Unit 31 Fashion Retailing Assignment at The Zara and NEXT (GC0787)
Table of Contents
Introduction.
P1 Explaining the characteristics of target markets of Zara and NEXT.
P2 Explaining the policies adopted by Zara and NEXT clothing.
P3 Describing the factors that influence the fashion trend.
P4 – Impact of different fashion trends on retail services.
P5 Explaining the image of Zara and the way it meets the needs of its target market
P6 Explaining three differences between fashion retailers catering for a mass market and those catering for a niche market
Conclusion.
References.
Introduction
The fashion retail industry is a very sophisticated and constantly growing sector. It is the second-largest industry in the UK. However, studies show that 80% of clothing retailers fail within the first five years. Consumer taste and preferences relentlessly change thus organizations have to constantly evaluate the market to ensure the strategies fit with those of the environment. The clothing retail industry has been and is undergoing significant changes resulting from processes of globalization, changes in consumer demand as well as changing corporate activities in terms of strategic marketing decisions. The UK clothing retail industry has experienced significant growth which has focused attention on studies in the field with this sector being considered as one of the most competitive markets in Europe.
P1 Explaining the characteristics of target markets of Zara and NEXT
Retail outlets
Retailing is the activities involved in the selling of goods to ultimate consumers for personal or household consumption. The major retail outlets are described as below:
Departmental stores
A department store is a retail establishment offering a wide range of consumer goods in different product categories. The purpose of the department store is to cater to the needs and roles of all social classes. Department stores generally sell a wide variety of products, including apparel, furniture, appliances, electronics, and additional select lines of products such as paint, hardware, toiletries, cosmetics, photographic equipment, jewelry, toys, and sporting goods.
Our Recommended Resources:
Discount stores
A discount store is a department store that offers its items at a lower price than many other retail stores. Discount stores are often able to drop their prices due to efficient distribution methods. Many of the largest discount stores are also chain stores. For example, Wal-Mart, Tesco, Target, and K-Mart have many discount stores.
Supermarket
A supermarket is a self-service shop offering a wide variety of food and household products, organized into aisles. It is larger and has a wider selection than a traditional grocery store, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market. The supermarket typically comprises meat, fresh produce, dairy, and baked goods aisles, along with shelf space reserved for canned and packaged goods as well as for various non-food items such as kitchenware, household cleaners, pharmacy products, and pet-supplies. Some supermarkets also sell a variety of other household products that are consumed regularly, such as alcohol (where permitted), medicine, and clothes, and some stores sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seasonal items.
Mom and pop store
A small, independent, usually family-owned, controlled, and operated business that has a minimum amount of employees, has only a small amount of business volume and is typically not franchised, therefore open for business only in a single location. Mom and pop are the terms used for businesses and companies that are independently owned and run. These types of businesses are much smaller and sometimes have difficulty competing with larger businesses’ buying power.
Specialty stores
Specialty stores are retail businesses that focus on specific product categories, such as office supplies, men’s or women’s clothing, or carpet. It isn’t the product they sell that determines if a company is a specialty store, but rather the breadth of their product offering………..