swot analysis of ukay ukay

All outfits will be, locally developed hand crafted, and solely manufactured from reworked linen and cotton, One of the companys goal is to produce high quality items at a reasonable cost and with. Just like any other business, the success of an ukay-ukay business is mostly determined by the owners efforts and traits. Whether these factors are connected directly or indirectly to opportunities (O) or threats (T), it is important to note and document each one. The researchers gathered data by using structured questionnaire to be answered by the respondents. Many entrepreneurs enjoy running a business just within the comforts of their homes. of Pages In recent years, the market for secondhand garments has flourished from its considered capital, Baguio City, province of Benguet. Philippine Journal of DevelopmentNumber 59, First Semester 2005, Volume Additional materials, such as the best quotations, synonyms and word definitions to make your writing easier are also offered here. The researchers prepared the necessary data measurements from the entire interview in the structured questionnaire. (Threat) How many competitors exist, and what is their market share? Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. The company's main field of business will be in Quezon City, with a target market of thrift clothing lovers in their 20s. The problems encountered by customers of the ukay-ukay business do not significantly affect the economic benefits they derive. Some people would resort to buying ukay-ukay items because the latter are relatively homogenous with the brand new garments and accessories that may be bought in relatively high-class stores and shopping malls. He also explains that Philippine-made textiles and garments are said to be 30 percent more expensive than their counterparts in the market, due partly to the inefficient local production and technology processes as well as their relatively low productivity. The SWOT analysis is a simple but comprehensive strategy for identifying not only the weaknesses and threats of an action plan, but also the strengths and opportunities it makes possible. What occurs within the company serves as a great source of information for the strengths and weaknesses categories of the SWOT analysis. Scope coverage or boundaries of the study in terms of the area or locality and subjects of the population covered during the study. But many dont mind about the law that prevents from selling ukay-ukay. The Federation of Philippine Textile Industries was also worried that the ukay-ukay trade would affect the businesses of legal garment manufacturers. Meron ding 3 ukay stores sa Cainta Junction, sa tabi ng Puregold! Research-the collection of information about a particular subject. 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. According to hearsay, its origin started way back in the 80s. Thank you so much for accepting my assignment the night before it was due. In order to buy pizzas, he is looking for a job that pays him a wage of $ w per hour for L hours of labor. Philippine Star. Ukay-ukay may be considered a special type of good available in the market. First, it has a different marketing and sale process. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. 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. If the term is employed to the context of ukay-ukay culture, then it possibly is. Managing an ukay-ukay store business often involves a lot more physical effort than other types of businesses. 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. Most commercial construction contracts require mediation. No one has been a mediator before or been through any formal mediation training programs. - Buy Rainbow Factory Ukay Bales Wholesale Second Hand Cotton Clothing Mixed Used Clothes Bundlepopular,Rainbow Factory Ukay Bales Wholesale Second Hand Cotton Clothing Mixed Used Clothes Bundlepopular,Rainbow Factory Uka , 16 September 2001: B1,B3. A SWOT analysis covers both the internal factors a company can manage and the external factors that may be more difficult to control. What once started as a charitable act has indeed become a multimillion-peso trade. Since these are used garments, they are sold at less than half their prices (Cabreza 2001). In a study by Rina Locsin, where she zoomed into the culture of ukay-ukay in Baguio, she states that it is difficult to determine the exact date of when the ukay-ukay started in the country. Every questions was answered by the said respondents honestly. The fashion retail industry heavily relies on an unsustainable business model of maximizing production, fueling the throwaway culture, regardless of environmental costs. Skye Schooley is a human resources writer at business.com and Business News Daily, where she has researched and written more than 300 articles on HR-focused topics including human resources operations, management leadership, and HR technology. Primary Data- are the data that are collected to help solve a problem or take advantage of an opportunity on which a decision is pending. Second, how it enters the market is unique. This created discontent among its patrons, who look at ukay-ukay goods as the most affordable in the market. Ukay Serye Clothing line is made from renewable fabrics that are transformed into, fashionable, eco-friendly pieces that any costumer would love to have. Bambang in Manila have also become a used clothing district and Locsin says that thrift shops in the area became profitable businesses because a young generation looked into the ukay culture as a source of vintage clothing.. She now writes for a number of websites and other online media publications. 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. Most potential clients have a negative impression of mediation, because they feel mediators dont understand or care to understand the problem, and rush to resolve it. In their viewpoint, the topmost reason why they prefer to buy some clothes in an ukay-ukay store because it has cheap and affordable price. 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. According to Luisito Abueg, who studied the economics of secondhand retail trade in the country, ukay items have largely been purchased in warehouses in Hong Kong that store Salvation Armys clothes. The advantage of an ukay-ukay store business is that it has a basic business plan that is easy to learn. Ukay-ukay is most commonly used to refer to the industry that caters to the sale of secondhand imported garments. Armed with the ranked list of strengths, weaknesses, opportunities, and threats, it is time to convert the SWOT analysis into a strategic plan. Value Chain Analysis: What It Is and How to Use It, Six Forces Model: Definition, What It Is, and How It Works, What Is PEST Analysis? With the spread of ukay-ukay stores, the practice of buying thrift items has become popular among Filipinos. 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. According to the interview most of the ukay-ukay store owners price their products based on the quality and the brand of the stocks. Start An Ukay Ukay Store Business Summary Startup Costs Pros & Cons Marketing Ideas Trying to understand the pros and cons of starting an ukay ukay store It is suggested that the issue of urban diversity should be opened up to public debate, the aim being to understand and adequately address all its multiple aspects and effects on entrepreneurship and everyday life in general. The Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay. Risk analysis is the process of assessing the likelihood of an adverse event occurring within the corporate, government, or environmental sector. Use these free downloads to help grow your business. From there, you can discover ways to improve or eliminate your companys weaknesses and capitalize on its strengths. "Home Depot SWOT Analysis & Recommendations.". 