Professional Inquiry Project (BUS9711M) Assignment Help
Student Name: | |
Student ID: | |
Degree Title: | |
Name of Supervisor: | |
Date of Submission: | |
Word Count: | 11560 words |
Please insert your name below to verify the following statement: By formally submitting this work, I confirm that I have read the University of Lincoln’s regulations, that I understand them, and that the work I have submitted is my own original work. (insert your name above to confirm agreement with the above statement) | |
Is this project based on primary or secondary data? SECONDARY (please delete as appliable and include your favourable ethical opinion letter as an appendix to your work) | |
NO (please delete as applicable and, if YES, please answer question 2 below)
YES NO (if NO, please contact the University’s Student Wellbeing Centre at [email protected]) |
Acknowledgement
I would like to extend my heartfelt appreciation and gratitude towards my professors, peers and colleagues for their constant motivation and guidance in the dissertation. I was able to conduct this research through feedbacks and constant reviews which improved my dissertation and helped me to present my analysis on the topic. Hence I appreciate the assistance offered by the University in the completion of the research.
Abstract
The UK retail sector has been witnessing a tremendous shift within its business operation post pandemic. The dissertation investigated the main development and issues affecting the UK retailers within the competitive landscape. The systematic literature review was used in the assessment of the factors impacting the growth and productivity of the retail companies and brands. It also provided a critical and end to end understanding on the role of the retail companies. Hence, based on the discussions, it was stated that retail companies are developing its AI systems and operations while addressing the need of the customers. Future research can be implemented to study the growth of retail companies in the post pandemic landscape.
A Study on The Main Developments and Issues Affecting the UK Retail Sector, and How Should Retailers Adapt to Remain Competitive?
Table of Contents
1.4 Aim and Objectives of the research
2.3 Main developments in UK retail sector
2.4 Issues affecting UK retail sector
2.5 Strategies for retailers to continue to be competitive
Chapter 3: Research Methodology
Chapter 4: Findings and Discussions
4.4 Systematic Literature Review
Chapter 5: Conclusion and Recommendations
Chapter 1: Introduction
1.1 Introduction
The retail sector in the UK has been subjected to prolonged upheaval with issues such as changing consumer demands, increase in online shopping, Covid-19 and devastating economic issues which affect engagement with retailers and consumers. The pandemic accelerated these above-mentioned challenges and led to significant changes in the sector and industry. The dissertation shall outline the ways and methods the UK retailers can become competitive and retain their competitive advantage in the market. It will elucidate the challenges and issues that are currently being faced by the UK brands and methods that can be adopted to make them effective and efficient in nature.
1.2 Background to Research
The retail sector in the UK comprises of brands such as Tesco, Sainsbury and has an influence the customer engagement demand for the industry (Akram et al., 2021). Prior to the pandemic the sector has been subjected to various challenges such as store closure. The year 2008- 2019 had a negative impact on 27% of the clothing and accounting sector of the business. Footwear, DVD and rental stores in the U were similarly affected due to the change within the business. Internet retailing is significantly popular in the UK and increased during the onset of the pandemic. The year 2020 witnessed that 90% of the residents made an online purchase. Most of the store closures occurred on the account of high cost of running outlets and high labour costs. It was also due to the emergence of low profitability which was the result of high costs and a slow growth in the sales (Chaveesuk Khalid and Chaiyasoonthorn, 2021). Therefore, the pandemic delivered a major blow to the companies and led to several issues affecting the business. The main development occurred in the UK with the development of the increase in sales and so on which affected the operations of the business. Hence, it led to a number of issues and impacted the operation of the companies.
