Political: We will be selling physical products (clothes) therefore due to the election coming up new laws could potentially lead to things such as higher tax. Which would mean people would have a low disposable.
Economical: Our brand sells clothing. Although we are not premium priced, companies that sell clothes at discounted prices for example TK MAX or even online fast fashion for cheap prices like ecommerce businesses may be threat for us. Also the British pound is very strong at the moment therefore if the clothes are made in Sri Lanka for example. We would be paying workers less for more.
Social: Due to social media more people are likely to want to stay in trend and want to follow the latest fashions. Our clothes are extremely trendy and we have used many marketing methods to promote that. As well as this due to social media people are more likely to shop online hence why we have our website accessible to use on phones. Technological: we can interact with our customers using many technological ways such as all the forms of social media we use, our mailing list and through online competitions.
Legal: Working with such a big company such as 'SkinnyDip London' could be risky as many big companies tend to avoid tax. For example Google. Therefore this could affect the collaborations legality.
Environmental: Weather issues such as a storm could potential knock down one of the factories we use to make our clothes in. In addition our factories will contribute to pollution.
Due to social media more people are likely to want to stay in trend and want to follow the latest fashions due to the likes of celebrities, bloggers and influencers. Strictly Denims clothes are extremely trendy and we have used many different marketing methods to promote that. As well as this due to social media people are more likely to want to shop online hence why we have our website accessible to use on phones as well as on a computer. In addition on our website we have a blog page as an extra way to connect with our audience on a more personal level. This can help to grow a community.
TECHNOLOGICAL
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Legal issues can effect a fashion brand servilely these days. For example labour laws. Many people these days are more aware of sustainable fashion and what goes on behind the scenes of fashion brands in other countries. The labour and rights of workers is highly important to people. It’s crucial to make sure you are doing everything correctly by the law book to avoid future problems.
Environmental factors are big in the fashion industry. The percentage of wasted clothes is high and this leads to land fill which is a major problem. Therefore its very beneficial to have some sort of sustainable method within a brand. One future idea Strictly Denim have thought of is teaching people to ‘re use ‘ ‘re vamp’ their denim items, this can overtime contribute by reducing the amount land fill as denim does to a while to biodegrade.
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SOCIAL
Technological factors are extremely important to Strictly Denim as we are a ecommerce business. It’s our job to ensure customers get a good online personalised experience. Technology has allowed ecommerce businesses to sell more to a wider audience. Having a physical shop with one warehouse to store stock can limit your growth as a brand to reach people internationally where as with an ecommerce business there's no limit as to what customers you gain daily. In addition this means you can work from home without having to turn up to a store everyday which can become time consuming. Technology also allows me to provide my customers with a fast professional service
LEGAL
ENVIRONMENTAL