To inform people about the advantages of Ukay-Ukay. To the respondents, they will be able to realize how useful and beneficial of an ukay-ukay products particularly on their needs on clothings and etc. In sourcing your goods, you can either thrift them by yourself or buy them wholesale from suppliers. A SWOT (strengths, weaknesses, opportunities and threats) analysis is a planning process that helps your company overcome challenges and determine which Stores like Goodwill Industries in the U.S. and Salvation Army in the U.K., both distributed by Methodist churches, have begun to be a viable place for buying cheap clothes. Linda Pophal, strategic marketing communication consultant and content marketer at Strategic Communications, said these strategies should focus on leveraging strengths and opportunities to overcome weaknesses and threats. Publisher Editor No. (Opportunity) What demographics are we not targeting? You can get a custom paper by one of our expert writers. This study, in which catering business has been investigated develops a new assessment model to evaluate key success factors for micro-enterprise creation and operation. Use a series of analysis strategies, like SWOT, in your decision-making process to examine and execute strategies in a more balanced, in-depth way. After the finalizing the questionnaires, the researchers decided to go to the place where they will conduct their interview and survey. and so on. These goods are actually transported to different stores in Baguio City as well as places in Metro Manila via balikbayan boxes. SWOT Analysis Mostly, women are the ones who like to shop for ukay-ukay over men. Most respondents (costumers) corresponding to 31%, believe that the advantage of ukay-ukay is that it is cheap and affordable and the least chosen advantage of ukay-ukay corresponding to 4% is that shopping for it can lessen their expense on clothing and also a least advantage is that shopping for it is fun. For example, the objective of a SWOT analysis may focused only on whether or not to perform a new product rollout. These cookies ensure basic functionalities and security features of the website, anonymously. In addition to data, a company should understand the right combination of personnel to have involved in the analysis. The ukay shopping phenomena all started in Baguio. In 2001, the Philippines imported US$2.29 billion or PhP116.7 billion worth of consumer goods-approximately 6 percent higher than the previous years imports of US$2.25 billion (or PhP104.4 billion). CNN and the CNN logo are registered marks of Cable News Network, Inc., displayed with permission. How Does 401(k) Matching Work for Employers? Wagwag items, which usually originate from Hong Kong and the United States, enter the Philippines in a manner different from that of traditional imports. Due to the frequency of calamities happening in our country, a certain humanitarian group called the Salvation Army used to ship second-hand garments and other goods as forms of help to the filipino victims. Ukay-ukay is so popular since it is a cost-effective option for shopping on a budget. Closely related to its weaknesses, Home Depot's threats were the presence of close rivals, available substitutes, and the condition of the U.S. market. The four steps of SWOT analysis comprise the acronym SWOT: strengths, weaknesses, opportunities, and threats. The competitiveness and viability of the ukay-ukay business in the long run is an important concern. The cookies is used to store the user consent for the cookies in the category "Necessary". According to Abueg, the market for secondhand garments flourished from its considered capital, Baguio City, province of Benguet despite a law that prohibits the wholesale of second hand clothes. Start An Ukay Ukay Store Business Summary Startup Costs Pros & Cons Marketing Ideas Wondering how much it costs to start an ukay ukay store business? Out of 20 respondents (sellers), 6 of the respondents corresponding to 30% said that they price their stock based on the brand of an ukay-ukay, 2 of the respondent corresponding to 10% said that they price their stocks based on the type garment, 11 of the respondents corresponding to 55% said that they price the ukay-ukay based on the quality and 1 of the respondent corresponding to 5% said that they price their stocks by piece. Andrew Brooks shows how new and second-hand clothes are traded across continents and traces the human and environmental impacts of production and consumption. Requirements, How It Works, and Example, Human Resource Planning (HRP) Meaning, Process, and Examples, SWOT Analysis: What It Is and When to Use It, The Coca-Cola Company: A Short SWOT Analysis, Home Depot SWOT Analysis & Recommendations. SWOT analyses are not limited to companies. Is this gentrification? Bryan Weaver, an in-house advisor to Scholefield Construction Attorneys, was heavily involved in creating a SWOT analysis for his firm. BUS_RESEARCH I look forward to working with you moving forward . My Account | Independent SWOT analysts, investors, or competitors can also guide them on whether a company, product line, or industry might be strong or weak and why. Magaganda rin 'yung collection nila ng shoes, bags & clothes. Ukay A SWOT analysis pulls information internal sources (strengths of weaknesses of the specific company) as well as external forces that may have uncontrollable impacts to decisions (opportunities and threats). This visual arrangement provides a quick overview of the companys position. imported from other country. According to Abueg, ukay-ukay is a very affordable source of fashionable yet durable clothing material for those with relatively low incomes. Philippine Daily Inquirer. 