Trends in Retail and Analysis of Greggs Plc

This report discusses the trends in the retail sector and provides an analysis of Greggs Plc, a food and bakery company. It also includes recommendations for better performance.

Inquiry Based
Learning

Contents
INTRODUCTION................................................................................................................................3
MAIN BODY........................................................................................................................................3
Trends in retail.................................................................................................................................3
Analysis of organisation.................................................................................................................5
Recommendation............................................................................................................................7
CONCLUSION....................................................................................................................................8
REFERENCES....................................................................................................................................9

INTRODUCTION
Retail sector is increasing growing and developing its services and it is very
important for organisation meet with market trends and customers needs (Abdi,
2014). There are different sources through which company can analyse and
determine the market trends as well as needs of customers. there are different
factors that will affect the overall performance of business. Chosen company for this
report is Greggs Plc. This organisation is dealing in food and bakery sector and
offering its products and services from 1939. Founder of Greegs company is John
Gregg and its products are sandwiches, baked goods, pies and pastries and so on.
This company is providing its products and services form many years and
headquarter of Greggs Plc is located in Longbenton, North Tyneside, United
Kingdom. This report will includes various trends of retail sector along with the
analysis of organisation. Apart from this different recommendations are provided for
better performance of company.
MAIN BODY
Trends in retail
Retail is one of the largest sector in the world as it includes different products
and services. This sector is focusing on providing products and services which s able
to meet with the needs and requirements of customers (Hwang, Chiu and Chen,
2015). It is essential for organisation which is performing its business activities in
retail sector to indentify and analyse current market trends. This will help in providing
effective and efficient services that will lead to meet with the needs and requirements
of customers. There are several market trends that have impact over retail business.
Trends are mention below in detail.
Multichannel sales – It is essential for organisation to use different channels in
order to provide its products and services to customers. Multichannel sales services
will lead to increase the area of market reach as well as attract more and more
customers towards business. Retail company will be able to grow its business in
new market by considering multi channels in its services. There are various ways
through which a company can offer its products and services to customers and

multichannel approach will make it easy for organisations. Greggs Plc can needs to
use multi channel in order to sale its products to large number of customers.
Through this company will be able to collect raw materials and other resources form
various channels.
Digital media – This market trends in growing very fast as digital media is used by
customers. Digital media is one of the effective source that is helpful in providing
information to large number of customers at the same time (Maaß and Artigue,
2013). This is very effective in providing high quality services to customers as per
their needs and requirements. Digital media offer different types of platforms such as
social networking sits, online shopping, blogs and many more. Greggs Plc
organisation needs to take advantage of digital media for promoting its products and
services in order creative and attractive manner. This company can sale its products
though with the use of different platforms.
Personalized shopping – Personalized shopping trend is increasing in demand
very fast. This will help customer to get product and services as per their
requirements. Retail industry is providing different types of products and services as
per their requirements. By offering personalized shopping services to customers,
Greggs Plc company will be able to influence more number of customers. This is
new concept of retail company which is helpful in understanding needs and
requirements of customers. Greggs Plc company is making varieties of baked
products and by offering personalized shopping services, this organisation will be
able to use ingredients that is according to preference of customer.
Customer services – Customers services are one of the crucial element in order to
influence and attract customers. for companies customers are considered to be king
and they try to provide high quality services in order to meet with the needs of
customers (Laursen and et.al., 2014). It is very important for Greggs Plc company to
adopt this trend in its business practices as this will help in creating strong
relationship with customers. customer services that can be included by respective
company is offering assistance to customer for chosen most appropriate product
from them. Effective communication with customer in order to guide them properly.
This will lead increase loyalty of customers towards Greggs Plc company.

Growing culture – It is essential for company to consider growing culture and
environment in organisation. Greggs Plc needs to use new and innovative
technology in its business practices as this will help in performing business operation
in more effective manner. Growing culture trends refers as the trend in which
company is not only working to increase sales or earn profits. But in this culture
organisation will focus on their overall growth and development of business. It is
essential for organisation to follow growing culture as well as conduct business
activities in ethical manner.
Analysis of organisation
There are many factors that is affect performance of business. It is crucial for
organisation to analyse and evaluate the all of these factors which have impact on
business and its activities (Bayram and et.al., 2013). By determining internal and
external factors of organisation respective company will be able to take correct
decision for growth of organisation. in order to analyse organisation and its activities
PESTEL and SWOT analysis model in used. PESTEL will help in determining the
external factors where as SWOT will help in evaluating internal capabilities of
organisation.
PESTEL analysis
Political factor – High level of stability in political party and its rules and regulation will
lead to support retail companies. Greggs Plc organisation will be able to perform task
effectively.
Economical factor – Strong and increasing economic rates are very effective in
conducting business task and activities in effective manner (HarlEn, 2013). Growth
rates of GDP will help in growing Greggs Plc business.
Social factor – This company is developing and creating products and services which
is as per need and requirements of customers. Difference in customer preference
and requirements will affect functioning of Greggs Plc company.
Technological factor – This factor is related to consideration of new and innovative
technology in business process. Greggs Plc company needs to use advance
technology as this will help in gaining competitive advantage over other rival
companies.

