Business Analysis And Pest Analysis Of Selfridge & Co.
Selfridges, also known as Selfridge & Co., is located in the United Kingdom and well-known and unique because of its history and how it currently operates. Selfridges was established by Harry Gordon Selfridge on 15 March 1909. It is a chain of high-end department stores whose flagship store on London’s Oxford Street is the second largest shop in the UK. Since 2003, Selfridges has been under the ownership of Galen Weston and has its stores at Oxford Street in London, in Birmingham and at Trafford and Exchange Square in Manchester. Selfridges won the Best Department Store in the World at the Global Department Store Summits in 2010, 2012 and 2014 (Selfridges, 2015a,b).
2. Analysis of the Industry, market size, competition, etc.
2.1. PESTLE
A market is the place or medium where specific activities are transacted between businesses and consumers. To study the macro-environment (i.e., external environment), PESTLE analysis is considered to be the most appropriate as suggested by Kotler and Armstrong (2010).
2.1.1. Political
The current UK Government has made business conducive for the retail sector (UK Trade and Investment, 2014). In addition, the UK government has relaxed tourist visa application laws for large consumer countries such as China, the benefits of which are explained below (Davidson, 2015). However, ongoing tensions in the Middle East and Russia, which have also been high spenders, might be a negative factor (Hardman, 2012).
2.1.2. Economical
The economic climate
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