Economic Forecast Report: Wrogn Apparel Demand & Market Analysis

This report provides a comprehensive economic forecast and market analysis of Wrogn apparel, a youth-oriented brand in India. It begins with an introduction to demand and its significance, followed by a product description detailing Wrogn's origins, its association with Virat Kohli, and its success in the Indian apparel market. The report then conducts an environmental audit, including meso and micro audits, examining factors such as capital, information, and product characteristics within the Indian textile industry. A macro audit assesses political, social, technological, economic, demographic, and natural factors influencing the industry's viability. The report includes a competitive comparison of Wrogn with other brands. Finally, it offers a forecast based on economic trends and industry growth projections, concluding with a summary of the key findings.

Running head: ECONOMIC FORECAST
Economic Forecast
Name of the Student
Name of the University
Author Notes:

1ECONOMIC FORECAST
Table of Contents
Introduction......................................................................................................................................2
Product Description.........................................................................................................................2
Product demand Environmental Audit............................................................................................3
Meso-Audit..................................................................................................................................3
Capital......................................................................................................................................3
Information..............................................................................................................................4
Product.....................................................................................................................................4
Micro-Audit.................................................................................................................................5
Macro Audit.................................................................................................................................5
Political Factors.......................................................................................................................6
Social factors...........................................................................................................................6
Technological factors...............................................................................................................6
Economic factors.....................................................................................................................6
Demographic factors................................................................................................................7
Natural Factors.........................................................................................................................7
Forecast............................................................................................................................................7
Conclusion.......................................................................................................................................8
REFERENCES................................................................................................................................9

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Introduction
It can be said that the demand for a commodity is the desire of customer to purchase a
product that is backed by the ability to purchase the same. Demand is crucial when it comes to
checking the sustainability of a product or a product category (Cooter and Ulen 2016). By
studying the demand of a product or a service, companies can identify the potential areas that
they should bolster. Market Research can help in checking the demand for a certain product in a
certain market (Sarstedt and Mooi 2014). This helps companies in contributing their efforts to
desirable directions and thus reduce the waste of efforts. Furthermore, it can be helpful for
foreign investors in identifying the blooming industries in the country which helps in attracting
increased amount of Foreign Direct Investment. The nature of the product and the degree to
which it is suitable in the market determines the efficacy and demand for the product in the
market. The aim of the paper is to critically evaluate the demand of Wrogn which is a
comparatively newly launched apparel brand in India.
Product Description
Wrogn was founded by Anajana Reddy, and established name in the fashion industry.
She is the owner of a chain of fashion brands in India. Wrogn has been recognised as the
brand which has received the maximum amount of success out of the other brands that
were established by Reddy. By utilising the help of Virat Kohli, the current skipper of the
Indian Men’s Cricket team, the youth brand exceeded the expectation of the owner.
Currently the brand has been recognised as one of the most successful and in demand
youth apparel brand in the country. Furthermore, apparel is one of the most popular
industries in India, it has been since the early days of establishment of industries in India
(Jin, Kandagal and Jung 2013). The brand offers a range of apparel choices to the Indian

3ECONOMIC FORECAST
consumers, especially the youth of the country. Virat Kohli is one of the most popular
sports personalities in the world and thus, his stake in the company has propelled the
company to a favourable position in the market. The company has been able to gain a fair
share in the market as a result of their favourable alignment with the consumer demands.
Product demand Environmental Audit
Meso-Audit
India has been one of the major suppliers of textiles throughout the world (Raichurkar
and Ramachandran 2015). The country has been recognised as one of the major suppliers of
textile worldwide and the same has been justified as a result of the expert craftsmanship and the
availability of the raw materials in India. Furthermore, apparel demand is on the rise in India
(Anand and Khetarpal 2014). With the increase in the amount of exposure that the people of
country have gained to modern fashion, the sense of fashion of the people are also rising. Thus, it
can be opined that an apparel company will have a favourable time in while operating in the
market, provided that the operations are of favourable nature. The nature of the industry can be
justified by the help of the following factors;
Capital
The raw materials which are required for the production of the apparel produced in the
industry, range from cotton, jure, silk, fibre, polyester, wool, rayon and other materials. India has
been recognised as the largest producer of jute and cotton worldwide (Felipe, Kumar and Abdon
2013). Furthermore, they are the second largest supplier of fibre, polyester and silk in the world.
India contributes approximately 15% of the worldwide textile exports in the country (Smith et al.
2014). The textile industry in India is multibillion-dollar industry which amounted to around 137

