Retail management.docx - Running Head RETAIL MANAGEMENT OF ZARA RETAIL MANAGEMENT OF ZARA System04121 0 RETAIL MANAGEMENT OF ZARA 1 Contents

Retail management.docx - Running Head RETAIL MANAGEMENT OF...

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Running Head: RETAIL MANAGEMENT OF ZARA 0 RETAIL MANAGEMENT OF ZARA System04121
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RETAIL MANAGEMENT OF ZARA 1 Contents Introduction to Retail management ............................................................................................ 3 About the company .................................................................................................................... 3 PESTEL analysis of Zara ........................................................................................................... 4 Political: ................................................................................................................................. 4 Economic: .............................................................................................................................. 5 Technology: ............................................................................................................................ 5 Environmental: ....................................................................................................................... 6 Legal: ...................................................................................................................................... 6 Changes in the micro environment of Zara: ............................................................................... 7 Competition in the Industry: .................................................................................................. 7 Potential of the new entrants: ................................................................................................. 7 Power of supplier: .................................................................................................................. 7 Power of customers: ............................................................................................................... 8 Threat of substitute: ................................................................................................................ 8 Issues related to the micro and macro environment of Zara ...................................................... 8 Macro issues: .......................................................................................................................... 8 Social: ................................................................................................................................. 8 Legal: .................................................................................................................................. 9 Micro issues related to Zara: ...................................................................................................... 9 Competitors: ........................................................................................................................... 9
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RETAIL MANAGEMENT OF ZARA 2 Intermediaries: ........................................................................................................................ 9 Supplier: ............................................................................................................................... 10 Publics: ................................................................................................................................. 10 Recommendation: .................................................................................................................... 10 E- Commerce ....................................................................................................................... 10 Active Wear .......................................................................................................................... 10 Sustainability initiatives ‘Closing the loop’ and ‘Join Life’ ................................................. 11 Brand extension .................................................................................................................... 11 Conclusion ................................................................................................................................ 12
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RETAIL MANAGEMENT OF ZARA 3 Introduction to Retail management Retail management is a procedure by which the customers are able to procure the desired merchandise from the stores of retail for their own personal use. It gives an overview of a basic concept that is related to the visual merchandising and it forces emphasis on the management of the customer relationship, sales management, and brand management. Fashion retailing is a kind of procedure that manages the merchandise flow from the selection of initial designs to the presentation of the end product. The main goal of the fashion retail industries is to maximize the profits and sales of a company. For a successful fashion retailing it is important for understanding the needs and wants of the consumer. The retail industry is one of the most important things to the economy of the UK. In the year 2017, the retail industry of the UK alone generated Euro 395 billion sales and during the year 2018, the sector housed around 319,000 businesses of retail. This essay discusses, pestle, porters, issues in the macro-micro industry and lastly recommendation for Zara (Hansen, 2012) About the company Zara is one of the most known brand names. It deals with accessories and clothes around the world. It is one of the most popular manufacturing and fashion designing company. It is declared as one of the most important and efficient market responding enterprise. Zara is one of the best companies as it keeps up with the latest demands and trends with affordable prices. Zara is a brand that slowly became popular and then captured the market of the United Kingdom and then across the globe. One of the main reasons behind the success of Zara is that it adapts the rapid change of street fashion in its environment; this is one of the main reasons behind its great profit earning. With the help of the Inditex group as well it is able to achieve a high majority of the market. Zara continues to fight with its competitors with the
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RETAIL MANAGEMENT OF ZARA 4 help of introducing the new designs in the stores in a week or two, on the other hand the other fashions brands almost take up to six months in order to get new and to the market and this is one of the main reasons that it is the favorite brands for the customers. Zara is brand that is
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