swot analysis of ukay ukay

According to Abueg, the market for secondhand garments flourished from its considered capital, Baguio City, province of Benguet despite a law that prohibits the wholesale of second hand clothes. 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. Out of 20 respondents (sellers), 6 of the respondents corresponding to 30% said that they price their stock based on the brand of an ukay-ukay, 2 of the respondent corresponding to 10% said that they price their stocks based on the type garment, 11 of the respondents corresponding to 55% said that they price the ukay-ukay based on the quality and 1 of the respondent corresponding to 5% said that they price their stocks by piece. Sometimes its wise to perform a general SWOT analysis to check on the current landscape of your business and improve operations as needed. This quantitative study collected data from (100) Filipino Gen Z consumers using an online questionnaire for each value. Dont make the mistake of thinking about your business operations informally, in hopes that they will all come together on their own. You also have to prepare them one by one for display. The proposed model comprises four dimensions (opportunity, resources, management, and personality traits) and establishes and revises 37 assessment factors based on expert opinions. The researchers decided to conduct a research which concerns about the nature of ukay-ukay industry. Contrary to authorities notion that these commodities are donations from foreign countries, wagwag items are actually purchased from Hong Kong-based Salvation Armys rummage sale sites. Max Freedman and Nicole Fallon contributed to this article. The Philippine Ukay-Ukay Culture as Sustainable Fashion In addition to researching and analyzing products and services that help business owners run a smoother human resources department, such as HR software, PEOs, HROs, employee monitoring software and time and attendance systems, Skye investigates and writes on topics aimed at building better professional culture, like protecting employee privacy, managing human capital, improving communication, and fostering workplace diversity and culture. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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. Issue No. It does not store any personal data. His SWOT matrix included the following: Construction law firm with staff members who are trained in both law and professional engineering/general contracting. SWOT (strengths, weaknesses, opportunities, and threats) analysis is a framework used to evaluate a company's competitive position and to develop strategic planning. This cookie is set by GDPR Cookie Consent plugin. About | ukay-ukay; circular fashion economy; second hand clothing; consumer behavior; Gen Z, Home | The advantage of an ukay-ukay store business is that it has a basic business plan that is easy to learn. Ukay-ukay stores sell dirt cheap apparel and fashion accessories from various parts of the globe. Wagwag items, which usually originate from Hong Kong and the United States, enter the Philippines in a manner different from that of traditional imports. Ask for input from a variety of team members and openly discuss any contributions made. In order to buy pizzas, he is looking for a job that pays him a wage of $wper hour forLhours of labor. The cookie is used to store the user consent for the cookies in the category "Other. Clothing Poverty uncovers how fast fashion retailers and charity shops are embroiled in commodity chains which perpetuate poverty. SWOT analysis assesses internal and external factors, as well as current and future potential. 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. Researcher-the one who conducts the research. 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) The economics of secondhand retail trade: an analysis of the market for ukay-ukay Authors: Luisito Cagandahan Abueg University of the Philippines Los Baos Many entrepreneurs enjoy running a business just within the comforts of their homes. It originated in Baguio City, where it has been typically called wagwagan, and was later adapted in other places. WebUkay-ukay is a very affordable source of fashionable yet durable clothes for those with fairly small incomes. > engages in property development. This ukay-ukay place can be reached easily since it is accessible through the MRT or LRT 1 lines. To run a successful business, you should regularly analyze your processes to ensure you are operating as efficiently as possible. BUS_RESEARCH You can still dispose of items through giveaways or discounts. What occurs within the company serves as a great source of information for the strengths and weaknesses categories of the SWOT analysis. 