MAR030-3: Specialist Project Assignment Sample

Introduction

As the economies all around the world are increasing rapidly, there come diverse opportunities to grow business profit and sales. It has become essential, nowadays, to internationalise the business or organisation for staying competitive. Diverse trends are enhancing in the chosen pathway that can be beneficial for the organisation’s growth and can affect it as well. According to Srivastava et. al. (2020) international business markets are evolving rapidly which makes it essential for an organisation to take advantage of changing business environment for building a niche for the company. Based on the increasing trends of globalising business to stay competitive the essay will critically focus on defining the current technologies that are emerging rapidly and the way it is beneficial or brings threats to chosen industry. For this purpose, the essay will highlight current development in the clothing sector and the way these sectors are affected. The primary scope that will be analysed is about the emergence of technologies and the way it has changed developments in the clothing sector. It will concern the development of e-commerce.

Background

International business is described as the trade of goods, technology, services, capital, and knowledge all around the world through the utilisation of diverse strategies. The trend of globalising business across foreign borders is increasing rapidly. It is not only beneficial for an organisation’s profitability but also enhances the economic growth of a country to a great extent (Szkudlarek et. al. 2020). In the urge to increase profitability, expanding business and sale overseas, diverse firms are implementing strategies to achieve business success and operate in the international market adequately. Diverse factors that can affect growth include culture, demographics, consumer demands, economies, politics, and many more. An international business planning to expand should be aware of these entire factors.

Following that, it can be observed that the pandemic hit the world and worsen the situation of every sector in some way. It has changed the way consumers are buying along with their spending power due to economic declination. Even though, technological developments are increasing rapidly and providing better opportunities for the retail sector to grow. During the pandemic period, technological innovation has changed the dynamics along with changing the way consumers shop (Yaprak et. al. 2021). Based on this, the essay will critically highlight some current technological developments that are shaping the fashion sector in different dynamics for internationalising their business and achieving success.

The essay will focus on diverse technological trends in the sector and the way it affects international business. Following that, the essay will critically describe the global strategic rivalry theory and national competitive advantage theory. It would help in understanding the concept of technological evolution and the reason the clothing sector should adopt them effectively (Ghauri et. al. 2021). In this way, the scope of the essay to identify the current developments in technology in the clothing sector will be achieved.

Initially, the essay will focus on describing the way technologies are impacting the fashion industry followed by diverse technological trends that have evolved in the industry that could act as an opportunity or threat. In addition, it will also utilise the two theories described above to justify the choice of impact. It will them critically reflect on the major themes developed along with the learning from this task.

Part 1: Major Themes

Technological developments and its effect on international business

In the last decade, technologies have grown exponentially and it has not only affected the business organisation but the everyday life of an individual as well. Technological development has brought diverse facilities that have made life easier and made it rough to some extent as well (Christofi et. al. 2021). It has impacted all the industries in some or another way along with international business. Positively, technology is thriving international business and trade possible and without it, growth would be slower and time-consuming. On the other hand, technological development in the sector has increased competitiveness among organisations and made it necessary for them to adopt technologies to satisfy consumers. As opined by Nambisan et. al. (2019) technology is no longer limited to the use of computers or smartphones; it has developed the way transportation, production, manufacturing, e-Commerce, market globalisation, and online banking and shaped consumer purchasing behaviour as well.

Concerning this, technologies are evolving rapidly and the way international business is done today won’t be done this way after 1 year or maybe more or less. As the technology has emerged it has made doing business international conveniently along with offering diverse ways to reach the new consumer. It has also shaped the way consumers are buying and making payments (Pergelova et. al. 2019). Technological development has increased the capability of bringing innovation and enhanced productivity as well. For example, the emergence of online banking and digital payments has made it easier for international businesses to expand overseas and grow exponentially. Following that, technological development in marketing has helped international businesses in expanding and reaching the potential customer base easily.

