swot analysis of ukay ukay swot analysis of ukay ukay

While authorities had every legal right to confiscate and even bum such items, ukay-ukay stall owners managed to remain unscathed by relocating outside Metro Manila-to locations not usually monitored by the Department of Trade and Industry (DTI) and the Department of Social Welfare and Development (DSWD), he said. 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. Its used for strategic 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. It effected changes on the shopping practices, lifestyle of the masses, and supplemented the existence of the textile clothing industry. 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. According to the interview most of the ukay-ukay store owners price their products based on the quality and the brand of the stocks. 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. 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. In recent years, however, participation in street entrepreneurship has been re-read either as a rational economic choice (neo-liberal theory) or as conducted for cultural reasons (post-modern theory). However, finding the right supplier is not an easy task. Once in the Philippines, these are then sold at prices lower than those of traditionally imported goods. Save my name, email, and website in this browser for the next time I comment. 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. Potential questions to list internal factors are: What happens outside of the company is equally as important to the success of a company as internal factors. Powered by. Threats refer to factors that have the potential to harm an organization. The respondents of this research study are at least 20 customers and 20 sellers of ukay-ukay clothing. Researcher-the one who conducts the research. Accessibility Statement. 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. WebThe Ukay-ukay (a Filipino version of the flaw market) has successfully carved its own niche in the countrys local clothing industry these second-hand clothes stores, shoppers are From there, you can discover ways to improve or eliminate your companys weaknesses and capitalize on its strengths. 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.. Coffee is only sourced from Brazil and Ethiopia. A SWOT analysis is a framework used in a businesss strategic planning to evaluate its competitive positioning in the marketplace. What are the characteristics of a SWOT analysis? The Filipinos dont care how dirty or unsafe ukay-ukay is, they will just wash it properly with soap and disinfectant, and after that you can wear you branded shoes, clothes, bag and other ukay-ukay products. Most of the costumers are females. You can still dispose of items through giveaways or discounts. Aside from an engaging social media presence, this business also runs on referrals. This created discontent among its patrons, who look at ukay-ukay goods as the most affordable in the market. These are then shipped to the Philippines, which are sold at less than half of the prices of the already cheap Salvation Army pieces. Just like any other business, the success of an ukay-ukay business is mostly determined by the owners efforts and traits. Anyone can become a mediator, so other construction law firms could open up their own mediation service as well. Make sure you are honest and efficient in dealing with your customers, so they can tell their friends about your store. an academic expert within 3 minutes. The market for secondhand goods grew vigorously across the world. The term ukay-ukay was derived from the Visayan term halukay which means the act of digging. Don't use plagiarized sources. 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. Give us your email address and well send this sample there. Max Freedman and Nicole Fallon contributed to this article. Well occasionally send you promo and account related email. By refining the thoughts that everyone had, a company can focus on only the best ideas or largest risks to the company. Nowadays it is a term use for place that sell old clothes, bag, shoes, and other pre-owned goods a very low prices (de Jong 2011) The appeal of low-cost clothing continues to entice visitors into these stores in search of branded clothing for cheap prices. Despite hundreds of mediators in the marketplace, only a few have actual construction experience. This will assist you with getting your business up and running. What does a real-life SWOT analysis look like? 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). Every SWOT analysis will vary, and a company may need different data sets to support pulling together different SWOT analysis tables. 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. In general, a SWOT analysis will involve the following steps. A SWOT analysis is used to strategically identify areas of improvement or competitive advantages for a company. To determine how much profit does an Ukay-Ukay business earns. Where did the ukay-ukay owners get their stocks? You give good ideas. Then, a company looks outward and evaluates external factors that impact its business. Since its creation, the SWOT analysis has become one of the most useful tools for business owners to start and grow their companies. Bryan Weaver, an in-house advisor to Scholefield Construction Attorneys, was heavily involved in creating a SWOT analysis for his firm. The questions serve as a guide for completing the SWOT analysis and creating a balanced list. Thus, this study analyzes Filipino Gen Z consumers motivating factors of perceived value, the dynamics of individualism, and investigates their role in the ukay-ukay CE. Some would resort to buying ukay- ukay items because these are 2002. Business News Daily. There is a lot of information available to you on the internet (Facebook groups, Youtube videos, etc). The collective knowledge of the team will allow you to adequately analyze your business from all sides. However, the practice of having video blogs about ukay like that of Guison is more a mainstreaming of the ukay-ukay culture, rather than gentrification. Also part of this mainstreaming are fashion and lifestyle magazines and websites such as Preview, Cosmopolitan, and Inquirer, which have featured