Retail Management: Strategies for Growth and Success

Retail Management

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1...................................................................................................................................................3
P1 Introduction of retail and company.....................................................................................................3
TASK 2.......................................................................................................................................................4
P2 Identification of changes in fashion retail...........................................................................................4
TASK 3.......................................................................................................................................................6
P3 Identification of alteration within company environment...................................................................6
TASK 4.......................................................................................................................................................7
P4 Strategy and tactic implementation.....................................................................................................7
TASK 5.....................................................................................................................................................10
P5 Recommendations to John Lewis.....................................................................................................10
Conclusion.................................................................................................................................................10
REFERENCES..........................................................................................................................................11

INTRODUCTION
Retail Management is a commercial process which encompasses all the practices that
caters to the needs of final consumers. In this report, concepts of retail management are applied
on John Lewis. John Lewis is a British fashion retail partnership company. It was incorporated in
the year 1864 by John Lewis. The report includes the changes occurred in the fashion retail
industry due to impact of macro environment. The report also includes the impact of micro
environment on functions of fashion retail companies. The report covers the suggestion of
strategies and tactics that could accelerate growth of the firm. Lastly the report includes the
recommendation that can help in combating challenges (Fernie, and Sparks, 2018).
.

TASK 1
P1 Introduction of retail and company
Retail
Retail is a platform through which final customers satisfy their household needs. Fashion
retail refers to the selling of fashion items to customers after adding certain profit margin.
Retailer is an intermediary which renders products and services to the people for household
consumption. Retailer purchases products in bulk from wholesaler and sells in small units with
added profit margin. Retailers are the last intermediaries in the supply chain management of the
business.
John Lewis and Partnership
John Lewis and Partners is a fashion retail firm headquartered in London, United
Kingdom. It is a partnership company came into existence in the year 1864. John Lewis is the
founder of the organization. Company deals in fashion accessories and general merchandise. It is
available in both online and offline format. Company runs its business mainly in two formats that
are traditional departmental store and ‘John Lewis at home’ store. The latter format is
proclaimed in October 2009. John Lewis also established a small store in Airport (Choi, and
Shen, 2017).
TASK 2
P2 Identification of changes in fashion retail
Alteration is the rule of nature. Modern day businesses are different from traditional
business because change in technology, taste, preference, needs and competition. Fashion retail
industry is also a victim of change. Clothes business will never become obsolete because it is
basic need of people. Change will occur in the system of production and design of clothes. It is
essential for businesses to keep them updated and adapt to the changing environment. Companies
with rigid management system and production process are prone to extinction.
PESTLE Analysis
PESTLE analysis is a tool used to study the impact of external factors on the function and
growth of business of a company. This tool helps in devising effective strategy by taking into