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The Pestle Analysis Of Primark

   

Added on  2021-01-01

11 Pages3241 Words465 Views
RETAIL THEORY ANDPRACTICE

Table of ContentsINTRODUCTION...........................................................................................................................1Introduction to Retail..................................................................................................................1Introduction to company.............................................................................................................1PESTLE Analysis........................................................................................................................2Changes within Micro environment............................................................................................4Suggestions.................................................................................................................................6Recommendations.......................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONRetail industry is growing and developing on fast speed and it refers to the activity ofbuying and selling of goods and services to the end customers through various channels ofdistribution. Every business organisation aims at bringing effectively analysing its businessenvironment so that it can formulate effective business strategies that fits with the changingbusiness environment. Primark is an Irish fast fashion retail company and its headquarter is inDublin. The Primark company was founded in the year 1969 and there are 368 locations ofPrimark around UK, US, Austria, Italy, Spain, Germany, France and many more. The fashionretail company Primark provides employment to approx 70000 people. The present report isbased on key relevant changes in the UK fashion clothing market. Some strategies and tactics arediscussed which are used by retailer for responding with the major changes occurring in thefashion clothing market. Introduction to RetailPrimark is a fashion retail company that have large product line and offers diverse rangeof products. It includes clothing for new born and children, women's wear, men's wear, foot-ware, accessories, home-ware, confectionery and beauty products. Primark operates its businessin departmental stores and operates in the low cost end of market. Primark company is based on lower retail margins and high sales volume therefore, it isable for offering value to customers at low prices. The Primark company enjoys its operatingscale or also known as economies of scale (Morcol and et.al., 2017). Physical form refers todepartmental stores that aims at selling wide range of products and also merchandising. ThePrimark departmental stores are arranged by categorizing products in to different sections.Operating methods of Primark mainly focus on store designs, customer service, displayplacement, money handling, shoplifting prevention, staff management, inventory optimisation,maintenance of premises and also dealing effectively with supply chain. There are 368 locationalstore of Primark or departmental store. Company does not have any factory outlets but it doestelesales and vending.Introduction to companyRetail clothing refers to the process of involving in buying clothing products,merchandising them and then selling them to final customers (Benzo, Mohsen and Fourali,1

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