Union Clothing Store situated on the campus of St. Francis Xavier in Anitgonish, Nova Scotia has a very select target market including present students, alumni dispersed nationally and internationally, as well as tourists to Nova Scotia. This environmental scan will examine the target markets and how they are affected by the technological, economical, demographic, natural and cultural forces. We will analyze each of these forces and layout past and future trends and how they may affect the target market and the retail clothing industry, beginning with the technological forces affecting the market.
Technological Forces
The technological environment is constantly changing and improving in every area of our everyday lives. As technology improves, so does our ability to produce new products and expand on existing ones. Looking back only ten years we can see that people rely much more on the use of technology not only for business use but personal as well. "The ability to step outside of our current boundaries via technology will have a fundamental effect on the evolution of society and culture." As technology evolves so does the way we conduct business and look at different markets.
The clothing market is growing more and more with every year and competition between major companies is growing along with it, which makes it that much harder for smaller privately owned businesses to compete in this market. Companies such as Nike are able to put millions of dollars into advertising and mass production of their products while smaller businesses don't always have that luxury. "As the making of clothing developed into an industry and the concepts of work-study were applied to the sewing process, the d ...