Introduction
Jump the Gun is a fashion shop located in Brighton, United Kingdom. The shop specializes in providing vintage men’s clothing. It has been in operation for over two decades with a variety of men’s wares (Jump the Gun, 2023a). Some of their products include suits, shirts, shoes, and accessories. One factor that makes Jump the Gun dominant is its consistent provision of high-quality, authentic wares, as shown in Appendix (Figure 1).
External Analysis
The external analysis of the local fashion industry in Brighton will be conducted using the PESTEL analysis framework. This examination involves scrutinizing the industry’s political, economic, sociocultural, technological, legal, and ecological environments.
Political
The UK’s recent exit from the European Union, Brexit, has impacted the fashion industry in several ways, such as increased cost of import and export of goods (Casadei & Iammarino, 2021). This has negatively affected the profitability of the fashion industry. Figure 2 shows the impact of Brexit on the preference for premium products. It shows how different sectors, including fashion, have been affected by Britain’s exit from the European Union.
Economic
The recent COVID-19 pandemic has caused changes in most industries, such as reduced consumer demand, spending and confidence. This has led to the closure of many stores and reduced operations. According to statistics, there was a 23% reduction in sales in 2020 in the fashion wares (Silva & Vecchi, 2023). This was due to financial challenges experienced during that time.
Sociocultural
Consumer trends have been changing greatly as a result of sustainability concerns, diversity, and inclusivity. Many consumers prefer firms that are conscious of environmental conservation. Other consumer trends that have shifted the industry include online shopping and customization.
Technological
The fashion industry has been transformed greatly as a result of the available cutting-edge technologies. These technologies include artificial intelligence, 3D printing, blockchain, and the Internet of Things. They have increased efficiency in production, distribution, and marketing, hence boosting profitability.
Environmental
Production of fashion wares results in high carbon emissions; hence, environmental consciousness is a very important issue in the sector. It can lead to water, land, and air pollution, which have detrimental effects on the environment. According to Statista (2023), 10 % of the global carbon emissions result from the fashion industry. Therefore, due to the growing sustainability concerns, many firms are shifting towards eco-friendly practices.
Legal
The fashion sector is governed by rules and regulations implemented by the government of the UK. These laws include tax compliance, consumer rights, intellectual property rights, and labor and employment.
Therefore, it can be concluded that the fashion industry’s profitability is average since it is affected by many factors. Some of the aspects that have reduced the profitability include Brexit, as shown in Figure 1 above, the COVID-19 pandemic, and environmental and legal compliance. On the other hand, innovations driven by improved technology and favorable sociocultural factors have boosted profitability. They have helped businesses adapt to the changing business environment. Firms in the fashion industry have employed technology to deliver unique and valuable products and services.
Internal Analysis
This report will apply the VRIO framework to analyze Jump the Gun’s resources and capabilities. VRIO is an acronym for value, rarity, imitability, and organization of a business.
Value
Jump the Gun has several resources and capabilities that enable it to exploit opportunities and compete favorably in the fashion industry. Firstly, it has a brand that manufactures quality and authentic clothes and wares for its customers in Brighton. It features other famous trademarks such as Brutus, Delicious Junction, and Relco (Jump the Gun, 2023a).
Secondly, it has maintained a loyal and passionate customer base. This contributes to their marketing by sharing the outfits and experiences online and facilitating word-of-mouth marketing. Lastly, it has a user-friendly, interactive website where customers can place orders (Jump the Gun, 2023a). Clients can also get help and review products and their experiences.
Rarity
The firm has set itself as a unique operator in the fashion industry through different strategies. Some approaches include specializing in 1960s vintages, which sets it apart in the men’s fashion supply market (Jump the Gun, 2023b). This sector has limited competitors, allowing the firm to operate effectively to attract more clients.
The enterprise has been in business for more than 20 years and has built a strong reputation in the industry, attracting clients from around the world (Jump the Gun, 2023b). Furthermore, it has strategically located its physical store in the North Laine area in Brighton (Jump the Gun, 2023b). This area is vibrant and eclectic, attracting many visitors and tourists, thereby increasing access to worldwide customers.
Inimitability
The firm has established various strategies to protect its assets and styles from being imitated by other firms. For example, it produces its products and designs, ensuring a quality standard that other firms find difficult to match (Jump the Gun, 2023a). Jump the Gun is focused on efficient customer service and relationships through employing professional and personal staff. Moreover, it has set itself apart with catchy slogan designs, a consistent color theme, and a recognized spokesperson. Its properties are also patent and trademark-protected.
Organization
The firm has established processes, structures, and culture that support and use its resources and capabilities. For example, it has effective management that steers the company toward a strategic direction, with clear vision and goals (Jump the Gun, 2023a). The leadership is also focused on ensuring staff coordination and motivation.
It has a strong marketing department responsible for promotions, publicity, and product awareness. They are also actively engaging clients on the website and social media to ensure the brand’s reputation. Jump the Gun has a research and development department that drives innovation and the development of improved products.
Therefore, Jump the Gun has various resources and capabilities that enable it to compete favorably in the market. In addition, they ensure the business’s remarkable performance in the industry. However, the firm still has room for improvement in its operations and success.
For example, it should expand its product range and variety. This will increase the customer base and revenue. It should also diversify its distribution and delivery channels. It will spread the risks of dependence on a single channel. More channels will also ensure increased efficiency and reliability.
Ethical Conduct and Environmental Sustainability
The firms claim to have ethical standards and policies to ensure environmental sustainability. Jump the Gun produces its products in the UK and other parts of Europe. It has maintained its own brands, ensuring quality control and authenticity for customers. However, there was no evidence or information on how the company treats its employees. Critical information on working conditions, such as wages and workers’ and suppliers’ rights, was not provided anywhere. Therefore, it is challenging to establish whether it complies with labor laws or international standards on production, distribution, and marketing.
On the other hand, the firm claims to consider sustainable practices. However, it was difficult to determine whether this claim was valid, as there were no policies or initiatives on environmental conservation, including pollution and waste management. Furthermore, it offers no details or proof on the materials, procedures, or technologies used in the production of its apparel, nor any environmental certifications or labels that it has filed for or received. Consequently, it is unclear how sustainable Jump the Gun is in terms of product life cycle management, waste and pollution prevention, and material and energy efficiency.
Conclusion
The firm lacks robust models to ensure sustainability and ethical practices. Hence, its claims cannot be verified since it is not transparent enough. It could benefit from drafting policies and procedures for environmentally friendly practices.
Some of the recommendations for its ethical and sustainability include conducting a due diligence assessment of its supply chain. This will ensure that its suppliers and workers comply with the ethical and legal standards and requirements, such as the UN Guiding Principles. In addition, it should focus on reducing its dependence on fossil fuels and synthetic textiles. It can accomplish this by investing in more renewable resources, environmentally friendly manufacturing techniques, and technologies such as solar energy, recycled polyester, and organic cotton in the production of its apparel.
References
Casadei, P., & Iammarino, S. (2021). Trade policy shocks in the UK textile and apparel value chain: Firm perceptions of Brexit uncertainty. Journal of International Business Policy, 4, 262-285.
Jump the Gun (2023a). Social.
Jump the Gun (2023b). Home.
Silva, E. S., & Vecchi, A. (2023). Fashion MSMEs confronting climate change, COVID-19 and Brexit: Key drivers for supply chain relocation. Creative Industries Policy and Evidence Centre, 1-41.
Statista (2023). Sustainable fashion worldwide- statistics & facts.
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