the ukay-ukay culture on their platforms from a list of ukay shopping tips to ukay-ukay commandments every thrifty fashion girl must know.. This stage may require substantial debate among analysis participants, including bringing in upper management to help rank priorities. She feared that since these NGOs are licensed by the DSWD, the department would be dragged into cases once they engaged in illegal activities, Pille told Newsbreak. Now, it's often used by governments, nonprofits, and individuals, including investors and entrepreneurs. These include white papers, government data, original reporting, and interviews with industry experts. As a compromise, the secondhand fashion industry (ukay-ukay), is an interesting sustainable alternative since it reduces waste and recirculates clothingtwo integral grounds for a circular economy (CE). Enter the email address you signed up with and we'll email you a reset link. Survey-to examine as to condition, situation, or value. Ukay-ukay is a term used both for the act of shopping by digging up piles of used or pre-loved clothes until Others are recorded as pasalubong for Philippines-based relatives. A SWOT (strengths, weaknesses, opportunities and threats) analysis is a planning process that helps your company overcome challenges and determine which 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. A case study of Central Chidlom and Siam Paragon. 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. For example, a drought is a threat to a wheat-producing company, as it may destroy or reduce the crop yield. Weaknesses stop an organization from performing at its optimum level. This cookie is set by GDPR Cookie Consent plugin. What once started as a charitable act has indeed become a multimillion-peso trade. Clothing Poverty uncovers how fast fashion retailers and charity shops are embroiled in commodity chains which perpetuate poverty. This guide includes basic information about big data and a list of 26 Great Business Ideas for Entrepreneurs, The Best Small Business Government Grants in 2023. The economics of secondhand retail trade: an analysis of the market for ukay-ukay Authors: Luisito Cagandahan Abueg University of the Philippines Los Baos 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. Also, each point listed within the categories is not prioritized the same. For example, a hedge fund may have developed a proprietary trading strategy that returns market-beating results. How much is the weekly income of an ukay-ukay business? Alleco (http://bulatlat.com/main/2011/04/18/the-economics-of-ukay-ukay/). Consumer confidence in RP down. BUS_RESEARCH To inform people also about its disadvantages. ", Panmore. Though the thesis was written in 2005, what he wrote remains valid: The textile and garments industry still needs adequate provisions for the training of as well as incentives for workers, technological efficiency, development in market production, and creation of regulating bodies, he said. For the poor, thrift shops have been the most practical place to shop for clothes because of its low prices. A SWOT analysis can be due to the corruption in the government. (Threat) How many competitors exist, and what is their market share? There is never a dull moment when it comes to managing your ukay-ukay store. 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. A SWOT accomplishes this in four straightforward steps that even rookie business owners can understand and embrace.. The DSWD apparently discovered that the NGO was only a face for a smuggler of secondhand clothes, which were then sold in Baguio. The respondents will be chosen at random, both male and female. Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU. With the transformation of secondhand clothing and garments retail and trade into what it is today, the government is now moving to Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. If anything, the issue brought to light an often understudied culture of shopping in an ukay-ukay. The lack of knowledge about the Ukay-Ukay. Some source interviews were conducted for a previous version of this article. No one has been a mediator before or been through any formal mediation training programs. Aside from the physical strain, managing an ukay-ukay business also needs ample time. (Threat) Are there new regulations that potentially could harm our operations or products. The organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and instead focusing on real-life contexts. Most of them had a weekly income that ranges from 2000-6000 pesos. 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. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. His SWOT matrix included the following: Construction law firm with staff members who are trained in both law and professional engineering/general contracting. We also reference original research from other reputable publishers where appropriate. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. As the goods piled up, business-minded people decided to buy them at a very low cost and sell them to the public. Bibliography can be find at the last page of a book and can be used as references of a researcher. 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. WebAn ukay-ukay (Tagalog pronunciation: [uka.uka] oo-ky-OO-ky), or wagwagan (Tagalog pronunciation: [wgwagn] wag-WA-gan) in some areas, is a Philippine store These goods are actually transported to different stores in Baguio City as well as places in Metro Manila via balikbayan boxes. One is their low prices when compared to substitute and complementary goods. engages in property development. A SWOT analysis focuses on the four elements of the acronym, allowing companies to identify the forces influencing a strategy, action or initiative. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The presence of such business activity in the city gained attention from the different sectors ukay-ukay entrepreneurs, consumers, franchised clothing traders and government. Risk analysis is the process of assessing the likelihood of an adverse event occurring within the corporate, government, or environmental sector. Out of 20 respondents (costumers), 13 are female corresponding to 65% and 7 are male corresponding to 35%. We also use third-party cookies that help us analyze and understand how you use this website. In conjunction with other planning techniques, the company used the SWOT analysis to leverage its strengths and external opportunities to eliminate threats and strengthen areas where it is weak. You can get a custom paper by one of our expert writers. 