In doing international business, the core component behind achieving success is to identify culture and customer dynamics. As customer needs and demands are changing rapidly making it is competitive for foreign companies to survive (Hervé et. al. 2020). Therefore, it is necessary to understand customer demands and market trends to achieve growth and success in the market. Technology has changed the dynamics and made it convenient for organisations to identify customer demands, market trends, competitor’s performance, and many more factors that can affect an international business. In this way, technology has changed international business and the process of globalising as well.

Impact of technological development in fashion industry

Technological development is not limited to technologies being used by individuals for connecting with the outside world but it has also been used in every business sector to improvise business performance and growth (Grewal et. al. 2020). The fashion industry has been shaped differently as the technologies are evolving. The most prominent impact that technology has on the fashion industry is the change in shopping patterns that has replaced the traditional shopping experience. Technology has brought transformation that is changing dynamics and competition in international business. It is expected to grow exponentially because of this technological advancement. It has been predicted that it will grow by $3.3 trillion by 2030. As per Akram et. al. (2021) technological developments are not only beneficial for companies but also benefit customers. Some of the technological advancement include cashier-less stores, facial recognition, autonomous delivery robots, store assistants, AI, IoT, AR/VR, and many more that is replacing traditional ways of shopping.

The most prominent technological development that is being adopted by most of the organisations operating in the fashion industry is e-commerce. E-commerce was there before the pandemic but it has achieved significant growth after the pandemic that has affected the clothing sector. In an international business environment, e-commerce is adopted by many organisations (Meraviglia, 2018). With the help of mobile applications, and websites customers can buy online while staying home. It helps customers in accessing diverse varieties of products at different prices. On the other hand, online shopping patterns have helped brands and organisations in this sector to export products overseas with the help of digital technologies. For example, Urbanic and Shein are online shopping platforms delivering in different countries worldwide without any physical existence in that country. With the help of technology, they can connect with customers, resolve queries and also analyse their current demands. Through this, they can also reduce their overhead costs like operating a physical store.

Figure 1: E-commerce in fashion industry.

(Source: Ahmed, 2019)

Moreover, many organisations in the fashion industry are also utilising social media websites to sell clothes and reach new market segments. Social media platforms are the ever-growing platform allowing brands to advertise market and promote their products. In comparison with traditional marketing approaches, digital marketing approaches are cost-efficient, reaches a wider audience, and use technologies brands can also get analytics about how well the brand is operating (Jin and Shin, 2021). In addition, technologies have also allowed the fashion sector in offering customised clothing pieces as per consumer demand. These technologies are helping the industry to grow and increase its customer base by utilising effective strategies. Technological development increases the market competitiveness at both domestic and global levels. Development of technologies has enhanced opportunities for internationalising the business and it increases the threat for companies that are still operating using traditional methods and making it difficult for them to survive.

Latest technologies in fashion industry

Artificial Intelligence (AI): AI is used in the fashion industry in numerous and innovative ways. As per Luce, (2018) it helps in gaining insights into the emerging fashion trends, analysing customer needs and demands, assisting in the design process, collecting data, and many more. In today’s world of internationalising, it has become challenging and complex for companies to identify consumer needs and demands. Thus, with the use of AI, this can be done. For example, Urbanic, a London-based fast-fashion brand that operates on e-commerce without any brick and mortar store has a zero inventory model and offers quality products at a reasonable price. They utilises AI to manage diverse sort of waste primarily for analysing customer demand. Being an online store, they have to manage their international business adequately and must have their primary focus on transportation and product quality. The company uses a personalised recommendation algorithm that helps them in managing their supply chain for upstream factories. It helps them in fulfilling orders, delivery and returns, inventory planning, and producing clothes (Mohiuddin Babu et. al. 2022). Further, AI is used by the company for managing their international business operations and collecting customer insights for further production.

