Impact of Latest Trends on Iceland Foods Ltd in Retail Industry

This report analyses the impact of latest trends on Iceland Foods Ltd in the retail industry. It includes a literature review, research methodology, findings and analysis, and recommendations to minimise negative impact. The report identifies the latest trends in the retail industry, their influence on business performance, and strategies used by Iceland Foods Ltd to overcome them.

Inquiry Project
( Business )

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Literature review.........................................................................................................................4
To recommend the strategy used by Iceland Foods Ltd to minimise negative impact of latest
trend on business performance. ..................................................................................................5
Research methodology................................................................................................................5
Findings and analysis..................................................................................................................7
CONCLUSION ...............................................................................................................................8
REFERNCES:................................................................................................................................10
Books and Journals:..................................................................................................................10

INTRODUCTION
The report aims to analyse the issues and impact of the latest trends prevailing in the
retail industry. An organisational environment is dynamic which change much often. These
frequent changes drives in customer needs, trends, employees motivation and internal facilities
and infrastructure of the business (Hvass, and Pedersen, 2019). Retail industry is one of the
most renowned and recognise industry for both entrepreneurs and customer. There are a lot of
opportunities, advantages, technology and government support which helps retailers to provide
effective products and services into market. This research will provide clear understating of the
impact on latest trends on Iceland food Ltd. The company is the British supermarket that deals in
prepared meals and vegetables, dairy and farm products also. The company gets impact with
various trends while working in current uncertain and trendy environment which is going to
identify in this report.
MAIN BODY
TASK
Research aim
To investigate the latest trends existed within industry of retail and their influence over
the organisational performance. A study on Iceland Foods Ltd.
Research objectives
 To examine the latest trends existed within industry of retail.
 To discern the influence of latest trends on business performance and succession
opportunities of Iceland Foods Ltd.
 To recommend the strategy used by Iceland Foods Ltd to minimise negative impact of
latest trend on business performance.
Research question:
 What are the latest trends prevailing in the retail sector?
 What are the influence of latest trends on business performance and opportunities of
Iceland Foods Ltd.
 What are the strategy for company to minimise the negative impact through latest trends
on business efficiency.

Literature review
To examine the latest trends existed within industry of retail.
According to Yang, Song, and Tong, 2017 the latest trends in retail industry are
affecting the business players. These latest trends are such as invest in the Omni channel market,
technology, digital support and highly concern for healthy food products (akobsson, and
Mayburd, eds., 2020). Therefore, these trends impact on the retail sector in terms of change in
strategies, preparing new budgets, hiring human resource workforce. Digitalisation and emerging
technology plays critical role in retail sector due to which, the business needs to bear impact on
risks and unplanned working culture . The retail trends which are highly affecting in Iceland
Food Ltd is the need of healthy food packages, sustainable packaging and production as well as
convenient deliveries. These are the crucial requirements of market that emphasising on adoption
of social media marketing, avoid plastics packaging and prepare food packages through natural
and organic ingredients for Iceland food Ltd.
To discern the influence of latest trends on business performance and succession
opportunities of Iceland Foods Ltd.
According to Danese, Manfè, and Romano, 2018 the latest trends which are identified
such as adopting digital technology, social media, concern towards healthy food packages and
sustainable production has high impact on the company. These trends brings opportunities for
the Iceland food Ltd as it will engage more of customer and enhance profitability. The latest
trends provide many advantages and competitive edge to the organisation if its gets fulfilled as
per the market requirement. The company could gain first move toward competition and create
barriers for the rivals. Therefore, Iceland food Ltd has influence of latest tends on their
performance and getting success. The digitalisation enhance the business performance of the
Iceland foods Ltd as they could reach to large number of customers and serve their healthy food
across different nations. This helps them to provide convenient deliveries which keep customer
retained and happy (Clarke, Heinonen, and Ottelin, 2017J). Also, the trend of healthy and
organic food drivings effective business performance as it become saviour for customer during
situation of Covid-19. The people are looking for high quality products within reasonable price
range that will impact on the whole organisation structure. The Iceland food Ltd has to prepare
new budgets, plans and strategies and providing trainings to employees.

