Retail Industry Trends, Company Analysis, and Recommendations Report

This report delves into the dynamic landscape of the retail industry, exploring current trends such as personalized retail experiences, omnichannel strategies, the rise of e-commerce, eco-friendly products, physical stores for digital brands, and augmented reality. The report then focuses on Marks and Spencer, providing a company background, a SWOT analysis, and an assessment of its performance against the identified retail trends. The analysis highlights the company's strengths, weaknesses, opportunities, and threats, as well as its adoption of market trends. Finally, the report offers strategic recommendations for Marks and Spencer, including increased customer engagement, market expansion, employee empowerment, and continuous monitoring of business processes to enhance its competitive advantage and ensure sustainable growth in the evolving retail sector.

Inquiry Based Learning
(Business)

Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
Retail Trends...........................................................................................................................................3
Analysis of Marks and Spencer...............................................................................................................5
Recommendations...................................................................................................................................6
CONCLUSION..........................................................................................................................................8
REFERENCES..........................................................................................................................................9

INTRODUCTION
Inquiry based learning can be defined as an approach to learning that mainly focuses on
the overall role of the student in the learning process. This type of learning involves the teacher
not telling the students what to do and rather encouraging them to share their ideas as well as ask
questions (Akuma and Callaghan, 2019). Organization chosen for this report is Marks and
Spencer, which is a multinational British retailer of household as well as clothing products
(Cairns, 2019). The company was founded in the year 1884 by Michael Marks and Thomas
Spencer and is headquartered in London, United Kingdom. The report explains the different
trends in the retail industry along with the background of the chosen company. It also includes a
SWOT analysis of the company based on the primary data. Lastly, the analysis of the company
against retail trends as well as the recommendations are also included in the report.
MAIN BODY
Retail Trends
Industry Data and Literature Search
One of the fastest growing industries, the retail industry has transformed to a great extent
over the last few years. Retail basically includes how do producers sell their goods as well as
services to the customers in the market. The retail industry in the UK is one of the largest
employers within the company and thus, contributes to the overall economic development of the
nation to a great extent (Chen and Yang, 2019). Different retail products can be sold to the
customers through different mediums such as malls, shops, departmental stores etc. In the United
Kingdom, the retail sector offers employment across customer services, retail management,
distribution, visual merchandising, warehouse, logistics as well as supply chain. It can be said
that the retail industry is a fast growing as well as a pressured growing environment that is
majorly focused on making profits as well as satisfying the needs of the customers.
Trends in the Retail Industry
As a result of many factors, the retail industry is experiencing a massive amount f change
in its operation. Not only this, but the behavior of the consumers is also changing with their
overall expectations getting higher. Keeping this in mind, it is important for the retailers to

understand the different trends of the industry in order to make sure that their businesses are
successful as well as sustainable. Some of the trends of the retail industry are described below -
Personalized retail experience – This is an important trend of the retail industry wherein
the company can offer products to the customers based on their expectations as well as
preferences (Herodotou, Sharples and Scanlon, 2017). In other words, it can be said that a large
number of retail organizations are offering customized products as well as services because with
this, they can attract a greater number of customers.
Omni channel retail strategies – This is another trend of the retail industry wherein the
customers can view the products that are offered by the company on their mobiles and easily
complete the purchasing process. This trend can help the company in attracting a greater number
of customers.
Rise in E-commerce – In this particular trend, it is important for retail organizations to
strengthen their presence across different social media platforms such as Instagram, Facebook as
well as Twitter. Therefore, companies are offering their products as well as services through
different social media platforms, their application as well as online website.
Environment friendly products – Customers are increasingly becoming aware about the
environment as well as the different activities that harm it (Karademir and Akman, 2019). Due to
this, the companies are adopting different eco friendly ways of offering their products. The
products are sustainable and this has helped organizations in attracting new customers.
Physical retail stores for digital brands – There are several brands that operate online,
but recently, the trend of physical stores has taken over the industry. In this trend, many retail
brands that operate online, are now opening their physical retail stores in order to serve the needs
of the customers in an enhanced manner. As a result, there is an increase in the overall sales of
the companies.
Augmented Reality – Also known as machine learning, augmented reality has become
an important trend within the retail industry. A lot of retail organizations such as Amazon, have
adopted augmented reality in order to provide the customers with an enhanced experience while
shopping for their desired products. For example, customers can use the feature in order to
develop a better understanding about the products , if they will be effective for their home or not.

Therefore, these are some of the recent trends within the retail industry that many
companies are adopting in order to reach out to an increased number of customers as well as
serve their needs in an effective manner. Not only this, the trends can also help the companies in
gaining a competitive advantage against competitors in the market.
Analysis of Marks and Spencer
Background of the Company
The respective company, Marks and Spencer is one of the leading retailers that sells
household as well as clothing products (Kolstø, 2018). The company was founded in the year
1884 by Michael Marks and Thomas Spencer and is headquartered in London, United Kingdom.
Most of the products that are sold by the company are under its own brand name. The respective
company has been able to gain a competitive advantage in the market by selling products that are
of the latest trends as well as high quality. Marks and spencer also sells its own brand foods,
clothing as well as household products both through its retail stores as well as through its
website. In the United Kingdom, the company has nearly 900 stores along with many other
stores across the different geographical regions (Marks and Spencer Group Plc, 2021). The
company has a large base of customers that are loyal to it. The mission of the company is to
make aspirational quality products available to everyone through the depth as well as range of its
products.
SWOT Analysis of Marks and Spencer
Strengths – One of the major strengths of the company is that it has a strong brand image
and is also recognized widely by the consumers (Kotsari and Smyrnaiou, 2017). Apart from this,
Marks and Spencer sells products that are of high quality and also, a large variety of products are
offered to the customers.
Weaknesses – Lately, the company’s financial performance has not been up to the mark.
Also, the company highly relies on the UK markets for its overall sales. The company does not
have latest technology implemented.
Opportunities – The company has a great opportunity of expanding its business in
developing markets. It can also strengthen its online presence across different platforms such as

