swot analysis of information technology industry

This industry has some of the most focused operators that never overlook quality. This contributes a lot to the growth of the industry. Sure it is more prevalent in some than in others fashion still exists everywhere in the world. Whether there are chains of the big fashion names in every country, or there are local variants of fashion brands, there is a fashion hub in every country. In every country and in every region of the world, fashion has a presence.

Global Presenceįashion exists everywhere. no matter what the event or occasion is, there are endless options. Daily wear, office wear, formal wear, party wear, etc. Not only that, but the fashion industry also has products that suit every occasion. Now there are so many alternatives that offer not only the trends but also the accessibility such as H&M, Shein, Zara, etc. Naturally, such exclusive brands have a very limited target market they are not catering to everyone. When we think of fashion unconsciously our mind gets diverted to luxury fashion brands like Gucci or Armani.

There is something for everyone in this industry. It is still making profits and fashion is easily one of the biggest industries in the world. They might be competitors but altogether, they are not adversely affected by the saturation. There are perhaps thousands upon thousands of brands around the world that add to the fashion trends. This clearly shows that the fashion industry has a lot of potential to generate profits. As of 2021, the fashion business comprising apparel, shoes, and accessories generated business worth approximately $759.5 billion!!

Swot analysis of information technology industry