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. 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. We see them in almost every corner in the Philippines: in wet markets, in dilapidated buildings, in side streets, and in plazas, among many others. However, if these clothes were goods that were intended to be given to them anyway, theyve only become another victim of an underground ukay trade that also rips off millions from the government. What once started as a charitable act has indeed become a multimillion-peso trade. BUS_RESEARCH You give good ideas. According to the interview most of the ukay-ukay store owners price their products based on the quality and the brand of the stocks. Necessary cookies are absolutely essential for the website to function properly. Ukay-Ukay secondhand clothes, bags, hats, shoes and etc. 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. To keep client loyalty, a discount of Php10-20 is acceptable, if it would still end in a profit. All beggars in the country would have been clothed already like fashion models at that, DWSDs Elma Pille said to Newsbreak. Philippine Journal of DevelopmentNumber 59, First Semester 2005, Volume To the government, they will realize that even though ukay-ukay imports and sells cheaper second-hand clothes, still it has a great help especially to the citizens who are in the poverty line. Knowing these positive and negative elements can help companies more effectively communicate what parts of a plan need to be recognized. This stage may require substantial debate among analysis participants, including bringing in upper management to help rank priorities. Data- factual information as measurements or statistics used as a basis for reasoning. The cookie is used to store the user consent for the cookies in the category "Performance". Some thrift shops have even already marketed themselves as a seller of class A secondhand clothing. If you enjoy interacting with people, this business is definitely for you. 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. To inform people about the advantages of Ukay-Ukay. This way, you can see how the overall strategy developed from the SWOT analysis will filter down to the segments below before committing to it. Employ a SWOT analysis before you commit to any company action, whether thats exploring new initiatives, revamping internal policies, considering opportunities to pivot or altering a plan midway through its execution. their weekly income is from the range of 2,000-6,000, 5 of the respondents corresponding to 25% said that their weekly income is from the range of 6,000-10,000, 4 of the respondents corresponding to 20% said that their weekly income is ranging from 10,000-15,000 and 3 respondents corresponding to 15% said that their weekly income ranges from 15,000 and 20,000. Strengths (S) and weaknesses (W) refer to internal factors, which are the resources and experience readily available to you. It is very lucrative in cities or even provinces anywhere in the country. Philippine Star. When drafting a SWOT analysis, individuals typically create a table split into four columns to list each impacting element side by side for comparison. Through this analysis, it identified that its strengths were good sourcing of ingredients, personalized customer service, and a strong relationship with suppliers. 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. Physical resources (location, facilities and equipment), Human resources (employees, volunteers and target audiences), Current processes (employee programs, department hierarchies and software systems), Economic trends (local, national and international financial trends), Funding (donations, legislature and other sources), Relationships with suppliers and partners, Political, environmental and economic regulations. The questions serve as a guide for completing the SWOT analysis and creating a balanced list. 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". Ukay-ukay stores sell dirt cheap apparel and fashion accessories from various parts of the globe. The problems encountered by customers of the ukay-ukay business do not significantly affect the economic benefits they derive. The most popular destinations for ukay-ukay is in Baguio, Cebu, Cubao, Anonas, Bluementrit Espana, Mandaluyong, Sta.Mesa and Pasig. If you take the time to put together a formal SWOT analysis, youll be able to see the whole picture of your business. 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 Coca-Cola's shares (traded under ticker symbol KO) have increased in value by over 60% during the five years after the analysis was completed. In the top-left square, you record Consumer confidence in RP down. It effected changes on the shopping practices, lifestyle of the masses, and supplemented the existence of the textile clothing industry. Those who buy clothes from ukay-ukay cried out against the threat of losing a much cheaper, alternative provider of their wardrobe needs. Using a survey questionnaire to gather data from 30 purposive and 100 random samples of entrepreneurs and customers, respectively, this descriptive study aimed to deter-mine the competitiveness, viability, economic benefits and difficulties faced by the business as basis for formulating interventions to uplift the business. As soon as he promoted his video on Twitter, some users started calling him out for gentrifying ukay-ukay, for being burgis, for not acknowledging that shopping in an ukay-ukay is more than a challenge, especially since [proletariats] treat it as a lifestyle. Other users also came to his defense, saying that it is a non-issue when he certainly is not the only person of privilege who shops in ukay (for example, photographer Shaira Luna has talked about her love for ukay countless times) or that hes not influential enough to actually gentrify ukay-ukays. According to Abueg, ukay-ukay is a very affordable source of fashionable yet durable clothing material for those with relatively low incomes. This website uses cookies to improve your experience while you navigate through the website. By clicking Accept, you consent to the use of ALL the cookies. If the term is employed to the context of ukay-ukay culture, then it possibly is. Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. It originated in Baguio City. In addition to data, a company should understand the right combination of personnel to have involved in the analysis. The researchers decided to conduct a research which concerns about the nature of ukay-ukay industry. Dealing with suppliers who are already well-known and have a good reputation among ukay-ukay business owners is the ideal option. Diversity and entrepreneurship in the city of Athens: Different views and ambiguous perceptions of local entrepreneurs. Most of them had a weekly income that ranges from 2000-6000 pesos. Even if the government isnt very active in regards with this law. SWOT analysis was first used to analyze businesses. Out of 20 Respondents, 8 of the respondents corresponding to 40% said that Poblacion in Makati is a perfect example of gentrification, and yet does this stop people from going there? Aside from an engaging social media presence, this business also runs on referrals. of Pages In recent years, the market for secondhand garments has flourished from its considered capital, Baguio City, province of Benguet. The SWOT framework can be constructed in list format, as free text, or, most commonly, as a 4-cell table, with quadrants dedicated to each element. Nature of Applied Ethics: https://t.co/ItYbzNgtbB INSTRUCTIONS Based on the outcome of the discussions made about the topic, you are to writeeee a one page well-thought-out reflexive paper. It originated in Baguio City, where it has been typically called wagwagan, and was later adapted in other places. For example, the company debating whether to release a new product may have identified that it is the market leader for its existing product and there is the opportunity to expand to new markets. 2002. By refining the thoughts that everyone had, a company can focus on only the best ideas or largest risks to the company. 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? Course Hero is not sponsored or endorsed by any college or university. Clothing Poverty The Hidden World of Fast Fashion and Second-hand Clothes, Evaluating competing theories of street entrepreneurship: some lessons from a study of street vendors in Bangalore, India, Trade Analysis of Retail and Service Industries in North Dakota for Planning Local Economic Development, Master international franchising in China: the case of The Athlete's Foot, Key Success Factors in Female Micro Entrepreneurship-A Study of the Catering Business, Indigenous Australians and competition and consumer issues: A review of the literature and an annotated bibliography. engages in property development. WebUkay-ukay, the art of rummaging second-hand stuffs, is widespread in the Philippines: a very trending act of shopping that made a strong impact on the textile and clothing First, a company assesses its internal capabilities and determines its strengths and weaknesses. The time in conducting this research may be limited for each member has a different time schedule and priorities. The Big 4 Firms, 5 Top E-Commerce Sites In The Philippines You Can Build Your Online Store, What Is An IT Company? Anyone can become a mediator, so other construction law firms could open up their own mediation service as well. CONFERENCES Exploring Luxury Department Stores Brand Equity in Thailand. The respondents will be chosen at random, both male and female. This quantitative study collected data from (100) Filipino Gen Z consumers using an online questionnaire for each value. The findings of this study will be beneficial to the following: Theres more to ukay-ukay than the democratization of fashion. Gap analysis is the process that companies use to examine their current performance vs. their desired, expected performance. 8 Top IT Companies In The Philippines. "SWOT Analysis: What It Is and When to Use It. Risk analysis is the process of assessing the likelihood of an adverse event occurring within the corporate, government, or environmental sector. 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. The profit comes quickly because it is computed on a per-sale basis. The fashion retail industry heavily relies on an unsustainable business model of maximizing production, fueling the throwaway culture, regardless of environmental costs. The lack of knowledge about the Ukay-Ukay. Bhd. What often comes into the minds of the Filipino people when we hear the term UK? Since these are used garments, they are sold at less than half their prices (Cabreza 2001). Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Consistent business analysis and strategic planning is the best way to keep track of growth, strengths and weaknesses. For the costumers viewpoint, what are their different perspective about the advantages and disadvantages of ukay-ukay? Since he can only work a maximum of 15 hours a day (Mark, In Cambridge, there are individuals from three different citizenships: Ethiopians, Brazilians, and Americans. Despite hundreds of mediators in the marketplace, only a few have actual construction experience. Startup Costs: How Much Cash Will You Need? A company can use aSWOT for overall business strategy sessions or for a specific segment such as marketing, production, or sales. Limitation are the statements which alert the reader of the research report to certain constraints which the researcher has no control. Ukay-ukay may be considered a special type of good available in the market. 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.. Therefore, a deeper analysis is needed, using another planning technique. Webconcepts to evaluate the sustainability of Philippine ukay-ukay culture. Based on the study, many people are drawn into ukay-ukay or others call it as UK. The analysis team develops the strategy to revisit the decision in six months in hopes of costs declining and market demand becoming more transparent. 