Uniqlo | Professional Homework Help Services

Fast Fashion is a new clothing business subordinate. Typified by short merchandise life cycles, firms competing in the fast fashion industry should bear the capability, within a brief duration and at a significantly lower rate compared to the inventive items, to reproduce designer collections in capitals such as Paris and New York during fashion weeks. The corporations should similarly adapt to expansions and publish numerous collections within the industry in each season. The most substantial difference between accessible, stylish, and high-quality clothing is that fast-mode vendors emphasize an ever-reducing clothing market.

Company Information

Uniqlo is a clothing corporation instituted in March 1949, owning about 1550 stores globally. It is considered the fourth major retail store globally (Yen, 2020). The firm was established to manufacture stylish men’s suits. However, the company later altered to offer informal clothing for each gender. Uniqlo established and embraced the “Specialty Store Retailer of Private Label Apparel” (SPA) concept as its supply chain strategy. The concept has been noteworthy amongst numerous clothing retailing outlets, even in current times. Uniqlo integrates shell fabric about quality, which is the finest within the clothing sector. Uniqlo chose direct consumer criticism product quality to guarantee client satisfaction. The corporation has publicized its expansion strategies in Australia. Australia is considered one of the three in the nation; its major retailing store is the globe’s 37,000 square meters universal flagship store. Together with the freshly opened San Francisco (Union Square, Oxford Street), the implementation offers a plan and principles for additional western business development. The implementation strategy similarly provides other generally popular posters in various capitals—for instance, Paris, London, and Tokyo.

 

Analysis of Target Market

There are numerous aspects to be considered regarding the target market. One of the significant elements is the geographical element.  UNIQLO majorly emphasizes city markets, precisely in Melbourne, Sydney, and the Gold Coast market. UNIQLO may epitomize a wide range of clienteles from the township dwellers to guests, with central localities within Melbourne and Sydney CBD and standard places within Sydney and Gold Coast. UNIQLO may have to change the merchandise selection to a more substantial level, while the Gold Coast setting may require minimal significant seasonal collection alterations. Another aspect is the demographic aspect. In this case, UNIQLO emphasizes the X and Y generation. The primary core audience comprises men, gender, and races of diverse ages. Approximately 30000 youths are considered as a significant target market.

 

The following is the primary target market for UNIQLO:

Key Market 1
Generation and Age 18-25 years
Gender Male and Female
Nationality/Ethnicity Any
Education Qualification Above High school Level
Occupation Any
Topographical Location Cosmopolitan areas
VALS Group Experiencers and Strivers

 

Key Market 2
Generation; Age 28-45 years
Gender Male and Female
Nationality/Ethnicity Any
Education Beyond Graduate level
Occupation Any
Topographical Location Cosmopolitan areas
VALS Group Experiencers and Thinkers

 

Reflecting National Trend

According to Chen and Fan (2017), at the end of 2021, UNIQLO is anticipated to add a 0.6% market share in overall projected estimated sales. Within the three months, the first UNIQLO outlet will be established in Melbourne; then, a second flagship outlet will be based in Sydney in four to seven months. Within the subsequent twelve months, two non-flagship outlets, each in Sydney and Gold Coast, respectively, will be established. Uniqlo focuses on the initial three-month sales level within the subsequent years and maybe suitable through brand acknowledgment, level of acceptance, and building ties with consumers. The two smaller shops established in six months’ duration seek to level both principal outlets’ sales. After the initial stage, UNIQLO recorded increased sales levels, greater sales incomes, and higher incomes after this period of entry into the Australian market and stabilization.

Strategies in Sustaining the Business

A diversified collection of low-cost, inventive, stylish, and high-quality apparel is the crucial goal of UNIQLO’s development. UNIQLO may use essential retail items in numerous colors to differentiate their products and remain viable in a deteriorating industry. For example, the corporation has manufactured socks comprising fifty different socks within a Tokyo flagship outlet. UNIQLO offers an assortment of merchandise, ranging from casual to more fashionable or technical. The merchandise may be retailed to not only conventional youthful clients but similarly to grown-ups. For instance, HEATTECH is an item utilized for interior layers and comprises diverse segregating fibers.

With moderately low prices, UNIQLO may retail high-quality items at lower prices compared to the competitors to Zara and Topshop (Anwar, 2017). The chief objective is to raise the volume of sales and market share due to increasing income by increasing inventory provision and production cost. The establishment of new selling regions and obtaining more catalogs from Asia during any specific order period is anticipated to decrease the cost of operation gradually.

Conclusion

UNIQLO typically remains true to its particular business approach and vision, which only acclimatizes to the Australian industry minimally. The corporation may accomplish short, medium, and long-term objectives of general profit, market share, and complete consumer transactions by delivering inventive wear at a reasonable rate. It will also sustain a universal brand that is a sought-after and fashionable retailer with its renowned models.

 

 

References

Anwar, T. S. (2017). Zara vs. Uniqlo: Leadership strategies in the competitive textile and apparel industry: Global Business and Organizational Excellence. 2017;36(5):26–35. DOI: 10.1002/joe.21805

Chen, Y, L, & Fan, K, K. (2017). An exploratory study on corporate brand image and customer satisfaction on consumer purchase behavior: A case study of UNIQLO, in 2017 International Conference on Applied System Innovation (ICASI), IEEE, pp. 1190–1193. [29 July 2020].

Yen, B. (2020). “Uniqlo: A Supply Chain going Global” http://www.fastretailing.com/eng/ir/library/pdf/presen0801128_nagai.pdf

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