Virtual and Augmented reality (VR/AR): In the fashion industry, virtual reality is a game changer for emerging e-commerce. With the help of this technology, customers are allowed to get dressed virtually and experiment with numerous outfits without visiting the store (Boardman et. al. 2020). VR helps the customer in trying diverse options and it is becoming popular. For example, in 2019, ASOS developed an experimental AR feature known as Virtual Catwalk in their online shopping application. It was designed to enhance customers’ online shopping experience as it allows users to visualise clothes on a human model before purchasing. During the pandemic, when traditional campaigns were not working, the company decided to take advantage of this feature in fashion retail. As per Xue et. al. (2020) they developed a feature known as “SEE MY FIT” in 2020 that allows users to see the way clothes will look in different sizes and it was a realistic-looking setting. The primary benefit of this feature is that it will allow the customer to find the right fit for them and reduce the emerging problem of returns while online shopping because the product was looking good but it doesn’t suit their body after buying.

Furthermore, this technology can not only be seen while shopping online but in offline retail stores as well. Timberland has developed a magic mirror that allows customers to get dressed virtually in selected garments from the collection (Ulriksen, 2019). They have developed a virtual fitting room at a shopping centre in Poland. This was beneficial for comparing different outfits conveniently and quickly. Hence, international business and the development of technologies help in enhancing customer services to a great extent.

Figure 2: Timberland magic mirror.

(Source: Timberland Augmented reality, 2020)

Robotics: Robotics has also achieved significant success in the past several years as they can reduce human workload. With the help of Machine Learning and AI, the fashion sector can use robotics to improve efficiency at their stores (Barkova, 2020). For example, they can reduce the warehouse fulfilment time along with increase manufacturing speed is highly used in the fashion sector. For example, Zara has developed AI and robotics in their retail store for increasing the speed of online pickup orders. As they have adopted BOPIS (Buy Online Pick-Up in Store) concept for improving customer experiences. With this feature, customers can place an order online and collect their products from Zara’s physical stores. For reducing the issue of customers waiting for long-queue, Zara has introduced AI Robots that help in fetching products from the back and enhance the speed of the in-store collecting process. They have first implemented and checked this technology in Spain store and it worked effectively. Following this success, they have recently launched a completely digital store known as a pop-up store in the UK. This technological development has changed the way the fashion industry operates.

Global Strategic Rivalry Theory

The theory states that it is necessary for any organisation expanding overseas to overcome several obstacles that can become barriers in their path to success and in achieving influential recognition in the international market. For this purpose, in-depth research and timed development are necessary (Jeyarajah, 2019). The theory suggests the ways that can help the organisation in gaining a competitive advantage against other global firms in a particular industry. While doing business internationally, some factors that need to be noted and optimised are economies of scale, ownership of intellectual property rights, research and development, unique business practices, and technological development.

Based on the topic chosen, it can be seen that while conducting business internationally in the clothing sector, any organisation that is already operating at an international level or planning to expand must focus on their competitors and their strategy. It can be observed that to compete against different brands and for securing a competitive position in the market different brands are adopting technologies. They are doing so to attract customers and provide them better service in comparison with other brands so they can achieve a competitive advantage. Hence, as per the theory, it is clear that conducting business internationally is challenging and complex. Thus, every organisation needs to research the market and technologies they are utilising to meet customer demands adequately.

Porter’s National Competitive Advantage Theory

Based on this theory, Porter stated that the competitiveness in a sector primarily depends on an industry’s capability to upgrade and innovate. The theory explains the reason behind the competitive nature of some nations in some sectors. For this purpose, four determinants were identified including the local market and demand conditions, local market resources and capabilities, local suppliers and complementary industries, and local firm characteristics (Rawat, 2019). Local market resources and capabilities reflect a nation’s resources as primary factors in identifying the products the country will export or import. In international business, the clothing industry must identify whether the products they are planning to sell in a particular nation will be imported or not before expanding.

For example, in some countries like Afghanistan and Pakistan that doesn’t follow western culture signifying that the products the brand sold are not in demand. Hence, for this purpose, Zara has an online store in Pakistan that sells appealing and eye-catching products that are demanded by Pakistan’s customers. Henceforth, the local market resources and capabilities state that Zara needs to adapt to Pakistan’s culture for selling products there.

Figure 3: Porter’s National competitive advantage theory.

