IDEAS home Printed from https://ideas.repec.org/a/gam/jecomi/v8y2020i4p95-d438817.html

Competitive Factors of Fashion Retail Sector with Special Focus on SMEs

Author

Listed:
  • Gyorgy Gonda

    (Doctoral School of Management and Business Administration, Szent Istvan University, 2100 Gödöllő, Hungary)

  • Eva Gorgenyi-Hegyes

    (Doctoral School of Management and Business Administration, Szent Istvan University, 2100 Gödöllő, Hungary)

  • Robert Jeyakumar Nathan

    (Faculty of Business, Multimedia University, Melaka 75450, Malaysia)

  • Maria Fekete-Farkas

    (Faculty of Economics and Social Sciences, Szent Istvan University, 2100 Gödöllő, Hungary)

Abstract

Nowadays small and medium sized enterprises have become increasingly important in contribution to job creation and economic growth both in national and European level. Considering the rapidly and continuously changing business environment, due to the impacts of globalization and concentration, staying competitive is a great challenge for companies in the 21st century, especially in fashion retail sector. The current paper is intended to map the current situation of the sector—focusing primarily on SMEs—through the extensive literature review; and provide a better understanding of sector-specific competitive factors in fashion industry. The research methods are the analysis of different related articles, reports and other scientific literature sources, in-depth interviews and questionnaire survey. The survey was validated by confirmatory factor analysis, data were analyzed and evaluated through PLS-SEM model. The main findings of the study show that the most important competitive factor is the compliance with consumer needs. Furthermore, the research also points out that SME sector lag behind chains, thus, they need to focus more on better understanding and meeting consumer expectations. In this activity, it would be useful if they received EU and domestic support for educational assistance.