Facebook, Instagram as well as Twitter. Besides this, the company also has the opportunity of
launching new products that are not sold by any of its competitors.
Threats – There are also certain threats that can affect the overall performance of the
company. For example, intense competition from the existing brands can act as a threat to the
overall performance of the company (Linvill and Pyle, 2017). Apart from this, changing trends in
the retail industry can affect the company’s performance as well as profitability to a great extent.
Therefore, it is important for the company to adopt appropriate measures in order to stand out in
the market.
Performance of the organization against industry trends
Marks and Spencer is one of the leading and widely recognized retailers in the world that
has a large and loyal customer base. Although, the overalls ales of the company have dropped in
the recent years, the company is still focused on innovating its products as well as services in
order to capture the attention of a large number of customers. It can be said that being an old
brand, the company has maintained a steady performance in the market. The company has
adopted different trends in the market that have not only helped it in attracting a greater number
of customers, but also satisfy their needs in an effective manner (Lynott III and Bittner, 2019).
The company has strengthened its presence on different social media platforms that have allowed
it to interact with its customers as well as develop an understanding of their needs as well as
preferences. Apart from this, the company has also implemented the latest technology at its
stores to provide a seamless shopping experience to the customers. Therefore, it can be said that
the company’s performance against the industry trends has been effective. There are different
trends in the market because customers are always on the look out for new as well as innovative
products. Thus, the overall analysis of the company suggests that the company’s performance in
the market against different trends is satisfying because it keeps on innovating its products as
well as services from time to time.
Recommendations
Organizations aim at building a business that is not only profitable, but sustainable as
well (Mohammed and et.al., 2020). The respective company, Marks and Spencer is focused on
fulfilling the needs of its customers in an effective manner. If the company wants to gain a
competitive advantage in the market, it is recommended to increase its overall engagement with

the customers. This can be done by expanding its presence across different social media
platforms. This will help it in capturing the attention of an increased number of people as well as
serve their needs in an effective manner. apart from this, the company is also recommended to
offer discounts to its customers. There are various developing markets that the company can
expand in. Therefore, the company is recommended to start its operations there in order to
increase its overall share in the market.
The company is suggested to clearly define its goals as well as objectives to the
employees. This will provide them a clarity about their respective roles as well as responsibilities
within the workplace. It is recommended that certain steps should be followed such as the
employees should be encouraged to share their views as well as thoughts during the decision-
making process. This will improve their overall morale and thus, make them feel more confident.
As a result, they will work more productively and help the company in achieving its
organizational goals as well as objectives in an effective manner. Apart from this, it is also
important to set milestones so that the employees are motivated to reach them. This is not only
beneficial for the company, but for the employees as well. Any important decisions that are made
by the managers as well as leaders of the company must be shared with the employees so that
they get a feeling of belonging to the company. Continuous monitoring as well as review of the
different implemented strategies as well as business processes should be done so that any issues
or risk can be identified. They should be rectified or addressed accordingly.
Apart from this, another important recommendation that can be made for the company
can include launching various new products that are in sync with the latest trends. This helps in
attracting a greater number of customers as well as innovative ideas. This will encourage the
customers as well as other people who might be interested in buying the company’s products. As
a result, the company is able to stay relevant in the market and gaining a competitive advantage
against other players. Social media can act as a great medium for the organization to reach out to
its customers as well as analyze the overall performance of its competitors. It is also endorsed
that the company opens new shops in markets that it has not yet tapped to differentiate itself
from others within the retail enterprise (Schalk and et.al., 2019). The distribution as well as
conversation channels must additionally be elevated so that any message regarding a brand-new
product being released or offers can reach to the clients in a powerful manner. As a result, the

company will be able to gain a competitive advantage in the industry and also improve its overall
performance. Thus, these are some of the recommendations that can be made for the respective
company.
CONCLUSION
From the above report, it can be concluded that the retail industry is one of the largest
employers within the United Kingdom. These trends can affect the overall performance of an
organization to a great extent. Also, the concept of inquiry-based learning has gained popularity
over the last few years. Companies that operate in the retail industry have adopt certain measures
in order to enhance their overall performance. a SWOT analysis can be used by organizations in
order to identify their strengths, weaknesses, opportunities as well as threats. This further helps
in making informed decisions as well as strategies for the future. As a result, organizations can
gain a competitive advantage in the market and stand out against competitors.

REFERENCES
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in Science Education, 14(2), pp.154-169.
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Modelling on Geometrical Optics in a Constructionist Environment. European Journal of
Science and Mathematics Education, 5(1), pp.14-27.
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Online
Marks and Spencer Group Plc. 2021. [Online]. Available through:<
https://www.reuters.com/companies/MKS.L>.