Impact of Retail Trends on Morrison: Analysis and Recommendations
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The report analyses the impact of retail trends on Morrison, a UK-based supermarket, and provides recommendations to overcome the challenges. The report includes a PESTLE and SWOT analysis, primary research, and suggestions for a more effective supply chain and digital technology adoption.
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Executive summary The report has analysed various market Trends and factors that impact on the industry and the company as well. The retail sector is mostly growing once which control every organisation through digital only channel and first fashion trends. The report has identified that the Morrison is affected with technology and social factors by not fulfilling customer demands as per trends. Also the Covid-19 is become the most irresistible threat with lowers down the revenue. The recommendations on also provided in which the company needs to maintain more effective supply chain and grow their future with digital technology.
Table of Contents Executive summary.........................................................................................................................2 INTRODUCTION...........................................................................................................................4 MAIN BODY..................................................................................................................................4 TASK...............................................................................................................................................4 Background of the company........................................................................................................4 The trends in Retail Industry:......................................................................................................4 Models of analysis.......................................................................................................................5 CONCLUSION..............................................................................................................................13 References......................................................................................................................................14 Books and journals:...................................................................................................................14
INTRODUCTION Inquiry based learning is an important concept for a student in order to learn from searching and finding the solution in their own way. They do not seek attention or guidance from teachers in which the student could appropriately find out the solution through involving in various case studies. This report is going to analyse the case of Morrison which is a large Supermarket of United Kingdom. The company has expertise in selling consumer goods across different market segments. There are many factors which affect this company in order to take growth and reach to the Heights (Hughes Morrison, and Dobos, 2018). It is necessary to eliminate the week factors and build more strength elements. This report is going to talk about the trends in Retail Industry and how it has impacted through large business environment. Also there will be a questionnaire based on the primary research. At last effective recommendations will be provided to overcome with the issues and competition. MAIN BODY TASK Background of the company Morrison is a largest Supermarket of UK England. the company was established in 1899 and still running their operations successfully into the large market. The company has its operation only in England where they have 497 stores in the year 2021. They provide number of quality goods and services to maintain customer satisfaction and a brand reputation. They are mainly dealer of food clothing, petrol, books and magazines. The company deals with the brand safe way which they have took over in 2004. The customers are attracted towards the company due to there reasonable Supermarket prices and effective and convening in facilities in all over the England. The company fails to enter in new market due to not working as per the retail trends. The trends in Retail Industry: Retail Industry has broad natures which are affecting much Organization in this industry. Retail Trends are most common and necessary to look at. This industry is mainly close to the
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customers with cells almost every product which an individual require in the day today needs. There for many Trends are affecting the industry which are described below: Trend of digital technology: it is the most ongoing trend in the market. Working on digital platforms is become necessary to connect with customers learn their needs and wants solve their queries and provide convenient deliveries (Husni, 2020). The retail Industries affecting with high competition due to which this trend could become a positive insights for the retailers. Morrison company is focusing on providing their goods through e-commerce platforms but it is affecting the company you do not having proper IT management. Omni channel marketing: it means that the organization needs to provide their product and services through many platforms for customer convenience. It is become vital to target the customer through diversified channels which will help in selling divisible products as well. Morrison is not adopting this trend due to which they face problems in expansion. Fast fashion:It is also the biggest trend of retail sector in which the Morrison is working. Fast fashion is affecting the overall companies operation and production policies with suffered in high cost detention (Sastradika, and Defrianti, 2019). It is also become a failure for Morrison as the customers are becoming rigid in choosing product. It is need for the company to favourably come up with new products to maintain a regular flow of great turnover and revenue. Models of analysis PESTLE analysis This analyse helps in identifying external market factors which influence in the business decision. The company could prepare strategies after reviewing all the factors that must be well maintained. In context of Morrison to establish their position in the market, This analysis is presented below: Political:The factors show impact of current political systems in which all the taxes and trade are included. The Morrison Company is affected with brexit policies in UK and they could not be able to trade fairly in the European Union.
