Retail Industry Career Report: Analysis, Application, and Evaluation

This report provides a comprehensive analysis of the retail industry, examining its current trends, challenges, and opportunities. It explores the various roles within the sector, emphasizing the skills and qualifications necessary for success. The report highlights the changing landscape of retail, includi...Read More

Career viewpoint

Table of Contents
INTRODUCTION...........................................................................................................................3
ANALYSIS AND APPLICATION.................................................................................................3
EVALUATION................................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1
APPENDIX-A..................................................................................................................................2

INTRODUCTION
There are various skills and knowledge required to pursue a career and skills varies from
profession and industry. The aim of this report is to conduct research of the industry in which I
want to create my career or my area of interest. So, based on my interest, knowledge and skills I
would like to start my career in the field of retail. This report includes complete research about
the changing trends in the industry, opportunities available, challenges and threats currently
facing and the skills or an experience required in that industry.
ANALYSIS AND APPLICATION
Industry Overview
The retail industry is all about how the producers of the product and services can sell
their products to the consumers through retailers (Smith, 2017). Retail is vital to every industry
ranging from electronics and machinery to food and fashion industry. Thus, working in any one
industry will help in grabbing skills and knowledge which can be utilized in other industries or
working in diversified sectors (Pantano and Timmermans, 2019). The retail industry is UK is
changing at the very high speed and which can pose as a threat as well as opportunities to the
businesses. This industry is the largest private employer with almost 3 million workers. It has
generated 381 billion worth of retail sales in the year 2018. Retail is a big industry and provides
employment in different areas such as customer services, online retail, retail management, visual
merchandising, warehousing distribution, merchandising and allocation etc. The major graduate
employers in UK are Amazon, Apple, Marks & Spencer, Tesco, Asda, BMW group, Morrison,
Sainsbury etc. Graduate entering the retail sector can expect the varied working environment
which includes retail branches and distribution warehouses (Hajy Alikhani and et.al, 2019). Also,
this industry pays highest to any graduate with an average of £30000. It also gives opportunity
of foreign travel as per the job role. It involves a lot of pressure as it is focused on increasing
sales and generating profits. Another benefit is the most of the company workers enjoy the
discounts.
The year 2019, has been the worst year because of slow rate of growth which was largely
driven by Brexit. The industry faced lot of uncertainty in respect of job loss of 85000 and 9169
store closures (Mogaji and Danbury, 2017). Even after this, there has been an increase in online
sales which is about 21% of total sales. Also, there has been a rise in activism among millennials

and Gen Z. all these factors will be having huge impact on the consumers which may last for a
decade ahead.
The major changing trends in retail industry is the sustainability paradigm shift and the
increasing demand from consumers for sustainability has incurred the need for retailers to
become more sustainable (Keay and Iqbal, 2018). Second is the re-invention of retail which
includes the in-store and digital channels to come together to work on the customer experience in
order to enhance it. Third is the purpose, currently, the purpose is as important as getting digital.
Retailers have started putting purpose at their business has to rethink about it and define it's
model (Retail Trends 2020. 2020). The major challenges this industry is prone to is the up-
gradation of technology and the ongoing shift to online platforms. These factors have affected
the traditional methods of retailing. But technology has actually helped in number of ways. It
includes better analysis, effective management system, proper management of inventory and also
helps in retail planning based on the analytics report.
Qualification and skills required
Not every job in retail requires degree but as the industry grows there is a demand for
highly skilled employees and having a degree will be beneficial. For example for entering into
retail management and buying and merchandising there is no requirement of a degree although
having an undergraduate degree will help in standing at better position. To get the role of store
manager, business studies and retail management degree is essential and a degree in fashion will
also be preferred for aspiring buyers. For retail merchandisers, bachelors in accountancy,
finance, business, maths, economics will be preferred. At last for visual merchandising, a degree
in arts and design is beneficial. The major downside in retail depends upon the role. Usually, the
working is are fixed but sometime employees are required to work for extra hours or even on the
weekends as the requirement of role. For example, if the job is customer facing then such
situations will come across number of times.
The key skills required to by the graduate to be successful in retail sector are divided into
two, that is personal skills and professional skills. The major personal skills required are stated
below.
Problem solving: This skill is required in every job as problem arises in every job and
employers value people with problem solving capabilities as it results in effective decision

