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

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.