Environmental:This factor consist the impact of pollution hazardous practices affect the environment and natural resources. Therefore the modify use sustainable practices like recycling using and Re packaging. Social:this factor creates emphasis on full feeling society needs by considering there valuable factors like culture believe values and Trends (PRAYOGI, and YUANITA, 2018). The Morrison need to focus on this factor in order to make new developments and provide diversified range of products. Technological:It is become a major concern for the Retail Industry of UK. The Morrison is impacted with this factor due to not having much technological interferences. The must use digital platforms to enable their reach to the different parts of the world. Legal:It includes the legal obligation that impact on the organization working. The Morrison follows the entire equality act 2010, Health and Care act and other employment rights in order to create fair practices. Economical:The Retail Industry of UK is highly contributing in the economy which gives rise to its expansion and development (Budiastra, Erlina, and Wicaksono, 2019). Morison is one of them as they acquire hi revenues and give competition to other firms. SWOT analysis It helps in identifying the most strong point of the business that will lead to overcome the weakness (Taub, and Azevedo, 2018). The opportunities will create benefits from the internal, market condition. Also, the threats must be identified and actions must be taken effectively. In context of Morrison, it has presented below: Strengthweakness The Morrison has great repeated brand namewhichcreatesahikeintothe market. The company deals in quality goods withinaffordablepricesthatarethe mostdesirableelementforthe The company does not have reached intotheinternationalmarketdueto which they lack with the opportunities internallyandexternally(Theobald,. and Ramsbotham, 2019). Morrison sometime fails to deliver right
customers (Gholam, 2019).product at the right customer due to improper supply chain OpportunitiesThreats TheCompanyhasopportunityto develop great Technology Services in terms of AI, website and social media. They have great financial investment which can be put in foreign markets them for collaboration. Covid-19 is the most affected threat for Morrisonwhichhasreducedthe revenue. Competitors are always a barrier for the Morrison which leads to hinders their operations to be market leader. Primary research It is an important area to conduct research in accurate and reliable form. It provides realistic and fresh data which is collected in the form of questionnaire. The sample size taken is 10 employees of the Morrison Company. Questionnaire Q1. In your viewpoint, is it effective to learn about the trends of market? Yes No Q2 what are the recent trends that are affecting the Morrison? Digital technology Fast fashion Omni channel marketing Q3. Does the company Morrison getting impacted with the trends in their expansion. Yes No Q4. Which strategy is most prominent for Morrison to eliminate negative impact? Create more sustainable supply chain’
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Focus on ongoing customer demand Interpretation Q1. In your viewpoint, is it effective to learn about the trends of market?Frequency Yes9 No1 YesNo 0 1 2 3 4 5 6 7 8 9 Frequency Frequency Interpretation:It has interpreted that as per 9 viewpoints it is affective to learn about market Trends for the organisation. Where as one individual is not in favour of this statement. Q2 what are the recent trends that are affecting the Morrison?Frequency Digital technology5 Fast fashion2 Omni channel marketing3
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 Frequency Frequency Interpretation:As per the graph, the most recent trend which is affecting the Morrison is digital technology and then Omni Channel Marketing and fast fashion. 5 individuals voted for digital technology that must be taken into consideration. Q3. Does the company Morrison getting impacted with the trends in their expansion. Frequency Yes6 No4
YesNo 0 1 2 3 4 5 6 Frequency Frequency Interpretation:The presented data has shown that 6 people believe the Morrison is getting impacted with the trends which has stopped their expansion. The Other four and not in favour of the statement. Q4. Which strategy is most prominent for Morrison to eliminate negative impact? Frequency Create more sustainable supply chain’5 Focus on ongoing customer demand5