(Source: International trade theories, 2022)

Local market demand conditions force brands to innovate and adopt technologies. It can be observed that the technology one brand adopts in one country doesn’t mean that it will have it in another nation as well (Gorynia, 2019). It is because that nation doesn’t have this must demand or innovation. Therefore, the international business organisation needs to focus on different nations and markets to achieve a competitive advantage as per this theory.

Issues in international business due to technological development

The above description is about the positive influence of technological development in the fashion industry while doing international business. There are some negative points that brands have to face while operating internationally. The major issue that the fashion industry faces in international business is the increased level of competitiveness (Goworek et. al. 2020). The competitive nature of brands in the fashion sector is increasing rapidly which makes it challenging for an organisation to operate. Even the organisation that is planning to expand overseas will face tough competition from both domestic and international brands. Further, it makes it difficult for a brand to identify which technology should they adopt to address a particular issue. While, on the other hand, companies have to analyse the difference in technological trends from one country to another as the technologies are evolving rapidly.

Furthermore, the demand of customers is changing frequently making it more difficult to identify the products and innovate them that best suit customer demands and market trends. In today’s fast-fashion world, technological advancements provided support in offering better customer services but it has increased the issue of environmental concern (Jia et. al. 2020). Due to emerging trends, the fashion customer follow is changing which increases the amount of waste generated that affects the environment to a great extent.

Moving ahead, technological development is beneficial for MNCs and brands operating at the international level. But the SMEs that are operating face difficulties in adopting such technologies as it requires huge investment. Poor adoption of technology in SMEs made their survival difficult in today’s era of international business (Eden and Nielsen, 2020). In addition, clothing companies following the traditional method of selling and buying are also facing issues due to the emergence of e-commerce. It has directly affected their sales and profits.

While internationalising, brands have to focus on diverse cultural differences the country has in comparison with the host country they currently operate. The companies must identify the difference in the culture and their fashion to achieve success and growth in the international market. While managing business overseas, the company has to manage their teams belonging to a different culture, they have to sell products to the consumer following different culture, and running an overseas business production facility can raise the issue while operating business globally (Boussebaa, 2020). For example, the brand can use social media as their marketing platform for attracting consumers but the way to market the product there could be highly different from the host country of the brand. They can use technologies to target consumers but the language and cultural barriers are still there.

With technological advancements, the issues related to privacy and security threats have increased. Government has different rules and regulations related to the privacy of customers that brands have to follow and even they have to develop technologies keeping this in concern; otherwise, it can affect their brand reputation and image (Muhammad et. al. 2018). The privacy-related issues can be responsible for stealing customers’ private data or misusing it for some illegal purposes. Therefore, it has become necessary to stay aware of these laws and issues o protect the brand image.

With the increased technological development, brands will become less dependent on labour and the human workforce due to the introduction of robotics and AI. It would raise the issue of unemployment. This could affect the source of income for many labours and humans. These are some issues concerning technological development in international business that needs to be addressed adequately in the fashion sector. In international business, brands must evaluate diverse external factors that can affect their growth and development (Madsen, 2019) They can utilise diverse theories and models as well. Other than that, the pace of innovation and creativity in the international market they are going to operate in needs to be analysed as well for bringing adequate innovations.

Connection to research question

As described above, it can be observed that technological development has shaped the fashion industry and is also affecting the way international business in that industry has been done. Technological development has been discussed concerning its impact on international business and the clothing sector. Following that, diverse technologies that have been used by brands have been described adequately. From the observation, it can be depicted that brands are adopting technologies for providing better customer services and to reach a wider audience (Soni et. al. 2021).

For example, the development of an e-commerce platform and the use of AI have helped a brand to operate its business internationally without operating a brick-and-mortar store. On the other sight, in international business, the technologies being used in one country could be different in another and it has been chosen and implemented based on customer demands and market competitiveness. Other than that, technologies have also helped in identifying customer demands and needs that are helping the fashion sector in either standardising or adapting to consumer needs for achieving success in foreign markets.

