Retail Theory and Practice: A Case Study of TESCO in the UK Fashion Retail Market

Running head: RETAIL THEORY AND PRACTICE
RETAIL THEORY AND PRACTICE
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Author Note

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RETAIL THEORY AND PRACTICE
Executive summary:
The retail industry is now leading the economy of the country, and in future, it will
emerge as colossal manner. Government is now collecting a massive amount of revenue from the
retail industry. TESCO is one of the biggest retail industries in the UK and has variety of product
variation with numbers of stores. PESTLE analysis of the TESCO reveals that political and
economic factors create some problems for the company, but still, they are able to manage the
market with their large financial backups and experiences.

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RETAIL THEORY AND PRACTICE
Table of Contents
Introduction:....................................................................................................................................3
Company introduction:....................................................................................................................3
Key relevant changes within the UK fashion retail:........................................................................4
Relevant changes within the microenvironment:............................................................................8
Strategies and tactics:......................................................................................................................9
Recommendation:..........................................................................................................................11
Conclusion:....................................................................................................................................11
Reference list:................................................................................................................................13
Appendix:......................................................................................................................................16

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RETAIL THEORY AND PRACTICE
Introduction:
In ongoing economy, the retail market is one of the emerging sectors that need to be
considered in a broader sense. The concept of the retrial industry is not only restricted in selling
goods but also supporting the e-commerce and online revolution. In globally economy, retail
sector already able to make his mark and in all the countries government now supporting the
retail industry to collect a large amount of revenue (Brenes et al., 2015: 244). Revolution started
when ATM, debit card, credit card, plastic money was introduced in the market and people
started to taste the branded products as much as possible (Burt & Sparks, 2003). The possible
outcome of the revolution in the retail industry has been noticed as the increase of the
employment in this sector and for the economy (Frontczak et al., 2015: 45).
Fashion retail industry is one of the demanding industries in the retail market. Expanding
hand of the internet enables the people to interact with the fashion retail market easily, and this is
the reason behind the emergence of the fashion retail (Wood, 2010). Numbers of big branded
fashion companies are now availing the glory of this fashion market and collected the profit
more than earlier (Hesping & Schiele, 2015). Detail description of the retail theory and fashion
retail market will be described in this paper and influence of the micro and macro environment
over the retail industry will be defined for better understanding.
Company introduction:
TESCO, one of the biggest retail brands in the UK has been chosen for this paper. Jack
Cohen founded TESCO in the year of 1919 with the headquarters situated in Welwyn Garden
City, Hertfordshire, England, and United Kingdom (Brenes et al., 2015: 246). TESCO is the third