These are then shipped to the Philippines, which are sold at less than half of the prices of the already cheap Salvation Army pieces. in it and least respondents (costumers) believe that the disadvantage of ukay-ukay corresponding to 1% is that some are not branded. Through this analysis, it identified that its strengths were good sourcing of ingredients, personalized customer service, and a strong relationship with suppliers. The cookie is used to store the user consent for the cookies in the category "Other. The tremendous growth of this business phenomenon is observed in Santiago City. Those who sold ukay-ukay decried that many will lose their jobs and main sources of income those who man the stores, who sort out the clothes, those who are into the transport of goods. Having the ability to make decisions may be both empowering and liberating. Ukay-ukay is a term used both for the act of shopping by digging up piles of used or pre-loved clothes until Andrew Brooks shows how new and second-hand clothes are traded across continents and traces the human and environmental impacts of production and consumption. Just like any other business, the success of an ukay-ukay business is Then, a company looks outward and evaluates external factors that impact its business. This study, in which catering business has been investigated develops a new assessment model to evaluate key success factors for micro-enterprise creation and operation. The researchers gathered their data through primary data (interviews and survey questionnaire) and secondary data (internet). Coffee is only sourced from Brazil and Ethiopia. WebUkay Serye Swot Analysis Strengths Environmental Friendly Ukay Serye Clothing line is made from renewable fabrics that are transformed into fashionable, eco-friendly The task of initially cleaning or washing your goods is already tiring itself. Bhd. control and vindicate the market activities of ukay-ukay. The first and foremost point to note is the controversial manner these Examples of internal factors include financial and human resources, tangible and intangible (brand name) assets, and operational efficiencies. Using this information, a company can make smarter decisions to preserve what it does well, capitalize on its strengths, mitigate risk regarding weaknesses, and plan for events that may adversely affect the company in the future. However, note that it is one of many techniques, not a prescription. Strictly speaking, gentrification is a term used by urban planners to refer to poor neighborhoods that have been renovated to cater to a more affluent market. We are the FIRST ever Ukay-Ukay Online Seller. CNN and the CNN logo are registered marks of Cable News Network, Inc., displayed with permission. Sometimes its wise to perform a general SWOT analysis to check on the current landscape of your business and improve operations as needed. There are various reasons consumers still buy these goods. You also have the option to opt-out of these cookies. Bibliography can be find at the last page of a book and can be used as references of a researcher. 24 Pros & Cons Of Starting An Ukay Ukay Store Business (2023) For example, a drought is a threat to a wheat-producing company, as it may destroy or reduce the crop yield. This cookie is set by GDPR Cookie Consent plugin. Gap analysis is the process that companies use to examine their current performance vs. their desired, expected performance. There is never a dull moment when it comes to managing your ukay-ukay store. The company was established on August 17, 2005. This study is designed primarily to know why people are really drawn to ukay-ukay and how it can be a great advantage for the people and what are This will assist you with getting your business up and running. Some would resort to buying ukay- ukay items because these are You must be prepared for losses and lean months. What occurs within the company serves as a great source of information for the strengths and weaknesses categories of the SWOT analysis. Threats refer to factors that have the potential to harm an organization. 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. The company's main field of business will be in Quezon City, with a target market of thrift clothing lovers in their 20s. Risk analysis is the process of assessing the likelihood of an adverse event occurring within the corporate, government, or environmental sector. The time in conducting this research may be limited for each member has a different time schedule and priorities. Porter's 5 Forces vs. SWOT Analysis: What's the Difference? A SWOT analysis is a compilation of your companys strengths, weaknesses, opportunities and threats. Most commercial construction contracts require mediation. In the 90s, an NGO received an unusually large volume of garments as donations that were supposedly for the poor. Strengths and weaknesses are listed first, followed by opportunities and threats. In the top-left square, you record 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. Based on the study, many people are drawn into ukay-ukay or others call it as UK. These cookies track visitors across websites and collect information to provide customized ads. and was subsequently adapted in other topographic points. > Meron din sa Sta Lucia Mall, Cainta. 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. The Economics of Ukay-Ukay - Bulatlat The researchers will use descriptive design which is a commonly used research method. Interview-a formal consultation usually to evaluate qualifications. However, increased material costs, strained distribution lines, the need for additional staff, and unpredictable product demand may outweigh the strengths and opportunities. 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 Definition and Examples, How to Start a Business: A Step-by-Step Guide, How to Write a Self-Assessment: 5 Tips to Improve Your Evaluation, The Best Employee Monitoring Software for 2023. That the costumers or ukay-ukay fanatics wont prefer buying ukay-ukay underwear because you might get reproductive diseases. The respondents of this research study are at least 20 customers and 20 sellers of ukay-ukay clothing. 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 will no longer need to pay for rent, making your overhead expenses lower than other businesses. 