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Case Study Report Contents Contents 2 PESTEL analysis of UK Fashion Retail environment 2 Political Forces 2 Economic Forces 3 Social forces 3 Technical forces 3 Legal Forces 4 Key trends potential trends 4 Environmental forces 4 Analysis and evaluation of the organisation and its competitors 5 Future strategic direction, goals and objectives 6 Conclusion and final justification 8 References 8 PESTEL analysis of UK Fashion Retail environment Political Forces One of the key political decisions which affect the industry is the rate of tax levied on the retailers by the governments.
According to the latest figures unemployment is down to 7.4 percent. In 2008, the global financial crisis led UK into the deepest and longest recession ever in their history. But the good news is that the consumer spending is rising because of cheap and easy credit. The GDP of the country which is the main economic growth indicator rose by 0.8 percent in Q3 2013. This shows that the country is slowly recovering (Henry, 2008, p. 217). Social forces The changes in social and cultural factors have a profound effect on the fashion industry. The shopping habits in UK are beginning to evolve because of the rapid ageing population and migration trends which are changing the ethnic makeup of the towns and cities. According to KPMG, over the next ten years, around two-thirds of all the retail spending growth in UK will come from people who are aged 55 or above. The main challenge to the Fashion retailers in UK is to come to terms with the ageing population of UK and change their product portfolio according to their specific demands and tastes. ...
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