Pestle Analysis Of Fashion Industry

1. Company Introduction and its industry.

As the fashion industry have grown considerably fast over the years, it started to play a dynamic part and important role in the peoples’ life, of all ages and of all walks of life. Do you agree that we are all living in a world where we are constantly under scrutiny about our appearance? Girls, women and even men these days are persistently striving to become beautiful and will use a variety of different mediums to achieve this. Some people may find dressing up or looking good a hassle. However, quite a percentage of people also enjoy dressing up and looking good as they feel that it is essential as dressings define who they are based on first impression. Based on the survey conducted on 72 samples,

Sourcing and pricing of product/services

Since such bracelets are generally common in the market these days, the goods required for the bracelet could be sourced easily online on common platforms like Carousell and Qoo10. It may also be possible to negotiate for lower prices since we are getting in bulk. With lower cost in goods, more funds from the business could be transferred to other sectors such as marketing or labour. Despite getting it at cheaper prices, quality will definitely not be overlooked.

After sourcing for various suppliers, we have narrow down to getting the goods from a supplier on Carousell where goods are of good quality and cheaper in prices. More negotiation on pricing and the quantity of the goods will be done on a later date. Also a huge variety of charms and base raging from alphabetical to animals shaped will also be available to cater to the taste and preferences of each customer.

With reference to the survey conducted by the company, 70.7% (29 out of 41 respondents) find it reasonable and affordable if the bracelet is quoted within the price range of $5 to $9. (Refer to Appendix 1.3). According to the seller on Carousell, each charm range from $0.30 to $1.50 and the base ranging from $0.90 to $2.00, subjecting to the length of

These five threats includes rivalry among existing competitors, threat of new entrants, bargaining power of suppliers, bargaining power of buyers and threat of substitute products and services. Being in the retail industry, ‘EMBRACE’ definitely face intense competition from existing established brand like ‘Lovisa’ and ‘Punk Candy’. These retail stores provides a vast variety of bracelet and accessories that are as attractive. These brands is also able to gain customer loyalty easily worldwide due to their chain stores around the