Impact of Covid-19 on the retail industry. A case study on Marks and Spencer

The pandemic has significantly altered traditional wisdom and created new circumstances that have a significant impact on the retail industry. The report also identifies new trends in retail post Covid-19 pandemic. Overall, the research provides valuable insights into the impact of Covid-19 on the retail industry and the strategies that organizations can adopt to recover from the loss.

Business Research
Skills

Abstract
The outbreak of the Covid-19 pandemic has impacted the way in which groups as
well as corporations conduct their commercial enterprise sports. Organization chosen for this
research inspiration is Marks and Spencer, which is a leading retailer of garb as well as
household merchandise. The business enterprise was based in the year 1884 by Michael
Marks and Thomas Spencer and is situated in London, United Kingdom. The respective
research proposal will give an explanation for the impact of Covid -19 pandemic at the
overall performance as well as commercial enterprise operations of the chosen company.
Apart from this, the record will even provide an explanation for the specific strategies that the
businesses inside the retail zone can put into effect to be able to carry out their features in a
right way.

Contents
Abstract................................................................................................................................................2
Title – Impact of Covid-19 on the retail industry. A case study on Marks and Spencer................4
INTRODUCTION...............................................................................................................................4
Background..........................................................................................................................................4
2.1 Purpose........................................................................................................................................4
2.2 Aim and Objectives.....................................................................................................................4
Literature Review................................................................................................................................5
Methodology........................................................................................................................................5
Data Collection....................................................................................................................................5
Analysis................................................................................................................................................5
Ethical Considerations........................................................................................................................5
Research Impact and Value................................................................................................................6
REFERENCES....................................................................................................................................7
Appendix..............................................................................................................................................8

Title – Impact of Covid-19 on the retail industry. A case study on Marks
and Spencer.
1. INTRODUCTION
The retail industry is one of the important industries that can significantly contribute
to the overall development of country. The retail industry includes various activities such as
selling, buying, distribution etc. There are a lot of businesses as well as organizations that
operate within the retail industry (Bement and D'Souza, 2021). The outbreak of the Covid-19
pandemic has impacted the way in which businesses as well as companies conduct their
business activities. Organization chosen for this research proposal is Marks and Spencer,
which is a leading retailer of clothing as well as household products. The company was
founded in the year 1884 by Michael Marks and Thomas Spencer and is headquartered in
London, United Kingdom. The respective research proposal will explain the impact of Covid
-19 pandemic on the performance as well as business operations of the chosen company.
Apart from this, the report will also explain the different strategies that the companies within
the retail sector can implement in order to carry out their functions in a proper manner.
2. Background
This section of the research will define the purpose of carrying out the research as
well as the research aim and objectives.
2.1 Purpose
The overall purpose of undertaking this research project is to enhance the overall
knowledge about the impact of the Covid-19 pandemic on the retail industry as well as the
different organizations operating within the same such as Marks and Spencer. Also, it can be
said that the topic is worthwhile because there are not a lot of information available on the
same.
2.2 Aim and Objectives
Aim
“To analyse the impact of Covid-19 on the retail industry. A case study on Marks and
Spencer.”
Objectives

 To analyse the impact of Covid-19 on the retail industry.
 To determine the different strategies adopted by the retail organizations in order to
recover from the loss of Covid-19.
 To identify the new trends in retail post Covid-19 pandemic.
2.3 Research Questions
 What is the impact of Covid-19 on the retail industry?
 What are the different strategies adopted by the retail organizations in order to recover
from the loss of Covid-19?
 What are the new trends in retail post Covid-19 pandemic?
3. Literature Review
3.1 Impact of Covid-19 on the retail industry
The changes within the outside environment surrounding the retail enterprise
significantly altered traditional wisdom and simply would possibly create a new structure and
circumstances, with a purpose to have a huge range of affects on politics, economy, and our
lifestyles, inclusive of the digital technology that help them (Ciampi and et.al., 2021). After
the Japanese authorities announced a kingdom of emergency, vital retail commercial
enterprise which deal with meals and daily necessities received a enterprise continuity request
from the government, but many other kinds of retail enterprise have been pressured to shut.
The effects on the economy were tough enough that some say it will take approximately
years to get better. The retail enterprise, specially, has been severely affected for the reason
that government asked humans to quarantine themselves, which substantially constrained
face-to-face service in shops.
By comparison, the COVID-19 recession turned into brought about by way of a
unexpected shutdown of consumer activity. People simply stopped eating out, travelling, and
leaving the home. Roughly forty million people have been furloughed or laid off as demand
shut off and factories and offices had been idled to prevent the spread of the virus. Some
sectors, inclusive of fitness care—which had tested surely proof against recessions in the
beyond—have reduced in size as humans have canceled medical doctor’s appointments and
suspended plans for optionally available hospital treatment (Francis, Ochieng and Norman,
2021). Even customers with jobs have stopped spending. Retail sales plunged 20 percent
from February to April, with very large declines in classes like garb and accent stores and
branch shops. That’s likely the result of households with employed contributors slicing

