Retail Trends and Analysis: Waitrose Limited

This report analyzes the retail trends and financial performance of Waitrose Limited, a British supermarket. It discusses the challenges and opportunities in the retail industry, as well as recommendations for Waitrose to improve its market presence and online strategy.

Inquiry Based
Learning

Table of Contents
INTRODUCTION...........................................................................................................................1
RETAIL TRENDS...........................................................................................................................1
ANALYSIS AND DISCUSSION...................................................................................................2
Primary Research.........................................................................................................................2
Secondary Research.....................................................................................................................3
RECOMMENDATIONS.................................................................................................................3
Action plan...................................................................................................................................4
CONCLUSION................................................................................................................................4

INTRODUCTION
Current investigation report is particularly relies on the specific business organisation which
is Waitrose limited. This report is basically going to cover the financial performance of company
by considering its specific objectives goals and stakeholders of the company are primary
recognised or not with all the risk factor that are undertaken into consideration and Research as
well (Lazonder and Harmsen, 2016).
RETAIL TRENDS
As per Retail Economics, 2020, Retail Industry of UK carry total value of around 394 billion
in relation with sales. In addition to this by considering employees in this they are working
within the United Kingdom’s Retail Industry as they are in number approximately 2.8 million.
Moreover the amount which consumers spend on the Retail Industry which approximately one
third which represents that this sector is considered as the most powerful factor which influence
the economy of United Kingdom. Meanwhile online share of retail sales is done by this industry
in the year of 2019 is around 21%. In addition to this the growth percent of retail sales is quite
different from each product which is offered by other business organisations and performed
around 3.3%. Despite from this Total registered VAT retailers in UK is approximately 209 000.
In addition to this by considering the retail stores and supermarkets then they have presence
around 306 650 in numbers. Furthermore the mount which is generated by Retail Industry is of
total GDP that is around 5%. Considering this it is analysed that average annual expansion of
online retail sales was around 10% in 2019.
On the other hand by considering the Retail Industry challenges and problems it is analysed that
because of this Retail Industry face various changes that are considered as there trends. For this
the primitive friend that is examined and the industry is the shift of the mind set of customers
from offline shopping to online as in this method they see their convenience and it is easy for
them in which they also changed their spending nature as well (Chu and et. al., 2017). This
Trend point out the economic risk and uncertainty by considering the business environment as
well.
Apart from this major challenges that are faced by Retail Industry was because of brexit as it
impacts the demand of various product and services at the time of festival and normal as well.
Therefore this specific condition is considered as the circumstances of political instability. In
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addition to this it is analysed that the 2019 was the worst year for the British Retail Industry as in
which there sales cut down for the first time in past 24 years because of the terrible performance
on the High Street that bring down the sector. Apart from this if the market Trends are analysed
then they are still running as international market as some of them are discussed as under:
 Prioritizing experiences over shelf space: Many of the businesses and Organisation put
emphasis on using advanced technology like artificial intelligence as it is done in order to
attract more and more customers towards them that leads to enhance and improve their
overall productivity and sales (Buchanan and et. al., 2016). In relation with these
customers that are techno friendly and remains connected with internet is helpful for
them as it makes their life easy.
 Taking online brands to offline in creative way: Most of the companies who deals in e-
commerce online market now start opening their physical Store and spreading their
physical appearance in various areas in order to expand their business and attract more
and more customers that leads to enhance their sales and revenues (Siayah, Setiawan and
Van Bee, 2019). For this the current retail market trend is helpful for organizations who
expand their business in various areas and provide them proper amount in which can
easily represent their products and make customers believe that that product is best in
comparison to others in the same way which they want.
ANALYSIS AND DISCUSSION
Waitrose and partners is the British brand supermarket retail store which deals in groceries
and other concerning products. Headquarter of company is situated in Bracknell and Victoria
England and company was founded in 1904. Waitrose has around 338 stores across United
Kingdom in which 65 stores are considered as little Waitrose and has around 5.1 % share of
market. In addition to this it is analysis that in terms of sales and revenues company relies on the
eighth largest position in terms of retailers in all over the world.
Primary Research
By considering the primary information it is taken from the stakeholders of Waitrose in
which respondents around 50 is interpret that organization does not need to develop numerous
number of changes as only need to collect information regarding how prominently they can
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change themselves and create Strategies for the betterment of them and stakeholders as well
(AKTAMIŞ, HİĞDE and ÖZDEN, 2016).
SWOT Analysis:
 Strengths: Company offer fresh and organic food products to their customers that are of
high quality and can be fit according to the requirements of customers. For this company
runs its own farm in which they produce their own food products and stuff for the
consumption (Coffman, 2017). Despite from this, company sell high quality products and
services to its respective customers with the help of prominent online website and
platform.
 Weaknesses: The online presence of company is quite weak and may not be very
effective in comparison to others. As not all the customers are capable enough to shop
offline and by considering the convenience and ease of Customers Company need to
expand them in terms of its online presence. Moreover, the competition is quite stiff
within the industry in comparison to other companies, as they get prominent chance to
expand their business (Hsiao and et. al., 2017).
 Opportunities: Waitrose has opportunity to expand its online presence with the help of
many e-commerce websites in order to sell its products and groceries online. This enables
the entity to reach as many of the customers across the world to gain better customer
experience.
