Many thanks for your collaboration! One of the factors that must be considered by any company is the external environment and the underlying aspects that must be given emphasis by any business organisation. The economic factor involves the context inwhich an industry belongs, i. No doubt that increased consumer spending and status symbols are great opportunities for both domestic and foreign companies. For example, for years China was inaccessible as a source of labor, supply or export sales due to inter-governmental tension and its attitude toward commerce. Workers picketing their clothing employers impacts production.
S markets and in mature European markets. Navigation is easy, searching is fast, and they offer fast, free shipping through their Prime member service. The management needs to have strict store policies of waste material or by products. About the Author Barbara Bean-Mellinger is a freelance writer who lives in the Washington, D. Analyzes market share, segmentation, trends, and consumer demographics. Social factors affecting China China is the most populous country in the world with a total population of approximately 1.
Economic — this refers to how exchange rates, inflation rates, interest rates andeconomic growth will impact on a business and how it can grow, develop andmake various decisions. As a result of this lifestyle change, malls have suffered. Nevertheless, the significance of effect that political factors might have upon the business may differ vastly. In the emerging markets more than 65% of the consumers are seeking sustainable fashion actively. The automatic generalizations and stereotypes of fashion like superficiality, materialism, vanity, and reoccurring characterizations make it difficult to see the hard work, dedication, and creativity presented by designers; The public has harsh stereotypes of the fashion industry but do not take the time to look beyond the laid out expectations shown in films like The Devil Wears Prada and Funny Face. Conclusion Garment industry is one of the leading sectors of a country. The political environment affects so many things including economic environment of a nation and international supply chains of businesses.
It faced all the problems and continued to flourish. Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall. Some we buy for special occasions only, like a night out on the town after not seeing old friends for a while. Another factor is the credit crisis that is not only problem for the producer but for buyer as well. Trade embargoes, political unrest in an area of raw material supply and economic downturns that lead to restricted consumer spending are all threats to the accessibility of raw materials, brand exposure and name recognition, distribution and consumer purchasing. Consumer Factors Consumer microenvironmental factors include cultures, norms, lifestyle, demographics and population changes.
Consumers have shown an inclination towards these brands that are selling good quality fashion products at affordable prices. Retailers are at the end of the supply chain. These are just some of the issues marketers are facing within this factor. The general political climate of a nation or region, as well as , can also greatly influence the organization. Micro-economic factors are all about the way people spend their incomes. It provides a comprehensive list of influences on the possible success or failure of particular strategy.
The fashion industry is a large employer and apart from the labor laws the other common laws applicable in business also apply on it. This factor is equally important as all other factors of the analysis. Chanel, Clothing, Fashion 797 Words 3 Pages preconceived notion the public has on the fashion industry. The first ladies have all found themselves in the limelight for their clothing choices. To suit all the needs for potential audiences is challenging.
The millennial generation mostly likes to shop online and likes a personalized experience in terms of shopping and customer service. Hence, government interference is not just limited to the public sector; indirectly through taxes and directly by restricting certain products they do have interference in the private sector Allen, 2001. Technology affects several things including user experience. As thisparticular industry also comes under the basic necessities of human beings, itimpacts a lot to the society as a whole. Strictly speaking, apparel is defined as clothing. In addition, consumer behavior in the fashion industry changed significantly over the last two decades mixing and mingling fashion segments into individual styles that combine both high and low-end fashion items.
This has affected several important changes leaving marketing toying with several options and opportunities as well as faced with new challenges. Make changes to capitalize on your strengths and turn both your competitors' strengths and weaknesses into your strengths. Audrey Hepburn, Devil, Fashion 1690 Words 5 Pages A. If e-retail has enjoyed exponential growth then it is because of the additional convenience provided by technology. The change in the lifestyle and needs in different demographics alsoaffect the demand of the customers. Consider working with competitors to circumvent a threat, such as a supplier boycott, if the threat is too big to eliminate on your own.
Audiences today vary from many ethnic backgrounds and possessing a large variety of new hobbies. Any organization violating environmental safety measure might face a tough time in the international market or might be altogether banned from different countries. This provided an opportunity to access a cheaper labor force, obtained lower price goods and reach an entirely new market. Other such issues that affect industry are global warming and clearance of some natural resources to produce the garments. While statistical data for consumer spending shows a steady increase in outdoor recreation, there are many economic, social and technological factors that negatively affect the production and consumption in the outdoor apparel industry.