1.3 Research Problem
The pandemic resulted in consequences affecting the operations of the business. It is integral to note, that lockdown resulted in store closure and negatively impacted and affected the sales of the business. It is integral to understand that online retailing has significantly started with the onset of the lockdown. The overall significant changes lead to several issues within the organization. The research problem investigated the challenges that were faced by the functioning of the systems. Hence, these research problems also impacted led to an increase in online sales for the pandemic. It also impacted and affected the functioning of the business systems. Hence the major developments occurring within the pace led to an increase in online branding stores and branding of the company. It led to a series of changes with an increase in sales. Online e-commerce has been soaring in the market and will be investigated for the purpose of marketing and developing the business (Mukonza and Swarts, 2020). These impacted and affected the functioning of the systems leading to issues in online retailing and so on, for the functioning of the business. Therefore, these areas have an influence on the functioning and the growth of the business for the research aim and objectives.
1.4 Aim and Objectives of the research
Main aim of the research is to analyse the development and issues, which are affecting t retail sector of UK and evaluate ways that the retailers can adapt their marketing services to acquire competitive advantage within the UK market.
Objectives of this research are presented below:
To investigate the development and issues within the UK retail market
To analyse the main developments occurring within the UK retail market
To assess the methods that can be used by UK retailers to acquire competitive advantage in the market
To evaluate the future of the UK retail sector and its impact over businesses
1.5 Research Rationale
The rationale of the research was to analyse and assess the different challenges, which were faced by the retailers in UK. The major developments occurring within the industry were studied to offer a comprehensive and detailed understanding on different methods and strategies which were important in improving the competitive advantage of the company. It will also assess and evaluate the major opportunities, which are significant for the process of achieving aims and objectives, that are important for the development of the research aim and objectives, related to the study. Hence these factors were studied to provide significant advantage to the overall study.
1.6 Research Significance
The research is significant as it provided a comprehensive and end to end understanding on the competitive issues, which might affect the UK retailers. Most of the retailers are focusing on the factors, which are influencing and affecting the operations of businesses. It is integral to understand that the use of internet retailing has been useful in addressing this aspect and improving the growth of the sector. The sector has an influence on the operations, that are necessary for assessing the elements that are related to the consequences of the business. It has also portrayed the development of the research studies that are necessary for the company. Most of the research studies highlighted the different types o online retailing services provided by the business. Similarly, it is integral to recognise the important concepts, which are related to the functioning of the business. Hence, these elements have been studied and analysed to deliver a comprehensive overview on nature of the research studies, which are highly important for the aim of the study and the research. Hence, the main development in within the retail sector will be analysed to provide an understanding on the significant areas, that the company can work and improve upon for the business.
1.7 Research Question
The research question for the dissertation are as follows:
What are the key developments and underlying issues that are affecting retail sector of UK?
What retailers need to implement to have competitive advantage within the retail sector of UK?
1.8 Dissertation Structure
The dissertation will be divided into five chapters and will provide a comprehensive and end to end understanding on the methods that will be employed to make the use of the research. The first chapter covered the introduction along with background of the research by highlighting aims and objectives. Second chapter focused on the development of the literature review and its influence on the role and the process of the UK retailers. The third chapter focused on the research methods and processes that are useful for the achievement of the research question. The fifth chapter outlined the findings and the discussion and concluded research inferences which was related to the process of the dissertation.
Chapter 2: Literature Review
2.1 Introduction
Literature review chapter is dealing with knowledge development on the research problem through identification of the current evidences, while developing knowledge on the research problem. Here, the researcher conducted a thorough investigation on the existing papers. The literature review part of the research is dealing with comprehending existing evidences to develop knowledge, mainly on the research variables. The researcher focused in the present study upon developing knowledge on the key variables of the research, by exploring existing evidences, which include the UK retail sector, the main developments in the sector, the issues affecting the sector as well as the strategies required by the UK retailers for staying competitive for long run. Further, the researcher conducted a thorough search of literatures for shaping the further steps in the research. The researcher focused upon exploring theoretical understanding on the issues and developments, for understanding the impact on the UK retail sector. Finally, the gap in existing literature is discussed in this part, which could be addressed in the present study further.
