Technological factors affecting the retail industry

Productivity is an economics term which refers to the ratio of product to what is required to produce the product in textile industry.

The transition of these baby boomers to retirement is one of the more interesting generational trends in the last century, and the retirement of these baby boomers, which began back inis bound to be noticed in the market for decades to come. For instance, inthe Supreme Court ordered the closure of a number of tanneries in Kanpur as they were polluting Holi Ganga.

And although some of these aforementioned factors suggest a clear-cut relationship between the factor and the market, in practice, the results can be very different. Also involved are cultural setting, nature of political institutions, laws, policies and administrative structures.

Retail ERP packages have been implemented by large retailers but today they are experiencing difficulty in utilizing it fully, one of the key reasons could be the lack of adequate training.

Changes in the structure of a population will affect the supply and demand of goods and services within an economy. For example the Internet is having a profound impact on the marketing mix strategy of organisations. The growing desire for internet connectivity has given Starbucks an opportunity to rebrand their coffeehouses and stand out from the competition by providing free WiFi.

Macroenvironmental factors affecting fashion retail

For instance, the nature of goods and services to be produced depends upon the demand of the people which in turn is affected by their attitudes, customs, so as cultural values fashion etc. For example, the baby boomers who were born between and are an example of a demographic trend with the potential to significantly influence the real estate market.

Efficient use of input may increase productivity but the volume of production may not increase.

Emerging Themes Affecting the Fashion Retail Industry

On the flip side though, a global rise in internet connectivity might mean less interest in traditional communication means, which is a negative consequence for some — telephone service providers will have to change their offerings to stay relevant, while paper-and-ink printing companies might receive less business.

An increase in demand will create the need for more space, human resources, and a change in the management structures. Volumetric production of SMUs for the semiconductor industry to achieve lower economies of scale is one of the trends to observed in the coming years.

Information may be exchanged through two fundamentally different, yet complementary, channels of communication. The increase of digital device consumption and affordability of internet services has further led to the expansion of online activities, including e-commerce platforms. A controllable or internal factors and B un-controllable or external factors.

Also, key source measure unit market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. Optimum energy utilisation and energy savings. According to this model, technological change is seen as a social process involving producers and adopters and others such as government who are profoundly affected by cultural setting, political institutions and marketing strategies.

Trialability can accelerate acceptance because small-scale testing reduces risk. This is attributed to the features of the modern society, in which affordability, efficiency, and sophistication Carey et al. Diffusion[ edit ] Diffusion pertains to the spread of a technology through a society or industry.

For instance, the Government of India, bottling and sale of cocoa-cola was discontinued in India in the late seventies following policy of restricting the growth of multinationals in Indian markets. A person sees an attractive handbag or clothing and technology provide more details regarding the price, the point of access, or similar models.

He is working with one European textile machinery company as a country agent. There are many factors which can influence productivity in textile industry.

Social The third aspect of PEST focuses its attention on forces within society such as family, friends, colleagues, neighbours and the media. There are several macro-environmental factors affecting the fashion retail industry. While businesses and brands in this industry do not have a significant degree of control on these factors, they must adapt to them to remain competitive and be successful.

Factors Affecting The Kuwait Restaurant Industry Published: July 27, The Kuwait restaurant industry is shaped by a number of factors, including macroeconomic conditions, technological trends, and the investment/M&A climate. industry, supporting banking industry by investing on ICT infrastructure and banks needs to be focused on technological innovation competition rather than traditional bases of retail bank competition.

Factors affecting the growth of Retail Business in India January 29, Pay1 Merchant Retail Business today is one of the quickly growing channels & playing an important role in emerging economic growth of the country. Emerging from the research are 10 trends and retailer considerations compiled in Synchrony Financial’s latest brief, 10 Things to Know – the Top 10 Retail Trends for The increasing importance of technology in retail is reflected in most of the trends topping the list: 1.

Impact of new technology in clothing industry The fiber and textile production and the manufacture of clothing lead to the industrialization in the developing world. The technology made the machines to be ease and speed and process technology to new modes .

Technological factors affecting the retail industry
Rated 5/5 based on 16 review
Impact of Technology in Retail Industry