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billion in the year, 2016 (Ibef.org 2019). The latter was as a result of growth of the sector by
nearly 27% compared to the preceding year. From the net valuation of the industry, around 97
billion dollars was for domestic consumption and the rest that is 83 billion dollars was
accumulated for foreign consumption (Ibef.org 2019). The total exports amounted to 17 billion
dollars (Ibef.org 2019). It was recognised that India was able to meet nearly 9% of the annual
technical textile requirement of the world (Ibef.org 2019).
Information
India is considered as a country of vast expanse. The country experiences different
weathers in different parts of the country. Thus, the nature of requirement of the people of the
country highly vary. Thus, the clothing requirement for people of different backgrounds are
highly different. Hence, Wrogn have been identified as a suitable brand for meeting the ever
changing and the diverse needs of the employees. The products that are offered by the company
range from summer apparel such as linen shirts to leather jackets and woollen garments. Thus,
the country is suitable for the sustainability of similar apparel companies and industry as a
whole.
Product
The products that are supplied by the apparel companies in India, can be categorised on
the nature of their consumption. The different segments have been created on the basis of market
segmentation which is categorised by the industry segregated on the basis of mass consumption,
Mid-range and premium (Singh 2014). The cater to the needs of a diverse group of people who
have different purchasing power parity. Thus, with a highly flexible number of products to
choose from, the company are rightly placed to gain competitive advantage and get appreciation
from the consumer community which would help the company achieve the latter stature.

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Micro-Audit
The two most vital touch points that were identified in the meso audit section were the
increased returns and the high variety of products that the company are offering. Corporate
governance and competitive advantage, are both very important terms when it comes to the
sustainability of a company in the long run (David and David 2013). By generating high amount
of returns it is evident that the company are making amends in the right direction. Furthermore, it
can be said that the company have been able to satisfy majority of their stakeholder by achieving
the said feat. It is the aim of every company regardless of the nature of the industry to satisfy the
needs of the stakeholders. Hence, the company have been successful in meeting the stakeholder’s
requirements. As a result, the latter are likely to stay committed to the compony and it is likely to
generate increased amount of investment in the upcoming years.
The huge variety of products that are offered by the company set them apart from the
competition. Moreover, the price at which the company provides their products to the market
help in determining their acceptance in the community. It has been witnesses that the youth in
India have developed and affinity for fashion, which is a trend that has been developed in the last
couple of years. The latter added up with the price at which the products are offered in the
market make them perfectly suitable for mass consumption. Additional segmentation, into mass
market products, mid ranged products and premium products helps the company in targeting
particular segments through which the company can generate revenue and sustain themselves in
the long run.

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Macro Audit
A macro Audit helps in understanding and critically evaluating the factors that will be
responsible for the long-term viability of the operations of the companies in the apparel industry.
Political Factors
India is a country who generate 35 % of the total textiles of the world. Thus, favourable
taxation policies from the part of the government is crucial for the sustainability of the sector
(Corbridge, Harriss and Jeffrey 2013). The availability of employment laws and environmental
regulations put the industry under the influence of political bodies. Furthermore, the textiles and
apparels are goods that experience a degree of exemption during export.
Social factors
India is a country that has been subject to modernisation in the past couple of decades.
The trends have shown that the teenagers of the country are more likely to stick to trendy fashion
wearable that traditional type of clothing (Corbridge, Harriss and Jeffrey 2013). Furthermore,
with the advent of social media and exposure to international fashion, the Indians have started
developing an affinity for fashionable apparel.
Technological factors
The country has been recognised as an IT hub and thus have been subject to major
innovations in terms of technology. The apparel industry in the country incorporates a great deal
of innovation in the daily operations such as manufacturing, logistics and others. This, helps the
industry in mobilising the products that are offered by the industry. The latter is backed up by the
adequate supply of raw material that are required for production of the apparel.

