FY028 Inquiry Based Learning Report: Tesco and COVID-19 Impact

This report, focusing on FY028 Inquiry Based Learning, examines the impact of COVID-19 on the growth and performance of the retail industry, using Tesco as a case study. The introduction provides background information, company overview, and research objectives, aiming to understand retail trends and their effects. A literature review explores the concept of retail trends, their importance for Tesco's growth, and the impact of COVID-19. The methodology section details the use of primary and secondary data, employing quantitative methods through questionnaires. The results and discussion section presents findings on the positive and negative impacts of retail trends and COVID-19 on Tesco's performance, supported by frequency tables and charts. The report concludes with recommendations based on the analysis.

Module: (FY028)
Inquiry Based
Learning
Report: (Title: Impact of COVIDE-19 on growth and performance of retail
industry. A case study on Tesco)

Contents
INTRODUCTION....................................................................................................................................................3
Background of study............................................................................................................................................3
Company overview..............................................................................................................................................3
Rational of study..................................................................................................................................................3
Research aim and objective..................................................................................................................................3
LITERATURE REWIEW........................................................................................................................................4
METHODOLOGY...................................................................................................................................................5
RESULTS AND DISCUSSION..............................................................................................................................6
RECOMMENDATION...........................................................................................................................................8
CONCLUSION......................................................................................................................................................10
REFERENCES.......................................................................................................................................................11
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INTRODUCTION
Background of study
Main objective of this report is to better understand the importance of retail trend and
its impact on the growth and performance of an organisation. Effectively analysing the retail
trends in market an retailer is able to effectively analysis the needs and requirements of their
customers. Retail trends will assist a retailer to formulate and implement a right strategy
(Birkin, Clarke, and Clarke, 2017). With the increase in the standard of living of people the
trends in retail sector will change rapidly. A retail organisation will need to introduce new
and innovative strategies for attracting customers as because of high competition level in
retail industry.
Company overview
For this research report Tesco Company is taking into consideration. It is a British
Multinational retailer company, which is founded by Jack Cohen in 1919. It’s headquarter is
in Welwyn Garden city, Hertfordshire, England, United Kingdom. Selected company deal in
various Supermarket, hypermarket, superstores, and convenience shop. Tesco diversified into
various area such as retailing of books, clothing, electronics, furniture, toys, petrol etc. other
than this also provide various services such as Software, financial service, telecoms and
internet service. More than 423,092 numbers of workers are successfully working with it and
it has more than 7005 shops located at different number of location.
Rational of study
Main reason behind conducting this research report is to better understand the
importance of retail trends in a retail organisation. By analysing these market trends
effectively an organisation is able to understand what strategies they need to adopt. Other
than this effectively analysing the impact of COVIDE -19 on the growth and performance of
a retail organisation will be analysis through this report. It is also identify various importance
of analysing the current market trends in an organisation. By effectively analysing this
research report an organisation is able to analysis the positive and negative impact of
COVIDE-19 on organisation (Cantrell, and et. al. 2020).
Research aim and objective
Research aim
Aim of this research is “to determine the impact of COVIDE-19 on growth and
performance of retail industry”. A case study on Tesco.
Research objectives
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 To identify the concept of retail trends related to the performance of business.
 To analysis the importance of Retail trends on growth and performance of Tesco.
 To determine the impact of COVIDE-19 on performance of Tesco.
Research questions
 Explain the concept of retail trend towards the performance of business?
 Discuss the importance of analysing retail trends on Tesco performance?
 Describe the impact COVIDE-19 on Tesco performance and growth?
LITERATURE REWIEW
The concept of retail trends related to the performance of business
According to Nuseir, (2020) for effective performance of an organisation a retail
business will only require an effective knowledge of products, sales trends and buying habits
of its customers. Only these three main factors that a retailer needs. Retail trends will define
the market situation which help a retailer to better understand the needs and requirement of
their customers. Effectively analysing the retail trends is the strategy of business which help
retailer to know the right buttons to push, the right moves to make and the right people to talk
to. Effectively analysing the retail trends will improve the performance of company and
provide various advantage to company.
The importance of Retail trends on growth and performance of Tesco
According to Salindal, (2019) Retail trends play an essential role in the growth and
success of Tesco. Such as effectively analysing the current market retail trend help selected
company to know their customer’s requirements better which help company to provide
various facilities according to their customers requirements which increase customer
experience and increase the profitability of company. In context of Tesco, they effectively
analysis the retail trends and regularly update their services such as they introduce new self-
check-out system through which customer will not require any store assistant for payment of
products. This trend will help company in its better growth and performance.
