retail report
Table of Contents
1.0 Introduction:
This report seeks to provide a board evaluation on UK clothing retail sector; this would be conducted using academic resources and databases. Firstly an overview of the sector will be given, followed by identifying the key players within the industry. A further scrutiny will be provided on the trends within the industry, finally a conclusion on the opportunity aspect the industry has to offer, followed by my suitability for the job will be discussed. Thereafter, an action plan will be conducted explaining how I intend on accomplishing my future targets.
2.0 Overview of the industry: Fashion UK retailing
The rise of technology has also paved the way for the success in this sector; it is apparent that the Internet has revolutionized the sector. As of mid 2012, the UK Population was estimated at 63.7 million (www.ons.gov.uk), with that in mind David McCorquodale predicted the rise of UK Population to 73.2million in 2035, hence creating new market demands and expanding the market place. UK’s growth rate as of 2013 was estimated at 1.9% (guardian, 2014), with Labour force at an estimate of 32 million as of 2011, followed by Unemployment which was estimated at 7.7% as of April 2013 which is reduction from 8.1% of 2011. Finally GDP- per capita (PPP) at an estimate of $36,600 as of 2011 (www.fashionunited.com). Futhermore according to the Britishish fashion Council the UK is said to have a rich regional diversity of which it enjoys, with different areas specialising in different practice. i.e Scotland is well known for producing High quality knitwear and woolen apeareal. (British fashion Council, 2012).
Table 1:
Regional breakdown of the UK fashion industry
Source : (British Fashion Council, 2012)
Tillman (2009) argues that the UK fashion industry within the retail sector is one with creativity and vibrancy in the country. Supported by Key Note who suggested the UK clothing
1.0 Introduction:
This report seeks to provide a board evaluation on UK clothing retail sector; this would be conducted using academic resources and databases. Firstly an overview of the sector will be given, followed by identifying the key players within the industry. A further scrutiny will be provided on the trends within the industry, finally a conclusion on the opportunity aspect the industry has to offer, followed by my suitability for the job will be discussed. Thereafter, an action plan will be conducted explaining how I intend on accomplishing my future targets.
2.0 Overview of the industry: Fashion UK retailing
The rise of technology has also paved the way for the success in this sector; it is apparent that the Internet has revolutionized the sector. As of mid 2012, the UK Population was estimated at 63.7 million (www.ons.gov.uk), with that in mind David McCorquodale predicted the rise of UK Population to 73.2million in 2035, hence creating new market demands and expanding the market place. UK’s growth rate as of 2013 was estimated at 1.9% (guardian, 2014), with Labour force at an estimate of 32 million as of 2011, followed by Unemployment which was estimated at 7.7% as of April 2013 which is reduction from 8.1% of 2011. Finally GDP- per capita (PPP) at an estimate of $36,600 as of 2011 (www.fashionunited.com). Futhermore according to the Britishish fashion Council the UK is said to have a rich regional diversity of which it enjoys, with different areas specialising in different practice. i.e Scotland is well known for producing High quality knitwear and woolen apeareal. (British fashion Council, 2012).
Table 1:
Regional breakdown of the UK fashion industry
Source : (British Fashion Council, 2012)
Tillman (2009) argues that the UK fashion industry within the retail sector is one with creativity and vibrancy in the country. Supported by Key Note who suggested the UK clothing