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Critical Assessment and comparison of the Competitive and Profitabbility of UK food retail Sector and the UK Oil and Gas Sector - Essay Example
Author : herbert92
Finance & Accounting
Pages 11 (2761 words)
SWOT Analysis for UK Food Retail and UK Oil and Gas Industry SWOT Analysis for UK Food Retail and UK Oil and Gas Industry The paper attempts to discuss SWOT Analysis for UK Oil and Gas industry and UK Food Retail industry…
Even due to the economic downturn, it is still predicted to increase by 15% over the next five years in the future (SAS, 2011). It is still considered to be an impressive figure despite the fact that it represents a slow growth. Over 9% of GDP of UK is generated by the retail industry which is the success factor of retail companies overseas. With the increase of e-commerce, the products are able to reach through millions of consumers. Hypermarkets have become competitive in offering diversified products to their wide customer base. The major players in the market, Tesco, Asda, J Sainsbury and Wm Morrison accounts for 80% of the total market share (Lloyds Bank, 2012). London is considered to be a strong market for consumer shopping and many people including tourists are inclined towards purchasing in London. It beats out other developed cities including New York, Tokyo and Paris with total spending of ?64.2 Billion (GAIN, 2010). The recessionary periods have hit the retail sector of UK which is very disastrous for the sector, but from a wider perspective, the major players in the market have not undergone major changes which might reveal that the market is running smoothly for the longer term. This also means that the big players did not change their strategies for competition and did not find a need to undergo major changes. ...