To recommend the strategy used by Iceland Foods Ltd to minimise negative impact of
latest trend on business performance.
According to Llano, Arce, and Finger, 2021 it is obvious that, every organisation require
some time to adopt new trends, changes and new market demands. It require a lot of planing and
strategies which will be helpful to overcome with the risks involved in the latest trends.
Therefore, the strategies used by the Iceland Food Ltd is to mainly focus on social media
platforms to engage more number of customer. The company also largely emphasise on
sustainable production in which they reduces the use carbon emission, avoid plastic packaging
and support afforestation (Min, Zacharia, and Smith, 2019). Apart from this, the company use
to support plantation, animal welfare which will secure lives on planet. The company
recommanded to use more effective promotional tactics such as social media campaigns,
advertising and continuous improvements. This will be effective to keep customer about
discounted offers, schemes and benefits they are urge to provide for potential customers. It will
impact positive on the business performance of Iceland food Ltd. The society and customer both
gets happy and satisfied with the business practices that will result in achieving first mover
advantage of competition.
Research methodology
An appropriate research is the systematic presentation of research methodology. It
defines set of appropriate methods and sources which helps in achieving research aims and
objectives. It is vital to choose best method to get success in their work.
Research method:
There are various methods of research. These methods are appropriate and provide
relevant information to the researcher (Bernon, Tjahjono, and Ripanti, , 2018). There are
basically two methods qualitative and quantitative method. Qualitative method is required to
provide secondary data sources such as literature review, books and journals. Whereas,
quantitative data is mainly based on statistical data that includes questionnaire, interviews and
surveys. This research is based on both the methods. As both are effective methods to
accomplish the objectives and aims of research. Therefore, it will provide consent and accurate
information.
Data source and collection

Data collection method helps to analyse and identify appropriate methods to collect
relevant data. There are various methods of data collection which provide accurate information
and facts. It is necessary to collect data in appropriate manner and maintain the authenticity.
Therefore, this research is based on reliable sources which includes both primary and secondary
methods. Primary method is mainly for collecting facts, statistics and close ended information.
This method is effective and more accurate than the secondary data. Whereas, secondary method
is all about collecting data from literature sources. This method of data collection is appropriate
to save time and cost and gain a lot of data and information. This research is adopted primary
and secondary both method of data collection which gives accurate information.
Sampling
Sampling is all about collecting data from accurate sources. Samples are the segments of
the individuals which are attend by the two appropriate methods. These are probability and non-
probability. This research has collected data from 30 employees of Iceland Food Ltd.
Questionnaire
Q1. Do you think, focusing on current market trends are essential for organisation?
a) Yes
b) No
Q2. What are the crucial trends that are faced by retail industry?
a) Technology
b) Digital growth
c) concern towards healthy products
Q3. does Iceland food Ltd is able to fulfil necessary trends to achieve customer satisfaction in
the market?
a) Yes
b) No
Q4. What strategies performed by Iceland Food Ltd to gain positive market share after the
situation of Covid-19?
a) More concentration on organic food
b) Adopt online deliveries
c) Both

Findings and analysis
Q1. Do you think, focusing on current market trends are essential for
organisation?
Frequency
a) Yes 15
b) No 15
Interpretation: as per the above graph, it represents that, organisation needs to look at current
market trends as it is beneficial their growth and success. it is agreed by 15 responders whereas,
other15 respondents are not sure about it so they opt for answer no.
Q2. What are the crucial trends that are faced by retail industry? Frequency
a) Technology 10
b) Digital growth 5
c) concern towards healthy products 15
a) Yes b) No
0
2
4
6
8
10
12
14
16
Frequency

Interpretation: as per this graphical presentation, 10 number of respondents agreed that
technology concern towards healthy food products is the most crucial trend for retail sector. The
other 10 are in favour of technology as they are not satisfied with the services. The less number
of responded 5 are with digital growth.
Q3. Does Iceland food Ltd is able to fulfil necessary trends to achieve
customer satisfaction in the market?
Frequency
a) Yes 20
b) No 10
a) Technology b) Digital growth
0
1
2
3
4
5
6
7
8
9
10
Frequency

