Fast fashion brands like Zara have brought affordable but good quality fashion to the customers. After the lecture of this week, I found PESTLE analysis is a technique for identifying the changing macro-environment which will affect all organizations.
Secondly it has started working with International Labor Organization to provide better wages and ensure proper hygienic working conditions that are safe to work in.
Also taxes, import duties and other import laws changes in different countries make it difficult to source at the catalogue price. This way, management will be more able to understand the quality and direct cost involved through the manufacturer plant's production process, thus find ways to reduce cost and improve efficiencies.
This is a pestle analysis evaluating how the various political, economic, social technological, environmental and legal factors affect the fashion industry. It makes sure that from whichever country it is souring its merchandize, there are no environmental hazards involved in the making of these products.
While usage of traditional marketing media, such as magazines remains strong, product placement and direct customer interaction are becoming more prevalent. In this way, the fashion industry affects and is affected by the economic factors. Top Quality Work Political Factors that Impact H M The political factors that may impact the profitability or chances of survival of the company are quite diverse.
They have grown more discerning and make decisions based on information which they can acquire easily from several resources.
The demographic makeup of global population has changed a lot during the recent decade. Information diffusion has accelerated trend spread and adoption leading to styles changing more quickly than in the past with customers separated into tighter niches.