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Phase 1: Industry Analysis

1301 words - 6 pages

Industry Introduction
The clothing industry is an extremely competitive industry. American Eagle is among one of the most successful companies currently dominating the market. Prior to modern technology, fashion was limited to geographic location or word-of-mouth, but given current forms of mass communication these fashion companies have matured and can be accessed worldwide. American Eagle and its competitors’ products can be found by visiting the local mall, or shopping online from the comfort of your own living room via the internet.
The fashion industry has radically evolved over the past few decades. Instead of just offering clothing, these companies offer a variety of products necessary to engage in their portrayed lifestyle. For instance, the American Eagle clothing brand has embraced the “West Coast” American lifestyle trends including low-rise jeans, jeggings, flip-flops, flat tops, and more. Visiting the American Eagle website a consumer can purchase anything from a cologne, to a keychain that embraces their culture.
General Environment Analysis
In the clothing industry, the general environment is rapidly evolving. Companies must keep up with every trend that applies to the rules of a general environment analysis. Trends in the industry come and go, often times they even reappear at later dates in history.
Clothing companies rely on trends to make a majority of their strategic decisions. Without the ability to adapt to these trends, companies will become stagnant and fail. Trends are the basis of the industry. They are reliant on the demographic of consumers in which are buying their product, the amount of money the demographic possesses, the laws that are created around the designs, and the technology that is used to promote the products.
Culture in the fashion world is the most important trend in the general environment. It affects everything from what is acceptable to wear, to what could become the next “hot” product. The change in culture is what makes the future of the clothing industry unpredictable. Culture creates opportunities and threats to the clothing industry. If a company is not ahead or on par with its competition and the cultural norms are changing, than this would definitely be considered a threat as it would cause the companies’ sales to fall. In turn, if a company is able to predict future trends and appeal to their consumers before their competitors it would be considered an opportunity. As the culture continues to evolve these opportunities and threats can arise continuously.
Technological change is also another important factor in the general environment. It influences everything from how the products are purchased, to how the products are assembled. As technology advances the process by which companies make products will change, along with the supply chain to generate products on the “front lines” for consumer purchasing online or at brick and mortar locations.
Technology poses a variety of...

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