Identify several different factors if your fashion business is profitable ?
INSTRUCTIONS
Euromonitor is a database that is very useful when measuring consumer’s lifestyle. Find another country to conduct research on by using Euromonitor. This is the beginning of your signature assignment. Remember to work on a subject that keeps your interest and will continue with it through out the semester. This assignment can be written with bullet points when answering the questions under each different heading
Suggestion Extra Credit: There is more than one path to answer the questions proposed in the Assignment. Therefore, if you find an easier path than which is recommended in the assignment – describe the path you took in your assignment and you can earn up to 5 Extra Credit points.
To do:
Select a profitable fashion industry e.g.: tops, denims, leather, magazine, textiles…
Identify several different factors if your fashion business is profitable ?
Is it sustainable ?
This paper will have 5 headings that refers back to the assignment: -The total report is worth 100 points. Each subheading weights are below
Heading 1 – Industries (30 points)
Heading 2 – Economies (15 points)
Heading 3 – Consumers (15 points)
Heading 4 – Consumers Lifestyles (15 points)
Heading 5 – Income & Expenditure (15 points)
Heading 6 – Final Summary (10 points)
Follow the attached sheet
Requirements: as above
Euromonitor is a database very useful when measuring consumer’s lifestyle. This assignment you will be comparing the United States with another country. Before you begin think of another country to conduct research on by using Euromonitor.
To do:
Selecting a profitable fashion industry e.g.: apparel, fashion luxury, magazine, textiles …
Identify several different factors if your fashion business is profitable?
Is it sustainable?
This paper will have 5 headings that refers back to the assignment: -The total report is worth 100 points. Each subheading weights are below
Heading 1 – Industries (30 points)
Heading 2 – Economies (15 points)
Heading 3 – Consumers (15 points)
Heading 4 – Consumers Lifestyles (15 points)
Heading 5 – Income & Expenditure (15 points)
Heading 6 – Final Summary (10 points)
Step: Login to (Passport) Euromonitor using the “Library Tools” tab in D2L
Click on “More” then “Library Tools” on your D2L page
Search for “Passport Euromonitor” under “databases” and click to launch the site
Once logged on to Euromonitor, follow the guidelines below to complete the project
You will need to accept the database “terms & conditions” before it launches
Step 1: Industries
Your task is to choose an industry that you believe will give you the most sustainable business for the next 10 years. Start thinking about another country not USA
Next, go to the “Industries” tab at the top of the page in Euromonitor
Find the Luxury & Fashion tab & click on it -click on the Apparel and Footwear or Luxury Goods or Personal Accessories (under the Luxury and Fashion tab)
First go to the box “Explore Analysis”
Choose an industry, (must be fashion related) – (should have already taken this step above)
Go to” Choose Analysis” review both Country Report & Datagraphics (do separately) & save your content. –
Go to “Choose Category”, choose the category that relates back to your industry Make sure that it is one of the options available.
Go to “Choose Geography” Choose another country not USA (keep the same country throughout this report)
You will find Datagraphics one this page – click on Datagraphics:
You can choose your data
You can choose how to view your data
Also, download the data – I suggest you download for later
(Go back to Industries tab on top & go through the same first three steps above – now Explore Statistics)
Left Side select the second box “Explore Statistics”
Select an industry same as the one that you just did in Explore Analysis, category and geography (same location as you did in Explore Analysis)
Once you have done that stats will show up – choose Market Sizes in order to view growth in your category within the country of your chosen.
Click the Go button
Next make a headline on your document stating Industries and answer the questions below
Once your “Country Report” loads, answer the following questions:
What category under the industry (subcategory) did you select for your country? Who is your country?
Go to the Market Sizes and click on the three bars (review the image).
Now that you are in Country Report and have stats: Think about what you found in Analysis & explore the market size – Let us review the stats you found and explain this back to me what are the notable changes you view in each year and why do you think the changes happened?
.
Note: If you see that the industry you have selected shows decline or is not profitable for the future describe “why” and could this industry change
Step 2: Economies
After selecting the type of industry for your country, your next task is to research the business dynamics and economy.
Considering your country, go to the “Economies” tab at the top of the page
Select “Business Dynamics”
Go to Explore Analysis – Under “Country Reports” choose “Business Dynamics” (remember this is located in “choose Category”)
Go to your same country under “Choose Geography” and click on “GO”
Next make a second headline on your document stating Economies. As you can see, there are so many sections to explore…choose five stats and discuss how it relates back to the fashion industry that you chose. With this in mind, think of the following statements below and try to answer using the data that you found:
Within Business Dynamics, identify sections related to your chosen business that stand out?
Discuss how the business category you are analyzing impacts retail/fashion for the country.
Step 3: Consumers
The “Consumers” category includes several interesting elements that are helpful descriptors in the exploration of your industry and country. Follow the steps below to analyze different Consumer reports.
