Career Viewpoint in Retail Industry

Career viewpoint

Table of Contents
INTRODUCTION...........................................................................................................................3
ANALYSIS AND APPLICATION.................................................................................................3
EVALUATION................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1
APPENDIX-A..................................................................................................................................2

INTRODUCTION
There are various skills and knowledge required to pursue a career and skills varies from
profession and industry. The aim of this report is to conduct research of the industry in which I
want to create my career or my area of interest. So, based on my interest, knowledge and skills I
would like to start my career in the field of retail. This report includes complete research about
the changing trends in the industry, opportunities available, challenges and threats currently
facing and the skills or an experience required in that industry.
ANALYSIS AND APPLICATION
Industry Overview
The retail industry is all about how the producers of the product and services can sell
their products to the consumers through retailers (Smith, 2017). Retail is vital to every industry
ranging from electronics and machinery to food and fashion industry. Thus, working in any one
industry will help in grabbing skills and knowledge which can be utilized in other industries or
working in diversified sectors (Pantano and Timmermans, 2019). The retail industry is UK is
changing at the very high speed and which can pose as a threat as well as opportunities to the
businesses. This industry is the largest private employer with almost 3 million workers. It has
generated 381 billion worth of retail sales in the year 2018. Retail is a big industry and provides
employment in different areas such as customer services, online retail, retail management, visual
merchandising, warehousing distribution, merchandising and allocation etc. The major graduate
employers in UK are Amazon, Apple, Marks & Spencer, Tesco, Asda, BMW group, Morrison,
Sainsbury etc. Graduate entering the retail sector can expect the varied working environment
which includes retail branches and distribution warehouses (Hajy Alikhani and et.al, 2019). Also,
this industry pays highest to any graduate with an average of £30000. It also gives opportunity
of foreign travel as per the job role. It involves a lot of pressure as it is focused on increasing
sales and generating profits. Another benefit is the most of the company workers enjoy the
discounts.
The year 2019, has been the worst year because of slow rate of growth which was largely
driven by Brexit. The industry faced lot of uncertainty in respect of job loss of 85000 and 9169
store closures (Mogaji and Danbury, 2017). Even after this, there has been an increase in online
sales which is about 21% of total sales. Also, there has been a rise in activism among millennials