Roxana Bolog-LFS
Learning for Success MFMM 401
Review and evaluation of UK High Street and of group presentation
Review and evaluation of UK High Street
This report shows research on the UK high street from September to Mid November 2013 and also the evaluation of the news, filtered through the main factors.
It is known that the present economic situation is volatile and this is increasing the levels of risk into every industry. The consumers are not ready yet to spend as they did prior to 2008. Their wages have decreased, now being more careful regarding the price when it is come to buy something, whether is a car, a dress, a house or perfume. Fashion industry does not make an exception, so the big brands are pendulating between the rise and the fall of its profit. Hence, it could not be argued that some important aspects of the business news are constituted by profits. Obviously, the company’s profit is influenced by external and internal factors-PESTEL.
Firstly, it is said that fashion sales decreased by 2.1% for the month of September, and one big reason is discounting. The decision of cutting off the prices did not lead to a positive consequence. On the other hand, there are the retailers that performed well in September, resisting marking down the prices of the products. They attracted the customers with smart, eye catching promotions. However, tough conditions are continuing to make a clear difference into the high street. Apparently, there are many brands who prefer to arise through other methods than cutting of the prices, as Don Williams, national head of retail and wholesale at BDO said at The Guardian newspaper: ‘’ September saw a game of nerve being played, with bolder retailers driving footfall and conversion imaginatively rather than resorting solely to price led promotion’’. In his point of view, the successful retailers are those ones who are continuing to innovate products, promotions, strategies, ‘’ whilst adding a touch of theatre’’
Review and evaluation of UK High Street and of group presentation
Review and evaluation of UK High Street
This report shows research on the UK high street from September to Mid November 2013 and also the evaluation of the news, filtered through the main factors.
It is known that the present economic situation is volatile and this is increasing the levels of risk into every industry. The consumers are not ready yet to spend as they did prior to 2008. Their wages have decreased, now being more careful regarding the price when it is come to buy something, whether is a car, a dress, a house or perfume. Fashion industry does not make an exception, so the big brands are pendulating between the rise and the fall of its profit. Hence, it could not be argued that some important aspects of the business news are constituted by profits. Obviously, the company’s profit is influenced by external and internal factors-PESTEL.
Firstly, it is said that fashion sales decreased by 2.1% for the month of September, and one big reason is discounting. The decision of cutting off the prices did not lead to a positive consequence. On the other hand, there are the retailers that performed well in September, resisting marking down the prices of the products. They attracted the customers with smart, eye catching promotions. However, tough conditions are continuing to make a clear difference into the high street. Apparently, there are many brands who prefer to arise through other methods than cutting of the prices, as Don Williams, national head of retail and wholesale at BDO said at The Guardian newspaper: ‘’ September saw a game of nerve being played, with bolder retailers driving footfall and conversion imaginatively rather than resorting solely to price led promotion’’. In his point of view, the successful retailers are those ones who are continuing to innovate products, promotions, strategies, ‘’ whilst adding a touch of theatre’’