Suggested Citation

  • Gyorgy Gonda & Eva Gorgenyi-Hegyes & Robert Jeyakumar Nathan & Maria Fekete-Farkas, 2020. "Competitive Factors of Fashion Retail Sector with Special Focus on SMEs," Economies, MDPI, vol. 8(4), pages 1-18, November.
    • Handle: RePEc:gam:jecomi:v:8:y:2020:i:4:p:95-:d:438817
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7099/8/4/95/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7099/8/4/95/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Robert Jeyakumar Nathan & Vijay Victor & Chin Lay Gan & Sebastian Kot, 2019. "Electronic commerce for home-based businesses in emerging and developed economy," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 9(4), pages 463-483, December.
    2. Miklós Pakurár & Hossam Haddad & János Nagy & József Popp & Judit Oláh, 2019. "The Service Quality Dimensions that Affect Customer Satisfaction in the Jordanian Banking Sector," Sustainability, MDPI, vol. 11(4), pages 1-24, February.
    3. Jim Lee, 2009. "Does Size Matter in Firm Performance? Evidence from US Public Firms," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 16(2), pages 189-203.
    4. Brueckner, Jan K, 1993. "Inter-store Externalities and Space Allocation in Shopping Centers," The Journal of Real Estate Finance and Economics, Springer, vol. 7(1), pages 5-16, July.
    5. Murat Ocak & Derya Fındık, 2019. "The Impact of Intangible Assets and Sub-Components of Intangible Assets on Sustainable Growth and Firm Value: Evidence from Turkish Listed Firms," Sustainability, MDPI, vol. 11(19), pages 1-23, September.
    6. Huang Ning Lee & An Sheng Lee & Yo Wen Liang, 2019. "An Empirical Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value and Customer Loyalty Using Structural Equation Modeling," Sustainability, MDPI, vol. 11(7), pages 1-11, April.
    7. Rajagopal, 2010. "Consumer Culture and Purchase Intentions towards Fashion Apparel," Marketing Working Papers 2010-01-MKT, Tecnológico de Monterrey, Campus Ciudad de México.
    8. Whittington, Geoffrey, 1980. "The Profitability and Size of United Kingdom Companies, 1960-74," Journal of Industrial Economics, Wiley Blackwell, vol. 28(4), pages 335-352, June.
    9. Patrizia Gazzola & Enrica Pavione & Roberta Pezzetti & Daniele Grechi, 2020. "Trends in the Fashion Industry. The Perception of Sustainability and Circular Economy: A Gender/Generation Quantitative Approach," Sustainability, MDPI, vol. 12(7), pages 1-19, April.
    10. Noor Ul Hadi & Nadia Aslam & Amir Gulzar, 2019. "Sustainable Service Quality and Customer Loyalty: The Role of Customer Satisfaction and Switching Costs in the Pakistan Cellphone Industry," Sustainability, MDPI, vol. 11(8), pages 1-17, April.
    11. Robert Jeyakumar Nathan & Vijay Victor & Melanie Tan & Maria Fekete-Farkas, 2020. "Tourists’ use of Airbnb app for visiting a historical city," Information Technology & Tourism, Springer, vol. 22(2), pages 217-242, June.
    12. Bylon ABeeku Bamfo & Courage Simon Kofi Dogbe & Harry Mingle, 2018. "Abusive customer behaviour and frontline employee turnover intentions in the banking industry: The mediating role of employee satisfaction," Cogent Business & Management, Taylor & Francis Journals, vol. 5(1), pages 1522753-152, January.
    13. Henry Kaiser, 1974. "An index of factorial simplicity," Psychometrika, Springer;The Psychometric Society, vol. 39(1), pages 31-36, March.
    14. Yu Lim Lee & Minji Jung & Robert Jeyakumar Nathan & Jae-Eun Chung, 2020. "Cross-National Study on the Perception of the Korean Wave and Cultural Hybridity in Indonesia and Malaysia Using Discourse on Social Media," Sustainability, MDPI, vol. 12(15), pages 1-33, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Judit Oláh & Yusmar Ardhi Hidayat & Zdzisława Dacko-Pikiewicz & Morshadul Hasan & József Popp, 2021. "Inter-Organizational Trust on Financial Performance: Proposing Innovation as a Mediating Variable to Sustain in a Disruptive Era," Sustainability, MDPI, vol. 13(17), pages 1-18, September.
    2. Lee, Jaeha & Park, Kwangsoo, 2024. "The effects of hedonic shopping values on loyalty towards small retailers: The moderating role of trust," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).
    3. Chi H. P. Ho & Kiet T. Nguyen & Duc C. Trinh, 2024. "Business practices of trade and service firms: Evidence from Vietnam," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2037-2061, March.
    4. Yunia Dwie Nurcahyanie & Moses Laksono Singgih & Dyah Santhi Dewi, 2022. "Implementing Online Product Reviews and Muslim Fashion Innovation for Resilience during the New Normal in Indonesia," Sustainability, MDPI, vol. 14(4), pages 1-20, February.
    5. Eva Gorgenyi-Hegyes & Robert Jeyakumar Nathan & Maria Fekete-Farkas, 2021. "Workplace Health Promotion, Employee Wellbeing and Loyalty during Covid-19 Pandemic—Large Scale Empirical Evidence from Hungary," Economies, MDPI, vol. 9(2), pages 1-22, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ajay Thapa, 2015. "Determinants of microenterprise performance in Nepal," Small Business Economics, Springer, vol. 45(3), pages 581-594, October.
