Zaras clothing line is differentiated and buyers are in large supply with a low threat of backwards integration. The PESTLE analysis refers to the screening of political, economic, sociological, technological, legal, and environmental aspects of the macro environment. Climate and the environment have a direct or indirect impact on everything. Uniqlo wont be able to generate sales where people think it is ethically wrong to wear clothes offered by Uniqlo. Legal factors. This PESTEL/PESTLE analysis also identifies governmental guidelines for diet and health as a threat and an opportunity for the restaurant chain business. Or a specific sex? We Will Write a Custom Case Study SpecificallyFor You For Only $13.90/page! What is PESTLE Analysis. PESTLE is a business tool that used by companies to track and analyse the macro environment in which the company operate. See Appendix point 1. However its not always so easy to do this, it takes time and can cost money to get rid of waste and recycle. 1) Competition from entrants- One of the many things that affects the triggers of competition is how well the economy is doing (since the cost of material and cost to produce the apparel will fluctuate as the economies rate may). Currently, the brand has 2,347 outlets all over the globe which helps the brand to generate huge sums of revenue. Global economic condition also had a great affect in, Substitutes include other brands of specialty apparel. For example, if a government imposes a high-income tax on businesses. Experts believe that the faster growth is mainly due to the affordable luxury brands, thanks to . It is an area which must be looked into carefully and research must be done to weigh the benefits. For example, complying with necessary labour norms in advance to . For example, Vietnams apparel exports to the U.S. jumped to $7.1 billion in 2012 from $6.6 billion a year earlier. Key Takeaways The main focal point of this write-up is the PESTEL Analysis of the Fashion Industry.This form of analysis is beneficial in the long run as it helps the company and industry analysts to figure out the influence that the six external factors, namely political, economic, social, technological, environmental, and legal, have on the discussed company or industry. Annotated Bibliography Social norms, regulations, and ideologies play an essential role in the case of some of the industries. It impacts a lot of people, so in order to do that, trade policy must be properly defined, identify what the roles of government currently are, and their involvement in it, and then analyse what should be their role. PESTLE is and analytical tool used to assess the external environment. Presence of well-connected Omni-channel in the United States. In this section, we will highlight some of the political factors that impact the operations of Uniqlo. Check the template that resonates closely with your business model. This technological change has benefited a lot of brands, including Uniqlo. Reputation impacts Treating staff fairly, giving reasonable working hours, adhering to fair trade prices, by delivering on stakeholders expectations, all these things can improve of ruin Velocity Clothings reputation. Following this trend, it is seen as fashionable. Moreover, there have also been a constant increase of trade flow all over the world (European commission, For instance, the world population is aging (OECD, 2013a), therefore, changes in demographic may be dangerous to solely teenage-oriented apparel firms based on the fact that competition for that segment is gradually diminishing (e.g. Environment factors. An environmental analysis, or environmental scanning, is a strategic tool you can use to find all internal and external elements that may affect an organization's performance. Wherever people prefer casual, comfortable, and cool clothes, youll also find a Uniqlo store. Would you like to get a custom case study? The native indigenous people populated Canada thousands of years ago, then Western explorers and colonists, most French and . PESTLE stands for: Political. Shannon focuses on the specifics of dietary options and the individuals who believe in purchasing environmentally friendly foods- this topic is not relevant to the thesis as a whole but provides. Are the shops located in an area of high or low levels of education? The PESTLE analysis was invented over 50 years ago by Francis Aguilar, who was an American scholar whose expertise was in strategic planning. Also Read: Business Startup Plan. Nonetheless, fashion retailing has remained one of the fastest-growing segments in the past decade. Trends What is the latest trend amongst the target audience? Their suppliers can sell cheaper, Velocity can buy cheaper and sell cheaper. As a result, many businesses are trying to cut back on the amount of cotton they use in their clothes. Based on the economic scenario worldwide, the retail industry is predicted to have grown to $28 trillion by 2020. However, if you want to know more about how PESTLE analysis works, look at some examples of PESTLE analysis. PESTEL is an acronym and the letters stand for Political, Economic, Social, Technological, Environmental and Legal.Also, this framework helps to keep track of all the changes happening in the environment. Over the past two decades there has been a decrease in the quantity of woven apparel fabrics made in the, In the article Cotton Clothing Price Tags to Rise, it speaks about how prices for cotton are continuing to go up, so prices for clothing are also going up. The purpose of this act can be further explained in Appendix point 1. Trading Policies any new trading policies formed between countries could make it easier or harder for