returned on spending because there wasn’t anything to invest in and due to the fact many
families had excellent cause to desire to boom their financial savings in an uncertain time
growing saving rates are normal at the start of recessions.
3.2 Different strategies adopted by the retail organizations in order to recover from the loss of
Covid-19
All shops are revisiting their business continuity plans to reassure clients and co-
workers, manage the inevitable supply chain constraints and demand shocks, by using
prioritising vital business sports and growing contingency plans for disruption (Johnson,
Albizri and Jain, 2020). This is well underway however may be insufficient if the situation
maintains to increase on the pace of new weeks. Retailers need to plan and build a flexible
and nimble crisis control capability now, now not when it turns into a need. After the
preliminary set of moves that business continuity plans prescribe, control need to steer their
reaction based on the actual situation they face, if a business want to evolve each day. The
task is to adapt to ever converting instances, in which the proper decisions on shop
operations, colleague control, logistics and pricing will vary day-to-day. Existing reporting
frameworks, control information gear and annual or quarterly making plans strategies are not
going to be enough to offer the necessary visibility, command and manipulate.
Most corporations proper now are only inside the early stages of their reaction:
managing the on-the-spot issues for his or her own body of workers, saying journey bans,
cancelling massive-scale activities, and imposing quarantine durations (Klus and Müller,
2020). This is vital but only scratches the surface of wherein outlets need to head. As
shortages begin to seem, shops will need to apprehend which products are maximum at
hazard and proactively control their pricing, promotions and logistics to make certain
availability of supply for as long as possible. Retailers are evidently doing this already, given
their logistics information. For many gamers, this is commercial enterprise as ordinary.
3.3 New trends in retail post Covid-19 pandemic
As markets are slowly reopening, customers will in all likelihood go back to retail stores with
appreciably higher expectancies of an in-store experience. This revel in will in large part be
pushed by means of the extent to which the retail shops thoughtfully combine technologies
which includes POS counters, interactive cellular technologies, digitized product
presentations, real-time stock information, customer loyalty control and in-shop design.
Picking the precise digitization factors could be vital closer to handing over a immersive and

beneficial consumer enjoy. The COVID-19 disaster has extended the transition to a digital
future. Customer expectations and options have undergone a dramatic transformation in the
course of this pandemic. Besides ease of product discovery and assortment, customers now
decide upon touchless shopping for procedure. Mobile enter, collaboration, self-service, and
platform-based answers permit them to streamline enterprise strategies and reply quicker to
customer needs. They frequently dramatically pare the quantity of paperwork that ought to be
filled out, which improves productivity (Lansdell, Marx and Mohammadali-Haji, 2020). They
reduce the time wished to test facts and decrease the number of errors, so they come extra
green. They provide consumers extra options and improve consumer pleasure.
4. Methodology
Methodology is an important aspect od research and helps the readers by providing
them an outline of the different methods as well as approaches that have been used in the
study.
4.1 Approach
Research strategies are plans and the procedures for research. That span the steps
from vast assumptions to special techniques of records series, analysis, and interpretation.
Qualitative information requires an inductive technique to evaluation. However, there ought
to be some consistency between strategies, technique, and evaluation. This is essential so one
can reveal good judgment. Thus, with a purpose to make the research credible to the reader,
the studies must result in the research findings (Varela, 2020). For this research, the
researcher has used deductive research approach because it will allow the researcher to
complete the research in an effective manner.
4.2 Philosophy
A research philosophy is a perception about the way in which records about a
phenomenon should be accumulated, analysed and used. The term epistemology instead of
doxology encompasses the numerous philosophies of studies technique. Philosophical
perspectives are important because, whilst made specific, they display the assumptions that
researchers are making about their studies, leading to choices that are carried out to the
reason, layout, methodology and strategies of the studies, as well as to facts analysis and
interpretation.

