Bama 517 Individual Assignment 1: Questions for the Secondary Research Quiz

BAMA 517 Individual Assignment 1: Questions for the Secondary Research Quiz

IBISWORLD

1. What percentage of products and services in the family clothing stores industry is represented by:

1. Women’s apparel:

42.0%[pic 2]

1. Men’s apparel:

24.1%[pic 3]

1. Who is the main target market for this industry?
   Consumers in the highest income quintile [pic 4]
2. List the 5 key success factors IBISWorld has identified for this industry.

1. Having a clear market position: A clear market position projects a clear and consistent company image
2. Ability to control stock on hand: Adequate stock control is necessary to reduce inventory costs and avoid shortages
3. Production of goods currently favoured by the market: Products should be in line with current fashion trends
4. Establishment of brand names: Products stocked should include recognizable brand names
5. Attractive product presentation: Store layout and product display should compel purchases

PASSPORT GMID

1. What is the brand share of the apparel and footwear industry in the United States in 2017 for:

1. The leading competitor:

6.7%[pic 5]

1. J. Crew:

           0.6%[pic 6]

1. Please list the three trends Euromonitor International has identified for the apparel and footwear industry in the U.S.

• Emergence of New Consumerism featuring sustainability, simplicity, thrift and authenticity: Consumers’ willingness to buy high quality clothing with environmental credentials has inspired brands to become creative and focus on experienced based advertising and unique retail environments

• Growing Competition from Internet Retailing: Online retailing tend to offer consumers the best prices and widest product variety as well as time-savings. The growing competition from the online players forced the leading players to employ omni-channel strategies to enhance customer convenience by offering same-day delivery, “buy online/pick-up in store” capabilities and easy exchange/return policies for products sold through their websites in select locations

• Sportswear to Dominate the Apparel and Footwear Category: Sportswear has been predicted to be a vital part of the consumers wardrobes, as consumers interest in health and fitness endures

WARC

1. During the initial company restructure, what actions did Crocs take to seize the opportunity for a turnaround?

During the initial company restructure the following actions were taken by Crocs to seize the opportunity for a turnaround:

• Implemented operational changes,
• Streamlined its retail presence and,
• Discontinued a number of unpopular shoe styles

1.  What is Crocs major competitive advantage?
   Crocs major competitive advantage was its unique piece of footwear called “Clog”. Crocs conducted a series of interviews with the shoe designers and found that the clog was more than just a shoe and concluded by recognizing clog as its global symbol.

BUSINESS SOURCE COMPLETE

1.  From your results list, identify two articles that look like they will be useful for your analysis of the J. Crew case, and enter the full APA article citations below. (Note: The articles chosen cannot be from those already listed in the references section of the project overview introduction to J. Crew.)

Lee, S. H. N., Ha, B. J., & Chow, P. (2018). The moral responsibility of corporate sustainability as perceived by fashion retail employees: a USA‐China cross‐cultural comparison study. Business Strategy & the Environment (John Wiley & Sons, Inc), 27(8), 1462–1475. https://doi.org/10.1002/bse.2196