Current Trends in Retail Industry

Inquiry project

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
CURRENT TRENDS IN RETAIL INDUSTRY.............................................................................1
Retail industry trends which prominent research...................................................................1
ANALYSIS OF BOOTS.................................................................................................................3
Covered in Appendix 1...........................................................................................................3
RECOMMENDATION...................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6
APPENDIX 1...................................................................................................................................7
APPENDIX 2...................................................................................................................................9

INTRODUCTION
Retail industry is an industry that produces the large amount of goods and services that will
be produced for the customers. Retailers more often get collect their products from the
manufacturers as well as to convert the commodity into finished and furnished goods. The
retailers also get collects their products and services from the middleman known as distributors
or the wholesalers as well. The retailers are the one that purchase the large number of diversified
range of products from the wholesalers and then furthermore sale out that products in the market
or to the customers. It was a basically a business that will perform their work in between the
customers and the wholesalers and provides the required amount of goods to the customers as
per their demand. The retailer generate their profit by providing the continuous supply of all
products and services that are in demand and used by the business to ensure that necessary and
required item will get provided to the customers (Barata, 2018). Retailers conduct the market
research to make better understanding of the market and then make the effective utilisation of all
the required products by maintaining the appropriate supply chain. This report is based on the
TK MAXX as it is a store chain as in American department and have sale the product with fewer
prices as compare to other competitors store. There have more than 1000 number of stores all
across in US and it is the largest clothing retailer in US. This report includes the recent trends
that are followed by the retail industry that is measured with the help of secondary research. In
this the questionnaire will be used to gather the primary data in market analyse the TK MAXX.
In addition to this there are some recommendations on the basis of analysis.
CURRENT TRENDS IN RETAIL INDUSTRY
Retail industry trends which prominent research.
Retail industry has the broader business and generates different market opportunities for the
business to develop the higher interest of the employees. They have worked with the creative
ideas and with that provide the better care to the customer in terms of new products and services
that are good for their living standard and health (Campbell, 2018). As per in today’s scenario
that retailing industry of UK has gone through with the different fluctuating and uncertainties
that are generated to the random effect that has been raise after the Brexit as it has huge negative
impact on the scale of economy. While in recently the COVID-19 is being the most unfavoured
symptom that stops the economic generation of all across the world and it doesn’t have its impact
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on certain places, regions or country but it has been covered the whole world. It has affect the
transaction or transformation of all across the world the economy will have banished out with the
biggest slow down. In order to get favour the precaution from the COVID-19 it is must that the
people will maintain the social distancing and doesn’t meet to the new people and every
individual locality is bounded out with full precaution and that is done to provide the safety
measure to the people (Chan, 2018). The retailing industry of the UK and the entire world will
get unconstructively affected but having some positive impact as well that the environment
pollution becomes less and climate become cleaner. The working condition and the culture is
getting most effected and by that they will get more unpredictable changes by that the economy
will get fluctuate and with that the business will get make the speedy and reflective changes to
get over from the adverse impact. There are some of the different trends that are followed by the
retailing industry and that are as follows below as:
 Information focused retail- The retailers are having generate more opportunity from the
market and also collects a lot of opportunity from the market as well. The retailers must
get provide the different values and data to the customers and collect the data from the
market and then provide and manage the adequate supply in beneficiary manner. They
will develop and create different opportunity in the favour of the customer by which they
get the best product with appropriate prices. By which the customer get more satisfaction
to they get more valuable products with differentiate services. The different data will get
measured and by which they will get more connect with the different accuracy to develop
the better objective to analyse the better delivery by which the value will get more
curtained (Denisoff, 2020). The current trend in the retailing sector is more vulnerable
and thriving by which the better source will get generate thus retailing industry develops
more certain strategies by using the different special tactic to get better generation. Thus
the anticipation of the customer will get transformed and in that the need of the public
will get developed with better adequacies. The different businesses will have developed
the different services to the customer in unique and creative manner by which the demand
gets contented.
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