Economics Findings: 1. Consumer’s mindset has changed during recession, and retailers must focus on strategies that win the heart of the consumers. The impact of recession has influenced consumers’ buying behavior in a big way. Consumers have become more value conscious…
Due to recession, many retail organizations have reduced their workforce, and the employees feel uncertainty in their jobs. 3. People are likely to lose their jobs, especially men and young employees. The effect of global crisis have been felt by people in different ways, depending on the places they live, industry in which they are employed, occupation, and their personal characteristics. This is an indicator for understanding that, recruitment is an expensive process. It means that retail firms will increase the number of employees only if necessary, and they will only recruit when there is any authentic business case. As an alternative, most firms will go for their existing employees working harder, until the situation come under their control. 4. Unemployment rate is greater for males than females (Figure 1) – The unemployment rate to an extent will affect men more because they are more employed in the retail sectors, and so have the chance to experience job losses. 5. Compared to other sectors in UK, executive salary in the retail sector is so high. In reality, a significant portion of the revenues of UK retail companies are being spent for schemes of employees’ pension and salaries. 6. Unemployment rate increases largely for younger people- The maximum increase in the unemployment rate, was for the population of age group between 18 and 24, as shown in Figure 2 below. Males in this age category have borne the impact of job losses. This will result in unemployment in later life, and they are supposed to earn less in future also. Fig.2: Male and female unemployment rate Fig.3: Increase in unemployment rate by age (Lee et al. n.d.). 7. The global crisis has been reflected in the present patterns of economic slowdown: maximum job losses have been found in ex-industrial areas of UK. 8. One of the main reasons for job losses is the low skill levels of the workforce in UK. Places of population with highly skilled people have experienced less amount of increase in unemployment, and populations with low skill levels have experienced the highest rate of increase in unemployment. 9. Places which depend on financial services employment have not performed well during the time of recession. This is because of the high job losses in retail banking sector, and it tends to be situated outside the capital of UK. 10. Lower Disposable Income- The decrease in the distribution of disposable income was a main challenge for the purchasing activities of the consumers. Decrease in the disposable income has taught the consumer to be more careful in making any purchase. 11. Lower Level of Savings- Inability of the consumers to maintain a sustainable level of savings, have made them focus on two distinct alternatives; one is to continue the same level of consumption pattern by low priced product purchase, or to purchase quality products without cutting the consumption level. 12. Risk of Opportunity Costs- The risk of opportunity costs have made the consumers more conscious in making their purchase decisions. Purchase decision strategy often depends on the individual preferences of the consumers. 13. Retail banking industry is another area which has faced problems on account of recession. Retail banking carries on banking operations which directly deal with the individuals relatively than other banks or corporations. As the UK retail banking is not controlled by any centralized authority, they are occupied in business practices which are risky to continue in the market. 14. In ...
Cite this document
(“Retail business Dissertation Example | Topics and Well Written Essays - 5000 words”, n.d.)
Retrieved from https://studentshare.net/marketing/7339-economics
(Retail Business Dissertation Example | Topics and Well Written Essays - 5000 Words)
“Retail Business Dissertation Example | Topics and Well Written Essays - 5000 Words”, n.d. https://studentshare.net/marketing/7339-economics.
Starting from the 70's, oil production not only has reduced imports of petroleum products, but also brought substantial gains in trade. British Petroleum is the largest industrial corporation and the UK ranks second in Europe. Britain provides 10% of world exports of services.
The food retail industry of UK has a long and solid history. It was during fifties and sixties that the concept of supermarkets and self service shops became popular which has been marked as the starting of retail industry in the United Kingdom (Hamlett, Alexander, Bailey, & Shaw, 2008).
The researcher should ensure that the chosen methodology is effective and appropriate to the research. This is because an inappropriate research methodology leads to wastage of resources such as time and effort. Thus, secondary methodology would be most appropriate to the purpose of the proposed research.
LITERATURE REVIEW: 9 2.1. Introduction: 9 2.2. Performance of Food Retail Industry in UK: 9 2.3. Impact of Recession on Performance of Food Retail Industry in UK: 11 2.4. Changing Trends in the Retail Industry: 13 2.5. Summary: 16 3. RESEARCH DESIGN AND METHODOLOGY: 17 3.1.
The demand for packaged food has grown with rise in disposable income and with both husband and wife working out of home. Modern retail format has entered India and by mid-2011 the share of modern retail had reached ten percent (Dholakia, Dholakia and Chattopadhyay, 2012).
5 1.2 . Research Contexts, Scope and Limitations ……………………… 6 1.3. Statement of Research aims and objectives ………………………. 7 1.4. Structure of the dissertation ………………………………………. 8 Chapter 2 - APPLE INC: MARKET OVERVIEW.
Market segmentation strategy is the grouping of consumers with similar needs that an organization can satisfy by tailoring the elements of the marketing mix. Segmentation strategy advances the profit margins thus obtaining an admirable market divide. When markets are declining and the differentiation is at the premium, segmentation can show the disparity separating accomplishment and failure (Weinstein, 2004).
The cases that would be discussed in this report are the cases of Tesco, Sainsbury and ASDA. In chapter one, the aims and objectives of the research topic are discussed and the research would be carried forward based on these aims and objectives. In second chapter, the literature review will be discussed followed by the methods used to conduct the research; primary and secondary methods.
As incomes have grown so has the capacity to spend; consumer purchasing power in China has grown. China is now expected to become the world’s largest economy by 2016 while living standards will continue to improve provided reforms are implemented (OECD, 2013).
This study is an assessment of how much this change has been implemented or is successful within the branches. The corporate strategy of Barclays has also been analyzed and showed how the bank strategy could or should change from an emphasis on sales to an emphasis on customer service.
48 Pages(12000 words)Dissertation
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Dissertation on topic Retail business for FREE!