1.1 Beijing Economic Overview China’s growth in the past thirty years has been one of the most spectacular economic marvels that have transformed the entire country. Economic reforms coupled with urbanization and the state’s commitment to development has placed China as the second highest in terms of GDP, second only to the United States (Thomas White, 2011)…
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Per capita consumption in China was 13,400 renminbi in 2008 which is expected to rise to 17,000 renminbi by 2015. The urban consumption is likely to exceed 13.3 trillion renminbi ($1.96 trillion) making the country the third largest consumer market after the US and Japan (Thomas White, 2011). This is based on an Annual Chinese Consumer Study by McKinsey in 2009. With the expanding market economy the purchasing power of urban residents has risen with a five-fold increase of real income in the past two decades (Wong & Dean, 2009). Wang (2011) endorses that rapid economic growth and improvement in people’s income in China stimulated a huge and expanding demand for services. ‘Consumer revolution’ was created in China as a result of the country’s burgeoning consumerism, new consumption patterns and increasing levels of consumer choices. The changes in consumption patterns led to structural changes in the retail sector. China is not a single homogenous market and hence the needs vary based on the socio-economic and cultural differences across markets within China (Wong & Dean, 2009). The retail sector has received a thrust which thrives on the progressive Chinese consumer. Not only have the domestic retailers, the global retailers also captured market share in the retail boom. Urbanization in China is driving the retail boom as is seen from the chart below. Chart: Urbanization driving the retail boom Source: Thomas White (2011) The study by Thomas White (2011) further finds that the middle-class consumers have now become the face of the aspiring and contemporary consumers. This segment will boast of 340 million people by 2016. Chart: Strength of the Middle-Class Consumers Source: Thomas White (2011) 1.2 Beijing Beijing is China’s second largest city in terms of population. Beijing has also experienced growth in GDP as a result of growth in the fields of investments, imports and exports and growth in the housing and automobile sector. Beijing is expected to experience continued urbanization and globalization. There has been a 402 percent increase in GDP per capita between 2001 and 2011 as the economy of Beijing has grown faster than its population (Starmass, 2013). Beijing has six high-end industrial districts that played a key role in its development and growth. In addition, taxation system reforms have also contributed to the rapid development of the city. Investments in infrastructure development and real estate development have led to rapid urbanization. 1.3 Retail formats, concepts and theories The concept of retail format is ‘murky’ according to Wang (2011) as there is no single accepted definition. Wang, however, cites different authors and their views of different retail formats. For instance, retail formats comprise of offering and know-how. Offering pertains to the external elements such as merchandise assortments, store atmosphere, location, service and price. Know-how includes the internal part which means the retail technology (procedures, methods and systems and techniques of retailing), and the retail culture (the retail concepts, norms, rules and procedures). Goldman (2001) elaborates on format transfer options from developed to developing nations. This could be on as is basis or adaptation. The first is a special case limited to large retailers catering to global segments. All other format transfer options can be grouped under adaptation. Adaptation is required
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This academic proposal is being carried out to identify the most significant motivators of young adults in the UK fashion industry and the development of an effective model to capture the market of young adults, to study an important component of the fashion industry which has not been given the attention it deserves in the past.
Fashion Industry Overview 4
The UK fashion industry 4
Facts and Figures of the UK fashion industry 6
Research objectives 7
Motivation for research 7
Literature Review 8
Motivation for Research 11
Consumers in the UK and their needs 12
The intention of this study is Customer Relationship Management, or CRM, that has many perspectives and definitions that illustrate its fundamental thrust, that of trying to present a holistic strategy for managing customer relationships by getting to know the customers and their needs better, communicating with them more effectively and trying to fulfil these needs
Proposal for a Descriptive Type of Research
Working Title; The Role of Motivation in Project Management
The interest on this subject stems from personal observation on current trends in the construction industry. Notably, there has been a remarkable shift of motivation factors as the global society dips more into realms of modernity and modern lifestyles.
Of the ‘new world’ economies, China in particular, has demonstrated a strong growth market in outbound travel. Britain is keen to attract the Chinese tourists as they spend three times the amount than tourists from other countries. The UK and China are distinctly different in the cultural dimensions and culture impacts expectations and needs.
UK experienced high unemployment rate since the effects of recession resulted in retrenchments, low demand for products and services, low money supply, stricter borrowing terms and conditions, and relatively low purchasing power due to inflation. Fortunately, the prices of clothing remained low due to thousands of alternative sources of clothing with low cost.
Although there are sufficient amount of research works exist which have tried to investigate consumption motivation among customers for luxury items but most of these studies were conducted in context to developed nations from North America and Europe. Interesting fact is that most of the researchers skipped luxury consumption of Chinese customers but economic evidences and sales of luxury goods in China is suggesting that ignoring the red dragon might not fill the gap in literature regarding luxury consumption in convincing manner.
The success of the research thus lies on the primary data that the researcher employs. To maximize on this, the researcher seeks to use several data collection techniques with the aim of collecting specific data directly relevant to the topical issue of the study.
To gain better understanding about motivational factors that works effectively on the part of Apple’s employees, a research survey study was conducted for this purpose. Based on research findings, among the few motivational factors that works best for Apple’s employees include the need to satisfy their physiological needs, safety needs, social needs, esteem needs, and practice fair treatment to all employees.
Executive Summary Diversity has become an important aspect for organizations in order to gain competitive advantage. Organizations across the world have started focusing on having diversified range of employees and this research study analyzes how the organizations in China use the concept of diversity.
16 Pages(4000 words)Dissertation
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