Case Study Report Essay Example | Topics and Well Written Essays - 1750 words

Case Study Report - experiment Example check to the latest figures unemployment is down to 7.4 percent. In 2008, the global financial crisis led UK into the deepest and longest niche ever in their history. But the good news is that the consumer spending is rising because of cheap and easy credit. The gross domestic product of the uncouth which is the main economic growth indicator rose by 0.8 percent in Q3 2013. This shows that the country is slowly recovering (Henry, 2008, p. 217). Social forces The convinces in social and cultural factors have a profound pith on the fashion industry. The shopping habits in UK are beginning to evolve because of the rapid ageing population and migration trends which are changing the ethnic makeup of the towns and cities. According to KPMG, over the next ten years, around two-thirds of any the retail spending growth in UK will come from people who are cured 55 or above. The main challenge to the Fashion retailers in UK is to come to terms with the ageing population of UK and throw their product portfolio according to their specific demands and tastes. Technical forces The fashion retailers are now developing online business models which co-occurrence the traditional form of retailing standardised the brick and mortar retailing. The fashion retailers are also making their front across social networking sites where they can interact with their customers. Legal Forces The UK retail business has to comply with a matter of regulations ilk Minimum wage legislation. This requires the UK employers to pay a minimum of ?6.19 on hourly basis to the employees aged above 21. They have to incorporate equal opportunities legislation and other parliament acts so that they can guarantee equality both in the recruitment and selection and in the work place. Key trends potential trends everywhere the past 20 years the fashion retail industry has become one of the worlds most fiercely competitive industries in retail sector. There hav e been major structural changes in the way a fashion retailer do business. In the early 1990s there were a few big retail fashion players like Next, Littlewoods, and Spencers. Now the market is more crowded with players like Arcadia, Primark, Inditex and Forever 21 fighting to own larger market share. The major change has been the rise of internet. volume of the fashion retailers are now going online to make their business global. The fashion retailers have created new standards for themselves. According to a study in the next five years, 40 percent of all the high way stores are up for renewal. Stores are getting more exciting for the customer to visit. Another important change is that the customers now get more value for their wrong. Both the cost prices and the selling prices have now locomote and the customers can now get superb quality of material at much lower price as compared to 20 years ago (Sadler, 2003, p. 164). Environmental forces The physical environment in which fa shion retail industry operates in UK is relatively benign as compared to other areas in the world which suffers from natural disasters like hurricanes, earthquakes and forest fires. But the customers are becoming more aware of the impact business has on their