H&M Retail Theory and Practice Assignment – Retail involves selling commodities, usually in small quantities, to the ultimate consumer for personal, family, or household use. It primarily focuses on enterprises that sell items without interfering with their original structure, plus those that offer services incidentally to these goods’ sales. Retail cuts across all sectors, including fashion. In the past, clothes were primarily sold in brick and mortar stores, catalogues, and television stations.
However, technology advancements in the late 20th century saw the increased use of the internet in fashion retail. Most stores, large and small alike, created websites to showcase their merchandise while allowing customers to buy directly from their stores. Given that clothing manufacturing in the U.K. is not cheap, most fashion retail giants manufacture their items outside of the UK, such as China, Bangladesh, and India.
This way, the enterprises lower their production costs, hence can sell their goods at subsidized rates. However, not all retailers accommodate those with budget limitations, including Gucci and Armani. On a similar note, some retailers, such as Primark, quote very affordable rates.