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Economic factors
India’s GDP is the second largest in the world (Bajpai 2018). This has been caused as a
result of emergence of industries across all sectors. The number of educated people in the
country and the expertise they bring in is the direct cause of the economic boom in the country.
However, poverty is still evident in the country and majority of the population in the country are
placed below the poverty line.
Demographic factors
India is the second highest populated country in the world after China. Majority of the
population belong to the age group of fifteen to sixty, it amounts to nearly 60 percent of the total
population of the country (Census2011.co.in 2019). People over the age of sixty are low in
number in the country and the second largest age demographic of the country is around twenty
eight percent is characterised by people belonging to under fifteen years of age. It was found that
the ratio of men to female in the country is 10:9.
Natural Factors
There are various regulations to environmental malpractice in the country. Regulations
for protection of the environment have been put forward by the government of the country
(Greenstone, M. and Hanna 2014). Furthermore, the factories and industrial sectors in the
country have to check the amount and nature of the by products that they generate. Various
regulations have been formulated as a result of the adverse effect to the environment caused by
harmful substance that are realised to the environment by the industrial belt of the country
(Greenstone, M. and Hanna 2014).

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Competitive Comparison
As mentioned above, the Indian Apparel industry is considered blooming. Thus, there are
various fashion that have been established in the country. Brands such as Allen Solly, Peter
England and Roadster are prominent names in the Indian Fashion industry. They cater to the
Niche, mid-range and the mass market consumers respectively. All the three brands have been
successful in positioning themselves in the Indian market as a result of their effective market
segmentation strategies. These brands are pose maximum amount of threat to the sustainability
of Wrogn in the Indian Market.
Forecast
According to the economic times, the apparel exports of the country are expected to grow
by the rate of 5 percent through the financial year 2019 (Ghosal 2019). In 2018, the rate was
growth was 4 percent and the increased rate of growth would signify considerable amount of
growth in the country (Ghosal 2019). Paired up with that the favourable relations with
Bangladesh, put the apparel industry of the company in a favourable position compared to the
rest of the world. They supply of the raw material required in the textile industry has created a
natural competitive advantage for the operations of the country. Apart from agriculture, the
apparel and textile industries are industries that are shaped perfectly for the future. Trends such
as advancement in terms of technology, automobile, architecture and fashion have been the
major contributors to the GDP of the country. The apparel sectors, has also been recognised as a
gate way to provision of employment opportunities in the country. Employment is a prevalent
issuer in the country; thus, it helps in contribution to successful factors of similar nature. The
apparel industry has contributed to sustainable issue such as empowerment of women who form
an integral part of the textile and apparel industry in India, apart from providing employment

9ECONOMIC FORECAST
opportunities to the unemployed section of the country. The nature of demand in Australia is
likely to stay the same for the coming 2 years. Australia is considered a country consists of
mixed ethnicities. Thus, the assimilation of fashion in the industry is a mixture of diverse
cultures. The apparel industry in Australia is likely to grow as result of the emergence of
different trends in the industry and with the incorporation of multiculturalism in the framework
of the fashion industry in Australia.
Conclusion
Wrogn is a company in the apparel industry who have been taken supplying the Indian
market, especially the youth of the country with fashionable products with a range of options to
choose from. The apparel industry in the country has been recognised as one of the most
prospective industries in the country. The later are the biggest contributors of textiles in the
world and that has resulted due to the favourable nature and amount of supply of the raw
materials of the product. The business is likely to prosper in the country in the years to come as
the target market of the country is perfectly suitable for the operations of Wrogn and the industry
as a whole. Furthermore, the industry is favourable in nature as it contributes to sustainable
issues such as providing employment and empowerment of women of the country.

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REFERENCES
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infant mortality in India. American Economic Review, 104(10), pp.3038-72.

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utm_source=google&utm_medium=cpc&utm_campaign=Wrogn%20-
%20Brand&gclid=Cj0KCQjw7sDlBRC9ARIsAD-
pDFq3vpZWGYjt56CsZcty9lux2k5lItFE5TXpxkG8_KvxNgR1Q9i5WbUaAv-SEALw_wcB
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