Interpretation: as per the opinion of 20 respondents out of 30, it has shown that Iceland Food
Ltd fulfilling necessary trends which results in gaining customer satisfaction. Whereas, other 10
respondents are disregard as they do not find practices effective performed by the company.
Q4. What strategies performed by Iceland Food Ltd to gain positive
market share after the situation of Covid-19?
Frequency
a) More concentration on organic food 10
b) Adopt online deliveries 10
c) Both 10
a) Yes b) No
0
2
4
6
8
10
12
14
16
18
20
Frequency

Interpretation: This representation of graph shows that the Company perform effective
strategies to gain positive impact in society. All the respondents have equally are in favour of all
the three options that are more concentration on organic food, adopting online services and the
others are agreed with both the options.
CONCLUSION
The report has concluded that business trends are uncertain and complex for the
organization. There are a lot of instability and market forces which creates influence on the
organisational practices. In the modern working environment, customer are becoming highly
demanding and expect new culture, design and ideas to attract them In first vision. Therefore, a
business in retail sector is surrounded with often uncertainty trends which might Crete both
positive and negative impact on the organisation performance. It depends on how company takes
action to practically implements strategies and plans in order to bring unique ideas for innovation
and achieving market objectives. Retail sector fights with large competition in both national and
international market. This competition give rise to be specific and unique to capture large market
a areas and exploit it by creating brand value. Therefore, the report has concluded about various
trends which are prevailing in the retail industry and how it has influenced the company
performance. The research has performed through supported literature sources and appropriate
a) More concentration on organic food
b) Adopt online deliveries
0
1
2
3
4
5
6
7
8
9
10
Frequency

methodologies. By conducting primary data, it has also identified that the company making
effective strategies for bringing healthy and nutritious products that are helpful to get a better
lifestyle and cope up with the seasonal changes. Their products are quality focus on an affordable
price range. It has identified that, technology and digitisation is becoming an issue for the
company due to which, people are not getting satisfactory services. The company is putting
efforts nut unable to achieving desired value from the practices. Therefore, below are some
important recommendation which would helps in cope with the trends and achieve targets
successfully:
 The Iceland Food Ltd needs to adopt omni channel marketing platforms to provide
convenient delivery experience. This will provide options to choose companies product
from different stores which is nearby to the customer place.
 The company must focus on reaching digitally to the customers. This will focus on
creating interpersonal relations and communication to keep customer interested and
aware about the new launch.
 It is necessary to gain market positioning. The Iceland food Ltd needs to target their
customer according to their specific demands and needs so that, each customer demands
will be fulfilled.

REFERNCES:
Books and Journals:
Hvass, K.K. and Pedersen, E.R.G., 2019. Toward circular economy of fashion: Experiences from
a brand’s product take-back initiative. Journal of Fashion Marketing and Management:
An International Journal.
Yang, S., Song, Y. and Tong, S., 2017. Sustainable retailing in the fashion industry: A
systematic literature review. Sustainability, 9(7), p.1266.
Danese, P., Manfè, V. and Romano, P., 2018. A systematic literature review on recent lean
research: state‐of‐the‐art and future directions. International Journal of Management
Reviews, 20(2), pp.579-605.
Min, S., Zacharia, Z.G. and Smith, C.D., 2019. Defining supply chain management: in the past,
present, and future. Journal of Business Logistics, 40(1), pp.44-55.
Bernon, M., Tjahjono, B. and Ripanti, E.F., 2018. Aligning retail reverse logistics practice with
circular economy values: an exploratory framework. Production Planning &
Control, 29(6), pp.483-497.
Llano, T., Arce, C. and Finger, D.C., 2021. Optimization of biogas production through anaerobic
digestion of municipal solid waste: a case study in the capital area of Re ykjavik,
Iceland. Journal of Chemical Technology & Biotechnology, 96(5), pp.1333-1344.
Clarke, J., Heinonen, J. and Ottelin, J., 2017. Emissions in a decarbonised economy? Global
lessons from a carbon footprint analysis of Iceland. Journal of Cleaner Production, 166,
pp.1175-1186.
Jakobsson, Á. and Mayburd, M. eds., 2020. Paranormal Encounters in Iceland 1150–1400.
Walter de Gruyter GmbH & Co KG.