Changes

Changes top shop have to make.

PESTEC

Political factors: If the minimum wage rises and top shop is currently paying out the minimum wage to employees then they will have to raise it to the new legal wage.

The Arcadia group offers a competitive wage as their pay scales in line with current market rates.

http://www.arcadiagroup.co.uk/careers/working/benefits.html

Economical factors:

The economy is going through a rough time and this could affect top shop as a lot of people have recently lost their jobs it means that they don’t have extra money to indulge in new goods from top shop this could affect their sales.

Sociological factors: Top shop is a high fashion industry and this can affect the market as they constantly have to have fashionable goods that people want they have a specific target market which I have found out to be 15-30 year olds

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Top shop has to make sure that they have the products that this age group would want as if they start selling things that don’t appeal to this age group then their business will suffer. Top shop makes sure it knows what its customers wants are and they are high up in the fashion business. Top shop kicked of London’s Fashion week.

Technological factors: Top shop as well as having a lot of stores all of the country and even abroad they also have a web page.

This will boost their sales as people have more of a choice when they chose to shop in top shop. Some towns may not have a top shop which is relatively unlikely but even if they do they can go get their fashion needs online.

Environmental factors: This can affect top shop as the needs from their customers can change say if they weather is worse than usual they will have bring in their winter clothes early as customer demands for these products are high.

Competitive factors:

Top shop have many companies that they have to compete against like businesses such as new look as they have similar collections because of this top shop will have to make sure that they can supply customers with all their needs and supply items that their competitors cant.