 Threats: In relation with this, Waitrose put emphasis on the upper class people and
market and because of this, it neglect the huge market area that is dominated by lower
class people. This can become major threat for company as its indiscriminately targeting
strategy impact its success and growth (Ješková and et. al., 2016). In addition to this,
company also face threats from many grocers across the world that enter into the UK
market which means that market is becoming more smaller.
Secondary Research
According to Laksana, (2017), it is determined that Waitrose need to use prominent strategic
performance management technique that is considered as corporate steering wheel. By this
company can easily connect each and every individual regarding the development of its plan and
procedure towards the specific corporate vision mission and objectives that are required to
achieve for the success and growth of company and should be managed and monitored for the
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delivered strategy. Because of this Waitrose need to considered all the pros and cons which can
influence the performance level of company and its strategy. In this case it is important to make
proper structures that should be effectively achieve and updated in order to face prominent
changes in the business idea. At some point when the basic needs gets changed then the white
representation structure should also be changed as well (Karamustafaoğlu and Havuz, 2016). The
unique steering wheel strategy of Waitrose consider four major points with itself including
Finance, customer, people and operations each of the four aspects contain several vital
information with prominent features that the needs of the business describe. The operational
viewpoint contains four major objectives:
 Purchasing should be better for the customers
 Working pattern should be simple for subordinates
 The method by which business is operated is cheaper for them
 The operations and working area of company should be responsible and safe
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RECOMMENDATIONS
Considering the above discussed information it is determined that company to make itself
more techno friendly and update itself in terms of tech savvy. As because in current time most of
the customers are relies on technology and use techno friendly to shop as it make things easy for
them. Moreover it is also required by the company to describe their product portfolio and other
services in same way as consumers also look various E-Commerce websites to purchase their
product like Amazon, Flipkart and so one. It is also recommended to company as in order to
acquire more customers and market and to sustain their position they need to follow all the
current trends that are exist in the business environment as it helps them to become the leader of
market and not only of the United Kingdom but across the world. In addition to this company to
opt several changes and for this they need to organise market research in order to grab large
market area as it leads to enhance their productivity and profitability. By considering the above
discussion to enhance the productivity and efficiency of Retail Industry Waitrose should opt
prominent changes for their survival in the rapidly changing business conditions. For these
suitable recommendations which Waitrose should adopt is discussed as under:
 Waitrose need to improve its market and online presence and due to this they need to opt
updated Technology in order to provide their products and services to potential
customers. For this company to offer convenient shopping in which consumers can easily
and anytime visit Store describe that it is open for 24*7 which is helpful for the
customers. Therefore this element allows company to target more customers that is
helpful in improving their profitability.
 Furthermore Waitrose need to spread awareness regarding its products and services with
the help of Internet online platform and social media techniques that include Instagram,
Twitter, Facebook and so on in order to advertise its products. It is useful for the
company in order to expand its business and presence of its offerings within the market
area in order to target customers that lead to enhance their sales and profitability.
Action plan
Considering the best possible information about managing the promotion conditions is
helpful in taking prominent choices. For this the items should be qualitative in terms of demands
and requirements off the client full stop the product should not be more costly or of poor quality.
At the starting stage the assistance of products and refund techniques should be taken in order to
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attract customers and make their nearby people more enthusiastic towards company. For this
activity plan incorporate and identify the areas in which stores could be open and describe
prominent range of splitted market. With the perspective of reinforcing the brand on mindfulness
and instructions of customers it is analysed that there is enormous requirement of centring upon
the suitable time blend. What is the online media and TV can become the fundamental source in
order to spread the data information about the accessibility of Waitrose.
CONCLUSION
By considering the discussion it is concluded that retail market is dynamic and changes itself
in order to update and bring various changes in the market conditions and services that are used
before. Hence in order to maintain their place in the crucial market it is important for company to
give tough competition to sustain their place such as Waitrose need to develop numerous
Strategies and policies in order to provide best experience to their respective customers is it leads
to get high rate of return for the shareholders and stakeholders.
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REFERENCES
Books and Journals
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engagement: A literature review. School Libraries Worldwide. 22(2). pp.23-39.
Chu, S.K.W and et. al., 2017. 21st Century skills development through inquiry-based learning.
Springer Singapore:.
Coffman, T., 2017. Inquiry-based learning: Designing instruction to promote higher level
thinking. Rowman & Littlefield.
Hsiao, H.S and et. al., 2017. A five-stage prediction-observation-explanation inquiry-based
learning model to improve students’ learning performance in science courses. Eurasia
Journal of Mathematics, Science and Technology Education. 13(7). pp.3393-3416.
Ješková, Z and et. al., 2016. Efficacy of inquiry-based learning in mathematics, physics and
informatics in relation to the development of students inquiry skills. Journal of Baltic
Science Education. 15(5). p.559.
Karamustafaoğlu, S. and Havuz, A.C., 2016. Inquiry based learning and its
effectiveness. International Journal of Assessment Tools in Education. 3(1). pp.40-54.
Laksana, D.N.L., 2017. The effectiveness of inquiry based learning for natural science learning
in elementary school. Journal of Education Technology. 1(1). pp.1-5.
Lazonder, A.W. and Harmsen, R., 2016. Meta-analysis of inquiry-based learning: Effects of
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Siayah, S., Setiawan, A.R. and Van Bee, J.L., 2019. The Impact of Inquiry Based Learning
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Online
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<https://www.retaileconomics.co.uk/library-retail-stats-and-facts>.
UK retail industry suffered worst year on record in 2019. 2020. [Online]. Available through:
<https://www.theguardian.com/business/2020/jan/09/uk-retailers-suffer-worst-year-
record-job-cuts-store-closures>.
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