Challenges and Issues in Retail Industry

Emotional and Cultural
Intelligence Strand

Table of Contents
INTRODUCTION...........................................................................................................................1
Specific number of challenges and issues related to the retail industry......................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
In technological era, there is continuous development and use if technology in different
types of industry. It has enabled in ease in doing complex business operations and increasing
efficiency of both organization and employees. Technology such as AI, IOT, robotics, etc are
used within every sector. (Springmann and Freund, 2018)
However, in recent times, there is rapid rise in retail industry. There are many new
business and companies expanding in this sector. It has resulted in its high growth and
development. As there is intense competition in retail industry it is essential for company to
sustain for long term. For that they need to attract more people. There is 324% increase in online
retail market in UK which is highest ever. The market value is 394 billion Euros. Also, with
change in trends and taste of consumers they are preferring to use retain products . So, more and
more business are focusing on it. This has resulted in rise in demand of retail products.
Alongside, it is evaluated in UK there will be vast number of opportunity for firms to operate in
this industry. Moreover, it is identified that digital marketing is been highly used by
organization. This has transformed way of promoting and advertising of products and services.
Here, various types of sources are used to advertise. Basically, social media, e mail, website, etc
are used for promotion. It allows companies to reach wide number of people from single
platform. There is great impact of social media on buying behavior of people. It has highly
influenced on sales and profits of business. Digital marketing has enabled in building strong
relations with customer and effective communication. The new product info is quickly displayed
on social sites.
Similarly, I would like to work in marketing field in retail industry. This is because there
is high scope of working in this field. Furthermore, it will be based in UK. It is found that there
are many employment opportunity in UK in but it is necessary to promote retail products so that
people are aware about it. For that it requires digital marketing. With help of it, products can be
marketed to wide number of people. Also, this profession is new and emerging so there are high
chances of building a successful career in it. I will learn new skills and knowledge of how to do
marketing and what tools and techniques are used in it (Patrutiu-Baltes, 2016).
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