swot analysis of ukay ukay

We conclude the following based on our study: Buying or Selling Ukay-Ukay or UK is ILLEGAL. Coffee is only sourced from Brazil and Ethiopia. The appeal of low-cost clothing continues to entice visitors into these stores in search of branded clothing for cheap prices. Its SWOT analysis prompted Value Line to pose some tough questions about Coca-Cola's strategy, but also to note that the company "will probably remain a top-tier beverage provider" that offered conservative investors "a reliable source of income and a bit of capital gains exposure.". Alleco (http://bulatlat.com/main/2011/04/18/the-economics-of-ukay-ukay/). Accessibility Statement. Ukay-ukay is so popular since it is a cost-effective option for shopping on a budget. Just like any other business, the success of an ukay-ukay business is mostly determined by the owners efforts and traits. Before you start, its better to learn the pros and cons of the business. 1. Be your own boss You give good ideas. Ukay Serye Clothing line is made from renewable fabrics that are transformed into, fashionable, eco-friendly pieces that any costumer would love to have. The entrepreneurs leading problems are unsteady sale and the customers difficulty in rummaging while their needs include increasing their capitalization and making their stalls more spacious and comfortable. According to the survey, most of the costumers of ukay-ukay industry ranges from 20-30 years old and the least ranges from 50-60 years old. Many people are drawn to ukay-ukay the fact that is cheap and affordable, this a great advantage to the shoppers. In addition to analyzing thing that a company does well, SWOT analysis takes a look at more detrimental, negative elements of a business. Will Kenton is an expert on the economy and investing laws and regulations. This could be an opportunity to widen your connections and network. The Economics of Secondhand Retail Trade: An WebThe Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay Author & abstract Download Related works & more Corrections Author Listed: Abueg, Perform a SWOT analysis before you commit to any sort of company action, whether you are exploring new initiatives, revamping internal policies, considering opportunities to pivot or altering a plan midway through its execution. SWOT analysis is a technique for assessing the performance, competition, risk, and potential of a business, as well as part of a business such as a product line or division, an industry, or other entity. 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. COMPETITIVENESS, VIABILITY, ECONOMIC We recommend also that the government should abolish the R.A. 4653 because even if there is law, still many ukay-ukay stocks are imported in our country from Japan, Korea and etc. 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. Silverio,Ina Stitching together rich narratives from Papua New Guinean tribal people, Mozambican cotton growers, Zambian factory workers, American jeans markets, international charities, Nigerian smugglers, Londons vintage clothing scene and Vivienne Westwoods new ethical designer lines, Brooks uncovers the many secret sides of fashion. This cookie is set by GDPR Cookie Consent plugin. Ukay ukay (in short UK) is actually gouging in a pile of run down clothes,the word is derived from the word phrase 'halukay' which literary means "digging" or "make a mess". XXXII No. Home Depot conducted a SWOT analysis, creating a balanced list of its internal advantages and disadvantages and external factors threatening its market position and growth strategy. Generally, this study found that Filipino Gen Z consumers perceived values of second-hand clothing significantly influence their attitudes towards participating in a circular economy, and illustrated in specific categories how and to what degree. We also reference original research from other reputable publishers where appropriate. There are various reasons consumers still buy these goods. Having the ability to make decisions may be both empowering and liberating. The researches limit the study in the Ukay-Ukay stores which will focus on the information and the knowledge of the costumers and sellers about Ukay-Ukay. Ukay-Ukay secondhand clothes, bags, hats, shoes and etc. Although the values already show a significant amount, they do not yet include other foreign commodities illegally entered into the country. To perform the SWOT analysis, create a large box divided into four squares. Bibliography can be find at the last page of a book and can be used as references of a researcher. How to Get a Bank Loan for Your Small Business, How to Conduct a Market Analysis for Your Business, Guide to Developing a Training Program for New Employees. While authorities had every legal right to confiscate and even bum such items, ukay-ukay stall owners managed to remain unscathed by relocating outside Metro Manila-to locations not usually monitored by the Department of Trade and Industry (DTI) and the Department of Social Welfare and Development (DSWD), he said. In recent years, however, participation in street entrepreneurship has been re-read either as a rational economic choice (neo-liberal theory) or as conducted for cultural reasons (post-modern theory). A company can use aSWOT for overall business strategy sessions or for a specific segment such as marketing, production, or sales. Issue No. In general, a SWOT analysis will involve the following steps. The idea is there is no right or wrong answer; all participants should be encouraged to share whatever thoughts they have. See if your business is eligible for a tax credit of up to $26K per employee! A SWOT analysis covers both the internal factors a company can manage and the external factors that may be more difficult to control. Then, a correlational and causal research design consisting of descriptive statistics, simple linear regression, multiple regression analysis, mediation analysis, and moderation analysis was used. Silverio,Ina Alleco.The Economics of Ukay Ukay. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. You can also conduct a personal SWOT analysis in your own life, whether for professional or other purposes. SWOT for Ukay Ukay is a powerful tool of analysis as it provide a thought to uncover and exploit the opportunities that can be used to increase and enhance companys operations. In addition, it also identifies the weaknesses of the organization that will help to be eliminated and manage the threats that would catch the attention of the management. (Opportunity) What demographics are we not targeting? A SWOT analysis is used to strategically identify areas of improvement or competitive advantages for a company. The ukay shopping phenomena all started in Baguio. Reports state that ukay businesses generate 1.2 million daily. Enter the email address you signed up with and we'll email you a reset link. It does not store any personal data. FAQ | Managing an ukay-ukay store business often involves a lot more physical effort than other types of businesses. Its total assets decreased by 8.68% over the same period. Armed with the ranked list of strengths, weaknesses, opportunities, and threats, it is time to convert the SWOT analysis into a strategic plan. Data- factual information as measurements or statistics used as a basis for reasoning. In the top-left square, you record Small (three employees) can change and adapt quickly. The researchers decided to conduct a research which concerns about the nature of ukay-ukay industry. When drafting a SWOT analysis, individuals typically create a table split into four columns to list each impacting element side by side for comparison. To inform people also about its disadvantages. First, a company assesses its internal capabilities and determines its strengths and weaknesses. SERP-P According to Abueg, ukay-ukay is a very affordable source of fashionable yet durable clothing material for those with relatively low incomes. Most of the costumers are females. PEST Analysis (Political, Economic, Social and Technological) is an analytical method used by companies to determine what major external factors could affect their business. Brand management is a marketing function that uses brand management techniques to increase the perceived value of a product line or brand over time. 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.

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