Retail Theory and Practice

Retail theory and Practice

Table of Contents
FORMATIVE ASSESSMENT........................................................................................................1
SUMMATIVE ASSESSMENT.......................................................................................................2
Introduction to retail....................................................................................................................2
Introduction to the company.......................................................................................................2
Relevant changes in UK fashion retail........................................................................................3
Relevant changes with micro environment.................................................................................4
Strategies and tactics which could be used.................................................................................5
Recommendations.......................................................................................................................6
Conclusion...................................................................................................................................6
REFERENCES................................................................................................................................7

FORMATIVE ASSESSMENT
The retail concept is an idea which examine the evolution and transformation of retail
life cycle, also the new retailer will typically start with low cost and low margin operations and
after analyzing the need of customers, company start offer the product. While on the other side,
fashion retail industry is that section of a business which work as an intermediary between
manufacturer and customers. Thus, it is a process of buying clothes from manufacturers and then
sell them to customers as well. As per the current situation, fashion retail industry contribute the
best in order to enhance the GDP.
The study will uses Marks and Spencer (M&S) for the study because it is one of the top
retail firm in UK who work under different sector such that baby product, clothes, groceries and
furniture etc. Currently the company is operating in more than 1400 places and also consider one
of the strong brand among all retail firms. Or else, if it does not work, Debnhams is another
multinational firm which will be chosen because it is also deal with in retail sector and offered
the product such that fashion clothing, shoes, toys, accessories, cosmetics and many more.
There are some macro environment factor which creates direct impact upon fashion retail
such that Political, social, technological, environmental and legal factor which affect the
business externally and this in turn also cause positive and negative impact upon business. While
on the other side, suppliers, employees human resource and plans and policies of a company are
consider some micro environment factor which will also affect the fashion retail sector in both
opposite and positive manner. In the project, relevant theories and models are also applied which
in turn assist to meet the define aim. Such that Pestle analysis is used which is a macro
environment analysis that help to determine the external factor who affect the fashion retail.
Also SWOT analysis is also used in which internal factors are determine that support or affect
the business working under retail industry. While by consider some factor from macro analysis,
Wheel of retailing theory is applied in which pattern of retail development is analyzed. Such that
elaborate premises and facilities, move market in order to examine the pattern of retail sector.
So, by using theories and models which assist to support the discussion and also generate the
best outcome which in turn help to meet the define aim as well.
For completing the project in better manner, effective resources are selected such that the
entire study is based upon secondary study and that is why, relevant articles and books are
selected which are published latest in order to determine the results and gain the knowledge with
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