Retail Theory and Practice

Retail Theory and Practice
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Table of Contents
INTRODUCTION...........................................................................................................................3
Introduction to retail........................................................................................................................3
Introduction to company..................................................................................................................3
Key relevant changes within the UK fashion retail.........................................................................4
Relevant changes within the micro environment.............................................................................6
Suggest and discuss strategies and tactics that could be used.........................................................7
RECOMMENDATIONS.................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
The term “retail” refers to the sale of commodities or services to individual consumers for
their use. Hereby, several channels of distribution are taken into use in order to earn high profits
and revenue. Within the bounds of modern world, it is seen that retailers fulfil the requirements
and demands of people via the usage of supply chain. The current project seeks to comprehend to
notion of retail theory and practice by selecting Debenhams as the company. The report includes
introduction to retail and the selected company. This project further consists of changes taking
place in UK fashion retail market along with retail environment. In addition to this, the report
covers the issues encountered by the organisation together with the strategies utilised for
bringing up changes into the corporation.
Introduction to retail
The term ‘retail’ is used for the sale of goods and services to customers for the purpose of
consumption by them. In addition to this, retail is the term used exclusively for a service provider
that offers small orders of large quantity to the end users rather than offering large orders of
smaller quantity. In this context, modern retailers undertake several strategic decisions along
with tactical moves such as determining store type, product mix, customer service, market
positioning, target market, support service, after sales services, and so on. Further, it is
ascertained that retail outlets operate in a number of formats as well as contexts like strip
shopping complex, large stores, indoor shopping mall, and many more.
Fashion retail is ascertained to be a part of retail sector that is concerned with
ascertainment of latest consumer lifestyle and market trends, and then undertaking measures to
offer products that can meet the expectations and lifestyle standards of consumers. This is aimed
at gaining high level of contentment from them.
Introduction to company
Debenhams is a multinational fashion retail company which functions in the form of
departmental stores across the whole of the United Kingdom and Denmark, along with franchise
stores in the confines of other nations. This organisation was founded during the 18th century in
the form of a single store within London and has now expanded into 178 stores across the globe.
The company offers a wide array of household articles, furniture, clothing items, etc. In
accordance with the reports of June 2020, this fashion retail organisation owns and operates
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