2.2 UK retail sector
The retail sector is a crucial contributor to the economic aspect of UK. Besides being just a source of income, this sector is employing approximately 3 million people throughout more than 235000 companies. UK retail sector is a crucial part of UK economy, which is contributing more than 5% of GDP (Rhodes 2021). The main segments include food, fashion, homeware, electronic, health and beauty and others. The sector has undergone significant disruption due to ecommerce, economic impact of Brexit as well as changing consumer habits. With some exceptions, the rate of annual retail sales in UK is continuously increasing in last decade, while in 2022, this sector has witnessed the highest rate, which accounts to around 496 billion pounds (Office for National Statistics 2022). In the year 2021, total rate of sales in UK retail sector was more than 100 million pounds, without sales of motor vehicles. The amateur food segment is taking up largest share of the retail market in UK. The stores, which are mainly selling food, got the sales volume worth more than 150 billion within last 18 years. The sales volume was 166 million pound in 2022 (Hristov & Reynolds 2015). Compared to this, the rate of retail sales volume of textile, clothing and footwear stores was worth around 49 million pound in 2022, which is considered as strong recovery after the devastating impact of pandemic. The main role was played by supermarkets within retail sector of UK, amongst which, the Tesco is considered at the top of the list, which has experienced around 16 billion pounds sales value compared to Amazon UK. Being a supermarket giant, Tesco is operating a wide range of grocery store market in UK in October 2023, which has set this supermarket giant importantly ahead of its competitors (Fernie and Sparks 2018). Sainsbury was in second position having a share of roughly 15%, which is followed by Aldi, making top three supermarkets. Besides, Kingfisher Plc is also a leading retailer in UK within global sales. The retail sector is further expanding and improving its services in the age and the growth of digitalization within the sector.
The online retail has increased rapidly, which is accounting for more than 20% of total sales. Nowadays, for retailers, omnichannel strategies are crucial, as consumers except flexible options for in-store, online and mobile based facilities. The rise of ecommerce has also led to issues on high street, with reduced foot traffic. The UK consumers are growingly emphasizing upon convenience, sustainability, experience and personalization. Advanced technologies like contactless payment, automated checkout appeal, VR shopping are growingly being used by the retailers for consumer convenience (Nash 2019). Besides, ethical sourcing, transparent supply chain, recyclable packaging are addressing increasing sustainability demands. Finally, targeted recommendations, customized promotion and loyalty programs are indicating that customers are seeking more personalization.
2.3 Main developments in UK retail sector
The UK retail sector has undergone noteworthy change in recent year driven by technological innovation, competitive pressure and changing consumer behaviour. One key driver that is the main development of the UK retail sector, is rapid growth of e-commerce and internet shopping. The sales rate of online retail is accounting for more than 20% of total sales rate in UK (Naidoo and Gasparatos 2018). It is promoted by high penetration of mobile and fast internet access. Retailers have moved to omni channel strategies, while integrating their in-store and online stores to offer seamless customer experiences. Click and collect services, in-store WiFi and tablets, VR showrooms and mobile apps are some major examples of mixing digital and physical retail.
Another major development in the UK retail sector is use of advanced analytics and artificial intelligence for improved business insights and decision making. From predictive demand forecasting, personalized marketing, supply chain optimization and self-learning algorithms, the UK retailers are taking advantage of big data. Consumers are also engaging more via technologies like contactless payments, automated check outs, robot assistants and smart changing rooms (Filimonau and Gherbin 2017). Organizations are cautious regarding risks like data breaches, while focusing upon data governance on security and privacy protections. Consumer preferences are changing towards experience, convenience and ethical consumptions. Retailers are adapting through offering unique in-store experiences, convenient delivery option and focusing upon ethical and locally sources products (Nanda et al. 2015).