4.3 Strategy
A studies method refers back to the step-by using-step plan of action that offers route
to the researcher's idea method. The most important reason is to introduce the primary
additives of the look at consisting of studies topic, areas, most important cognizance, studies
layout and eventually the studies techniques. Research approach facilitates a researcher pick
the right records series and the evaluation procedure. Thus, it is of maximum importance to
pick the proper strategy whilst conducting the research. It provides insights into the research
problem and consequently helps in accomplishing the research targets. A Research Strategy
is a step-by using-step plan of action that offers course in your mind and efforts, allowing you
to behavior studies systematically and on schedule to supply first-class effects and special
reporting. This approach is generally used whilst to apprehend the underlying reasons or the
opinion of the humans on certain records or a problem. It does not contain numerical records.
It presents insights into the research trouble and therefore allows in attaining the research
objectives. Various techniques that may be used encompass interviews, observations, open-
ended surveys and attention group discussions.
4.4 Design
Research layout is the framework of studies methods and strategies chosen by means
of a researcher. The layout lets in researchers to hone in on research techniques that are
suitable for the concern remember and installation their research up for achievement. The
design of a studies topic explains the form of studies and additionally its sub-type. There are
three foremost forms of designs for studies: Data collection, size, and evaluation (Weber, Lee
and Crawford, 2020). The kind of research trouble an employer is going through will
determine the studies design and now not vice-versa. The design section of a observe
determines which gear to apply and how they are used. An impactful research generally
creates a minimum bias in information and increases consider in the accuracy of amassed
records. A layout that produces the least margin of errors in experimental studies is
commonly taken into consideration the desired outcome.
4.5 Sampling and Access
Probability sampling is a sampling approach in which a researcher sets an expansion
of a few standards and chooses contributors of a population randomly. All the members have
an same possibility to be a part of the sample with this option parameter. In non-possibility
sampling, the researcher chooses participants for studies at random. This sampling approach
isn't always a hard and fast or predefined choice procedure. This makes it tough for all factors

of a population to have same opportunities to be protected in a sample. Probability sampling
is a sampling approach wherein researchers select samples from a bigger populace the use of
a way based totally at the idea of probability. This sampling technique considers every
member of the population and forms samples primarily based on a fixed system.
5. Data Collection
One of the best probability sampling techniques that helps in saving time and resources, is
the Simple Random Sampling method. It is a reliable method of obtaining information where
every single member of a population is chosen randomly, merely by chance. Each individual
has the same probability of being chosen to be a part of a sample. Data collection is defined
because the procedure of accumulating, measuring and studying accurate insights for research
the usage of fashionable validated techniques. A researcher can compare their speculation on
the premise of amassed statistics (Weber, Lee and Crawford, 2020). In most instances,
statistics series is the number one and maximum critical step for studies, no matter the sector
of research. The technique of data collection is exceptional for specific fields of examine,
relying on the specified information. Collecting records permits you to save and analyze
critical records approximately your existing and capacity customers. Collecting this records
can also store your organization cash by constructing a database of customers for future
marketing and retargeting efforts. A pilot take a look at involves initial facts collection, the
usage of your deliberate techniques, however with a completely small pattern. It goals to
check out your method, and discover any information that need to be addressed earlier than
the principle information series goes ahead.
6. Analysis
More than one year after the outbreak of the relatively infectious virus referred to as
the coronavirus, or COVID-19, many countries are gradually lifting the restrict measures
which imposed closures to non-necessity shops, bars, and venues, in addition to a ban on big
public gatherings. As such, the retail industry faces giant shifts: the amount of increase in
retail sales had already dropped among 2019 and 2020, even before the outbreak of the virus,
which is sure to have similarly ramifications. Certain sectors have witnessed growth, with
and large increases in income of patron items recorded in closely affected international
locations, the United Kingdom. This growth is in part due to the fact grocery shops have
remained open and purchasers seem like stocking up on positive items and substances.

For numerous years now, some shops have been putting as an awful lot if not extra
priority on the in-store enjoy than on the goods they promote. As a result of Covid-19, all
retailers will must make their in-keep reviews even more super for individuals who can visit
in person. They must provide human beings a purpose to visit that is so compelling, it
justifies their publicity to fitness risks and overcomes the inertia of the behaviors they
adopted at some point of the shutdown.
7. Ethical Considerations
Voluntary participation of respondents within the research is important. Moreover,
contributors have rights to withdraw from the take a look at at any level in the event that they
wish to achieve this. Respondents need to participate on the premise of knowledgeable
consent. The precept of knowledgeable consent involves researchers providing enough
information and assurances approximately taking element to permit individuals to recognize
the results of participation and to reach a completely knowledgeable, considered and freely
given selection about whether or not or not to do so, with out the workout of any stress or
coercion. Maintenance of the highest degree of objectivity in discussions and analyses all
through the studies. The studies layout need to address specific research questions. Hence, the
conclusions of the examine should correlate to the questions posed and the outcomes. Also,
studies ethics needs that the strategies used have to relate in particular to the studies
questions.
8. Research Impact and Value
The integrity of studies is based on adherence to middle values—objectivity, honesty,
openness, equity, responsibility, and stewardship. These center values help to make sure that
the research enterprise advances understanding. Research that develops our important
wondering abilties, offers us information and learnings and also offer us an data that we can
observe or use in our day by day lifestyles. Research is look for facts and know-how.
Research is certainly vital as it exhibits truth and unreality.

REFERENCES
Books & Journals
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