Retail Theory and Practice- Doc
Added on 2020-10-22
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Retail Theory and Practice
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Overview of company............................................................................................................1Key relevant changes of F&F Tesco considering macro environment..................................1Key relevant changes of F&F Tesco considering micro environment...................................3Suggestions on different strategies and tactics.......................................................................4Recommendations..................................................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8
INTRODUCTIONRetail industry is one of the largest growing and dynamic sector which deals withprocessing of goods. It is also considered as an important area because it helps in making theprocess of purchasing and selling easier for customers (Shin and Eksioglu, 2015). The report isabout discussing fashion retail operations of F&F which is a part of Tesco. Cited firm is focusedon delivering their customers with high quality services. Apart from this they also conductresearch to analyse preference of service users. It also involves various macro and microenvironmental factors affecting processing of functions and operations of F&F Tesco. Therefore,for coping with various conflicts and challenges, different strategies and approaches have alsobeen discussed in the report. The report also discusses some recommending factors that canprove helpful for Tesco in attaining their major objectives and targets. Overview of companyTesco is a leading fashion retailer of UK which is expanded to 12 other countries as well.Considering each store of Tesco in all 12 countries, it has approximately 7,000 stores worldwide.Out of four largest supermarkets, Tesco comes as one within them. With a consistent share ofabout 25%, it makes the size of firm bigger enough. Position of F&F Tesco in the market place isthat it out of one, from four of the popular and leading retailer stores. Although company faced aloss of about 6.4 billion in the year 2014 -2015 but after a few months, firm again started with aboom and since then, it has been successful enough in maintaining their position in the marketplace. As per the statistics, every hour, Tesco initiates purchase of about 8 million. Therefore,techniques and strategies involved in Tesco can be considered as effective enough that they havesuccessfully involved and expanded their operations worldwide. Key relevant changes of F&F Tesco considering macro environmentThere have been various changes in the macro environment of F&F Tesco, so same canbe analysed with the help of Pestle analysis. Different aspects demonstrating impact arediscussed as below:PoliticalPolitical factors play a major role in overall functioning of the organisation. Whether it isabout tax or involvement of different laws, it directly throws an influence on the rate ofprocessing of operations. A well-known example of this can be considered as fact that if in case1
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