countries to trade with each other, which could be, For example is an old aged pensioner more likely to buy a brand new latest fashion luxury garment that is extremely popular with the younger generations? But these rules and regulations also take part in influencing a company or industry's behavior and return. Wars & Conflict - Velocity Clothing use materials imported . Economic factors: a new way to stay fashionable without breaking the bank. Conclusion: Pestle Analysis of the Fashion Industry. Through management methods and outsourcing, firms search for the lowest costs for the consumer, without concern about the consequences for workers. ZARA CASE STUDY SWOT AND PESTLE ANALYSISZARA is a top multinational fashion brand which has taken the world by storm through their bold and innovative busine. Policies made by the government and the political scenario of a country where a business operates significantly affect the success of a business. Wars & Conflict - Velocity Clothing use materials . Consumers seeing lower prices could boost further sales. Importance of PESTEL Analysis in Strategy Management & Planning Process. Relocating the garment industry to the global South can arguably be the downfall of workers as they are sacrificing their lives for their job. Patagonia's product range include clothing for activities, such as surfing. It will open up the user-friendly canvas of EdrawMax that has several features that ease your efforts in making PESTEL analysis diagrams. After analyzing the brands success, we decided to carry out Its PESTLE analysis. This PESTEL/PESTLE analysis of Nike Inc. enumerates opportunities for international growth and brand image improvement, considering the remote or macro-environment of the global athletic and leisure footwear, apparel, and equipment industry. Analyze the Woolworths Africa external competitive environment to identify opportunities and threats. We will now be doing a more detailed analysis on these six Nowadays, customers are demanding for convenient shopping experience due to limited time in accessing or going to the market in person. According to Collins (1997), After which, this paper will give emphasis on whether or not green consumerism is framed as a health problem with the aid of such analysis. Also see Appendix point 1. to see a graph of how the Pound to the Euro has declined over a six month period during 2009. Technology is helping consumers get the fashion they want, ax restrictions, export restrictions, and inflation costs, What is PESTLE Analysis? The clothing business has been growing and booming for the past few years and it continues to grow. Political factors involve the ways and extent to which a government intervenes in economies or industries. Several economic factors influence a company's past, present, and future, and analysts do nothing but study these factors to make proper financial decisions for a company or an industry. Or a specific sex? Retrieved from https://openknowledge.worldbank.org/bitstream/handle/10986/3769/WPS5281.pdf?sequence=1, However, recent increases in the value of the Chinese currency, combined with rapidly rising labor costs, have put Chinese manufacturers in a much less competitive position. Pacific International Lines (Pte) Ltd (PIL) incorporated in Singapore since 1967. It is hard to determine the exact number of suppliers in this industry; but, in general, majority of them are in Asian countries that can provide low-cost raw materials to US-based apparel stores. SWOT Analysis examples #3: Zara. In the end, we hope our readers are now aware of the external factors affecting Uniqlo as well as the framework of PESTLE analysis. Modern Marketing Methods Velocity Clothing could benefit by these by having their name attached to new modern advancements. Much of the supply of cotton was wiped out due to floods which causes the price to go up as well. This PESTLE analysis of the fashion industry takes a thorough look into the many factors that influence fashion as we know it today. Recently, the world has observed a boom in the eCommerce industry. Political Factors This can be explained further in the Appendix. Uniqlo is a famous clothing brand that has its origins in Japan. Will the culture they live in mean new fashionable luxury garments as Velocity Clothing have to offer going to be a very big thing? Strategy planning process often requires five steps -. Having a celebrity wear the clothing product will boost sales for Velocity Clothing. The regulations from the federal and state governments are changing rapidly and becoming more complex. The industry produces world class designs based on creativity and innovation which is functional. Especially when it comes to business, you require advanced technology. As a result, the brand has to protect the laws of its employees, or else it can face heavy fines, which will be bad for the company financially. PESTEL analysis is critical to understand the external threats & opportunities arising because . 