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. It is ukay-ukay right? EST. Max Freedman and Nicole Fallon contributed to this article. Start An Ukay Ukay Store Business Summary Startup Costs Pros & Cons Marketing Ideas Wondering how much it costs to start an ukay ukay store business? The respondents will be chosen at random, both male and female. Ukay Serye Swot Analysis.docx - Ukay Serye Swot 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. "SWOT Analysis: What It Is and When to Use It. secondhand clothing and garments goods were entered into the local market. 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. What once started as a charitable act has indeed become a multimillion-peso trade. Business News Daily. By clicking Check Writers Offers, you agree to our terms of service and privacy policy. Students looking for free, top-notch essay and term paper samples on various topics. 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. 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. SWOT analysis assesses internal and external factors, as well as current and future potential. 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 secondhand clothes, bags, hats, shoes and etc. Home Depot conducted a SWOT analysis, creating a balanced list of its internal advantages and disadvantages and external factors threatening its market position and growth strategy. You can also work in reverse witha segment-specific SWOT analysis that feeds into an overall SWOT analysis. Ukay-ukay shopping is like treasure hunting, but instead of looking for a treasure, you are literally digging from the piles of clothes which are mostly vintage and of high value. A case study of Central Chidlom and Siam Paragon. 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. His SWOT matrix included the following: Construction law firm with staff members who are trained in both law and professional engineering/general contracting. In a SWOT analysis, strengths and weaknesses cover your own resources and processes. The organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and instead focusing on real-life contexts. ukay WebUkay-ukay is a very affordable source of fashionable yet durable clothes for those with fairly small incomes. SWOT analysis is a technique for assessing the performance, competition, risk, and potential of a business, as well as part of a business such as a product line or division, an industry, or other entity. The cookie is used to store the user consent for the cookies in the category "Performance". The cookies is used to store the user consent for the cookies in the category "Necessary". For the poor, thrift shops have been the most practical place to shop for clothes because of its low prices. 2015 Nine Media Corp. CNN name, logo and all associated elements and 2015 Cable News Network. Silverio,Ina 3 Award-Winning Chocolatiers Sweet Journey To Success, Store Owner Doesnt Mind Losing Profit To Treat Students. Publisher Editor No. External influences, such as monetary policies, market changes, and access to suppliers, are categories to pull from to create a list of opportunities and weaknesses. Ukay stores sprouted like mushrooms which later became one of the must-visit places in Baguio. There is a lot of information available to you on the internet (Facebook groups, Youtube videos, etc). The market for secondhand goods grew vigorously across the world. 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. WebUkay-ukay is most normally used to mention to the industry that caters to the sale of secondhand imported garments. In addition, the items on the left side of the table are more positive/favorable aspects, while the items on the right are more concerning/negative elements. and so on. A SWOT (strengths, weaknesses, opportunities and threats) analysis is a planning process that helps your company overcome challenges and determine which new leads to pursue. A SWOT analysis can be broken into several steps with actionable items before and after analyzing the four components. is a company based in Malaysia, with its head office in Ampang. Webconcepts to evaluate the sustainability of Philippine ukay-ukay culture. Brand new clothes and ukay ukay a comparative analysis whole You can still dispose of items through giveaways or discounts. The researchers will conduct a research among the Ukay-Ukay stores in Tacloban City, Leyte. Course Hero is not sponsored or endorsed by any college or university. The Temptation of the Shopping Center: How to Avoid Distracted Shopping. International Journal of Entrepreneurship and Small Business. SWOT analysis: What it is and how to use it (with SWOT analysis was first used to analyze businesses. While the business owner should certainly be involved in creating a SWOT analysis, it is often helpful to include other team members in the process. 11 Pros and Cons of an Ukay-Ukay Business - Business First, a company assesses its internal capabilities and determines its strengths and weaknesses. We recommend the following based on our research: Ukay-Ukay Shopping Buiseness. This cookie is set by GDPR Cookie Consent plugin. Some staff may be more connected with external forces, while various staff within the manufacturing or sales departments may have a better grasp of what is going on internally. Give us your email address and well send this sample there. You give good ideas. Using research from around the globe, colourful stories and hard data demonstrate how the clothing, textile and recycling sectors have played a major part in making different regions of the world rich and poor. Most potential clients have a negative impression of mediation, because they feel mediators dont understand or care to understand the problem, and rush to resolve it. Besides evaluating the key success factors, the proposed model also suggests 10 success factors that represent a strong contribution to the literature by providing a valuable sub-pack for creating and operating a micro-enterprise. 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. Brand management is a marketing function that uses brand management techniques to increase the perceived value of a product line or brand over time. For the costumers viewpoint, what are their different perspective about the advantages and disadvantages of ukay-ukay? To run a successful business, you should regularly analyze your processes to ensure you are operating as efficiently as possible. SWOT analysis is a strategic planning technique that provides assessment tools. 