Analyzing Current Trends in the Retail Industry: A Case Study on ASDA

INQUIRY BASED
LEARNING
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
LITERATURE REVIEW................................................................................................................4
METHODOLOGY..........................................................................................................................7
FINDINGS.......................................................................................................................................9
CONCLUSION................................................................................................................................9
RECOMMENDATIONS.................................................................................................................9
REFERENCES..............................................................................................................................11
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TOPIC: TO ANALYSE DIFFERENT CURRENT TRENDS IN THE RETAIL INDUSTRY. A
CASE STUDY ON ASDA
INTRODUCTION
Trends in retailing industry have changed in the market which is why retailing industry
have to make sure that there are right actions which are being taken (Kunc and Križan, 2018).
Some current trends of retail sector are: Omni channel experience, augmented reality, Artificial
intelligence and others. Consumers’ demands and needs are changing with time which has to be
well evaluated and improved accordingly so that the company will be able to have higher
portfolio and reputation in the market. For being in the competition, it is important for ASDAto
focus on current retail sector trends. These trends can help this retailer in attracting and retaining
customers with its business for the long run.
Background of the research
Knowing retail trends is must for retailers as it can make them able to increase customers’
satisfaction rate. This study is based on ASDA, British supermarket chain, founded in 1949. The
company has understood the changes and impact of trends which is present in the company, and
they have to be entertained by the company so that the brand reputation and image is well
maintained. The further report is going to discuss the trends which are coming in retailing
industry and analyses of market and recommendation which is taking place.
Research aim
The main aim of this study is to “ identify current trends of retail sector that can improve overall
performance of ASDA”
Research objectives
1. To identify current retail trends.
2. To discuss impacts of current trends on performance and sales of ASDA.
3. To critical analyse business environmental factors of retail sector.4. To recommend some ways to ASDA for taking competitive advantages and improving
performance.
Research questions
1. What are some current trends of retail sector of the UK?
2. How current retain trends can impact on performance of ASDA?
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3. What is the importance of analysing business environmental; factors of retail sector?4. Which strategies can help ASDA in taking competitive advantages and improving
performance?
Rationale
The main reason behind selecting this topic is to help retailers of the UK to being in the
competition and increasing customers’ satisfaction rate. B knowing main current trends, ASDA
and other retailers of the UK can increase their sales and can also make beneficial to customers
by offering qualitative products to them. This can also help in increasing knowledge related to
retail sector and customers’ preference that can help me out in career development and it is
another reason of selecting this topic.
LITERATURE REVIEW
Current trends of the retail sector in the United Kingdom
As per Sojkova and et.al., (2019), leaders and managers have to be good experienced in
order to be able to get in the right working and performance which is going to be present. Some
retail trends that can help ASDA in attracting customers and competing against big retailers of
the UK are: Omni channel experience: In this digital era, customers have multiple devices and it
helps them out in talking final buying decision as they browse through all of these devices and
make appropriate buying decision. It is also found that retailers of the UK have realized that
Omni channels will continue to raise so; they will also need to strive hard towards offering a
harmonious experience across both offline as well as online channels. It can be said that if
ASDA focus on identifying customers’ needs and help them out in increasing their digital
experience then it can help it out in becoming the best retailer. It is also found that ASDA makes
an effective use of social media and with this, it can change their decision and can retain them
with business.
Augmented reality is other main trend of retail sector. It is also found that retailers, who
have used it for operating their functions, improved their performance. There are some retailers
who have started making use of this technology for offering fashion and home decor brands to
their customers. It helped them out in increasing or providing immense shopping experience to
customers. This technology allows customers to superimpose digital content over real life scene.
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