Environment factor – This includes weather condition, changes in climate, ecological
systems, pollution and so on. Increasing in climate issues will lead to impact on
supply chain management of Greggs Plc company. It is important for this company
to conduct different corporate social activities in order to attract customers.
Legal factor – Changes in employment and customer laws will lead to affect
functioning of Greggs Plc business (Juntun and Aksela, 2013). Increase in salary
and wages will affect the profits of respective company. Greggs Plc organisation is
considering safety and security of customers while developing and delivering its
products.
SWOT analysis
Strength Weakness
This company is offering its product and
services from many years. Greggs Plc
company has its reach over large market
area. respective company has strong
financial position as well as has large
asset base. This company is providing
high quality of products and services in
order to meet with their requirements.
Research and development department
of this company can be consider as its
weakness. Greggs Plc is offering its
products to different part of the world and
due to lack of research this company is
not able to full fill the preference of its
customers. High day inventory is
increasing the cost of Greggs Plc
business.
Opportunity Threat
This company has advantage to use new
and innovative technology as this will
help on conducting business task in
better manner. Through this Greggs Plc
company will be able to determine the
needs and requirements of customers. It
is important for this company to use new
and innovative methods of marketing its
products and services in market area.
This will help in increasing the
awareness of products in market area.
Greggs Plc company has threat from
technological development by its rival
companies. This will put more pressure
of respective company. High
performance of competitors will lead to
affect the market share of Greggs Plc
company. This business has also threat
from changes in rules and policies that is
developed by organisation.

Recommendation
As per the analysis and evaluation of Greggs Plc organisation as well as deterring
different market trends, some recommendations are provided. It is crucial for Greggs
Plc manager to consider these recommendation in order to conduct its business
activities in effective manner. Recommendation for growth and development of
Greggs Plc company is mention below.
Technology development – It is suggested that Greggs Plc organisation needs to
timely upgrade its technology. This will help in performing organisational task and
activities in better and accurate manner. By developing technology, Greggs Plc
organisation will be able to gain edge over other rival company. Technology is very
important in conducting different business task such as research, marketing,
operation and many more. With the help of high technology respective company to
be able to conduct market research in better manner. This is very helpful in
understanding the needs and requirements of customers.
Rules and regulation – It is crucial for Greggs Plc company to follow all rules and
regulation that is developed by government party. There are set of rules and
regulation is created by government and political party that will have direct impact on
performance and activities of business. By following rules and policies this company
will be able to develop strong image in market area. following rules and legislation
related to employment laws, customers, health and security of individual will support
in smooth functioning of business.
Social media – This a significant platform which is very trending now a day. Greggs
Plc company will be able to enhance its business performance as well as attract
more customers with the help of social media. This provide new and innovative way
to communicate with targeted customers as well as create awareness about
offerings of respective company. Greggs Plc organisation is offering its products
from many years but it does not have strong image in market. For this Greggs Plc
company needs to use different types of social medias in order to increase
awareness about company.

Ethical consideration – This element is very important for business as it will help in
conducting organisational task in correct and appropriate manner. By condsidering
ethical rules and values Greggs Plc organisation will be able to develop strong
relationship with customers. Ethical consideration is helpful in creating strong brand
value in market area.
Training and development – There are different types of training and development
methods that is beneficial for organisation. Training and development will lead to
increase skills and competencies of employees. Staff of Greggs Plc company will be
able to conduct its business operations in effective manner by proper training. This is
important in boasting moral of employees as well as motivating them so that the
accomplish set goals and objective of business. It is recommended to Greggs Plc
company to provide training as per the needs and requirement of employees.
CONCLUSION
From the above report it has been determined that there are different market
trends that affect business as well as its performance. It is crucial for organisation to
conduct business activities with the help of new technology as this will help in
gaining competitive advantage over other rival companies. By considering ethic and
preference of customers organisation will be able to growth its business and
accomplish desired goals. There are several internal and external factors that affect
the functioning of business. It is essential for company to analyse and evaluate thede
factors in order to take better and effective decision for organisation.

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