Question: When discussing the economic attributes framework in relation to supply, we have to answer a few questions. First, are there many suppliers offering similar products,

When discussing the economic attributes framework in relation to supply, we have to answer a few questions. First, are there many suppliers offering similar products, or are there only a few suppliers offering unique products? In the specialty retailing apparel industry, most suppliers offer similar products, especially in terms of sourcing fabrics or basic clothing items which has caused the supply to increase and prices to decrease. Most raw materials such as cotton, polyester, and other fabrics, are widely available from a variety of suppliers, specifically in regions with lower production costs like Southeast Asia. Certain suppliers may offer unique products consisting of sustainable or organic fabrics, which are quickly becoming popular due to the growing demand for eco-friendly fashion.Next the barriers to enter the industry must be discussed, which in the case of the specialty retailing apparel industry are moderate. New entrants have relatively easy access to suppliers and manufacturing partners, especially in regions where the labor is cheap which makes it easier to set up the initial production. While it is easy to enter the market, the industry is highly competitive, with well established brands like Gap, Abercrombie & Fitch, and Limited Brands dominating.Lastly, we will speak on the barriers to exit which are relatively low. Overall the apparel industry does not have the same level of environmental or financial liabilities that would make exiting extremely expensive like in the case of mining companies or nuclear power plants. Brands that are facing declining profitability can easily either restructure, sell off assets, or file for bankruptcy without the extensive environmental or legal cleanup costs.

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