Career Development in Retail Industry
Added on 2021-02-19
11 Pages1954 Words426 Views
Leadership ManagementProfessional Development
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Career Viewpoint
Table of ContentsINTRODUCTION...........................................................................................................................1ANALYSIS AND APPLICATION.................................................................................................1General trends which will impact on the Retail industry.............................................................1The skills, knowledge and experience required...........................................................................3EVALUATION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONIn this advancing and modern life, every individual is choosing their unique profession inorder top bring something new within this community. As soon as the students become graduate,they start planning for their future goals and career development plans in order to earn thelivelihood in order to fulfil individual requirements or their family needs. This report will coverthe recent trends which impacts on the retail industry. Although this report will also provide theskills and qualification and experience which is required for the post of HR-Marketing withinthe retail sector industry. Moreover, in order to proceed in such future oriented thoughts and career developmentplans, I have completed my graduation MBA in HR.-marketing. So I want to see myself at thepost of the HR.-Marketing within most popular retail sector industry within next 5 years.ANALYSIS AND APPLICATIONGeneral trends which will impact on the Retail industryThere is a huge advancement in the Retail industry within few years as the evolution ofthe technology has rapidly transformed the way in which goods and services are offered tocustomers. Along with this, recent trends in terms of information and technology have influencedthe customers to consume the services from the retail industry (Bamfield, 2018). Due to the suchchanges within the society, the retail industry has undergone a significant transformation over thepast decade which continues to evolve quickly. There are huge trends and advancement withinthe market which leads to the great impact on the retail industry. Such trends which impacts theretail industry are as described below:E-commerceIt has become one of the most popular shopping medium all over the world which can beconsidered as a recent trend within the retail industry. Along with this, online market have beenexpanded and developed its strong presence in this real world. Also, exchange of goods andservices online have become more easier for the customer and thus it have gained a strongpopularity within a short period of time. However, this trend have not only provides the flexiblemarket and easy approachability to the customers but online shopping also provides the option ofcomparing the prices and quality of the goods with other retailing brands (Nalawade, More andBhola, 2019). This provides the ultimate satisfaction among the customers so the retailers are1
seeking to differentiate themselves who have found other avenues to deliver the values to theircustomers. E-commerce leads to huge negative impact on the HR.-Marketing profession as allthe social media and technology have promoted the concept of promotion and marketing whichrequires less human efforts. Also employee which is hired at the position of HR.- marketingconsumes huge salary as compared to the marketing via technology (Sotiriadis and Varvaressos,2016). Therefore, it requires the huge technical as well as IT skills to operate such softwarewithin the Retail industry.The rise of the Experimental retailAs traditional method of selling the goods and services to the customer restricts them topurchase the products. Although, in old model where the goods are available at store sosomehow retailer convinces the customer to buy the goods among such available products byproviding the substitute. However, the technological improvement have offered the hugeopportunities to the new entrepreneur in the market (Nguyen and Simkin, 2017). So it haveincreased the competition among various retail industries within the market as new entrantscome up with the new ideas and innovative concepts which are largely supported by theconsumers. New trend of the Online stores have supported the ideas as well reduced the cost ofthe physical store availability which raise huge operational costs. Therefore, it leads to the greatimpact on the HR.-Marketing position as it online marketing does not require any extra skills andalso it consumes the minimum costs.The Rise of the Subscription E-commerceToday the Buyers are increasingly seeking the shopping which is tailored to theirpreferences and delivered directly to their doors. Therefore, the deriving the maximumprofitability via software programs, these trends have resulted in the emergence of thesubscription E-commerce. So the trend goes hand in hand with the users. This have largelyimpacted on the position of the human resource Marketing director in which technology has allthe power to perform all the marketing functions within a one click. This is largely a result of thechanging methods in which the consumers employ to make shopping decisions.Improved customer servicesAlthough, the growth and advancement of the industries has leads to the Globalisation ofthe various popular brands within the international market (Purvis, 2015). Also technology oronline survey allows the organization to identify the countries marketing trend as well as2
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