2013. Home This entailed some implementation cost on the side of the government. Opportunities and threats pertain to conditions outside your organization, such as market trends and regulations. (PDF) Upcycling Fashion "Cool Clothing Ph": Refashioning of With an objective in mind, a company will have guidance on what they hope to achieve at the end of the process. For the poor, thrift shops have been the most practical place to shop for clothes because of its low prices. Meron din sa Sta Lucia Mall, Cainta. This makes it ideal for stay-at-home mothers or students who need a side hustle. The market for secondhand goods grew vigorously across the world. According to hearsay, its origin started way back in the 80s. Identifying core strengths, weaknesses, opportunities, and threats leads to fact-based analysis, fresh perspectives, and new ideas. It's powerful to have everyone in the room discuss the company's core strengths and weaknesses, define the opportunities and threats, and brainstorm ideas. It is recommended to first create a list of questions to answer for each element. (2016, Apr 21). The lack of knowledge about the Ukay-Ukay. The aim of this paper is to explore the role that the increasing urban diversity plays in the establishment, development and competitiveness of entrepreneurship. The most popular destinations for ukay-ukay is in Baguio, Cebu, Cubao, Anonas, Bluementrit Espana, Mandaluyong, Sta.Mesa and Pasig. Aside from an engaging social media presence, this business also runs on referrals. It also concludes that several motivators to purchase second-hand clothing overlap, attracting and retaining consumers into a repeating fashion cycle, validating previous research on the role of consumers in a circular economy. The Federation of Philippine Textile Industries was also worried that the ukay-ukay trade would affect the businesses of legal garment manufacturers. 2002. 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. Weaknesses stop an organization from performing at its optimum level. 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. imported from other country. The six forces model is a strategic business tool that helps businesses evaluate the competitiveness and attractiveness of a market. Well occasionally send you promo and account related email. Despite hundreds of mediators in the marketplace, only a few have actual construction experience. Bhd. With the transformation of secondhand clothing and garments retail and trade into what it is today, the government is now moving to 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. Most respondents (costumers) corresponding to 31%, believe that the advantage of ukay-ukay is that it is cheap and affordable and the least chosen advantage of ukay-ukay corresponding to 4% is that shopping for it can lessen their expense on clothing and also a least advantage is that shopping for it is fun. (Threat) Are there new regulations that potentially could harm our operations or products. 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. Noah Galvez (6 AB DS) notes that brand new Levi 501 jeans would typically range from Php 1,500 to Php 3,000, when you can find the same pairs at an ukay for Php 300 to Php 1,000. Investopedia requires writers to use primary sources to support their work. The questions serve as a guide for completing the SWOT analysis and creating a balanced list. 4 Personal Loans With Low Interest Rates In The Philippines To Fund Your Small Business, 5 Leading Financing Companies In The Philippines, 4 Ways To Contact The Customer Service Of Globe Telecom, What Is The Top Accounting Firm In The Philippines? In 2015, a Value Line SWOT analysis of The Coca-Cola Company noted strengths such as its globally famous brand name, vast distribution network, and opportunities in emerging markets. Locsin says that this period after the second world war coincides with the time the UN Relief and Rehabilitation Administration (UNRRA) gave billions of dollars worth of relief to Asia, which was around 1943 and 1949. In the top-right square, you record strengths. Most people said that the most common disadvantage of ukay-ukay is that sometimes it is not good condition, because of the holes, scratches, dirt and etc. 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. , especially that nowadays, the prices are getting higher and higher. From there, you can discover ways to improve or eliminate your companys weaknesses and capitalize on its strengths. With ukay-ukay, there will always be something for someone. We conclude the following based on our study: Buying or Selling Ukay-Ukay or UK is ILLEGAL. 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 Online Shoppe We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 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). Individuals can also use SWOT analysis to engage in constructive introspection and form personal improvement goals. In 2002, the Macapagal-Arroyo banned the entry and sale of ukay-ukay items in the market. SWOT analysis: What it is and how to use it (with 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. Ukay-Ukay secondhand clothes, bags, hats, shoes and etc. The cookie is used to store the user consent for the cookies in the category "Analytics". Academia.edu no longer supports Internet Explorer. due to the corruption in the government. However, the topmost reason why some of the respondents dont prefer buying in an ukay-ukay store because some of stocks are not in good condition. Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. the disadvantages of ukay-ukay. These cookies track visitors across websites and collect information to provide customized ads. The company was established on August 17, 2005. What often comes into the minds of the Filipino people when we hear the term UK? Only few, Filipinos know that ukay-ukay is illegal. This website uses cookies to improve your experience while you navigate through the website. of ukay The analysis team develops the strategy to revisit the decision in six months in hopes of costs declining and market demand becoming more transparent. 1-c 2007 Volume No. Examples of internal factors include financial and human resources, tangible and intangible (brand name) assets, and operational efficiencies. 