making. Such people have good personality which is required in retail sector as they people have
to deal with customers on daily basis and that too face to face.
Flexible: Employers usually hire those who demonstrate reliability and trust worthiness.
Flexible employees can easily adapt to the changes and works beyond their scope. A flexible and
dependent employee always tend to help other colleague. This skill is very much essential in
retail sector especially in in-store work.
Self motivated: The employees usually seeks those candidates who are self motivated,
passionate and positive about work. Such employees put their all efforts to do their work and
always learn from their mistakes. Such employees tend to work with more enjoyment as
compared to those who work for money. The self motivated employees are high in confidence,
productivity, energy and dedication and all these skills are very much important in retail sector
and are highly preferred.
Communication: A good and effective communication is very essential for the all the
positions in retail industry. People in retail are required to be effective in the communication as
they have to speck to customers, other employees and employers. It also includes active listening
which is very essential when working with customers in order to understand their needs and
helping them to the best.
Interpersonal skills: The working in retail involves constant interaction with the
customers and others like colleagues, employers etc. Employees in retail is required to put a
friendly and smiling face and requires to be patient while dealing with the customers. Specific
interpersonal skills are flexibility, teamwork, positivity, friendliness etc.
Some key areas of knowledge and expertise required in retail are:
Customer service: This is the most essential skill in retail. It requires to be positive and
friendly to provide help to customers in resolving any issues they are facing.
Sales skills: To be a good retailer selling the products. The retail worker is required to be
have persuasive skills in order to convince the customers to buy the products. The employee
needs to have proper knowledge about the product which will help in easily marketing and
selling the product.
Computer skills: The every retail jobs involves some use of computer or digital devices
so it becomes important to have some knowledge in the filed which will be helpful while

applying the job. No matter what the job is in retail, knowing how to use computer will be of
great help.
EVALUATION
Based on the above industry analysis and skills and knowledge required in retail industry,
the job I would like to apply is Merchandise Administrative Assistant (MAA) (Retail
merchandiser. 2020). This profile best suits my interest because it will provide me with number
of opportunities as I will be responsible for planning product ranges, stocks, maintaining the
proper records of data, managing and training the new staff, working closely with other teams to
carry out the plans, gathering information on the customers, building awareness of the
competitor's move etc. Other than graduate training and apprenticeship, many organizations
provides on-the-job training to develop the skills (Retail. 2020). It mostly requires working from
office. This position is the junior level for the fresh graduates who wants to make career in retail.
This profile varies between organization and also based on experience and qualification.
Companies often have a competency development programme which assist the MAA to qualify
for the next level called assistant merchandiser but some companies have addition steps in
between both. I would prefer this job to other as it will assist in rapid career development which
is mainly based on individual performance.
This job role will remain in trend as it is required in both online and in-store
merchandising and online is the latest trend so it will be very beneficial to get this job for the
advancement of my career.
CONCLUSION
It can be summarized from above that for making career in the area of interest, it is very
essential for the student to grab all the required skills that will help in further development and
growth. Also, proper industry analysis is required to be carried out to know about the growth and
future of that industry. The different skills vary among organisation but the most important part
is how to develop the new skills that will help in meeting the expectation of the employer.

REFERENCES
Books and journals
Hajy Alikhani, P. and et.al, 2019. Revenue management and seller pricing decisions in retail
industry: An agent-based model. Journal of Industrial Engineering and Management
Studies. 6(2). pp.25-43.
Keay, A. and Iqbal, T., 2018. Sustainability in large UK listed retail companies: a sectoral
analysis. Deakin L. Rev.. 23. p.209.
Mogaji, E. and Danbury, A., 2017. Making the brand appealing: advertising strategies and
consumers’ attitude towards UK retail bank brands. Journal of Product & Brand
Management.
Pantano, E. and Timmermans, H., 2019. Smart Retailing. Springer International Publishing.
Smith, T. D., 2017. The effects of management on commitment in the retail industry.
Online
Retail merchandiser. 2020. [Online]. Available through: <https://www.prospects.ac.uk/job-
profiles/retail-merchandiser>.
Retail Trends 2020. 2020. [Online]. Available through:
<https://www2.deloitte.com/uk/en/pages/consumer-business/articles/retail-trends.html>.
Retail. 2020. [Online]. Available through: <https://www.wikijob.co.uk/content/industry/retail>.
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APPENDIX-A
JOB OPENING!
Tesco is currently looking for an enthusiastic and self motivated candidate to fill the position, of
Merchandise Administrative Assistant
Qualification and experience
 College graduate
 Experience of 0-6 months in the field of retail
Skills required
 Analytical and problem solving skills
 Hard-working
 Computer skills
 Effective communication
 Self-confident
Job description
 Planning the product ranges and sales
 Using computer software for preparing reports
 Maintaining information about the competitor's move
 Analysing the customer's need
Salary
Within the range of £18000 to £20000.
Application process
Applicants can apply through company's website or can directly walk in.
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