Select the “Consumers” tab at the top of the Euromonitor page
Then, select “Households” from the drop-down menu in first box “Explore Analysis”
Scroll to Choose Analysis and select “Country Report”
The box labeled “Choose Category” also choose “Households”
Next, select your same country in the box labeled “Select a Geography” and click on “GO”
Next make a third headline on your document stating Consumers. Answer the following questions based on the generated report:
Summarize the typical household in your country give a brief description. Be sure to include key statistics that are relevant to your industry and country.
After summarizing, discuss the country’s demographics in comparison with the United States. (You will need to go back and in” Select a Geography” Select USA). Compare and contrast the major similarities and differences between these two countries. Consider how the demographics in each country would impact your business.
Step 4: Consumers Lifestyles
The next Consumer report to analyze is “Lifestyles”.
Select the “Consumers” tab at the top of the page & click on “Lifestyles” (underneath Consumers tab) Then, select “Lifestyles”” from the drop-down menu in first box “Explore Analysis”
Scroll to Choose Analysis and select “Country Report”
The box labeled “Choose Category” also choose “Lifestyles”
Next, select your same country in the box labeled “Select a Geography” and click on “GO”
This will show some Country Reports on your consumer in your chosen country – find one that is interesting and can help answer the ?s below in your Consumer Lifestyles report
Return back to the Consumers Tab above -click on Lifestyles tab & Go to the middle box “Survey” and click on GO
Next, “Change Topic” on the top left side
Scroll down and choose “Path to Purchase” or “Shopping” category.
Pick what subcategory interests you, for example: Apparel & Personal Industries, second hand products, Habits… Hit the “Apply”
Last, choose the same country that you have been working with since the beginning of this report. Choose 2 subcategories to review (in the blue box “Change Topic”)
Here is an example the stats are reviewing the question survey question chosen “ I am willing to buy second-hand or previously-owned items”
Next make a fourth headline on your document stating Consumers Lifestyles
Why did you choose the subcategory to focus on? How is it related to both your business and your country?
When you compare the years starting with 2019 -what does the data tell us about fashion?
What outcomes do you predict in the near future?
Step 5: Income & Expenditure
The final section of the Euromonitor assignment analyzes “Income and Expenditures”
Select the “Consumers” tab at the top of the page & select the tab “Income and Expenditures”
Under Choose Analysis & select “Country Report” category & Choose Category Income and Expenditure–
Under “Choose Geography” select the same country that you have been working with since the beginning of this report and click on “GO”-
Choose 3 charts that impact the fashion industry (in the country of your chosen and compare it to the United States) -you will have to go to back to Explore Analysis & in Country Report look for USA
Next make a fifth headline on your document stating Income and Expenditures
Then, answer the related questions below:
Compare the spending habits of your country with the spending habits of the United States. Explain the similarities and differences.
Describe why you chose the 3 “charts. Download your 3 charts – List them, and for each one describes how they are related to your country, industry, and economy.
Reflect the data displayed and list the potential 10-year success of your business? Will this be a successful business in your country? Explain.
Step 6: Final Summary
After completing the steps of the assignment, consider some final thoughts:
Next make a sixth headline on your document stating Final Summary
Were there any elements or sections that you found to be surprising in your country? Explain.
How did analyzing a specific industry in your country of choosing and comparing it to the United States help you understand the fashion industry globally?
Be honest how do your rate yourself in navigating Euromonitor:
Driver
Passenger
Stuck in the trunk.
Extra credit 5 points: Finally, did you find an easier path to answer the questions above? Or did you find other useful information? If you did for 5 extra credit points describe your own path or other useful information below:
*This assignment is worth 100 points.
Example of the format of your Paper:
Name: Country:
Industries
Once your “Country Report” loads, answer the following questions:
What category under the industry (subcategory) did you select for your country? Who is your country?
Go to the Market Sizes and click on the three bars (review the image).
Now that you are in Country Report and have stats: Think about what you found in Analysis & explore the market size – Let us review the stats you found and explain this back to me what are the notable changes you view in each year and why do you think the changes happened?
Economies
Within Business Dynamics, identify sections related to your chosen business that stand out?
Discuss how the business category you are analyzing impacts retail/fashion for the country
Consumers
Summarize the typical household in your country through a brief description. Be sure to include key statistics that are relevant to your industry and country.
After summarizing, discuss the country’s demographics in comparison with the United States. (You will need to go back and in” Select a Geography” Select USA). Compare and contrast the major similarities and differences between these two countries. Consider how the demographics in each country would impact your business
Consumers Lifestyles:
Why did you choose the subcategory to focus on? How is it related to both your business and your country?
When you compare the years starting with 2015 -what does the data tell us about fashion?
What outcomes do you predict in the near future?
Income & Expenditure
Compare the spending habits of your country with the spending habits of the United States. Explain the similarities and differences.
Describe why you chose the 3 “charts. List them, and for each one describes how they are related to your country, industry, and economy.
Reflect the data displayed and list the potential 10-year success of your business? Will this be a successful business in your country? Explain.
Final Summary
Were there any elements or sections that you found to be surprising in your country? Explain.
How did analyzing a specific industry in your assigned country and comparing it to the United States help you understand the fashion industry globally?
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