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. Their experience gives a unique advantage. Generally, this study found that Filipino Gen Z consumers perceived values of second-hand clothing significantly influence their attitudes towards participating in a circular economy, and illustrated in specific categories how and to what degree. Meron din sa Sta Lucia Mall, Cainta. First, it has a different marketing and sale process. 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. WebEspecially if you're into authentic leather bags & shoes. There is class A, B and C and their prices differ according to its class. We conclude the following based on our study: Buying or Selling Ukay-Ukay or UK is ILLEGAL. Ukay-ukay is not only fashion-forward but also an ideal shopping option for college students on a tight budget. After that, you still have to organize and pack them. 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. In order to buy pizzas, he is looking for a job that pays him a wage of $wper hour forLhours of labor. "SWOT Analysis: What It Is and When to Use It. Despite of the law, the Republic Act 4653, this law prohibits the selling of ukay-ukay. 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. If you can afford it, you can employ extra hands to help you. I look forward to working with you moving forward . The SWOT table is often laid out with the internal factors on the top row and the external factors on the bottom row. Hannah Moriah L. Tayzon, De La Salle University Integrated School (Manila). 2 talking about this. 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. This website uses cookies to improve your experience while you navigate through the website. Dont make the mistake of thinking about your business operations informally, in hopes that they will all come together on their own. It is recommended to first create a list of questions to answer for each element. the disadvantages of ukay-ukay. The primary objective of a SWOT analysis is to help organizations develop a full awareness of all the factors involved in making a business decision. Ukay-ukay is so popular since it is a cost-effective option for shopping on a budget. Human resource planning (HRP) is the continuous process of systematic planning to achieve optimum use of an organization's employees. With the spread of ukay-ukay stores, the practice of buying thrift items has become popular among Filipinos. In the 90s, an NGO received an unusually large volume of garments as donations that were supposedly for the poor. However, it also noted weaknesses and threats such as foreign currency fluctuations, growing public interest in "healthy" beverages, and competition from healthy beverage providers. Billy Bauer, owner of ROYCE New York, noted that pairing external threats with internal weaknesses can highlight the most serious issues a company faces. 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. To inform people about the advantages of Ukay-Ukay. Data- factual information as measurements or statistics used as a basis for reasoning. Other common threats include things like rising costs for materials, increasing competition, tight labor supply. The ukay shopping phenomena all started in Baguio. The fashion retail industry heavily relies on an unsustainable business model of maximizing production, fueling the throwaway culture, regardless of environmental costs. FAQ | This is actually the area of strategy development where organizations have an opportunity to be most creative and where innovative ideas can emerge, but only if the analysis has been appropriately prepared in the first place, said Pophal. > WebUkay-ukay is a very affordable source of fashionable yet durable clothes for those with fairly small incomes. This cookie is set by GDPR Cookie Consent plugin. The task of initially cleaning or washing your goods is already tiring itself. Whether these factors are connected directly or indirectly to opportunities (O) or threats (T), it is important to note and document each one. Here in Tacloban, mostly, the ukay-ukay stores get their stocks from Cebu City. Those from the United States came from neighborhood home garage sales (de Castro 2001). 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. Course Hero is not sponsored or endorsed by any college or university. The researchers will use questionnaire and personal interview. Creating a SWOT analysis involves identifying and analyzing the strengths, weaknesses, opportunities, and threats of a company. Ukay Serye Clothing line is made from renewable fabrics that are transformed into, fashionable, eco-friendly pieces that any costumer would love to have. The research instrument to be used in gathering primary data is the questionnaire. 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. 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 Potential questions to list external factors are: Companies may consider performing this step as a "white-boarding" or "sticky note" session. We recommend the following based on our research: Ukay-Ukay Shopping Buiseness. 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. The idea is there is no right or wrong answer; all participants should be encouraged to share whatever thoughts they have. The information in the research may only be limited to the extent of information being reviewed and cited by the researchers. Necessary cookies are absolutely essential for the website to function properly. The specific objectives are: to describe the consumers' market behavior toward the presence ofukay-ukay and to identify the factors that influence individuals whopatronize these goods; Reports state that ukay businesses generate 1.2 million daily. where it has been typically called wagwagan. However, increased material costs, strained distribution lines, the need for additional staff, and unpredictable product demand may outweigh the strengths and opportunities.