Impact of COVIDE-19 on performance of Tesco.
According to Taylor, (2018 ) COVIDE-19 has a great impact on the performance of
Tesco as their customers are not able to buy products from the physical stores. But this trend
will also positively impact the performance of Tesco. As selected company will effectively
analysis this retail trend and provide online delivery service to their customers which help
company to earn higher profit. According to this trend selected company will adopt various
innovative strategies such as they provide one day delivery to their customers by maintain
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proper social distancing which provide a better experience to their customers and achieve
better option for growth.
METHODOLOGY
Primary data
It is defined as data which is collected for the first time and is original in nature as well. In
addition to this, primary information is gathered for the particular purpose associated to
research objectives. There are various sources of collecting primary information that is
questionnaire, survey, observation and so on. One of the most popular technique is
questionnaire and interview. It is stated that collecting primary data is a time-consuming and
expensive method but it is effective as it assists in gaining in-depth knowledge about research
topic due to which valid and reliable conclusion can be drawn. In the present research,
investigator adopt questionnaire as a primary data collection method as it assist in gaining
original information and meeting with research objectives as well (Chakraborty and Mandal,
2021).
Secondary data
It is for this information which is collected by someone other than the primary user. In
addition to this, it is opposite to the primary data collection method and herein data can be
altered as per the research topic. It is stated that secondary information is undertaken as
finished data and has suitable history. Secondary information is collected by experts and
professionals because of which researcher is used this data in conducting study. There are
various sources of collecting secondary information that is Journal, newspaper, articles,
Internet, online polls and many more. Moreover, collecting secondary data is less time
consuming and expensive method as well. For the present study, various Journal articles,
websites is considered for collecting secondary information associated to the research topic
(Steenkamp and Sloot, 2018).
Quantitative method
It is defined as the procedure of collecting as well as analysing numerical information. In
addition to this, it can be used to find patterns, make predictions, generalizing results from
wider population and so on (Tartaglione, and et. al. 2018). It is undertaken as one of the
easiest method for collecting information in which researchers collect data from large number
of population and represent it in the form of numbers and graphs as well. It is stated that such
form of method requires large number of participants for collecting information and represent
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it in a proper manner. This method mainly involve close ended question which results into
better understanding of the topic (Loebnitz, Zielke and Grunert, 2020).
Qualitative method
It is a procedure of naturalistic inquiry which seeks in-depth knowledge of social
phenomenon along with natural settings. In addition to this, it is undertaken as active form of
gathering information in context of words and meaning that is different from quantitative
method. It is stated that qualitative method is appropriate for gaining knowledge about
concepts as well as experiences. One of the most common method of collecting qualitative
research is interview that involves open-ended question. It is analysed that collecting
qualitative information is easy as compared to quantitative method and also allow
investigator to effectively know the concepts and knowledge about research topic.
For the present study, primary and quantitative method is used by researchers for conducting
the study. One of the main reason to use this method is it help in collecting valid information
and also allow to gain in-depth knowledge about topic. Primary data sources allow researcher
to gather original information that is required in order to develop reliable conclusion.
Quantitative method allow investigator to present understanding in the form of numbers and
graphs which is easy to interpret by others. This method will help researcher to achieve
research objectives timely and effectively.
RESULTS AND DISCUSSION
Frequency table
Q1. According to your viewpoint, how retail trends will impact on
the growth and performance of an organisation?
Frequency
a) Positive impact 20
b) Negative impact 6
c) Neutral 4
Q2. What is the benefit of analysing the retail trend on the success
of organisation?
Frequency
a) Gaining a 360 degree view of customers’ needs 15
b) Enhance customers experience 10
c) Improve and optimize in –store operations 5
Q3. According to your viewpoint, what are the current trends face
by Tesco?
Frequency
a) COVIDE-19 10
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b) Online shopping 10
c) Raising environmental social & governance credentials 8
d) Developing resilient supply chains 2
Q4. According to your viewpoint, how COVIDE-19 will influence
the growth and success of Tesco?
Frequency
a) Positively influence 15
b) Negatively influence 15
Theme: Impact of retail trends on growth and performance of organisation
Q1. According to your viewpoint, how retail trends will impact
on the growth and performance of an organisation?
Frequency
a) Positive impact 20
b) Negative impact 6
c) Neutral 4
10
10
8
Chart Title
COVIDE-19
Online shopping
Raising environmental social & governance credentials
Interpretation- From the above chart it is analysis that out of total 30 respondents, 20 will
response that it retail trends have a positive impact on the growth and performance of an
organisation. While 6 respondents response that retail trends have a negative impact on
growth & performance of organisation and 4 respondents will select the option of neutral.
