How To Start A Clothing Line?
1.1 Industry Analysis and Trends
It is very important to analyze the market conditions in order to start a business. Out of total retail stores, 64 % of the stores represent the non durable product stores. The revenues of the industry are approximately 1.3 trillion in dollars. The sales of the durable products are summed up as 757 billion dollars.
The Guide to Retail Business Planning quotes that there are sales of about $2.34 trillion which are 1.5 million more than establishment in the year 1995. The sector of non durable retailers had grown in the year 1995. It became the second largest sector in the economy. In the recent era the retail industry has faced a lot of changes. Retail industry is the domain industry of the small businesses in the economy. Small businesses represent the 75 % of retail stores. The discount stores have grown to a great extent in the recent past. Some industry analysts say that the discount stores have 3 times. The retail store like Wal-Mart is responsible for generating 1 job out of 16 new vacancies in the U.S. The retail customers of this era are much changed than the retail customers of the last decade. The perceptions, behaviors and attitudes of customers are much changed. It is need of the day to make new strategies for the businesses to deal with the new changes of he customers’ behaviors.
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