Impact of Brexit on UK Retail Industry

Business Research
Project
(Impact upon the UK economy after Brexit)
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Abstract
Main purpose of doing this research is to identify the impact of Brexit on UK economic. In
this retail industry is a selected part of UK economy that have impacted due to Brexit. It is a
main aim of this dissertation and in order to achieve this aim, different number of activities were
completed by researcher. Literature review was done with the use of secondary sources which
are books, articles, magazines, publication research etc. Research methodology is another
activity that was completed by using number of methods such as secondary research, inductive
approach, exploratory research design, systematic literature review, interpretivisim research
philosophy etc. These are main methods that included in research methodology that resulted in
getting of valid outcomes for current study. Research and findings are another activity that was
completed with the use of collected secondary data. This helped in identification of accurate
outcomes and results of the study. Conclusion and recommendation is last part of the study that
was completed by presenting entire information of dissertation briefly.
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Contents
Abstract............................................................................................................................................2
Chapter 1: Introduction....................................................................................................................4
Overview of the Topic.................................................................................................................4
Background of the industry and company...................................................................................4
Research Rationale......................................................................................................................5
Importance of the chosen topic....................................................................................................5
Research Aim:.............................................................................................................................5
Research Objectives:...................................................................................................................5
Research Question.......................................................................................................................5
Sub-questions of research............................................................................................................5
Overview of the structure of dissertation.....................................................................................6
Chapter 2: Literature review............................................................................................................8
Explain about the concept behind the term Brexit?.....................................................................8
How Brexit impact on sales within UK retail industry?..............................................................9
What are the impacts does Brexit upon overall growth of UK retail industry?........................10
What are the implications of Brexit on the UK retail industry?................................................11
Chapter 3: Research Methodology.................................................................................................13
Chapter 4: Research and findings..................................................................................................16
Theme 1:-Explain about the concept behind the term Brexit?..................................................16
Theme 2:- How Brexit impact on sales within UK retail industry?..........................................17
Theme 3:-What are the impacts does Brexit upon overall growth of UK retail industry?........19
Theme 4:-What are the implications of Brexit on the UK retail industry?...............................20
Chapter 5: Conclusion and Recommendation................................................................................22
REFERENCES..............................................................................................................................25
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Chapter 1: Introduction
Overview of the Topic
Brexit is the withdrawal of the UK from the European Union. It is an acronym for the word
“British exit”, similar to “Grexit” that was applied for numerous years to introduce to the
chances of Greece leaving the Eurozone. Brexit introduces to the chance of Britain moving back
from the European Union. The nation will hold a referendum on its European Union membership
on June 23. Brexit has direct impact over growth of UK retail industry. Britain’s retailers
suffered from decrease sales last month as mounting uncertainty over the United Kingdom
departure from the European Union led to consumers becoming more wary of making bigger
purchases before Brexit (Aguzzoni and et. al., 2016).
Brexit is recognized to be a British live from the EU that is one of the main decision
made by United Kingdom which bewildered the UK economy very poorly. This has a large
effect on the economic and social factors or attributes of the nation. It also influenced the
industries or business because the income level of people get impacted which in turn impacted
their buying behaviours or decisions that leads to a reduced sales and profitability of an
organisation. Apart from this, Brexit has also impacted the trade practices and operations of
business, so that they get performed and do their business operations or functions with other
nations. As most of its trade flow is being carry out with European Union country in excess of a
free trade agreement amongst them because of its membership with European Union (Alfano,
Dustmann and Frattini, 2016).
Background of the industry and company
This report is based on UK retail industry that is largest private sector employer with
around million workers. The retail industry is fundamental to the economy of United Kingdom
because in year 2018 they generated £381billion worth of retail sales (Anderson and Wittwer,
2017). Retail is the sale of goods and service to the public or society for use of consumption,
before for resale. It encompasses department stores, shops, market stalls, supermarkets, internet
retailers and door-door-to salespeople. Marks & Spencer is a chosen retailer for this dissertation
that was founded in year 1884 by the Michael Marks and Thomas Spencer and headquartered in
London, England, UK. Company mainly specialise in selling of clothing, food products and
home products.
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Research Rationale
Main rationale behind selecting the topic or research is to identify the impact of Brexit on
overall growth of retail industry that is a part of UK economy. There are other different reasons
behind selecting this topic as with the help of this, researcher can easily develop their knowledge
about the Brexit and its impact on sales of UK retain industry. They also know about its impact
on growth of Retail sector and also analysing implications that will be beneficial in overcome of
Brexit impact over them. Therefore in order to carry out research about the Brexit’ impact on UK
economy, this dissertation is being performed.
Importance of the chosen topic
This topic holds significance because it will assist in identifying the areas that being
impacted by reason of Brexit which take changes to the UK business and also trade it perform
(Banerjee and Mio, 2018). Additionally, this will also assist in signifying industrialist regarding
what are some bad effects that an enterprise faced or may face as a result of Brexit so that
suitable strategies or practices can be implemented in advance to address with such type of
changes in effective manner. Along with this, this research will also helps UK business in
identifying the advantages that they can gain after this Brexit with purpose to enhancing their
business growth and performance easily.
Research Aim:
To identify the impact of Brexit on overall growth of UK retail industry. A study on
Marks & Spencer.
Research Objectives:
 To determine the concept behind the term Brexit.
 To identify the Brexit impact on sales within UK retail industry.
 To identify the Brexit impact upon overall growth of UK retail industry
 To determine the implications of Brexit on the UK retail industry.
Research Question
 What are the impacts of Brexit on overall growth of UK retail industry?
Sub-questions of research
 Explain about the concept behind the term Brexit?
 How Brexit impact on sales within UK retail industry?
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 What are the impacts does Brexit upon overall growth of UK retail industry?
 What are the implications of Brexit on the UK retail industry?
Overview of the structure of dissertation
This is an important and main part of the dissertation that helps reader in identification of
structure of report. There are number of chapters that have been included for completing full
dissertation in systematic manner. All these chapters apart from their will be explained as below
in clear manner:
Chapter 1: Introduction: This is a first part of the dissertation that includes entire detail
about the report such as research aim, research objectives, research questions, overview of the
topic, rational of the research etc. All these are main aspects of introduction chapter that will be
essential for reader in determination of this chapter. Main purpose of this chapter is successfully
development of research aim and objectives because other next chapters are based on them
(Bloom and et. al., 2019).
Chapter 2: Literature review: This is second chapter that includes secondary data gathered
from the different number of sources such as magazines, books, journals, articles, publication
study etc. Main purpose of literature review is to find out research gaps in previous studies. By
analysing this, researcher can easily fulfil this gap by following research questions.
Chapter 3: Research methodology: This is another and main chapter that includes number
of methods, tools and techniques of data collection and data analysis. These methods are;
research philosophy, research approach, research strategy, research design, research ethics,
secondary sources of data collection etc. All these are useful methods that will be applied for
carrying out this investigation in systematic manner. Main purpose of research methodology is to
collect data from the different methods and gain valid outcomes for research.
Chapter 4: Research and findings: This chapter is correlated with the literature review
because in this chapter, researcher find out outcomes that are based on secondary data gathered
for literature review. Main purpose of this chapter is to find out and discussed secondary data
effectively and systematically.
Chapter 5: Conclusion: This is another chapter that is important and necessary for doing
any type of dissertation. This chapter includes entire information of dissertation briefly that helps
reader in identification of outputs and aim of the research is achieved or not.
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