Retail Theory and Practice

Running head: RETAIL THEORY AND PRACTICE
Retail theory and Practice
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RETAIL THEORY AND PRACTICE2
Executive Summary
This report focuses on retail marketing in the context of retail fashion organisation. Burberry
has been chosen as the organisation. The external environment of the retail fashion industry
has been evaluated. It has been observed extreme uncertainty in the political environment is a
prevailing issue, affecting the fashion industry a lot. At the same time, due to Brexit the
degree of economic uncertainty is increasing rapidly, which is affecting the buying behaviour
of the customers. Maintaining sustainability in running business is also a key issue in the
contemporary times. This is which is putting extreme pressure on the firms to run their
business in an environmental friendly manner. However, from the macro environmental
analysis, it is evident that the degree of competition is extremely high in the retail fashion
industry of UK. Therefore, comprehensive strategies have been suggested for Burberry,
through which they can acquire competitive advantage.

RETAIL THEORY AND PRACTICE3
Table of Contents
Introduction:...............................................................................................................................4
Introduction of the company:.....................................................................................................4
Key changes in the fashion retail market of UK:.......................................................................5
Analysis of the macro-environmental factor in the fashion retail industry of UK:...................8
Discussion of the strategies and tactics that could be used:.....................................................10
Conclusion & recommendation:..............................................................................................12
References:...............................................................................................................................14

RETAIL THEORY AND PRACTICE4
Introduction:
In the highly volatile business environment, appropriate retailing plays a major role in
promoting the national economy of a country. This paves the way for the customers to access
multiple options before framing their purchasing decision. The retailers play a major role in
building strong relationship in between the manufacturers and final customer. Accortding to
Yu et al. (2014) retailing is defined as one of the most convenient and comfortable methods
of selling goods and services and thereby keeping the customers happy and satisfied. It is
imperative to note in this context that, with the assistance of retailing a strong distribution
network can be created, which is the key of enabling the customers to access their desired
products in a timely and cost effective manner.
Fashion retailing is the way of marketing fashion related products and thereby
keeping the customers delighted. Fernie and Sparks 2018) showed that the condition of UK
fashion retail industry is extremely volatile and competitive due to the existence of wide
range of companies such as H&M, Marks & Spencer, and Burberry. Present paper will put
forth the discussion the UK fashion retailer. Burberry has been chosen as the organisation.
The condition of fashion retail industry of UK will be evaluated. The strategies, which are to
be followed by Burberry in order to gain long term success from business will also be
presented in this report.
Introduction of the company:
Burberry Group PLC is one of the largest British fashion house in UK, with multiple
stores across the country. Established in 1856, the company offers multiple products such as
fashion accessories, ready-to-wear outwear, sunglasses and different types of fragrances. In
addition, Burberry also serves cosmetics products. The main focus of the firm is to improve