Further, experiential retail has grown strongly, where stores emphasize upon developing social, sensory, engaging experiences. Educational experiences regarding products and services are connecting better with customers today. Sustainability has now become a key agenda by the retailers, driven by environment conscious consumers, mainly younger consumers (Clarke et al. 2015). Eco-friendly materials, ethically sourced products, carbon footprint labelling, circular economy initiatives and waste reduction is highlighting some actions UK retailers are undertaking for greener options. Further, sudden outbreak of COVID-19 has significantly transformed the retail behaviour and expectations. Even, after elimination of restrictions, the consumers’ habits like shopping local, home delivery, contactless delivery and social distancing continued till today. COVID-19 significantly led to disruption of supply chain, changed consumer behaviour and promoted online shopping. Retailers need to adapt rapidly to new conditions, with some increasing their online presence, while investing in safety measures and in-store shopping (Kirby-Hawkins et al. 2019). Retailers are increasingly using data analytics for understanding consumer behaviour and preferences. The information is further used for personalization of marketing strategies, promotions and product recommendations, both online and offline. Recently, some retailers have hold up the notion of pop-up shops and experiential retail for creating unique and engaging in-store experience. This approach helps in attracting customers and differentiating the brand in competitive environment. Now, for success and sustainability, agility, consumer empathy and safety has become critical for survival (Tolstoy et al. 2021). Above discussed developments highlight the dynamic nature of UK retail sector, which continues to evolve in response to changing consumer expectation, technological advancement and external factors like global pandemic.
2.4 Issues affecting UK retail sector
The UK retail sector is facing several challenges from submissive consumer confidence and spending capability to supply chain disruption and increasing cost. With reduced household budgets by high inflation, reduced wages and potential recession, retail sales have reduced in recent months. Higher price has also led increasing customers to switch to discount outlets like Aldi and Lidl (Hood et al. 2020). Reduced retail footfall is mainly impacting upon high street stores, which are struggling with falling sales and closures.
Consistent labour shortage through retail, hospitality and logistics has added to the after-Brexit barriers of new immigration rules and business policies. Staff recruitment and retention has become more difficult with retail facing strong competition from other sectors (Oosthuizen et al. 2021). The increasing skill gap is also seeking significant retraining and upskilling programs.
Further, global supply chain issues like production delays, congested ports and limited shipping containers availability is driving higher cost for retailers. Continued volatility in currency exchange rates and COVID-19 outbreaks in manufacturing hubs are also impacting sourcing cost (Papanagnou et al. 2022). With increasing sources, logistics and operating expenses, several retailers are trying to pass higher prices to consumers, which then reduces volume further. Finding optimal balance within maintaining profit margin and retaining hard won customer in the competitive environment is difficult task.
Sustainability concerns from consumers, regulators and advocacy groups are also putting pressure on retailers to change their environmental impact. Demands for reduced carbon emission, lessening waste and use of plastic, adoption of renewable energy and circular product flow need significant long term investment in time, capabilities and resources (Verhoef et al. 2015).
It is noteworthy that the major growth of e-commerce is continuing to be a significant challenge for conventional brick and mortar retailers in the UK. Consumers are increasingly preferring convenience of online shopping, seeking to reduce foot traffic in physical stores. Such shift necessitates re re-evaluation of business models and application of effective online strategies for remaining competitive. Further, the UK retailers are struggling with increasing operational cost, including increased wage, business rates and supply chain expenses (Falk and Hagsten 2015). The increasing cost is putting pressure on profit margin, especially for smaller business, which can lead to challenge in sustaining competitiveness. The UK retail sector is increasingly susceptible to disruptions in global supply chain. Issues like shipping delays, shortage of raw materials and geopolitical tensions impact the availability of products, contributing to inventory management challenges of the retailers (Sharma et al. 2020). Further, changing consumer confidence, which is often influenced by economic uncertainty and aspect like Brexit, impact consumer spending habits. Retailers often navigate through periods of economic volatility, adapting their strategies for addressing changes in disposable income and consumer sentiment. Further, increasing stress on sustainability issues has led consumers to look for eco-friendly and ethically sourced products (Ayers and Odegaard 2017). Retailers are facing challenge of implementing sustainable practices in their supply chain, while ensuring that their products offerings are aligning with changing consumer values. While technology is representing opportunities, it is imposing challenges for retailers. The rapid pace of technological change needs continuous adaptation. Retailers must invest in digital infrastructure, data analytics and artificial intelligence for staying relevant and providing seamless omnichannel experience.