Additionally, the essay has also connected the research question to the several issues that the fashion sector can face because of current development in international business. It signifies that while operating internationally brands need to identify barriers that can affect their growth and success as well. The debate in the essay states that technological development could be better for one company in the fashion industry; whereas can affect the international operation of another negatively (Iammarino et. al. 2018). Therefore, the current development in the chosen sector comes with both advantages and some disadvantages that the company needs to be aware of while doing business internationally.

Furthermore, the evidence offered is some industry example that reflects on current development (technological development) in international business in the fashion industry. The literature section has also utilised two theories reflecting on the competitive advantage that an organisation has to achieve while operating in an international business environment. Further, the examples provided are evident to the topic chosen and justify the current development as well.

Part 2: Critical Reflection

This part aims at reflecting on the findings from the major themes described above. In this, the reflection on positive points described current developments in technologies affecting the way international business is done will be elaborated. In addition, it will also reflect upon the evidence used to describe the current developments along with some real-life brand examples and the way they affected their international business operations will be implicated as well. It will also discuss the several challenges that the fashion sector is facing due to technological development. At last, the learning from the entire task will be demonstrated.

From the entire research, it has been found that technologies are evolving rapidly and shaping the dynamics of international business. It can be seen that technological advancements have shaped the fashion sector both positively and negatively (Gazzola et. al. 2020). The point of discussion initiated that the rapid adoption of e-commerce in the fashion industry has replaced the traditional way of buying. Thereby, the first issue identified here was the impact of e-commerce on companies that are operating internationally but using only brick-and-mortar stores for sales and revenue generation. It has been discussed that e-commerce was in use before the pandemic but the pandemic was responsible for its increased use among consumers. The impact was highly seen on the international business of some companies operating using traditional business models (Guercini et. al. 2018). They are fighting for their survival due to technological revolution worldwide.

The essay also critically reflects that the speedy adoption of e-commerce has made it more convenient for shoppers to purchase from anywhere and everywhere. This development has supported international business as well. The emergence of e-commerce has allowed fashion brands in expanding business overseas using exporting as their marketing strategy without the involvement of third parties. This has allowed companies to expand overseas without even operating brick-and-mortar stores there. Therefore, this point of discussion reflects that international business has increased because of technological development and some stores have faced difficulty in their survival as well because of this development (MS Irwan Hariandi, 2019). Looking at this, even SMEs are adopting several digital platforms to reach a wider audience and sell in international markets. From this, it has been learned that slowly or steadily technology will bring the development of e-commerce and even traditional stores will adapt to it for surviving in the international market.

Another point of reflection from the essay discussion states the increased competition in international business due to current development in the fashion sector. Technologies are evolving one after the other and companies operating in the fashion industry are trying their best to cope with the changes. In a traditional market, the competition was low but with this development competitive force in international business has increased to a great extent. It signifies that even MNCs are competing against one another to attract more customers and generate more revenue (Irfan et. al. 2019). It highlights the issue that they are competing in the international market by adopting technologies to meet customer demands and provide better customer service. The above examples also signify that they are adopting technologies differently in different markets. It is because every country follows some different technology. It has increased the requirement for investment to adopt technologies and compete in the current market.

On the other hand, the technological evolution has made it difficult for SMEs and some traditional marketers to adopt these technologies as it requires huge investment which not everyone is capable of. From this, it has been learned that technological development in international business will change the dynamics regularly and will have to compete in tough competitive market.

Another prominent issue identified in the current development in international business is that the rate of unemployment will increase in the coming future. The development of robotics and AI will replace diverse human labours and workers making them unemployed. In the fashion sector, robotics has come and even some brand utilises robots for completing warehouse operations for quick and efficient work delivery (Mfanafuthi et. al. 2019). This has replaced diverse labour forces that have affected their lifestyle. It has been learned that in the coming future the unemployment rate will be increased.

Due to technological advancements, customers have varieties of options from which they can choose. For example, many brands have their e-commerce platforms allowing the consumer to search for products, compare prices or quality and choose the best as per their demands (Smelik, 2018). It is a great development in customer service that current development in international markets has brought. It has allowed consumers to buy from another country as well if the brand is delivering the product to that particular country. This has offered various options and choices in front of customers.

