Strategies to Improve Retail Companies’ Profitability in Recession

This report provides a comprehensive analysis of strategies retail companies can employ to enhance profitability amidst a retail recession. It begins with an introduction to the concept of a literature review, emphasizing its importance in identifying research gaps. The report then delves into the impact of a recession on the UK's GDP, detailing the direct and indirect effects on the retail industry, including reduced consumer spending and shifts in buyer behavior. The analysis incorporates contrasting views from various authors to provide a balanced perspective. Strategies adopted by UK retailers to improve profitability are examined, along with different aspects that can be considered to boost sales and overall organizational success. The report uses case studies to illustrate the practical application of these strategies. The conclusion summarizes the key findings and offers informed recommendations for retailers. The report also includes a detailed literature review of academic research and real-world examples.