefits as effectively and efficiently. The needs and
demands of consumer and their perception in terms of the fashion that are related to the goods
that are varying quickly by which company will implement their business plan of action to
support the consumers to fulfil their demands and helpful for branded to gain competitive

benefits. And it has been also recommended for Nike to create high term of relations and dealing
with the consumers as effectively and efficiently the brand will know the manner of creating and
managing healthy relationship with their consumers. As in the present period of time consumers
are becoming highly fashion orientated and it has been suggested and advised for Nike to put
special concentration and efforts on consistent innovation in respect to enhance their line of a
product and services for keeping their impact on consumers and will influence them for a longer
period of time as effectively and efficiently in the field of the market

REFERENCES
Books and Journals
Albrecht, S. and Fischer, M., 2021. Cooperation of Young Researchers from Science and
Industry—Life Cycle Assessment in Theory and Practice. In Progress in Life Cycle
Assessment 2019 (pp. 1-4). Springer, Cham.
Midha, S., Tripathi, K. and Sharma, M.K., 2021. Software Defined Network Horizons and
Embracing its Security Challenges: From Theory to Practice. Cloud and IoT‐Based
Vehicular Ad Hoc Networks, pp.163-198.
Gill, A. ed., 2021. Foundations of Sports Coaching: Applying Theory to Practice. Routledge.
Gardner, R., Osorio, S.L. and Mccormack, S., 2021. Creating Spaces for Emotional Justice in
Culturally Sustaining Literacy Education: Implications for Policy & Practice. Theory
Into Practice, (just-accepted).
Fields, D., 2021. An Illustration of the Actual Steps in Development and Validation of a Multi-
Item Scale for Quantitative Research: From Theory to Practice. In Handbook of
Research on Advancements in Organizational Data Collection and Measurements:
Strategies for Addressing Attitudes, Beliefs, and Behaviors (pp. 51-69). IGI Global.
Donders, K., 2021. Public Service Media in Europe: Law, Theory and Practice. Routledge.
Ng, G.Y.T. and Somerville, S., 2021. Learning intubation with neonatal videolaryngoscopy:
education theory in practice. Archives of Disease in Childhood-Fetal and Neonatal
Edition.
Myrovali, A., 2021. What are the educational conditions (in theory and practice) for minor
refugees who arrive in Lesvos, Greece? (Doctoral dissertation, Université de Genève).
Ciubotaru, Ş., 2021. At the Mercy of the Gatekeeper: The Theory and Practice of Undertakings’
Fundamental Rights in the EU Cartel Settlement Procedure. Journal of European
Competition Law & Practice, 12(3), pp.236-256.
Grechenkova, O., 2021. Modern regulatory and legal regulation of the peasant (farmer)
economy: problems of theory and practice. In E3S Web of Conferences (Vol. 273, p.
08012). EDP Sciences.
Bukovszki, V., and et.al., 2021. Transposing Integrated Data-Driven Urban Planning from
Theory to Practice: Guidelines for Smart and Sustainable Cities. Smart and Sustainable
Planning for Cities and Regions: Results of SSPCR 2019, p.141.