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Essay example - Development proposal for UK Fashion footwear retailer
Pages 11 (2761 words)
PROPOSAL FOR LIGHT FEET LTD FOOTWEAR RETAIL IN THE UK Instructor Institution Date Porter’s Five Forces Analysis The Threat of Substitutes Light Feet Ltd will face market challenges within the UK footwear retail industry and market which mandates it to employ appropriate strategies so that these challenges are overcome…
Extract of sample
There are substitutes within the UK for retail shops for footwear that Light Feet Ltd must be aware of. A list of the footwear retailers in the UK that would be substitutes for Light Feet Ltd’s substitutes are listed below. 1. Wynsors World of Shoes 2. BananaShoes 3. Barrats 4. Schuh 5. Daniel Footwear 6. Jones Bookmakers Key Note (2012, p. 1) points out that the UK footwear market demonstrated an increase in expenditure by consumers on foot wear by 18% in 2008. This expenditure is related to the fact that substitute retail shops have led to competitive pricing for footwear and a resultant motivation of consumers to make more purchases. Light Feet Ltd requires to be aware of the competitive business environment within the UK footwear market so that managerial decisions on strategy and competitive advantage would be focused at overcoming the threat that substitute retail shops for footwear would pose on the company. In accordance to Business Wire (2012, p. 5), the switching costs of consumers within the UK footwear market are relatively low. This means that consumers would easily change the retailers from whom they buy footwear to substitute dealers without incurring significant costs. ...
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