PESTLE
Political
-Minimum wage requires employees 25+ to be paid more per hour
-During Brexit the UK currency decreased
-When broadening their business, they take into consideration the stability of the political environment and a countries government policies. The reason for having no business in Syria and Afghanistan is because they are politically unstable
Economic
-Exchange rate on the Great British Pound affects exports and they become more expensive
-Arcadia is part of ACT, A group especially for workers in the textile industry (Asia) which can increase wage rates internationally and then it affects brand costs
-When there is a case of low interest rates and an increase in demand businesses such as TopShop are encouraged to expand, the more money people have to spend, the more TopShop will benefit from it
Social
-Living standards and fashion trends are changing daily which results in higher demand and people spending more money
-A large percentage if TopShops consumers are 20-35 year olds, most have jobs and an income
-TopShop consider location to bring potential consumers in, thinking what will sell well in different parts of the world, e.g. apparently TopShop in Thailand launch a lot of white clothing because Thai believe in Buddhism and white symbolises that
Technological
-Consumers are able to connect well with the brand because of the increasing use of social media
-TopShop utilise eCommerce to draw more customers in, some don't have access to an actual store, some people prefer online shopping, its quicker and sometimes easier to find products
-Customers are able to share opinions on social media sites and TopShop are able to broadcast fashion shows using the same platforms
-They have their own blog, using it to share the latest fashion tips and help promote their products
-TopShop have had to adapt to the latest technology to help stay competitive and relevant
Legal
-Workplace legislation is put in place to protect employers and their employees within the workplace
-Arcadia have a code of conduct guidebook used by all manufacturers
1. Process of setting up new factories and auditing
2. Minimum ethical trading standards
3. Health and safety
4. Working practices on labour topics
-It's used to make sure that employees associated with Arcadia are complying with laws in the UK and other relevant countries
Environmental
-TopShop currently have relationships with suppliers and work with them to make improvements to working, social and environmental conditions
They currently hold a CSR banner, this means they deal with issues concerning stakeholders, workers livelihood, working conditions, lines of production, reduction and of environmental impact from the manufacturer distribution and product sales
-They have to think about their reputation and whats best for the future of the brand only they are currently very unsustainable causing potential consumers to shop elsewhere
-They aren't currently a permanent sustainable brand
-Minimum wage requires employees 25+ to be paid more per hour
-During Brexit the UK currency decreased
-When broadening their business, they take into consideration the stability of the political environment and a countries government policies. The reason for having no business in Syria and Afghanistan is because they are politically unstable
Economic
-Exchange rate on the Great British Pound affects exports and they become more expensive
-Arcadia is part of ACT, A group especially for workers in the textile industry (Asia) which can increase wage rates internationally and then it affects brand costs
-When there is a case of low interest rates and an increase in demand businesses such as TopShop are encouraged to expand, the more money people have to spend, the more TopShop will benefit from it
Social
-Living standards and fashion trends are changing daily which results in higher demand and people spending more money
-A large percentage if TopShops consumers are 20-35 year olds, most have jobs and an income
-TopShop consider location to bring potential consumers in, thinking what will sell well in different parts of the world, e.g. apparently TopShop in Thailand launch a lot of white clothing because Thai believe in Buddhism and white symbolises that
Technological
-Consumers are able to connect well with the brand because of the increasing use of social media
-TopShop utilise eCommerce to draw more customers in, some don't have access to an actual store, some people prefer online shopping, its quicker and sometimes easier to find products
-Customers are able to share opinions on social media sites and TopShop are able to broadcast fashion shows using the same platforms
-They have their own blog, using it to share the latest fashion tips and help promote their products
-TopShop have had to adapt to the latest technology to help stay competitive and relevant
Legal
-Workplace legislation is put in place to protect employers and their employees within the workplace
-Arcadia have a code of conduct guidebook used by all manufacturers
1. Process of setting up new factories and auditing
2. Minimum ethical trading standards
3. Health and safety
4. Working practices on labour topics
-It's used to make sure that employees associated with Arcadia are complying with laws in the UK and other relevant countries
Environmental
-TopShop currently have relationships with suppliers and work with them to make improvements to working, social and environmental conditions
They currently hold a CSR banner, this means they deal with issues concerning stakeholders, workers livelihood, working conditions, lines of production, reduction and of environmental impact from the manufacturer distribution and product sales
-They have to think about their reputation and whats best for the future of the brand only they are currently very unsustainable causing potential consumers to shop elsewhere
-They aren't currently a permanent sustainable brand
Comments
Post a Comment