    2. S. Ananda & Raghavendra Prasanna Kumar & Dharmendra Singh, 2023. "A mediation analysis of perceived service quality, customer satisfaction and customer engagement in the banking sector," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(3), pages 570-584, September.
    3. Močnik Dijana & Širec Karin, 2015. "Determinants Of A Fast-Growing Firm’s Profits: Empirical Evidence For Slovenia," Scientific Annals of Economics and Business, Sciendo, vol. 62(1), pages 37-54, April.
    4. Rizwan Raheem Ahmed & Dalia Streimikiene & Gerhard Berchtold & Jolita Vveinhardt & Zahid Ali Channar & Riaz Hussain Soomro, 2019. "Effectiveness of Online Digital Media Advertising as A Strategic Tool for Building Brand Sustainability: Evidence from FMCGs and Services Sectors of Pakistan," Sustainability, MDPI, vol. 11(12), pages 1-40, June.
    5. Clement Olalekan Olaniyi & Olayemi O. Simon-Oke & Olufemi Bodunde Obembe & Segun Thompson Bolarinwa, 2017. "Re-examining Firm Size-profitability Nexus: Empirical Evidence from Non-financial Listed Firms in Nigeria," Global Business Review, International Management Institute, vol. 18(3), pages 543-558, June.
    6. Cristina Gaio & Rita Henriques, 2018. "Are Large Firms More Profitable Than Small And Medium Firms In The European Union?," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 23(1), pages 25-48.
    7. Baiju Pallayil & Sunil Kumar Ambrammal, 2022. "Size and performance of Indian manufacturing firms: new evidence from dynamic panel system GMM approach," SN Business & Economics, Springer, vol. 2(12), pages 1-22, December.
    8. Maria Elena Aramendia-Muneta & Andrea Ollo-López & Katrin Simón-Elorz, 2022. "Circular Fashion: Cluster Analysis to Define Advertising Strategies," Sustainability, MDPI, vol. 14(20), pages 1-19, October.
    9. Hyunah Chung & Wei Quan & Bonhak Koo & Antonio Ariza-Montes & Alejandro Vega-Muñoz & Gabriele Giorgi & Heesup Han, 2021. "A Threat of Customer Incivility and Job Stress to Hotel Employee Retention: Do Supervisor and Co-Worker Supports Reduce Turnover Rates?," IJERPH, MDPI, vol. 18(12), pages 1-18, June.
    10. Zhao, Di & Wang, Hongyu & Kou, Xianliu, 2025. "Measuring true bootlegging: Conceptualization, scale development and validation," Journal of Business Research, Elsevier, vol. 196(C).
    11. Veasna Trakem & Hongzhong Fan & Dyna Sam & Sokhan Chen, 2026. "How do agricultural trade liberalization, climate variability and change, and governance quality influence food security in ASEAN?," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 18(2), pages 495-540, April.
    12. Lillemo, Shuling Chen, 2014. "Measuring the effect of procrastination and environmental awareness on households' energy-saving behaviours: An empirical approach," Energy Policy, Elsevier, vol. 66(C), pages 249-256.
    13. Xiaoxu Dong & Huawei Zhao & Tiancai Li, 2022. "The Role of Live-Streaming E-Commerce on Consumers’ Purchasing Intention regarding Green Agricultural Products," Sustainability, MDPI, vol. 14(7), pages 1-13, April.
    14. Simplice A. Asongu, 2019. "FDI in Selected Developing Countries: Evidence from Bundling and Unbundling Governance," Working Papers 19/057, European Xtramile Centre of African Studies (EXCAS).
    15. Asongu Simplice, 2014. "Fresh Patterns of Liberalization, Bank Return and Return Uncertainty in Africa," Working Papers of the African Governance and Development Institute. 14/004, African Governance and Development Institute..
    16. Sarel Gronum & John Steen & Martie-Louise Verreynne, 2016. "Business model design and innovation: Unlocking the performance benefits of innovation," Australian Journal of Management, Australian School of Business, vol. 41(3), pages 585-605, August.
    17. Budi Setiawan & Marwa Ben Abdallah & Maria Fekete-Farkas & Robert Jeyakumar Nathan & Zoltan Zeman, 2021. "GARCH (1,1) Models and Analysis of Stock Market Turmoil during COVID-19 Outbreak in an Emerging and Developed Economy," JRFM, MDPI, vol. 14(12), pages 1-19, December.
    18. Gizem Uzun & Murat Tezer, 2019. "Student Perceptions on War Topics and War Anxiety in History Classes," Revista romaneasca pentru educatie multidimensionala - Journal for Multidimensional Education, Editura Lumen, Department of Economics, vol. 11(1), pages 256-271, March.
    19. Simplice A. Asongu & Nicholas M. Odhiambo, 2019. "Governance, capital flight and industrialisation in Africa," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 8(1), pages 1-22, December.
    20. Pamela E. Ofori & Simplice A. Asongu & Vanessa S. Tchamyou, 2021. "The Synergy between Governance and Economic Integration in Promoting Female Economic Inclusion in Sub-Saharan Africa," Working Papers 21/071, European Xtramile Centre of African Studies (EXCAS).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jecomi:v:8:y:2020:i:4:p:95-:d:438817. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager The email address of this maintainer does not seem to be valid anymore. Please ask MDPI Indexing Manager to update the entry or send us the correct address (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.