Trends in Retail Industry: Analysis of Wilko Retail Ltd

Inquiry Project

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
The trends in retail industry........................................................................................................1
Analysis of Wilko Retail Ltd......................................................................................................2
Recommendations.......................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Retail industry is undertaken as the market area in which business owners and
organisations take their decisions in terms of purchasing and selling various products and
services in terms of reaching towards the customers. In other words, retail sector tends to bridge
gap among the suppliers and buyers and their objective is to hold their operations within the
retail sector and also keep customers satisfied regarding their needs and preferences (Seyfang
and Gilbert-Squires, 2019). This report is based on Wilko Ltd. Which is a British high street
chain and founded by James Kemsey Wilkinson in 1930 and headquartered in England, UK.
Company deals in groceries, basic products, toiletries and so on. The report tends to conduct the
detail secondary research for collecting knowledge regarding the trends for retail sector and also
examine the organisational external environment. Lastly, when effective analysis is done then
suitable recommendations is provided for changing the further practices and aligning with the
trends.
MAIN BODY
The trends in retail industry
The economy at the global level is suffering because of current pandemic and occurred
unhealthy situation which slowly harm the whole economy and affect it inevitably. For this,
world is entering into an unpredictable situation of recession that has long term impact and
negatively influence various industries across the world. Due to this disease named COVID-19,
UK is majorly impacted and the whole country and world in under the situation of Lockdown.
For this, people have strict instructions to stay at their homes, industries and manufacturing get
stop and also not allowed to leave their places in terms of being safe.
Hence, these measures are taken for the safety and security of people and well being of
population but due to this, the whole economy and industries gets negatively influenced
(Hemphill and Longstreet, 2016). For this, the trends in retail industry in which Wilko operates
gets changes undertaking the norms and standards as fluctuations takes place within the society
by bringing uncertain changes that tends to impact the retail sector. As some of these trends in
which industry gets flourish are going to run in next few years which are as follows: Brands and products: Undertaking the recent years, customers face major issues in terms
of the availability of products. By undertaking the current situation the degree of
1