FY028: Inquiry Based Learning Project Title of the project: “The

FY028: Inquiry Based Learning Project
Title of the project:
“The Current Trends in Retail Industry”
Background information:
In current situati on of ongoing spread of corona virus pandemic,
retail organisati ons are facing issues associated with decline in their
revenues. Banana Republic is one of the well-known clothing and
accessories retailer of America who off ers clothing products
worldwide. The company was established in 1978 and is
headquartered in California, United States. There are many issues
facing by retail industry currently, however several trends prevailing
in the retail industry which will help in overcoming the issues.
Reason for choosing a specific company:
In this project, the main reason behind choosing the company, Banana
Republic is that the company is currently facing issues due to spread of corona
virus pandemic and in order to overcome this, it is very necessary for the
company to undergo change and go with the current trends prevailing in the
market. This company is relevant to the project as it helps in analysing the
market trends effectively which in turn help company in continuing its growth
and success.
Aim of the project:
“To assess the issues facing by retail organisati on and determine
soluti ons to resolve them. A case study on Banana Republic.”
Research Question:
1. What are the issues that retail organisation is facing currently?
2. What are the key prevailing trends in retail industry that will shape the
organisation?

3. What can be the way or solution the resolve the issue that Banana
Republic is facing?
How the aim will be achieved?
The aim of the research will be achieving by doing an in-depth research
on the current trends prevailing in the retail industry and the analysis of
chosen organisation. This will help in providing appropriate recommendation
to the company which will assist it in gaining competitive advantage in market.
Reference List
5 Challenges Facing Retail in 2020, 2020. [Online]. Available through:
<https://sourcingjournal.com/denim/denim-retail/globaldata-retail-
challenges-2020-sustainability-saturation-187866/>
8 Innovati ve Retail Trends to Watch in 2021, 2020. [Online]. Available
through: <https://ti nuiti .com/blog/ecommerce/retail-trends-
emerging/>