Impact of Latest Trends on Iceland Foods Ltd in Retail Industry

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.