Apareal Industry - Spelt Analysis

Published: 2021-09-05 17:00:10
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Category: Business

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Table of Contents

Industry Background 3
SPELT Analysis 4
Market segmentation, demographics, and customer Preferences 9
Major Competitors and Market Share 11
Competitor 1: Lululemon Athletica 11
Competitor 2: Nike 12
Competitor 3: Adidas AG 12
Porter's Five Forces 13
Financials on Current Balance Sheets and Income Statements 18
Competitor 1: Lululemon Athletica 22
Competitor 2: Adidas AG 23
Competitor 3: Nike 24
SWOT Analysis 25
Strategic Recommendations 28
References 31

Apparel and Accessories have been a staple to our wardrobe since as long as we can remember. In simple terms, the world is clothed by the apparel industry making up a number of supply chains to get the end result to the consumers. As the Great Recession of 2007-2009 came and forced companies to lower margins and fabrications, they continued to sell their brands compromising with what the consumer was willing to offer when they walked into a retail store. `Companies had to become flexible, innovative and most importantly, forecasting the right size units for their retail store in order to stay profitable.
It was a difficult time for all companies around the world but as they were slowly crawling their way out of the Recession, many brands made it out successfully selling and bringing in revenue in order to survive. Many others were hanging by a thread as they were having difficulties dealing with employment, escalating prices on cotton, labor and transportation. When choices became narrow, costs had to be passed on to the consumer. It was the only way to continue to grow and keep brands alive.
As companies continued to find opportunities to grow, e-commerce became the top choice because of the low overhead costs and the ability to reach consumers internationally. Consumers are the main priority; we need to make decisions by implementing business strategies around them. They are the ones that make Apparel and Accessories revolve. It is by the trends that people come up with that bring demand to the market place. This is also the start for Research and Development, taking in that idea from the media and turning into a product of choice with varieties so that it can sell for the months ahead.

SPELT Analysis
In the social media, companies are always looking forward to expand. They want to attempt being different from their competitors and produce goods that are not available in the market. As we slowly head toward the trend of being environmentally friendly, apparel companies are beginning to adjust to the demand by turning the idea and implementing it into the daily clothes people buy. They are marketing it by bringing awareness to their consumers so they know what they will be buying. Companies now are positioning themselves as "green brand" targeting conscious spending consumers (Driscoll, 2011, page 15). As clothing's are being manufactured, "an environmentally labeling program was enforced" for its suppliers to disclose how the product was being produced from raw material (Driscoll, 2011, page 16). This leads to how some companies are trying to dedicate in production by "eliminating carbon footprint and having a vision to a sustainable enterprise" (Driscoll, 2011, page 16). It not only sounds good but for cautious consumers who want to make a difference in the world for a greener environment, it will entice them to become loyal to the brand and easily recommend to others by word of mouth or social media to follow along.

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