Inquiry Project: Current Trends in the Retail Industry and Analysis of Marks and Spencer

Inquiry Project

Contents
INTRODUCTION......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Current trends in the retail industry....................................................................................................3
Analysis of Marks and Spencer..........................................................................................................5
Recommendations................................................................................................................................7
CONCLUSION..........................................................................................................................................8
REFERENCES..........................................................................................................................................9

INTRODUCTION
Inquiry-based learning can be defined as a learning approach that is primarily
focused on the role of individuals in the process of learning. It is considered to be an
important component of learning as it allows them to share their ideas and thoughts
about a particular topic. This helps them to develop more creativity and continue
exploring the different topics that they are interested in (Anstey, 2017). Organization
chosen for this report is Marks and Spencer, a leading British multinational retailer. The
company sells high quality clothing and household products. It was founded by Michael
Marks and Thomas Spencer in the year 1884 and is headquartered in London, United
Kingdom. The report explains current trends in the retail industry and an analysis of the
chosen company with the help of relevant models. Recommendations for the
organization are also included in report.
MAIN BODY
Current trends in the retail industry
The retail industry is one of the fastest growing industry and includes businesses
that sell finished goods and services to the customers. Different retail businesses can
include departmental stores, convenient stores, grocery stores, supermarkets etc. Over
the years, the industry has continued to grow despite of facing a lot of challenges.
Another reason for this is that the needs as well as preferences of the customers
continue to change from time to time (Applebaum and et. al., 2017). As a result,
companies have to keep adapting themselves to the same. Online retailing has become
a fast-growing segment of the industry. There are various mediums through which retail
goods can be sold to the customers. These can include shops, malls, grocery stores,
supermarkets etc. There are various current trends in the retail industry that have
shaped the retail industry today. Some of the same are described below -
Omni-channel retail strategies – This is one of the most important retail trends
today as the preferences of the customers as well as their expectations are changing.
Also, they are now more digitally driven than before, so it has become important for the
companies to make sure that they provide a seamless experience to their customers.