16. The tremendous growth of this business phenomenon is observed in Santiago City. This will only become truly problematic when a substantial amount of ukay-ukay stores across the Philippines do focus on selling class A items when there are people whose only option is to buy 50-peso (or less) clothes. Following the journey of a pair of jeans Clothing Poverty takes the reader on a vivid around-the-world tour from cotton fields to retail stores. The specific objectives are: to describe the consumers' market behavior toward the presence ofukay-ukay and to identify the factors that influence individuals whopatronize these goods; SWOT analysis assesses internal and external factors, as well as current and future potential. Albert Humphrey of the Stanford Research Institute created this method in the 1960s during a study conducted to identify why corporate planning consistently failed. It does not store any personal data. In 2015, a Value Line SWOT analysis of The Coca-Cola Company noted strengths such as its globally famous brand name, vast distribution network, and opportunities in emerging markets. During the Great Depression, Mormons built their chains of thrift shops to create jobs that could help the poor. For smaller disputes, mediators dont work as a team, only as individuals; Scholefield staff can offer anyone the advantage of a group of neutrals to evaluate a dispute. Contrary to authorities notion that these commodities are donations from foreign countries, wagwag items are actually purchased from Hong Kong-based Salvation Armys rummage sale sites. SWOT analysis was first used to analyze businesses. Since this business is quite easy to start, this industry is also crammed. Those who sold ukay-ukay decried that many will lose their jobs and main sources of income those who man the stores, who sort out the clothes, those who are into the transport of goods. The ukay shopping phenomena all started in Baguio. The collective knowledge of the team will allow you to adequately analyze your business from all sides. Dont waste Your Time Searching For a Sample, The Science of Shopping versus "The Signs of Shopping", Compare/Contrast Online Shopping vs Traditional Shopping, Compare and contrast shopping online with shopping in actual shops. Therefore, a deeper analysis is needed, using another planning technique. The research instrument to be used in gathering primary data is the questionnaire. Later on, wagwagan became the colloquial wagwag, which has the same meaning as ukay-ukay (Cabreza 2001). Some thrift shops have even already marketed themselves as a seller of class A secondhand clothing. The idea is there is no right or wrong answer; all participants should be encouraged to share whatever thoughts they have. This is how youll keep your business fresh in customers minds and edge out your competition. Anyone can become a mediator, so other construction law firms could open up their own mediation service as well. Why You Need to Create a Fantastic Workplace Culture, 10 Employee Recruitment Strategies for Success, Best Accounting Software and Invoice Generators of 2023, Best Call Centers and Answering Services for Businesses for 2023, Small Business Trends and Predictions for 2023, 8 Big Data Solutions for Small Businesses. There is seemingly limitless applications to the SWOT analysis. Every SWOT analysis will vary, and a company may need different data sets to support pulling together different SWOT analysis tables. Manila (CNN Philippines Life) Wearing a pair of Ray-Ban sunglasses with a leather fanny pack slung across his shoulder, David Guison introduces a new segment for his video blog, called 500-Peso Ukay-Ukay Challenge. He talks in front of a camera with the four-storey ukay in Anonas as the backdrop, and shares how when he was in college, he would go to an ukay-ukay every week and hunt for one-of-a-kind pieces. Dealing with suppliers who are already well-known and have a good reputation among ukay-ukay business owners is the ideal option. With the transformation of secondhand clothing and garments retail and trade into what it is today, the government is now moving to To better understand how it competes within the smoothie market and what it can do better, it conducted a SWOT analysis. Using internal and external data, the technique can guide businesses toward strategies more likely to be successful, and away from those in which they have been, or are likely to be, less successful. Especially Pinoys who like cheap, trendy goods, ukay items are easy to sell. It is recommended to first create a list of questions to answer for each element. Once in the Philippines, these are then sold at prices lower than those of traditionally imported goods. He provided Business News Daily with a sample SWOT analysis template and example that was used in the firms decision to expand its practice to include dispute mediation services. However, the topmost reason why some of the respondents dont prefer buying in an ukay-ukay store because some of stocks are not in good condition. How much is the weekly income of an ukay-ukay business? The respondents chosen are those who have an ukay-ukay business and those who buy ukay-ukay clothing. And yet we seldom question where these are coming from, and how they continue to thrive. We also use third-party cookies that help us analyze and understand how you use this website. A SWOT analysis helps you identify strengths, weaknesses, opportunities, and threats for a specific project or your overall business plan. You can download the paper by clicking the button above. You can also conduct a personal SWOT analysis in your own life, whether for professional or other purposes. But there have been notes from anthropologists like Lynne Milgram saying that access to secondhand clothing already grew after World War II in Southeast Asia..
Which Of The Following Compounds Is Most Soluble In Water?,
Is There School Tomorrow In Lee County,
Average Salary Swiss Hockey League,
Excelsior Pass Plus Not Showing Booster,
Articles S
