Current Trends in the Retail Industry

Current trends in the
retail industry

Contents
Introduction.................................................................................................................................................3
Main body...................................................................................................................................................3
Trends in Retail sector industry...............................................................................................................3
Analysis of company...............................................................................................................................4
VRIO analysis.........................................................................................................................................5
Recommendations...................................................................................................................................6
Conclusion...................................................................................................................................................7
References...................................................................................................................................................8

Introduction
Retail is the process of selling goods and services to the customers with the help of
multiple channels of distribution in order to earn profit. It is sector which help in satisfies the
demand and identify it in order to satisfy their customers. The retail sector industry place and
role of intermediate between the company and the customer. There are several trends which are
going in this industry to enhance the sale by satisfying the needs and wants of targeted customers
(Adivar, Hüseyinoğlu and Christopher, 2019). There are several trends such as new techniques of
promoting the products in the market, online platforms for shopping, ethical and values of brand
and many more. This report talks about the current trends in the retail sector industry. The
SWOT analysis and VIRO analysis to analyze the choose an organisation that is Tesco. Lastly,
the recommendations are mentioned which helps the company to attain their goals.
Main body
Trends in Retail sector industry
Retail Industry is the sector that comprises individual and the companies which is
engaged in selling of finished products to the end user. It is the process of selling the products to
the ultimate consumers. Their name in is to determine and satisfy the needs and wants of
customers which helps them to enhance their profitability (Garcia-Barreda and et. al., 2018).
There are several trends in retail sector industry and the most trending Trend in the industry is
covid-19 trending shopping style. Due to coronavirus disease every industry is facing difficulties
in their operations which resulted in huge losses to companies. To overcome with the difficulties
the company used to develop the new strategies so that they can provide their services to satisfy
the needs of their customers in this pandemic situation. The retail sector industry invest in the
technology infrastructure and work towards improving their facilities. The company used to
develop touch Free shopping styles, digital modes of payments and other styles which accelerate
the industry in reducing the physical interaction with the customers and employees. The
changing scenario make more aware among the customers in their changing behaviour and
growing integration of online and offline stores. The company used to develop online stores so
that they can provide their services to the remoteness of area. Covid-19 changes the sentiments
of the customers and their lifestyle. The company has in fear to adopt the new technologies in the