You are on page 1of 3

Coronavirus is significant human and creature virus that can cause a disease.

In late 2019, a novel


coronavirus was recognized as the cause of a bunch of pneumonia cases in Wuhan, China. It spread very
quickly, bringing about an epidemic all through China, trailed by an expanding number of cases in
different nations all through the world. In February 2020, the WHO (World Health Organization)
assigned the infection COVID-19, which represents coronavirus disease 2019. Numerous individuals have
needed to self-isolate to secure their well-being or care for their kids. Also, most seniors have
constrained their exercises as they are at more serious danger of complications if they contract the
infection. Therefore, the deliberate area has been understaffed. Most of the cultural, sports and
educational activities have been dropped because of the proximity of members in the conveyance of the
great or administration. This was likewise the situation for a few different business activities (e.g.,
Restaurants, Cloth stores). Demand drops for items and services considered unnecessary when most
people stay at home. Provincial governments decide if every industry is essential else not and promoted
the essential area and appreciated the employees who are working the essential services. A few sectors
of Canada's economy are comprised of a bigger portion of small and medium-sized entrepreneurs
(SMEs), which might not have the income to counterbalance huge income misfortunes over prolong
period. Mainly the non-essential sectors are considered in this category of the economy sector and the
sectors that face the most negatively affected are hospitality, arts/recreation, retail and personal
services. According to a survey conducted by the Canadian Federation of Independent Business (CFIB),
half of small businesses reported a drop in sales due to COVID-19. Some workplaces reduce hours for
their staff and some started the temporary layoffs. About half of the sectors will not be able to sale their
products if they are lacking of Face-to-Face contact with the customers, according to the CFIB survey.

Men's Clothing Stores is the Identified business segment that is impacted by the Covid-19 and in which
the writer interested in.

Description: This industry involves foundations essentially occupied with retailing a general line of new
men's and boys' dresses that are ready-to-wear. These foundations may also provide some basic
alterations, for example, stitching, taking in or letting out creases, or extending or shortening sleeves.

The NAICS code for this business segment is 44811.

Total Stores: There are 383 Employers for the men’s clothing store and 153 non-
employers/indeterminate in Ontario.

Number of Employees: There are 127 stores that have the employee range 1-4. These stores are
considered in the Micro Employment size category. There are 253 stores that have the employee range
5-99. These stores are considered in the Small Employment size category. There are 253 stores that have
the employee range 100-499. These stores are considered in the Medium Employment size category.
There is no large employment size category store in Ontario as there is no store that has more than 500
employees working on it.

Revenue: Their average revenue in Canada is approximate $552.8 thousand with about 69.9% of
profitable rate.
Purpose:

The main purpose of this business is to offer quality, name their brand in a variety of sizes and styles to
oblige all different body styles and shapes with respect to the current trends and the future trends.

Goals:

 The very first goal would be to identify the current consumer trends along with the items they
can want in the future.
 Always try to remain their business as a Profitable business.
 Branding is another important fashion goal.
 Investing in the broad showcasing and publicizing systems that can uncover the business items.
 Have reliable distributors who can expose the business label in the market.
 Showcase an assorted range of items for your clients for various circumstances and seasons.

Business Function:

 Visual Merchandising: Structuring and setting up business showcases to support customers is a


significant obligation in the retail clothing industry. Window dressers and product displayers
design eye-catching shows to pull in the consideration of purchasers. Retailers who take an
interest in exchange shows likewise need to utilize visual merchandising to attract clients.
 Showcasing: People in the retail clothing industry frequently showcase their items through print
publicizing. Owners and managers might be engaged with settling on promoting techniques and
setting the showcasing financial plan. Print publicizing as paper and magazine ads just as regular
postal mail postcards to announce deals and promotions are additionally utilized to market their
products.
 Overseeing Staff: Store management plays a key role in the clothing businesses. Retail location
supervisors recruit and administer store work force. Positions in a retail location can incorporate
salesmen and clerks, IT specialists and accountants. The supervisor/manager guarantees that
people are trained for their positions and that they play out their employments well.
 Stock Control: The retail apparel owner or manager might be responsible for stock control. This
implies there must be a system set up to uncover when more merchandise should be requested.
The manager's obligations incorporate ensuring orders are in on schedule, paying for the
request and monitoring what amount is spent to make sure about more products available for
sale.
 Client assistance: Retail clothing managers and owners give client support to deal with
complaints and issues as they arise. How the customer encounters client assistance can mean
the contrast between a fulfilled repeat client and an irate client who takes the business
somewhere else.

SWOT Analysis:
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.

Strengths: the strengths for the men’s retail store can be the financial backing of the retailers. Cheaper
prices of the wholesale items, raw items or the cheaper labor can also be another strengths. Also, if the
company is selling something unique as compare to its competitors present in the market can also be
considered as the strength of the company.

Weaknesses: By doing some statistical surveying, the retailer can check in the event that it has a weak
brand icon versus key contenders or absence of character in the commercial center. For example, the
store may sell both modest and costly brands, so it comes up short on a characterized place in the
client's mind. Basically, the store offering to all market fragments may mean it has no upper hand that
separates it from different retailers.

References Used:

https://tinyurl.com/y9a6vob5

https://tinyurl.com/y77bl6cw

https://tinyurl.com/yc464brx

https://tinyurl.com/ycdshjcu

https://tinyurl.com/yc44cxyv

https://tinyurl.com/ybwve6r7

https://tinyurl.com/y7j2yyr7

https://tinyurl.com/y7beuewk

https://tinyurl.com/ybybw4lg

You might also like