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0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 Frequency Frequency Interpretation:The most appropriate strategy is to create sustainable supply chain as well as focus on ongoing customer demand is the prospective of five people for each option. Recommendation Morrison should follow these recommendations and proposals for speedier growth, there are effective solution which needs to be taken care in the competitive world. A more dynamic, and efficient supply chain. The business must create a fair policy and put it into action to ensure that human rights are respected. In order to improve its products and services, the business can take advantage of or receive assistance from foreign governments. Every three months, a professional team or expert must visit the factory floor to improve the supply chain and manufacturing process. It will help the company to involve fast fashion. Visiting a factory or manufacturing sector can be viewed as a surprise visit as well as a criticalexaminationformeasuring,monitoring,managing,andcontrollinglabour conditions. It takes a significant investment in automated warehouses and proximity sourcingtomakeasupplychaineffective.Otherlegallawscanhelpwithlaw enforcement in this regard, but they are unable to spend because to a lack of funds the
each organisation must make the required investments to ensure that its employees are safe and protected. With this, if the labour or employees over there are happy and safe, this will have a beneficial effect on efficiency, resulting in increased profit for Morrison. The business must recognise that the industry is changing, and that relying on their old school supplies to keep the relationship going will not be effective. They must consider changing it rapidly in their supply chain management and utilising the competences of their internally project as well as the networks of physical stores that creates multi networkto build it new which will create competition for the rivals. The Morrison needs to invest more in providing good opportunities to their employees through giving digital solutions like working from home remote working and giving guidance on employee portal. This will help them to work in critical situation of Covid- 19and give a favour to the company. The Company needs to create expansion strategies by generating great revenues from UK market and invest for different market entries mode. Therefore it will be effective to expand in other locations and grow their sales and profits. A company is required to a certain better growth for the market through focusing on ongoing Trends and opportunities. The more they will focus on Trends like digital technology and Omni Channel Marketing they will get closer to the success. The most invent in both physical and online stores through dealing with other brands as well. CONCLUSION ThereporthasconcludedthataRetailIndustryanditsbusinessenvironmentis surrounded with many factors both internal and external. There are many reasons for the failure of company in the Global market that would impact on their future strategies. Therefore it is required to analyse the results in the initial level so the company could take better actions. In this report there is analysation of the retail trends which become a necessity and reason for failure. Therefore, the company needs to invest in both physical and online channels to attract huge public and make expansion. The pestle and Swot analysis has helped to find the impact of Covid- 19 and Brexit.
References Books and journals: Hughes, J., Morrison, L. and Dobos, L., 2018. Re-making teacher professional development. InTransforming our World Through Design, Diversity and Education(pp. 602-608). IOS Press. Khalaf, B.K., Zin, M. and Bt, Z., 2018. Traditional and Inquiry-Based LearningPedagogy:ASystematicCriticalReview.InternationalJournalof Instruction,11(4), pp.545-564. Husni,H.,2020.TheEffectofInquiry-basedLearningonReligiousSubjectsLearning Activities: An Experimental Study in High Schools.Jurnal Penelitian Pendidikan Islam,8(1), pp.43-54. PRAYOGI, S. and YUANITA, L., 2018. Critical inquiry based learning: A model of learning to promote critical thinking among prospective teachers of physic.Journal of Turkish Science Education,15(1), pp.43-56. Theobald, K.A. and Ramsbotham, J., 2019. Inquiry-based learning and clinical reasoning scaffolds: An action research project to support undergraduate students' learning to ‘think like a nurse’.Nurse education in practice,38, pp.59-65. Gholam,A.P.,2019.Inquiry-basedlearning:Studentteachers’challengesand perceptions.Journal of Inquiry and Action in Education,10(2), p.6. Taub, M. and Azevedo, R., 2018. Using Sequence Mining to Analyze Metacognitive Monitoring and Scientific Inquiry Based on Levels of Efficiency and Emotions during Game- Based Learning.Journal of Educational Data Mining,10(3), pp.1-26. Budiastra, A.K., Erlina, N. and Wicaksono, I., 2019. The factors affecting teachers’ readiness in developing science concept assessment through inquiry-based learning process in elementary schools.Advances in Social Sciences Research Journal,6(9), pp.355-366. Sastradika, D. and Defrianti, D., 2019, June. Optimizing Inquiry-based Learning Activity in Improving Students’ Scientific Literacy Skills. InJournal of Physics: Conference Series(Vol. 1233, No. 1, p. 012061). IOP Publishing.