Inquiry Based Learning in Retail Industry

Inquiry Based Learning

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Current trends within retail industry...........................................................................................3
Complete analysis of organization..............................................................................................4
Recommendation........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Inquiry based project is a significant learning process which tends to effectively involve
the group of students in order to make connection with the real world by exploring high level
questioning. This is relevant for the students to effectively engage with the experiential as well as
problem solving learning. The present study will carry out complete research related with the
current trends within retail industry and also carry out complete analysis of organization.
Moreover, appropriate recommendation is also given for better performance. For the study,
Marks and Spencers company has been selected. This is a major British multi- national retailer
which has been headquartered within London in year 1884 by Michael Marks and Thomas
Spencer.
MAIN BODY
Current trends within retail industry
Retail industry in turn has been going through an enormous degree of change. The
behaviour of the customers has been changing and their expectations are significantly high. As
per the 2019 results, the total value of the retail sales of UK is € 394 billion. The total number of
the UK outlets in the year 2019 were 306,655 and the online sales has risen up to three fold i.e.,
324% in last 10 years (UK RETAIL STATS & FACTS, 2020). One of the key current trend within
the retail industry is that the retailers focuses on giving personalized set of experience to the
customers. However, the rise within the personalization in retail industry trend has led to
innovation within the technology such as artificial intelligence and machine learning.
Customized customer centrality has resulted in effectively driving growth and leads to progress
within the market. Also, the rise within the technology has significantly led to the retail industry
trend. It is crucial for the retailers to speed up and also expand the services to significantly
respond to the key culture of immediateness (Bamfield, 2018). This is mainly because the
consumers want immediate set of results within the retail industry. Expanding the business into
the emerging markets and also creating new set of channels is one of the most common trend
within the retail industry. It is of crucial relevance to tap into the newer international and
emerging markets. This is relevant in increasing the market share of the industry. Another major
trend within the retail industry is to ensure that the business must be carried out in an ethical
manner by ensuring ethical and social consciousness. There are large number of consumers who