2.5 Strategies for retailers to continue to be competitive
Within the changing and competitive dynamic of retail sector in UK, retailers need to adopt strategic approaches addressing evolving consumer preferences, technological advancement and industry challenges. Firstly, it is crucial to invest in robust e-commerce platform and integrate those in physical stores seamlessly for offering customers a cohesive omnichannel experience (Wilson 2015). This should include advanced features like click and collect, in store pickups and unified customer profiles through different channels. Leveraging digital marketing strategies for increasing brand visibility and engaging with online customer is essential. Social media, content marketing and targeted advertising can be powerful tools for reaching and retaining a wider audience. Further, implementing advanced analytics and data driven insights for understanding consumer behaviour, market trends and preferences is crucial. Further, this information can be used for personalized marketing strategies, product offering, inventory management and enhancing overall customer experience (Mahmoud et al. 2020). It is also important for the retail organisations to hold up emerging technologies like artificial intelligence, virtual reality, augmented reality for enhancing shopping experience. Implementing technologies like smart mirrors, contactless payment and personalized recommendations can give competitive advantage to the retailers in the digital age. Responding to growing consumer demand for sustainable and ethically sourced product is necessary to remain competitive. Implementing environment friendly practices in supply chain, operation, waste reduction and communicating these efforts with transparency is necessary to develop trust with eco-conscious consumers. Most importantly, it is crucial to stay aware of the changing consumer preferences and behaviour. Regularly assessing product offers and adjusting strategies accordingly is necessary (Ruiz-Real et al. 2018). Engaging with customers via survey and feedback mechanism for understanding and addressing their evolving needs is necessary. Developing unique and memorable in-store experience can also differentiate retailer’s physical stores from competitors (Valaskova et al. 2021). For this, they can include interactive display, exclusive in-store events or live demonstration is necessary. Providing an experience beyond only transactions can grab attention and retain potential customers. Further, implementing flexible and dynamic pricing strategies those are responding to market conditions and consumer behaviour is necessary. This could include promotional pricing, loyalty programs and strategic discounts for remaining competitive and capturing market share (Bloom et al. 2019). It is also crucial to invest in ongoing training programs for keeping employees informed about product updates, customer service practices and emerging market trends.
Chapter 3: Research Methodology
3.1 Introduction
The research methodology is referred to the systematic procedure of planning, executing and analysing research. It includes procedures, techniques and tools used for collecting and interpreting data, assuring reliability and validity of study findings. The methodology guides researcher in designing experiments, surveys and investigations for answering specific research questions (Panneerselvam 2014). It is providing a framework for the research process, starting from defining the research issue, then collecting and interpreting information for leading to conclusion. Research methodology is important for research study assisting in assuring reliability and validity of findings. In this context, it is essential for researcher to link the research methodology with that of the main purpose given research. This research aims to shade light on the key developments and challenges that are highly affecting the retail industry of UK. Special focus has been given on the tactics that the UK based retailers should follow to address the challenges. Considering the purpose of the study, secondary research methodology was followed by the research by exploring existing evidences (Snyder 2019). Thus, the researcher selected methods and tools suitable for secondary method in the following section. The chapter comprises research onion, research approach, design, philosophy, data collection and analysis tool selection along with justification.
