PESTLE Analysis of Fashion Industry Pestle

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This video explains PESTLE Analysis of Fashion Industry • It will help you to learn what makes fashion evolve. Who directly impacts new trends? What obligation are designers and retailers forced to follow? • So, this PESTLE analysis of the fashion industry takes a thorough look into the many factors that influence fashion as we know it today. • Political factors • The government has the ability to encourage companies to buy fabrics locally, especially if the taxation on imports from other countries increases. • We also cannot forget about the political influence on fashion trends. The first ladies have all found themselves in the limelight for their clothing choices. It began with the idolization of Jackie Kennedy in the 1960s and continued more recently with Michelle Obama and Melania Trump. It also occurs in other countries, like in the United Kingdom, with Prime Minister Theresa May. People in the government Houses are openly discussed and used as meditators for fashion inspiration. • Economic factors • People who are low-income or live in an area with a high unemployment rate, need their income to go to survival staples like food and rent. • We are seeing an expansion of rentable clothing, both formal and casual. The service is cost-effective and most of the options are fashionable, depending on the person’s tastes. • Social factors: • Music has always had a massive impact on fashion. Music videos are where musicians show off the clothes their viewers will want to buy ASAP. It is common to mention brands in songs. “Anaconda” by Nicki Minaj and “Fashion” sung by Lady GaGa both mention expensive brand names in the lyrics. • Watch the video to learn more. • Technology • Online shopping is a dream for so many people. Instead of visiting busy shops and manually looking for clothes you might like, you can surf through an online category, pick the size you want, and have it delivered in days. • The internet has sparked the ability to open up your own shop and sell your clothes. • We also have shown on television that contribute to the love, discussion, and growth of fashion. Project Runway (and its counterpart, Project Runway: All Stars) has been the leading fashion show for the last decade. It is even spread worldwide. It is a reality show where talented (but basically no-name) fashion designers join the show to become a household name. Another show, Fashion Startup, features people who are developing fashion products and need investors to help them get to the next level. • Technology is helping consumers get the fashion they want, but also encouraging designers to mark up the world with clever designs. • Legal factors • The fashion industry must follow similar legal rules and regulations like any other business. To stay legal, they follow tax restrictions, export restrictions, and inflation costs. They must also maintain workers’ rights, but this becomes uncertain when companies have their products made in foreign countries. It is known many fashion retailers have Asian workers sew their clothing for ridiculously cheap, but many consumers are boycotting these brands. • Environmental factors • Yes, fashion has an impact on the environment, and it is not a good one. • Many clothes are made from cotton, but first, it must be picked then shipped all over to be sewn as denim. Chemicals easily make their way into the cotton, meaning those jeans you are wearing could be soaked in hazardous compounds. Not to mention how cars, jets, trains, and other methods of transportation releases gases and smoke into the environment. It is a massive amount just to get the jeans from the factory to the store. • ▶ABOUT TALENT AND SKILLS HUB • We believe that every individual is born with skills, talents, and affinities, and that when nurtured with supportive tools in an optimal environment, these capabilities can be developed to achieve excellence and create further opportunities. • ▶If you want to start a business you love or develop Your Dream Career, you can contact us to guide you on How To Plan, Design and Launch Your Dream Career or Business WITHOUT Wasting Time or Money • ▶Our goal for you is that you will know the exact steps you need to take to actualise Your Dream. Therefore, we create an environment that supports you to achieve Dreams. • ▶Support this Channel by Subscribing to it and receive further video updates • ▶SOCIAL MEDIA • Facebook: @TshubEnablingEnvironement • Instagram: / talentandskillshub • ▶BUSINESS INQUIRIES FURTHER SUPPORTS • Email: [email protected] • Website: http://ts-hub.com • #PestleAnalysis • #FashionIndustry • #Talent SkillsHub • #pestleanalysisexample #businessstrategy • #strategicmanagement • #competitiveadvantage • #marketingstrategies • #marketingplanfashionindustry • #fashion • #plussizeclothing • #clothing • #fashionretail • #clothingindustry • #2021trendsfashion • #fashiontrend2021

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