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AN ANALYSIS OF THE UK SUPERMARKET RETAIL SECTOR - Case Study Example
Author : erdmanmaximilli
Pages 6 (1506 words)
The retail sector is very important for any country. It plays a great role in the economy of any country since it acts as the driving force of the economy. Unlike the manufacturing sector, the retail sector is in direct control of the market and has more influence on the trends in the market…
As a result there has been increased demand for goods at the retail level.
One of the peculiar characteristics that have been witnessed in the UK retail industry is the change in loyalty that customers had earlier held to certain brands of commodity. Apparently, there is a change in the way customers are buying goods and the increased entrance of many players in the retail market has affected the way retail traders conduct their business. Increased competition has seen increased innovation in the industry with shops struggling to hold customers.
Customers to the retail industry include those coming from the middle class. Apparently the middle class has been described as the driver of economies since it takes less measures in the way it consumers. Improved economy has seen increased income in the middle class which ahs continued to change with the changing global culture. Like in all other countries, the tide of globalization has brought a change in the culture of the people and more and more people are becoming conscious of what the market can offer. The global culture has also changed towards a spending culture and more and more people are spending in the market.
Apparently there has been increased demand in some product while there is decreasing demand of other products. ...