3.2 Research Onion
For selecting the methods and tools systematically, the study has followed research onion framework. The model is developed by Saunders et al. (2015). Being a metaphorical model, this model is representing the layers of research process, including different stages of the research, including research philosophy, research approach, research strategy, choices of the methods, time plan, data collection and analysis process. While uncovering each layer like peeling and onion, the researcher can find different set of available methods for selecting one suitable for the research. Each layer is developed upon the previous layer, focusing upon importance of inclusive research design. Inner layers include wider and abstract consideration, while outer layers emphasize upon real and exact aspects (Davidavičienė 2018). Researchers use research onion to guide the selection and integration of methods, assuring a well-rounded approach for selecting the methods and techniques in research. In the outermost layer, the researcher can find research philosophy, that shapes researchers’ belief and approach. In the following layers, the broader choices are made, including research approach, research strategies, choices and finally, in the core layer, the methods of collecting and analysis of data, employed by the researcher for the successful completion of the research. Therefore, the research onion framework is guiding the researcher through decision making process about selection of the research methods and tools. In the following section, the selection of these tools and methods will start from outer most layer, research philosophy.
3.3 Research Philosophy
Research philosophy is regarded as the set of assumption and perception underlying choice of the researcher regarding appropriate research methods. It influences the perception of researcher on reality and nature of knowledge, chosen during the course of this research. There are three main research philosophies, followed by the researchers, including positivism philosophy, interpretivism philosophy and realism philosophy (Mishra and Alok 2022). The positivism philosophy is rooted in natural science, believes an objective reality and needs empirical evidence (Pandey and Pandey 2021). This indicates that positivism philosophy relies upon factual information and supports quantitative studies (Mishra and Alok 2022). Interpretivism philosophy is on the other hand, prevalent in social science, identifies multiple subjective realities and focuses understanding via qualitative methods. It indicates that human interpretation is important consideration in research, while analysing information, thereby supporting researchers’ own interpretation. On contrary, realism relies upon existence of objective, external reality that is independent from human intellect and can be comprehended via empirical observation (Mishra and Alok 2022). The choice of research philosophy is shaping the entire research process, influencing the formulation of research questions, along with the techniques of collecting and analysis of data (Mishra and Alok 2022). Researchers should link their philosophy with nature of the research and question being investigated. The clear understanding of research philosophy increases credibility and validity of research outcomes. Finally, research philosophy is serving as a basic guide, influencing researcher towards an approach aligning with epistemological assumption inherent in the selected paradigm.
This research has shaded light on the ongoing developments and issues, which are affecting the performance of UK based retail organisations. The tactics, to be followed by UK retailers to mitigate these issues have also been highlighted during the course of this research. For meeting the research purpose, the researcher revealed that secondary methodology is suitable. This is why, the interpretivism philosophy is selected here (Mukherjee 2019). It is because, it supports subjective investigation, thereby supporting secondary studies. Secondary data collection has advantage over primary one. For instance, there is less chance of bias for not involving primary participants and it need less time to be complete over primary data. Secondary data is evidence based also. Further, it allows human interpretation consideration, thereby giving opportunity of descriptive analysis considering researchers’ own interpretation. On contrary, empirical evidences are not being collected here, thus rejecting suitability of positivism philosophy here.
3.4 Research Approach
Research approach is the overarching plan guiding the methodical investigation of a research question. It involves the selected theoretical framework, methods and procedure implemented for collecting and analysing data. In the field of science, several researchers can assign different meaning for the term research approach (Al-Ababneh 2020). In some cases, researcher could find that research approach can imply methods for data collection and analysis in general as well as differences within quantitative and qualitative methods specifically (Newman and Gough 2020). The researcher can select among deductive or inductive approach. In case of deductive method, it starts with theoretical view and hypotheses testing, while inductive approach starts with observation for deriving general principles. The main distinguishing point within inductive and deductive approach is the relevance of hypotheses to the study (Al-Ababneh 2020). Deductive approach test and validates assumptions, while inductive approach referred to the development of new theories along generalization (Al-Ababneh 2020). It is noteworthy that deductive approach relies upon empirical investigation and supports quantitative studies. It goes upward from theory to data, having the purpose of causality and generalizability (Al-Ababneh 2020). On the other hand, inductive approach starts with specific observation and finding patterns from the evidences in qualitative resources for developing theoretical explanation based on observation.
