Marketing

Essay by tala7726University, Bachelor'sA, November 2014

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NEXT PLC

Introduction

Industry Overview

Between the years 2010 and 2012, the clothing market of the UK has faced a somewhat unpredictable growth and fluctuation. However, as per Marketline (2013), the growth rate has steadied in the following years from 2013 to 2017.

In 2012, the growth rate was an estimated 3.3% with a value of around £36.9 billion (as shown in the graph). According to Marketline (2013), in 2017 this rate is expected to rise to a value of £ 42.7 billion.

A company must have a distinct selling point if it is to survive and thrive in such an environment of widespread segmentation, states Sender 2013. Women's clothing is that distinctive selling point of the company and contributes a whopping 57.6% of the total revenue generated, according to Marketline (2013). Online retailing, according to Euroline (2013), has the maximum potential for growth in the coming years and is considered among the most significant distribution channels.

The chart below depicts the growth of UK's clothing industry in the years 2008 to 2012.

Source: Marketline, 2013

The graph below depicts the worth of UK's clothing market in the total European clothing industry as about 13.8%.

Source: Marketline, 2013

Next Plc: International Profile

Functioning in Middle East, Asia and Europe, Next Plc produces quality goods for all genders and ages alike with items available for men, women and children. They also offer a selection of home wear items. According to Marketline (2013), Next employs over 54,500 people and operates through Next International Retail, Next Directory, Next Sourcing, Next Retail and Lipsy. Spread all across the UK and Ireland, Next has over five hundred retail outlets. In addition to the 200 retailing outlets in 30 different countries, it has consumer base which exceeds three million people all over the world making it...