This report delves into the realm of retail theory and practice, examining the dynamics of the micro and macro environments within the UK fashion retail sector, with a specific focus on Mark and Spencer (M&S). The analysis employs a PESTEL framework to assess political, economic, social, technological, environmental, and legal factors influencing the industry. The report explores the company's adaptation strategies in response to these environmental changes, including the impact of Brexit and evolving consumer behaviors. It also discusses key changes within the micro environment, such as customer and competitor dynamics, and the application of cyclical theories like the wheel of retailing and accordion theory. The report provides recommendations for M&S to navigate these challenges and maintain its competitive edge in the ever-changing retail landscape.
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