The researcher selected the research approach aligning with the purpose of the study. Main objective of this research is to investigate main developments and challenges, which are influencing UK retail sector. The ways, which retailers should consider to stay ahead from this issue and acquire competitive advantage has been discussed here to elaborate the discussion. Considering the need for secondary methodology, there is no scope for hypotheses testing of quantitative assumptions, which rejects the suitability of deductive approach. Thus, inductive approach is found to be suitable here, as this approach finds patterns and give the opportunity to develop themes related to the findings (Al-Ababneh 2020).
3.5 Research Design
Research design is considered as a structured framework, defining the plan and procedure for carrying out the research study. It includes decision on data collection method, sampling method and data analysis procedure. The research design is critical for achieving research objectives and for addressing specific research question (Acharyya and Bhattacharya 2019). Research design enables the researcher in sharpening research methods, which are suitable for the research issues and setting up their studies for success (Acharyya and Bhattacharya 2019). There are three main types of research designs, i.e. explanatory, exploratory and descriptive research design. The exploratory research design is a basic investigation aimed to gain insight and understanding the research issue. It is often used when the researcher has lack of knowledge on the research issue. Explanatory research design manipulates the research variables for developing causal relationship within the research variables. As the name implies, the descriptive research design is providing a detail and in-depth account of a phenomenon (Dzwigol 2022). It is offering proper depiction of research phenomenon through survey, secondary data analysis or observation. It demonstrates the variables thoroughly, instead of establishing causality.
The study found secondary method suitable for the study. This is why, descriptive research design has been selected to be followed here. There is no scope for establishing causal relationship within the research variables and the researcher has initial knowledge on the phenomenon. Thus, explanatory and exploratory research designs are not suitable here. Descriptive design enables the researcher to analyse thoroughly and in descriptive manner, which is suitable for secondary study.
3.6 Research Method
In regards to method, research method can be of two types, as per the research onion framework, i.e. qualitative and quantitative. Quantitative method allows the researcher to collect statistical data (Thomas 2021). However, qualitative method helps in having descriptive information, in words, not in numbers. In this research, main objective is to assess main developments and challenges, which are influencing the retail industry and what actions the retailers should take to sustain in the highly competitive retail environment of UK. To meet aim of the research, the researcher identified that qualitative data collection method is suitable, as it allows the researcher to collect in-depth information from the existing research works on given topic. Thus, qualitative method has been considered to be suitable.
3.7 Data Collection Method
Data collection method is defined as the process of gathering data from pre-selected resources. Data collection method can be primary and secondary. Primary method of collecting data comprises of gathering information or data from first handed primary resources. It needs primary human participants for gathering information, which are novel and have not been used in any other purposes (Nayak and Singh 2021). Besides, secondary data collection incorporates gathering data from existing literatures and other resources that are publicly available in some databases like book, journal, article, report or website. It is important for the researcher to choose right research methods in accordance with research purpose.
