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Prepare a report for a large fashion clothing retailer trading in the UK identifying macro and micro environmental changes

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    An internal and external analysis of Primark and its business environment since 2020 reveals a number of challenging trends and issues that Primark needs to address in order to continue the success it has enjoyed for the last 10 years. Some of the recent macro challenges include the impact of COVID-related restrictions, supply chain issues, and more recently, inflation, on top of persistent rising energy and sourcing costs, which previously forced retailers to increase prices. Primark’s sustained success in the last decade shows it has had no major problem but more of a challenge to maintain the lowest prices in the market. Turnover grew by 40% in 2022 to £7.7billion, up from £5.59billion in 2021 after two years of declining revenue when its stores had to be closed during the Covid-19 pandemic, losing more than £1 billion in sales, compared to its rivals with online stores who experienced smaller or no financial losses. The fashion retailer has since November 2022 started experimenting with e-commerce, after launching a Click and Collect in 25 UK stores. Recommendations are offered in the report to help Primark sustain this growth despite arising constraints and challenges.

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    Essay question (2,250words)

    Prepare a report for a large fashion clothing retailer, trading in the UK that: a) Identifies key relevant changes in the UK fashion clothing market and b) Suggests and discusses strategies and tactics that could be used by the retailer to respond to the major changes occurring in the fashion clothing market. 

    For this assignment, the large retail store should be picked from the following list: Next Retail, Marks & Spencer, Primark, TK Maxx, H&M (UK), New Look (UK), Matalan Ltd, Inditex UK, River Island Clothing Co Ltd, Aurora Fashions UK, SuperGroup Plc, Monsoon Accessorize Ltd, Gap UK, Sports Direct, JD Sports, Asos, Boohoo, Boden, Missguided, Nasty Gal, PrettyLittleThing, Zara, Zalando, and Mango.

    Please start it off with a content page, then include an introduction, then PEST analysis, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, and conclusion.

     


    Case study of a large clothing retailer in the UK identifying macro and micro environmental changes


    Key Learning Outcomes

    By the end of the case, students should be able to:

    • Understand the broad macro-environment and micro-environment of a large fashion clothing retailer trading in the UK.
    • Evaluate an organization's strategy and business environment, and how they affect its operations and strategic position in a market, using concepts such as PESTLE, SWOT, Porter's Five Forces, and generic competitive strategies.
    • Understand the concept of strategic analysis and how to apply it to a real case study company.

     

    1.0 INTRODUCTION


    Primark is an apparel and accessories retailer headquartered in the UK. Founded in Ireland as Penneys, it opened its first outlet in the UK in 1973 under the Primark brand name. A subsidiary of Associated British Foods, Primark has expanded to 407 stores globally as of 2022, including 154 stores in the UK. Turnover grew by 40% in 2022 to £7.7billion, up from £5.59billion in 2021 after two years of declining revenue when its stores had to be closed during the Covid-19 pandemic. During this time, Primark lost more than £1 billion in sales, compared to its rivals with online stores that experienced smaller or no financial losses (Annual Report 2022). 

    Before the Covid-19 pandemic, Primark had defied retailing trends, the only specialist clothing retailer to have achieved year-on-year market share growth since 2013, rising from 4th in 2013 to 2nd just behind market leader Next Group PLC to make the list of the top specialist clothing retailers in the UK. 

    While 2022 sales have recovered and remain close to pre-COVID levels following the end of COVID-related restrictions and the resumption of "more normal" shopping behaviour, the UK clothing retail market continues to face major challenges following the end of coronavirus. The clothing retailing industry in the UK is still contending with supply chain issues, and more recently, inflation, on top of persistent rising energy and sourcing costs. 

    This report will use the case study of Primark as a large fashion clothing retailer to examine the macro and micro environmental changes in the UK fashion clothing market.

    Using frameworks such as PESTLE, SWOT, Porters Five Forces, and generic competitive strategies, the report will undertake a strategic overview of Primark including its financial performance, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, and many others, before looking at the relevant changes in the UK fashion clothing market between 2020 and 2023.

    The report will conclude with suggestions and a discussion of strategies and tactics that could be used by the retailer to respond to the major changes occurring in the fashion clothing market. 

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