Retail Is A Fast Paced Environment - 1592 Words

Retail is a fast-paced environment that is always changing and adapting to new trends and styles. This is why we see â€Å"fast fashion† stores such as HM, Gap, Zara, Forever 21 and Uniqlo, cycling through the clothing they have in their stores very quickly. Because of the constant change in fashion trends, such stores are in an extremely competitive battle to be the most successful in their field. Competitiveness in this industry is broken down into five forces, a theory invented by acclaimed Harvard business professor Michael Porter. First is the threat of new entrants, which is a high threat considering that anyone can make a brand and try to enter the industry. But, as for â€Å"fast fashion† stores this is a low threat because unless someone was to enter the industry with a huge amount of capital, there is no possible way they could even come close to the magnitude of already established stores. So, given these circumstances I would say the overall threat level is a medium, and this level is going to stay the same. The next force is power of suppliers. This is a low risk because of the abundance of global raw material suppliers and the purchase of materials with low levels of differentiation in terms of price and quality. Most of these companies control their suppliers as well, so that in it self makes the power of the suppliers almost none existent. The only time w here the supplier could put the company at risk is if the quality of the products is subpar to expectation, andShow MoreRelatedInternal Analysis Apple1602 Words   |  7 PagesThis makes Apple the most valuable publicly traded company in the world. The share price currently stands at around $600, merely 12 years after Steve Jobs’ return to the company, where the share price was $5. Apple’s physical resources include 362 retail stores world wide, which promote sales and effective advertising. 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In the case of the regulations in the retail industry it has negative impacts because the regulations in the retail industry could easily be changed beyond the established limit and will affect the business adversely, in addition companies such as target will obtain higher costs in expenses due to the changes. Furthermore, changes and transformation in overtime regulations and the share of the retail stores in the healthcare bill. It has a huge effect on GAP negativelyRead MorePest Analysis of Gap Inc1171 Words   |  5 Pagesoperate on those countries. In the case of the regulations in the retail industry it has negative impacts because the regulations in the retail industry could easily be changed beyond the established limit and will affect the business adversely, in addition companies such as target will obtain higher costs in expenses due to the changes. Furthermore, changes and transformation in overtime regulations and the share of the retail stores in the healthcare bill. It has a huge effect on GAP negativelyRead MoreCostco Wholesale Is A Retail Warehouse Club With 698 Stores1613 Words   |  7 Pages Costco Wholesale is a retail warehouse club with 698 stores in eight countries (Costco Wholesale, n.d.). The modern day Costco began in 1993 when Price Club, founded by Sol Price in 1976, merged with Costco, founded by Jim Sinegal and Jeff Brotman in 1983. When the two companies initially merged they utilized the name PriceCostco, but later reverted back to the name Costco (Costco Wholesale, n.d.). At the time of the merger, Costco had 206 locations and has quickly grown, now servicing over 170Read MoreEssay on Retail Data Opens New Global Territory 1128 Words   |  5 Pagesgenerations a the same time. The use of demographics and psychographics, layered with critical data will help marketeer and retailers achieve market success in a global marketplace. 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