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. SWOT analysis works best when diverse groups or voices within an organization are free to provide realistic data points rather than prescribed messaging. The competitiveness and viability of the ukay-ukay business in the long run is an important concern. In the Philippines, non-government organizations (NGOs) in the 80s started selling tax-free clothing as a means to fundraise. Make sure you are honest and efficient in dealing with your customers, so they can tell their friends about your store. Most commercial construction contracts require mediation. The minimum startup costs for an ukay ukay store business: $2,254 The maximum startup costs for an ukay ukay store business: $37,876 The average startup costs for an ukay ukay Its Applications and Uses in Business, Risk Analysis: Definition, Types, Limitations, and Examples, What Is Brand Management? Most of them had a weekly income that ranges from 2000-6000 pesos. Companies should use it as a guide and not necessarily as a prescription. The industry first began with stalls at the sidewalks, and in a span of two years, reports account that the ukay-ukay business already generates a gross income of PhP1.2 million daily. Ukay-ukay - Wikipedia Based on the study, many people are drawn into ukay-ukay or others call it as UK. 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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. These external factors may create opportunities or threaten existing operations. External forces influence and affect every company, organization and individual. First, it has a different marketing and sale process. WebThe Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay Author & abstract Download Related works & more Corrections Author Listed: Abueg, Requirements, How It Works, and Example, Human Resource Planning (HRP) Meaning, Process, and Examples, SWOT Analysis: What It Is and When to Use It, The Coca-Cola Company: A Short SWOT Analysis, Home Depot SWOT Analysis & Recommendations. Since these are used garments, they are sold at less than half their prices (Cabreza 2001). 8 Top IT Companies In The Philippines. Peering within its operations, it identified a few areas of weakness: little product diversification, high turnover rates, and outdated equipment. 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. To determine some facts about Ukay-Ukay and the industry itself. 16 September 2001: B1,B3. The Temptation of the Shopping Center: How to Avoid Distracted Shopping. Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. Then, a company looks outward and evaluates external factors that impact its business. A SWOT analysis can be broken into several steps with actionable items before and after analyzing the four components. Ukay Land Sdn Bhd Company Profile, Financial and Strategic According to Abueg, ukay-ukay is a very affordable source of fashionable yet durable clothing material for those with relatively low incomes. Publisher Editor No. The ukay-ukay stores price their stocks mostly by its quality. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Powered by. Those who buy clothes from ukay-ukay cried out against the threat of losing a much cheaper, alternative provider of their wardrobe needs. Bulatlat.com http://bulatlat.com/main/2011/04/18/the-economics-of-ukay-ukay/, 18 April 2011. SWOT (strengths, weaknesses, opportunities, and threats) analysis is a method for identifying and analyzing internal strengths and weaknesses and external opportunities and threats that shape current and future operations and help develop strategic goals. 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. The ukay trade, however, is not without its own issues of legality. With the spread of ukay-ukay stores, the practice of buying thrift items has become popular among Filipinos. It aims to describe the nature of the situation as it exists at the time of the study. A SWOT analysis can be broad, though more value will likely be generated if the analysis is pointed directly at an objective. ", Panmore. To the students, they will have an option on buying some of their needs especially if they want to save and budget their money. Altogether, this research has verified past empirical findings and contrasted these against the context of Filipino Gen Z consumers. In addition, it also identifies the weaknesses of the organization that will help Ukay Ukay Case Study Solution & Analysis - CaseQuiz.com People ages 20-30 years old mostly likes to shop in the Ukay-Ukay stores and stalls. 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. You can download the paper by clicking the button above. ukay A SWOT analysis won't solve every major question a company has. Philippine Star. She has performed editing and fact-checking work for several leading finance publications, including The Motley Fool and Passport to Wall Street. In addition to data, a company should understand the right combination of personnel to have involved in the analysis. Both values were based on the prevailing exchange rate at that time (Philippine Star 2000). But opting out of some of these cookies may affect your browsing experience. 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. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. 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. However, in an investigation by Newsbreak, the Department of Social Welfare and Development (DSWD) found it suspicious for this particular NGO to be receiving two container vans of clothes monthly.

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