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. In a thesis titled Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay by Luisito Abueg, the history of the ukay-ukay, the policies Mostly, ukay-ukay store owners answered Cebu City for the question where did they get their stocks?. To better understand how it competes within the smoothie market and what it can do better, it conducted a SWOT analysis. > Tabulation and analysis of data gathered was done after collecting all questionnaires. SWOT analysis works best when diverse groups or voices within an organization are free to provide realistic data points rather than prescribed messaging. Checking whether your current methods and plans remain the best way forward can help you keep up in an ever-changing business climate. This cookie is set by GDPR Cookie Consent plugin. The respondents will be chosen at random, both male and female. In a thesis titled Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay by Luisito Abueg, the history of the ukay-ukay, the policies that govern the underground industry, and what it all implies for the Philippines as s struggling economy are painstakingly discussed and dissected. There have also been a surge of online shops that sell vintage clothes, style the pieces to make the pieces more attractive to middle-class taste, and sell them in a much higher price. This ukay-ukay place can be reached easily since it is accessible through the MRT or LRT 1 lines. SWOT analysis was first used to analyze businesses. Despite hundreds of mediators in the marketplace, only a few have actual construction experience. Altogether, this research has verified past empirical findings and contrasted these against the context of Filipino Gen Z consumers. Besides evaluating the key success factors, the proposed model also suggests 10 success factors that represent a strong contribution to the literature by providing a valuable sub-pack for creating and operating a micro-enterprise. ", Panmore. What does a real-life SWOT analysis look like? For PhP100, you can score three to four items from the selections, but things can go for even lower prices (some even for PhP10) every week because all items must go. It aims to describe the nature of the situation as it exists at the time of the study. The lack of knowledge about the Ukay-Ukay. If we do see a change in landscape, meaning ukay-ukay stores having refined racks, closets, and displays and its surrounding areas having new parks, new security systems, or even new coffee shops, only then can it be safe to say that the area is becoming gentrified. We then crafted our business plan to emphasize the advantages of our strongest features while exploiting opportunities based on marketplace weaknesses.. This is how youll keep your business fresh in customers minds and edge out your competition. Though the elements and discoveries within these categories will vary from company to company, a SWOT analysis is not complete without each of these elements: Strengths describe what an organization excels at and what separates it from the competition: a strong brand, loyal customer base, a strong balance sheet, unique technology, and so on. After that, you still have to organize and pack them. The main argument of the paper is that perceptions of urban diversity differ depending on the individual profile of the interviewees and the aspects of diversity being discussed. These cookies ensure basic functionalities and security features of the website, anonymously. You can learn more about the standards we follow in producing accurate, unbiased content in our. Despite of the law, the Republic Act 4653, this law prohibits the selling of ukay-ukay. Bibliography can be find at the last page of a book and can be used as references of a researcher. The findings of this study will be beneficial to the following: Theres more to ukay-ukay than the democratization of fashion. If you plan on selling your goods online, it needs additional work as you also need to upload photos and label each one of your goods. Ukay-ukay shopping is like treasure hunting, but instead of looking for a treasure, you are literally digging from the piles of clothes which are mostly vintage and of high value. May it be a pair of vintage pants or thrift bags, customers often find something they like. The SWOT table is often laid out with the internal factors on the top row and the external factors on the bottom row. The ukay shopping phenomena all started in Baguio. The proposed model comprises four dimensions (opportunity, resources, management, and personality traits) and establishes and revises 37 assessment factors based on expert opinions. Strengths and weaknesses wont typically match listed opportunities and threats verbatim, although they should correlate, since they are tied together. Don't use plagiarized sources. Most business owners now prefer finding a supplier instead of thrifting goods by themselves. The idea is there is no right or wrong answer; all participants should be encouraged to share whatever thoughts they have. The Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay PJD 2005 Vol. She used to be in the corporate world for a decade but followed her heart and became a writer. This study aims to let people understand all about the ukay-ukay industry specifically about its nature. You can also conduct a personal SWOT analysis in your own life, whether for professional or other purposes. secondhand clothing and garments goods were entered into the local market. However, a SWOT analysis is just one tool in your business strategy. And yet we seldom question where these are coming from, and how they continue to thrive. This study is designed primarily to know why people are really drawn to ukay-ukay and how it can be a great advantage for the people and what are The industry that sprouted out of second hand clothes generates millions in income for sellers, and saves millions more for the people who buy from them. High-quality customer service, strong brand recognition, and positive relationships with suppliers were some of its notable strengths; whereas, a constricted supply chain, interdependence on the U.S. market, and a replicable business model were listed as its weaknesses. Ukay-ukay is so popular since it is a cost-effective option for shopping on a budget. You can get a custom paper by one of our expert writers. , especially that nowadays, the prices are getting higher and higher. The company is undertaking a mixed development project called Ukay Perdana which is located at 7th mile off Jalan Every SWOT analysis will vary, and a company may need different data sets to support pulling together different SWOT analysis tables. 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.

Hint Water Lawsuit Outcome, Oregon High School Wrestling Rankings 2021, What Do Maltipoos Usually Die From, Flip Video Camera How To Charge, Articles S