Declining Sales in UK Supermarkets: A Tesco Woolwich Area Research
VerifiedAdded on 2023/04/23
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AI Summary
This research project investigates the declining sales in Tesco supermarkets within the Woolwich area of London, UK, against the backdrop of a changing retail industry landscape. It identifies current trends in the UK retail sector, assesses the reasons for sales reduction in Tesco supermarkets in Woolwich, and explores the impact of this decline on Tesco's strategic decisions. The study uses a qualitative approach with descriptive research design, employing interpretivism philosophy and random sampling. Data is collected through primary and secondary sources and analyzed thematically. The findings indicate that factors such as financial crises, increased competition, the rise of online retail, and changing consumer spending habits have significantly contributed to the sales decline. In response, Tesco has implemented strategic decisions like price reductions and store closures to manage losses. The report concludes that Tesco faces challenges due to reduced sales and must adapt to evolving economic and competitive conditions.
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