The issues related to this reflect upon the emergence of fast fashion that affects the environment to a great extent. Fast fashion is increasing and many brands have adopted this business model as well. From the research, it has been found that fast fashion is the major contributor to environmental harm. Concerns related to environmental pollution and sustainability are increasing and due to fast fashion, clothes consumers buy have a very short product life cycle that further affects the environment (Brewer, 2019). As the trend in the fashion industry is changing rapidly, consumers are willing to buy trendy new clothes but this affects the environment. Therefore, current development will benefit customers but is affecting the environment.

In this way, current development is beneficial for the fashion industry in international business but it has several disadvantages as well. The essay critically debates diverse positive and negative points of current developments and the way their emergence would affect the future of international business as well. It has been reflected that technological development offers diverse opportunities to brands to reach a wider audience, increase efficiency in their business operations, attract new customers and achieve growth and success. On the other hand, these technologies are affecting in some or other ways as described. But the current development in the fashion industry will increase in the coming future and enhance the efficiency of doing international business as well.

Conclusion

The essay is focused on describing the impact of technological development in fashion industry on international business. For this purpose, diverse models, theories and concepts have been utilised along with evidence form some organisations operating in fashion industry. It has been concluded from the entire analysis that e-commerce is the most notable technological advancement that is being embraced by the majority of organisations working in the fashion sector. In light of this, the first problem noted here was the effect of e-commerce on businesses that operate globally yet rely solely on brick-and-mortar storefronts for income production. As technologies advance, the fashion business has taken on new forms. The shift in purchasing habits that has supplanted the conventional shopping experience is the most obvious effect of technology on the fashion business.

Cashier-free stores, facial recognition, autonomous delivery robots, store assistants, AI, IoT, AR/VR, and much more technical advancement are some of the ones that are replacing conventional shopping methods. AI aids in a variety of tasks, including data collection, client demand analysis, design assistance, and insight into upcoming fashion trends. It is now difficult and complex for businesses to determine the wants and demands of consumers in today’s globalised environment. Fast-fashion Company Urbanic, based in London, uses AI to manage various types of waste, particularly for analysing consumer demand. Being an online retailer, they must effectively manage their global business with a particular focus on shipping and product quality.

Moving ahead, the use of AR/VR has been reflected in the debate of current technological development. It has been concluded from this that one brand like Timberland has implemented magic mirrors allowing customer to try different outfits virtually; whereas, ASOS has implemented this technology on their online website. This reflects on the market competitiveness that has been increased due to technological enhancement. Further, reflecting on this technology it has been depicted that this creates an issue for brick-and-mortar stores that are not capable of investing in AR/VR and this increases their competitive force to survive in the market.

Since they can lessen human workload, robots have also seen a lot of success in recent years. Robotics can be used by the fashion industry to increase retail efficiency with the use of machine learning and artificial intelligence. The case of Zara, who employed AI and robots in their retail store to speed up online pickup orders, is critically discussed in the essay. Their way of life has been impacted by the replacement of varied labour forces. It has been discovered that the unemployment rate will rise in the near future. Concerns about environmental pollution and sustainability are growing, and fast fashion is to blame for this since the garments people buy have a relatively short product life cycle that worsens environmental effects. Therefore, the issues and positives of technological development has been reflected in the essay keeping the case of fashion industry in international business in concern

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Online

Ahmed. A. (2019). How Technology Is Shaping The Future Of The Fashion Industry. [Online]. Accessed through: <https://ariiyan.medium.com/how-technology-is-shaping-the-future-of-the-fashion-industry-3f9465a7fd37>

International trade theories. (2022). [Online]. Accessed through: <https://biz.libretexts.org/Bookshelves/Business/Advanced_Business/Book%3A_International_Business/02%3A_International_Trade_and_Foreign_Direct_Investment/2.02%3A_What_Is_International_Trade_Theory#:~:text=Global%20strategic%20rivalry%20theory%20emerged,global%20firms%20in%20their%20industry.>

Timberland Augmented reality. (2020). [Online]. Accessed through: <https://www.youtube.com/watch?v=5TZmQPdhpak>