PESTEL ANALYSIS

The Three Key Potential Trends In External Business Environment Of Wetsuits

Abstract

Wetsuits are special type of cloths design for water wear, particularly considerable for the underwater sports. These suits are necessary for the divers and protect them from rough conditions. Many manufacturers have introduced new innovative apparels such as inflatable wetsuits, new technology and wetsuits that are environment friendly. The UK sports apparel industry is also under influence of these external market conditions.

People are always in search of new sports and activities. On the other side, increasing concerns of health and less time for physical activities prompt large number of people spending their time in sports recreational activities. Scuba diving is one of the famous sports around the world practice as professional as well as for recreational purpose. The trend of scuba and underwater diving has been increased with the improving with the changing demographics, availability of technological advance products and with increasing environmental concerns.

The purpose of the report is to identify key external environmental factors that are critical to identify and may affect the new business in future. These factors may be the governmental policies on apparel industry or the economic situation of the country. The PESTEL analysis tool is use for this purpose and the key findings show a flourishing future for the sportswear industry.

The economic recession in 2008-09, has reduced the purchasing power and there was less spending in recreational activities. The wetsuits are use for underwater sports particularly for scuba diving. The recent changes in the attitude of people of all ages towards healthy activities and organic lifestyle, water sports and scuba diving are in demand. At the same time, the London Olympics also increase the demand for swimwear. The water wear is a niche market and has tough competition among the competitors. This does not have much effect on the sports apparel industry compares to other industries.

Abstractii

Market Summary1

Product Description1

Competitors2

The three key potential trends in external business environment2

Social factors3

Technological factors4

Economical factor5

Conclusion6

Reference8

Appendices10

The Three Key Potential Trends In External Business Environment Of Wetsuits

Market Summary

The growing interest of people towards exploring nature's beauty and recreational activities, underwater diving is appealing people of all ages. The current value of the swimwear market is around £200 million for Great Britain (www.sports-insight.co.uk). The new emergent concept is aqua fitness is a key market for the manufactures, currently it covered less than 50 percent of total swim market. United Kingdom is a huge market for the sportswear manufacturers. The PESTEL analysis tool is use for this purpose and the key findings show a flourishing future for the sportswear industry.

Product Description

A university research group aims to start a new business of water sportswear. The team of researchers are working on wetsuits that are unique and made from lightweight and elastic fabric. The suits specifically designed by considering the weather of UK coasts to protect scuba divers from cold environment and keep them warm. The sports apparel industry is rapidly growing industry in United Kingdom. The consideration of these macro environmental factors presents outside the sportswear ...