Analysis of Retail Industry Trends and Changes in the UK

Inquiry based learning

Table of Contents
INTRODUCTION...........................................................................................................................3
Methodology....................................................................................................................................5
Results and recommendation...........................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10
Books and Journals...................................................................................................................10

INTRODUCTION
This report is based on analysis of retail industry with its current trends and changes in
UK. It includes various relevant business models which helps in analysing situation in the sector
and company. Its objectives are to frame recommendations for continuous growth and success or
to provide alternatives for the survival of company in retail industry. It is assumed that if
conditions are favourable in retail industry it brings positive changes in company. In this report
trends in the retail industry and its impact is analysed on company. It is important to analyse
various trends and changes leading to impact on the performance of a company. Due to covid -19
and global economic recession, it leads to various changes and has impacted retail industry in
UK (Fernqvist and Göransson, 2020). The chosen company for analysing trends and its impacts
in retail industry is Tesco. In this report it has contributed in finding current changes in retail
industry and its impact on company. It is affected majorly due to changes in trade policy with the
occurrence of Brexit and global recession due to pandemic disease. The rest of the report is
organised as different sections initiating with literature review then methodology and results and
recommendations following with conclusion.
Literature Review
Retail industry is one of the growing private sectors in UK. It contributes largely in GDP
and economic growth of country. Retailing is the combination of various activities with
including core aspect of selling goods and services to final customer. Furthermore, it is consists
of other diverse activities such as buying, advertising, warehousing, transportation, data
processing and maintaining inventory etc. These include big and small companies as well as
private shops which deal in consumer durable and non durable products. The industry has been
facing various fluctuations due to slowdown of economy and occurrence of pandemic disease. It
has faced various macro level changes due to Brexit and trade wars between countries. These
major changes have impacted industry and overall economy of UK. Following key trends can be
observed in retail industry in 21st century.
 Sustainability from Brands- Retail industry and its trends is major subject in UK due to
its high contribution towards the economy. In modern times young consumers have
become more aware for sustainability of brands. This can be observed from customers
demanding transparency and environmental friendly products (Jin and Shin, 2020). This