Theme: Benefits of Analysing retail trends
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Q2. What is the benefit of analysing the retail trend on the
success of organisation?
Frequency
a) Gaining a 360 degree view of customers’ needs 15
b) Enhance customers experience 10
c) Improve and optimize in –store operations 5
10
10
8
Chart Title
COVIDE-19
Online shopping
Raising environmental social & governance credentials
Interpretation- The above chart show that 15 respondents think that effectively analysing the
retail trends will help company in gaining a 360 degree view of their customer’s needs. While
10 respondents say that it will increase the customer experience which help in the success of
company. While out of total 30 respondents remaining 5 respondents will say it will help in
improving and optimize in-store operations.
Theme: Current trends faced by Tesco
Q3. According to your viewpoint, what are the current trends
face by Tesco?
Frequency
a) COVIDE-19 10
b) Online shopping 10
c) Raising environmental social & governance credentials 8
d) Developing resilient supply chains 2
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10
10
8
2
Chart Title
COVIDE-19
Online shopping
Raising environmental social & governance credentials
Developing resilient supply chains
Interpretation- The above chart show that out of total 30 respondent, 10 think that
COVIDE-19 is the current trend in market, while other 10 respondents think that the current
retail trend is online shopping. 8 respondents will select the option of raising environmental,
social & governance credentials. While remaining 2 respondents will select the option of
developing resilient supply chains.
Theme: Impact of COVIDE-19 on Tesco
Q4. According to your viewpoint, how COVIDE-19 will
influence the growth and success of Tesco?
Frequency
a) Positively influence 15
b) Negatively influence 15
1515
Chart Title
Positive influence Negative influence
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Interpretation: From the above graph it is analysis that COVIDE-19 will have both positive
and negative influence on Tesco. As out of 30 respondents 15 select the option of positive
influence while the remaining 15 respondents will think that COVIDE-19 will negatively
influence the growth of Tesco.
RECOMMENDATION
From above discussion on this research report it is analysis that retail trends are an
important concept for an organisation and they need to effectively analysis it. From above
analysis it is recommended that Tesco, needs to use Drone delivery system in their
organisation as it help in better providing the services to their customers at the time of
COVIDE-19 and also maintain social distancing. Other than this it is recommended that they
need to conduct proper market research on the current retail trends so that they can achieve
the benefits of these trends (Štulec, Petljak and Naletina, 2019).
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CONCLUSION
From above discussion on this report it is concluded that retail trends will help an
organisation in the growth and success of an organisation. As effectively analysing these
trends will help company to adopt effective strategy which provide better experience to their
customers which increase the profitability of company. Timely analysing and adopting the
retail trends help company to face competition in market.
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REFERENCES
Books and journals
Birkin, M., Clarke, G. and Clarke, M., 2017. Retail location planning in an era of multi-
channel growth. Routledge.
Cantrell, J., and et. al. 2020. History and current trends in the electronic cigarette retail
marketplace in the United States: 2010–2016. Nicotine and Tobacco Research. 22(5). pp.843-
847.
Chakraborty, A. and Mandal, P., 2021. Channel efficiency and retailer tier dominance in a
supply chain with a common manufacturer. European Journal of Operational Research.
Loebnitz, N., Zielke, S. and Grunert, K.G., 2020. Consumers' brand decision: a matter of
social risk. International Journal of Retail & Distribution Management.
Nuseir, M.T., 2020. Potential impacts of blockchain technology on business practices of
bricks and mortar (B&M) grocery stores. Business Process Management Journal.
Salindal, N.A., 2019. Halal certification compliance and its effects on companies’ innovative
and market performance. Journal of Islamic Marketing.
Steenkamp, J.B. and Sloot, L., 2018. Retail disruptors: The spectacular rise and impact of
the hard discounters. Kogan Page Publishers.
Štulec, I., Petljak, K. and Naletina, D., 2019. Weather impact on retail sales: How can
weather derivatives help with adverse weather deviations?. Journal of Retailing and
Consumer Services. 49. pp.1-10.
Tartaglione, A.M., and et. al. 2018. How the environmental complexity affects forecasting in
retail? Actual research trends. Journal of Marketing Trends (1961-7798). 5(2).
Taylor, E., 2018. COPS and Robbers: Customer Operated Payment Systems, Self-Service
Checkout and the Impact on Retail Crime. In Retail Crime (pp. 99-119). Palgrave Macmillan,
Cham.
Wu, J.P. and Cui, Q., 2021. The evolution of retail channels in China since 2000. Journal of
Inter-Organizational Relationships. pp.1-15.
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