2.0 Porters five forces of Levis Strauss Is a new luxury garment going to be even noticed in the culture they live in?Will the culture they live in mean new fashionable luxury garments as Velocity Clothing have to offer going to be a very big thing? This industry mainly sells clothes and accessories, from local or foreign brands, small brands, or luxury brands, depending on the consumer's economic condition and needs. This article highlighted the external factors affecting the operations of Uniqlo. For example, the clothing brand has to be very careful in dealing with employees in countries where employee protection laws are strict. We all wear clothes depending on the type of occasions, sometimes they can be less flashy and sometimes they are jazzy, but each outfit is a result of the fashion industry. Substitutes level of threat depends on the amount spent per capita on clothing items, as this affects how much emphasis may be placed on either price or brand loyalty. Watch this video if you if you want to understand key concepts of PESTLE analysis. However, there is described the PESTLE Analysis Example and its factors. In turn any changes in these prices could affect the price of the product when being bought off the shelf by the consumer. Annual Revenue. Table 2 depicted, (PESTEL) Political, Economic, Social/ Cultural, Technological, Environmental and Legal external factors. Since then, the PESTLE analysis has become a popular strategic tool to assess the macro environment of organisations . What is PESTEL Analysis? Pestel is a strategic analysis tool used by organizations to scan the macro-environment in which they operates, helps to identify external factors that can affect the organization's business activities and performance (Gockeln 2014). PESTEL factors. 5. Social factors: the impact of musicians and everyday life. Moreover, the clothing brand also maneuvered its marketing strategy and started following in the footsteps of Gap. Dependence on Imports - The large majority of clothes sold in US stores is made abroad by low-cost manufacturers. Detailed PESTEL Analysis of Fashion Industry, Everything in desktop + Templates Community, Join 2023 Edraw Special Sales. This is an example, If government intervention was removed from all segments of the new T-shirt value chain, the current leading producers would gradually lose their dominance as global competition intensifies. Get 22% Off before it's gone >>, https://freepestelanalysis.com/pestel-analysis-of-fashion-industry/, https://www.google.com/amp/s/pestleanalysis.com/pestle-analysis-of-the-fashion-industry/, 4. In this section, we will share a fifth of the five pestle analysis examples. It aims to explore how some of the political, economic, social, technological, environmental, and legal factors influence the UK fashion retail industry. Similarly, technological factors greatly impact Uniqlo since the clothing brand significantly muse technology to carry out its operations. Keeping up to date and providing clothing that is fashionable and attractive to the desired target audience is extremely important. Changing fashion trends within a society is something that Uniqlo closely monitors because it has to keep up with the trends that exist in the society where it operates, or else the brand can experience a drop in its sales. PESTLE Analysis helps to find opportunities, threats, strengths and weaknesses . An Important Business Analysis Tool, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. Looking at Uniqlos success story, today we have decided to conduct a Uniqlo PESTLE analysis. Available at: https://www.google.com/amp/s/pestleanalysis.com/pestle-analysis-of-the-fashion-industry/ (Accessed 31 August 2022). Green Brand Image 2nd ed. It comprises of more than 5,000 stores under several company products, and equivalent to 126,000 positions. Thus, the social and cultural factors that the fashion industry is dependent on are as follows: Today, technology is no more a choice but a need. SWOT Analysis of Fashion Business. Economic growth means that people are going to spend more on shopping. FSA Practice Essay: Clothing Over Time 1119 Words. How to secure financing as a small business owner, How to Make a Business Plan for Any Business, 7 Crucial Macro Environment Factors to Include in Your Analysis, Macro Environment Examples in the Real World. These factors are the most important tool to analysis the organization. Purchasing typically requires long lead times, limiting a company 's ability to react quickly to fashion trends, started outsourcing more, consuming more, using more resources, and paying less (The True Cost). In order to explicitly analysis the clothing industry, emphasis must be laid on Textile, PESTEL ANALYSIS The company has a variety of clothing for both men, women and children and home products as well. Hence, high levels of inflation will adversely affect the sales of Uniqlo. The technological factors that impact the fashion industry are as follows: Environment-friendly behavior can take a company a long way and make it a successful business. The larger changes that may occur overtime are much more significant and can impact Velocity Clothing greatly. Apparel and fashion businesses should consider the following factors while trading globally . The framework examines opportunities and threats due to Political, Economic, Social, and Technological forces. For example is an old aged pensioner more likely to buy a brand new latest fashion luxury garment that is extremely popular with the younger generations? What comes to your mind when you think about Japan? Wars & Conflict Velocity Clothing use materials imported from various countries. The reason for conducting a Uniqlo PESTLE analysis is to highlight what external factors affect the brand's operations. Fashion and Role Models What consumers buy is largely influenced by. A Canadian Approach to the Apparel Global Value Chain, [online] Available at, American Apparel ran into many risk factors such as finances and growth which included the ability to gauge fashion trends to consumer preference while still being able to be highly competitive (American Apparel, 2012). Italy today is divided into 20 regions, five of which have special status, with special . Because the EU textile and clothing industry is a leader in the world market, and its product is required all over the world, the European Union work to ensure a level playing field and