Trend Analysis and SWOT of Tesco in Retail Industry

FY028 Inquiry based learning

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Trend in retail industry................................................................................................................3
Analysis of an organization.........................................................................................................4
Recommendation.........................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
In the current era, most of the business are focused upon range of key aspects that helps
business to remain competitive. Further, the present study is based upon Tesco which is one of
the top international firm that offer range of grocery and clothes to their customers. Also, study
will shed a light upon the trend that affects retail industry and determine effective ways to remain
competitive. Also, report will analyze the organization and recommend the bet ways through
which company can remain more competitive in the market.
Trend in retail industry
In the recent times, retail industry is going through an enormous amount of change and
customer behavior is also changing, so to meet the demand there is a need to understand the
trend that helps to make businesses successful in market. These trends are as mentioned below:
Provide personalized retail experience: It is one of the most influencing trend that affect the
customer behavior, so to meet the same, there is a need to provide personal shopping experience.
retailers also create a personalized experience through simple services (Zhu and Gao, 2019). This
chat bot further increases the customer engagement and improve the customer experience as
well. That is why, rise of personalization in a retail industry assist to promote the innovative
technologies like Artificial intelligence.
Embrace the digital mobile wallet: It is another trend that provide better customer
experience such that retail industry trend is all about the use of mobile as a payment method and
certain retailers also caught into a retail industry trend and provide a seamless mobile payment.
This assists to provide flexible payment method like mobile payment and also provide an
opportunity to customers in order to enjoy the flexible payment method.
Fast deliveries: It has been identified that majority of the customers prefer to invest into
different online mode where they expect to deliver the products online and with fast mode. It
also seem like customer expectation for shipping times actually getting faster and that is why,
their interest towards this products increases (Huang and et.al., 2019). Hence, the secondary
study entails that all the business i.e. 51% of the online companies are actually offered same day
deliveries and that is why, it assists to generate the better outcomes.