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. No one has been a mediator before or been through any formal mediation training programs. Ukay-ukay - Wikipedia FAQ | 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. Once in the Philippines, these are then sold at prices lower than those of traditionally imported goods. Since he can only work a maximum of 15 hours a day. Silverio,Ina Alleco.The Economics of Ukay Ukay. Ukay They strongly believe that Philippines will be better if ukay-ukay will be legalized. Ukay-ukay stores sell dirt cheap apparel and fashion accessories from various parts of the globe. Anonymous. Resulting strategy: Take mediation courses to eliminate weaknesses and launch Scholefield Mediation, which uses name recognition with the law firm, and highlights that the firms construction and construction law experience makes it different. an academic expert within 3 minutes. Mary Darlene S. Concepcion, De La Salle University Integrated School (Manila) This study aims to let people understand all about the ukay-ukay industry specifically about its nature. In a study by Rina Locsin, where she zoomed into the culture of ukay-ukay in Baguio, she states that it is difficult to determine the exact date of when the ukay-ukay started in the country. By refining the thoughts that everyone had, a company can focus on only the best ideas or largest risks to the company. However, there's a number of benefits to a SWOT analysis that make strategic decision-making easier. This study is designed primarily to know the nature of Ukay-ukay industry particularly in Tacloban City. Some source interviews were conducted for a previous version of this article. A SWOT analysis can be broad, though more value will likely be generated if the analysis is pointed directly at an objective. Reports state that ukay businesses generate 1.2 million daily. But many people would love it if the government will abolish the law. Cabreza, V. 2001. A SWOT analysis is a great way to guide business-strategy meetings. With the spread of ukay-ukay stores, the practice of buying thrift items has become popular among Filipinos. The study focuses on a central neighbourhood of Athens (Akadimia Platonos) and takes into account the condition of a long and continuous economic crisis. Out of 20 respondents (costumers), 3 respondents corresponding to 15% were 15-20 years old, 9 respondents corresponding to 45% were 20-30 years old, 3 respondents corresponding to 15% were 30-40 years old, 2 respondents corresponding to 10% were 50-60 years old and 2 respondents corresponding to 10% were 60-70 years old. In addition to analyzing thing that a company does well, SWOT analysis takes a look at more detrimental, negative elements of a business. It is one of several business planning techniques to consider and should not be used alone. Where did the ukay-ukay owners get their stocks? 16. SWOT Analysis Guide (With Steps To Perform and Examples) 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) In sourcing your goods, you can either thrift them by yourself or buy them wholesale from suppliers. If you want a steady stream of income with a fast turnover, ukay-ukay business is perfect for you. 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. The six forces model is a strategic business tool that helps businesses evaluate the competitiveness and attractiveness of a market. Especially Pinoys who like cheap, trendy goods, ukay items are easy to sell. Unbelievable Ukay-Ukay Stores Where > 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. ", Seeking Alpha. 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. Well occasionally send you promo and account related email. The Economics of Secondhand Retail Trade: An Analysis of the Market for Ukay-ukay. A SWOT analysis is used to strategically identify areas of improvement or competitive advantages for a company. - Buy Rainbow Factory Ukay Bales Wholesale Second Hand Cotton Clothing Mixed Used Clothes Bundlepopular,Rainbow Factory Ukay Bales Wholesale Second Hand Cotton Clothing Mixed Used Clothes Bundlepopular,Rainbow Factory Uka , I look forward to working with you moving forward . The DSWD apparently discovered that the NGO was only a face for a smuggler of secondhand clothes, which were then sold in Baguio. 2022 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. Analysis Before you start, its better to learn the pros and cons of the business. the disadvantages of ukay-ukay. This entailed some implementation cost on the side of the government. Primary data are data that are collected to help solve a problem or take advantage of an opportunity on which a decision making is pending. Is this gentrification? Clothing Poverty uncovers how fast fashion retailers and charity shops are embroiled in commodity chains which perpetuate poverty. Make sure you are honest and efficient in dealing with your customers, so they can tell their friends about your store. (Weakness) What are our lowest-performing product lines? Its Applications and Uses in Business, Risk Analysis: Definition, Types, Limitations, and Examples, What Is Brand Management? The idea is there is no right or wrong answer; all participants should be encouraged to share whatever thoughts they have. This ukay-ukay place can be reached easily since it is accessible through the MRT or LRT 1 lines. The latest financial highlights indicate a net sales revenue drop of 17.12% in 2021. 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. It effected changes on the shopping practices, lifestyle of the masses, and supplemented the existence of the textile clothing industry. To get a better picture of a SWOT analysis, consider the example of a fictitious organic smoothie company. My Account | Philippine Journal of DevelopmentNumber 59, First Semester 2005, Volume The SWOT analysis is a simple but comprehensive strategy for identifying not only the weaknesses and threats of an action plan, but also the strengths and opportunities it makes possible. 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 Every questions was answered by the said respondents honestly. The profit comes quickly because it is computed on a per-sale basis. If you can afford it, you can employ extra hands to help you. Dont know where to start? The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Ukay Land Sdn Bhd Company Profile, Financial and Strategic Human resource planning (HRP) is the continuous process of systematic planning to achieve optimum use of an organization's employees. 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.