Anushka Dsilva - 40121289
Unit 1 – D2
In this assignment I will be evaluating how future changes in economic, political, legal and
social factors could affect the strategy of a particular business. Specifying this, I’ve selected
two issues i.e. aging population and climate change to explain how a variation in these factors
can disturb the normal business life of Boohoo.
As we know, Boohoo is an online retail business selling clothes especially for women. It has
a part of the business grouped as Boohooman which sells clothes and accessories specialised
for men. It is a public limited company and hence also belongs to the tertiary sector in the
business type category. The company is privately owned but anyone who wants to and who
can afford to buy a share of the business can do so with the required formalities. Boohoo
activates internationally and has limited liabilities. Limited liabilities means no shareholder
can be sued at any time. Their main target is 16 – 30 year olds. This means that all of their
products and services are produced or serviced according to the likes and dislikes of these 16
– 30 year olds. They’ve been operating since 2006 and claim themselves to be “A global
brand that doesn’t sleep”. In simple words, they’re available 24/7 and consumers can anytime
shop anything through their website which is https://www.boohoo.com/ . The business
introduces over 100 fresh products on a daily base which are dropped on the website stated
above. Boohoo is known as or their unique selling point is “We see you. We embrace it. We
make fashion accessible and fun. Boohoo is for girls. All girls”. The good thing about
Boohoo is that it operates internationally and sells good quality products with affordable
prices. Their products are unique and the designs of it keeps updating regularly. Companies
like Trendyol, H&M, Topshop Topman, ASOS, Matches Fashion, Net-a-porter and
Missguided are known to be the top competitors of Boohoo plc as they sell similar
products/services as them but with different quality and price. So they should ensure that
they’re doing their best to stand out in the market.
Now there can be many problems that arising in businesses like Boohoo.com through
changes in political, social, economic and legal factors. Following are two I’ve chosen to
explain:
Issue number 1 – Aging Population
Firstly, aging population means speedy growth of median age in a population (usually of a
country). This typically occurs during either major declines in fertility rates or major growths
in life expectancies. Moreover when both takes place together, a massive growth of elderly
people in the population rises. Most countries like the UK have expanding life expectancy
and hence an elderly population. There are only 18 countries entitled as “demographic
outliers” and all the other countries are having a majority of aged population. The very old
and growing very old population is presently at its greatest level in human history.
Now it is projected that in the coming years the 3/4ths of UK population will be occupied by
the elderly people. So here it’s how it will affect businesses like Boohoo. Boohoo doesn’t
really have anything for elderly people. In other words, Boohoo focuses on its target markets
and tries to do as much as they can by supplying products and services of their choice at an
economical price. Boohoo’s target market is 16 – 30 year olds especially women, but the UK
population and even other countries’ population will all be filled with elderly people in the
coming years. This means there would hardly be any 16 – 30 year olds left in the countries.
Unit 1 – D2
In this assignment I will be evaluating how future changes in economic, political, legal and
social factors could affect the strategy of a particular business. Specifying this, I’ve selected
two issues i.e. aging population and climate change to explain how a variation in these factors
can disturb the normal business life of Boohoo.
As we know, Boohoo is an online retail business selling clothes especially for women. It has
a part of the business grouped as Boohooman which sells clothes and accessories specialised
for men. It is a public limited company and hence also belongs to the tertiary sector in the
business type category. The company is privately owned but anyone who wants to and who
can afford to buy a share of the business can do so with the required formalities. Boohoo
activates internationally and has limited liabilities. Limited liabilities means no shareholder
can be sued at any time. Their main target is 16 – 30 year olds. This means that all of their
products and services are produced or serviced according to the likes and dislikes of these 16
– 30 year olds. They’ve been operating since 2006 and claim themselves to be “A global
brand that doesn’t sleep”. In simple words, they’re available 24/7 and consumers can anytime
shop anything through their website which is https://www.boohoo.com/ . The business
introduces over 100 fresh products on a daily base which are dropped on the website stated
above. Boohoo is known as or their unique selling point is “We see you. We embrace it. We
make fashion accessible and fun. Boohoo is for girls. All girls”. The good thing about
Boohoo is that it operates internationally and sells good quality products with affordable
prices. Their products are unique and the designs of it keeps updating regularly. Companies
like Trendyol, H&M, Topshop Topman, ASOS, Matches Fashion, Net-a-porter and
Missguided are known to be the top competitors of Boohoo plc as they sell similar
products/services as them but with different quality and price. So they should ensure that
they’re doing their best to stand out in the market.
Now there can be many problems that arising in businesses like Boohoo.com through
changes in political, social, economic and legal factors. Following are two I’ve chosen to
explain:
Issue number 1 – Aging Population
Firstly, aging population means speedy growth of median age in a population (usually of a
country). This typically occurs during either major declines in fertility rates or major growths
in life expectancies. Moreover when both takes place together, a massive growth of elderly
people in the population rises. Most countries like the UK have expanding life expectancy
and hence an elderly population. There are only 18 countries entitled as “demographic
outliers” and all the other countries are having a majority of aged population. The very old
and growing very old population is presently at its greatest level in human history.
Now it is projected that in the coming years the 3/4ths of UK population will be occupied by
the elderly people. So here it’s how it will affect businesses like Boohoo. Boohoo doesn’t
really have anything for elderly people. In other words, Boohoo focuses on its target markets
and tries to do as much as they can by supplying products and services of their choice at an
economical price. Boohoo’s target market is 16 – 30 year olds especially women, but the UK
population and even other countries’ population will all be filled with elderly people in the
coming years. This means there would hardly be any 16 – 30 year olds left in the countries.