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. Our SWOT analysis forced us to methodically and objectively look at what we had to work with and what the marketplace was offering, Weaver said. They strongly believe that Philippines will be better if ukay-ukay will be legalized. FAQ | Ukay-ukay may be considered a special type of good available in the market. 16. 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. In the Philippines, this addiction first started in Baguio or the Ukay-Ukay Capital of the Philippines. 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 Others are recorded as pasalubong for Philippines-based relatives. Academia.edu no longer supports Internet Explorer. The SWOT table is often laid out with the internal factors on the top row and the external factors on the bottom row. It is impossible to accurately map out a small businesss future without first evaluating it from all angles, which includes an exhaustive look at all internal and external resources and threats, Bonnie Taylor, chief marketing officer at CCS Innovations, told Business News Daily. 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. Once youve identified your risks, you can then decide whether it is most appropriate to eliminate the internal weakness by assigning company resources to fix the problems, or to reduce the external threat by abandoning the threatened area of business and meeting it after strengthening your business, said Bauer. 2013. Dana's indifference curves form a.right angles b.The answer cannot be, Mike likes beer and fried chicken and views them as perfect complements: for each bottle of beer, he likes to eat 3 pieces of fried chicken. But many people would love it if the government will abolish the law. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. GUIDE, Dana cannot taste any difference between Coke (c) and Pepsi (p) and so she views one bottle of each as perfect substitutes. Scope coverage or boundaries of the study in terms of the area or locality and subjects of the population covered during the study. That the costumers or ukay-ukay fanatics wont prefer buying ukay-ukay underwear because you might get reproductive diseases. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The task of initially cleaning or washing your goods is already tiring itself. Some source interviews were conducted for a previous version of this article. Additional analytic tools to consider include the PEST analysis (political, economic, social and technological), MOST analysis (mission, objective, strategies and tactics) and SCRS analysis (strategy, current state, requirements and solution). The researchers will conduct a research among the Ukay-Ukay stores in Tacloban City, Leyte. and then Add to Home Screen. (2016, Apr 21). Doon ko nabili 'yung first ever pair ko of Birkenstock for only P600. Then-Vice President and Social Welfare Secretary Gloria Arroyo, who has experience in dealing with the textile and garments sector during her time as trade undersecretary, then issued a department order to prohibit the import of used clothing. WebUkay-ukay is most normally used to mention to the industry that caters to the sale of secondhand imported garments. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". External forces influence and affect every company, organization and individual. 14, Filipino Gen Z Consumer Behavior Towards Ukay-Ukay and their Role in a Circular Fashion Economy, Jodi Aedrienne L. Bengzon, De La Salle University Integrated School (Manila) 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 author completed his Master of Arts in Economics from the University of the Philippines School of Economics (UPSE), Diliman, and a preview of his thesis was published in the Philippine Journal of Development. ukay-ukay; circular fashion economy; second hand clothing; consumer behavior; Gen Z, Home | The analysis can show you key areas where your organization is performing optimally and areas where operations need adjustment. All rights reserved. The latest financial highlights indicate a net sales revenue drop of 17.12% in 2021. Abstract Conventionally, street entrepreneurs were either seen as a residue from a pre-modern era that is gradually disappearing (modernisation theory), or an endeavour into which marginalised populations are driven out of necessity in the absence of alternative ways of securing a livelihood (structuralist theory). From there, you can discover ways to improve or eliminate your companys weaknesses and capitalize on its strengths. 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. imported from other country. Wherein that place, we interviewed 20 costumers and 20 ukay-ukay store owners. However, it also noted weaknesses and threats such as foreign currency fluctuations, growing public interest in "healthy" beverages, and competition from healthy beverage providers. The result of the survey was tabulated. The six forces model is a strategic business tool that helps businesses evaluate the competitiveness and attractiveness of a market. Thank you so much for accepting my assignment the night before it was due. A SWOT analysis focuses on the four elements of the acronym, allowing companies to identify the forces influencing a strategy, action or initiative. Don't use plagiarized sources. With ukay-ukay, there will always be something for someone. Coffee is only sourced from Brazil and Ethiopia. The Temptation of the Shopping Center: How to Avoid Distracted Shopping. First, it has a different marketing and sale process. In 2002, the Macapagal-Arroyo banned the entry and sale of ukay-ukay items in the market. WebEspecially if you're into authentic leather bags & shoes. WebSWOT 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. The tremendous growth of this business phenomenon is observed in Santiago City.