Cultural factors affecting the apparel industry

Inthe Bureau of Labor Statistics predicted that the existing 1. High class fashion is no more the privilege of upper end consumers because, it has been made affordable using technology and new techniques. To maintain its position in the athletic shoes market, Nike Inc. It affects how we behave and what we buy.

For related reading, see: Manpower, land and raw materials are vital to the productivity improvement. The result is consumes are flocking to fast fashion avenues. There are other laws related to international trade too that require compliance.

There are many factors which can influence productivity in textile industry. Government policies and programmes are significant to productivity practices of government agencies, transport and communication power, fiscal policies interest rates, taxes influence productivity to the greater extent.

Reacting to the social factor can help Pepsi cash upon the opportunity. A strong supply-chain relationships are of extreme importance for inventory control.

For example, the scarcity of certain materials, such as leather, may force retail and wholesale clothing companies to sell more faux or substitute leather products.

A large part o the 21st century growth story of fashion retail can be attributed to the technological developments that have happened in this era. Technology has disrupted several things and apart from improved production and supply chain, it has also brought greater effectiveness to the sales and marketing of fashion products.

These factors affect the clothing industry in different ways. Nokia had to make efforts to keep its products updated as the buyers saw it as a fashion icon. World food shortage predictions can lead to call for more investment in food production.

The level of competition in the industry has also affected individual brands and their sales and profits. It has to maintain the strict differences in cultures around the world. Due to the increasing use of IT and telecom, Indian consumers have become aware of brands and shops for lifestyle and value brands according to the need and occasion.

Retailers may increase the prices of cotton clothing if they encounter shortages of this raw material, as they must pay their manufacturers more.

They are reconsidering rejection of genetically modified foods now. In Canada, however, the fashion designer has to meander through a myriad of intellectual property laws to garner protection, although none that are specific to the entire fashion piece.

Nike Inc. PESTEL/PESTLE Analysis & Recommendations

Regardless of their current financial situation, consumers are more likely to purchase greater amounts of consumer goods when they feel confident about both the overall condition of the economy and about their personal financial future.

During economic boom periods, people have more disposable income. The reason that the Russian economy has kept suffering is because apart from low oil prices, tensions with the West have also rocked it. Economic Factors Important to Nike Inc. Even if the quality of fabric is not as great as the luxury brands, it is good enough and in terms of style and design, these fast fashion brands are hardly behind.

In the case of Nike and its sports shoes, apparel and equipment, the following ecological external factors are notable: · The apparel industry is one of the oldest, largest and among macroeconomic, socio-cultural, technological, demographic and global factors that might affect the organisation’s activities.

On the other hand, the competitive environment factors, several studies have revealed that size, age simplisticcharmlinenrental.com The Textile sector is a major contributor to the economy of Pakistan; hence, it is vital to study the factors affecting the growth of this major industry because it reflects the state of the economic health and macroeconomic policies that govern the state.

· The aim of this thesis is to research the most influencing factors affecting the Telecommunication industry growth, by analyzing data for both Chinese and Indian Telecom simplisticcharmlinenrental.com://simplisticcharmlinenrental.com Social factors affecting business include buying habits, education level, and religion.

Two examples of the impact these factors have on leading companies. Menu. You will also have to look into the cultural changes which take place in your business environment. Market research is a critical part of this step.

Industry Factors & Trends

· Macroenvironmental factors affecting the clothing industry are those which lie outside small companies and their competitors. Business owners have less control of these external factors, and their simplisticcharmlinenrental.com  · Fierceness and fabulousness aside, the fashion industry is a serious (and lucrative) business.

It is estimated that the fashion industry generates $ million for Ontario annually. In fact, Toronto is home to the third largest design workforce in North simplisticcharmlinenrental.com://simplisticcharmlinenrental.com

Download
Cultural factors affecting the apparel industry
Rated 3/5 based on 2 review