FY028 Inquiry Based Learning: Retail Industry Analysis and Strategies

This report provides a comprehensive analysis of the retail industry, focusing on current trends such as self-service, after-sales service, and e-commerce. The study then applies these trends to a case study of Tesco, a multinational British retail company, using PESTLE and VIRO models to assess its internal and external environments. The report examines Tesco's strengths, weaknesses, opportunities, and threats, offering specific recommendations for the company to maintain its success and adapt to evolving market dynamics. These recommendations include enhancing customer service, employee training, expanding product lines, and implementing operational strategies to reduce costs, as well as adopting online engagement strategies and leveraging customer feedback to improve services and remain competitive. The report concludes by emphasizing the importance of adapting to new retail trends and effectively analyzing market conditions and customer behaviors.