inaugurated free trade agreement in the EU-28 through the application of the world trade organization agreement (WTO). To achieve such aims, data were collected, reviewed and analyzed within the industry. This critique is a reflection of Strategic Industry Analysis of clothing Industry in United Kingdom, Italy and France. Its smartphones, PCs, tablets, Music players, and TVs are very popular. Moreover, as social media usage increased, Uniqlo started using social media platforms like Instagram and Facebook for marketing. Different factors are involved when it comes to deciding what this should be. Suppliers who also are affected by this may put up their prices to cater for the increase in labour costs, which would affect the amount Velocity has to pay. To find the origin of Uniqlo, we have to rewind to 1949 because thats when a clothing brand in Ube, Yamaguchi, was established. The PESTEL analysis shown in the appendix portrays some of the issues in the external environment that a firm manufacturing and supplying luxury men's clothing may experience. Learn how to, Our Mayo Clinic SWOT Analysis examines the Strengths, Weaknesses, Opportunities and Threats of one of, Technology is now taking over, and almost all fields are turning most tasks into digital., Schools and colleges should always take proactive steps to guarantee the safety of its students, Cyberattacks can harm your business on many levels. In this way, the technological developments significantly impact the operations of Uniqlo. Primark is one of the top leading companies in the retail clothing industry in the UK. Suppose political instability causes protests and political demonstrations in the area where Uniqlos outlets exist. Moreover, Uniqlos operations in different countries can be affected since they highly rely on good political relationships. By Velocity Clothing being fashionable and perhaps endorsed by celebrities will make a greater public awareness of the clothing product and will also make the product to be viewed in a better light. EdrawMax lets you share your PESTEL Analysis diagram on social media platforms, like Facebook, Twitter, Line, etc. Head to the Template section on the left and type 'PESTEL Analysis' to see all the pre-built PESTEL Analysis templates like Netflix PESTEL Analysis, Amazon PESTEL Analysis, IKEA PESTEL Analysis, and more. What is the level of wealth like in the area? 1 to further back this up. For example, unprecedented changes in weather will cause the demand for seasonal clothes to fluctuate. Since Zara produces and sells most of its own product, and their advantages of doing so, both retail chain suppliers and end consumer switching costs should be looked at. In 2015, it achieved global sales of $20.8 trillion. These are the changes that have affected today's clothing. Ottawa is the capital of Canada. Technological. You can gain more insights about the different PESTLE analysis factors below: 1. For example, intellectual property laws provide security to the brand and make it easier for it to function. PESTLE analysis factors. This information needs to be considered when selling the products and considering the target audience. d) Wholesale/Retail sales and e- commerce. Mango PESTLE Analysis examines the various external factors like political, economic, social, technological (PEST) which impacts its business along with legal & environmental factors. Since Uniqlo is a multinational brand, it must keep an eye on global politics, or else it can suffer. Similarly, businesses are also affected by environmental factors. However, even in the time of recession, the retail industry had maintained impressive sales. Part 1- provides an interesting framework for understanding issues with strong economic, political and business ties. . the attractiveness of an industry. The brands and retailers face various challenges in a wide and ever-expanding market. The. PESTLE Analysis Of The Fashion Industry., [online] PESTLE Analysis. Threat of new entrants low Introduction Moreover, clothing is linked with ethical values in many societies. For example, a PESTLE analysis could help a clothing business to decide . This form of analysis is beneficial in the long run as it helps the company and industry analysts to figure out the influence that the six external factors, namely political, economic, social, technological, environmental, and legal, have on the discussed company or industry. A PESTEL analysis or PESTLE analysis (formerly known as PEST analysis) is a framework or tool used to analyse and monitor the macro-environmental factors that may have a profound impact on an organisation's performance. The PEST analysis is a valuable method or framework for assessing and monitoring market growth or fall, as well as a business's position, potential, and direction. By continuing well assume you board with our. Zara. 804-506-0782 Environmental Regulations With the world trying to be more green and cut emissions in every way, regulations that already exist and the threat of new legislation which could mean that Velocity Clothing must cut emissions further could prove costly, by either being forced to invest in new technologies or find new ways to cut emissions, the consequence of not abiding by such regulations could mean getting fined and damaged reputation. . The US apparel stores can instead purchase from these other Asian countries. Government protectionist measures such as subsidies, quotas, and tariffs have limited economic success to a fortunate few. More Energy Efficient Systems Will reduce the overheads of gas and electricity and general production costs which could have a knock on effect for Velocity Clothing. 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