Considering the research topic, collection of primary data collection would be difficult. Thus, researcher would rely upon secondary data collection method. This method of data collection involved gathering data existing resources, without involving any primary participant (Gupta and Gupta 2022). The researcher relied upon existing resources, i.e. books, journal articles, websites, reports and more for collecting information from the resources. Collection of secondary data is suitable because, secondary data is easily accessible compared to primary data. It is not costly experiment and time spent on secondary data collection is less than usually done for primary research. Thus, secondary data collection is applicable here. The researcher has selected systematic literature review as one of the most relevant tools for the collection of secondary data, through exploring existing literatures, including journal articles suitable for the study, using some key search terms, i.e. “key developments, UK retail sector, challenges, competitive advantage”. The search strategy would involve online database selection. Google scholar has been used for identifying and selecting articles using the selected keywords. Some key inclusion criteria have been followed to select appropriate articles, which are as follows:
Articles published after year 2000
Articles published in English language only
Articles published with free full text availability
Articles published with concise abstract
3.8 Data Analysis Method
Data analysis is referred to process of evaluating and interpreting information collected from resources. It is also divided into primary and secondary method. The primary method is used for analysing primary or first handed information; while, secondary method is used for analysing secondary or existing information (Saunders and Bezzina 2015). Considering main objectives of this research, the researcher gathered secondary data and thus, secondary data analysis method have been chosen for analysing the findings (Gupta and Gupta 2022). The researcher selected thematic analysis method as the secondary data analysis method. The researcher raised themes from the findings and analysed the information thoroughly under the themes (Gupta and Gupta 2022).
3.9 Ethical Consideration
The researcher has applied all the methods and procedures for ensuring that present study has been conducted ethically. The researcher ensured all information are collected from authentic and credible resources. The researcher further identified that all information are kept secret within files, protected by strong password, following the “Data Protection Act 1998” (Thomas 2021). All information will be demolished by using suitable tool immediately after the completion of the research. Here, researcher would ensure that original authors’ intellectual property rights of secondary data are prioritized, along with assuring proper citation and avoiding misrepresentation. Researchers should critically assess the quality and reliability of secondary resources via thorough examination, acknowledging potential biases and conflict of interest (Thomas 2021). Besides, the researcher also ensured transparent reporting and adherence to ethical guidelines mitigating the risk of unintentional misinformation.
3.10 Summary
The above chapter emphasized upon recognizing and justifying the right method and tool in order to perform the research. The researcher carried out secondary methodology for conducting the study. The researcher identified that interpretivism philosophy, inductive approach, descriptive design and secondary data collection and analysis methods are suitable for the present study and thus, justification for their selection has also been provided here. Finally, the ethical considerations are provided here.
Chapter 4: Findings and Discussions
4.1 Introduction
This chapter aims to elucidate main development and issues affecting the competitive advantage of the UK retail sector. The thematic analysis will be used to understand the impact of developments which are a part of the UK retail sector. It has played an imperative role in addressing the role of the UK retailers, that are a part of the business. Journals, books and websites have played a pivotal role in addressing the aim and objectives of the research. Hence the secondary data collection and analysis had an imperative role in the development of the UK retail sector.
4.2 Inclusion Criteria
The systematic literature review revolves around articles, and peer reviewed journals which align with main research aim and objectives of present research. Based on the search strategy 10 articles were reviewed to highlight the main issues and developments which are currently impacting the competitive advantage of the UK retail sector. It is important to note, that the articles published after the year 2000 with full text availability was taken into consideration as the concise abstract of the dissertation. The criteria played an important role in the development of main aim and objectives , that are related to the purpose of the research.
4.3 Exclusion Criteria
The exclusion criteria of the research revolves around the aspects, which were not being considered or taken into account for the research. It excluded articles before 2000 and did not include evidences and information from ill sourced websites. Hence, it played an important role in the development of the research aim and objectives. The exclusion criteria prevented the inclusion of irrelevant information to maintain the integrity and the coherence of the research. Hence the search strategy of the research maintained in careful consideration for the process of the study forming themes right after the systematic literature review.
4.4 Systematic Literature Review
Authors | Aim | Methods | Findings | Limitation |
Nanda, A., Xu, Y. and Zhang (2019) | “This paper aims to explore the impact of the COVID-19 pandemic on retail real estate and high street landscape through acceleration of e-commerce and digitalization.” | The secondary data analysis was used to provide a critical understanding of the digitalised retail sector outlet. The mixed method approach was used to analyse the role of e-commerce and digitalization via the use of insights and interviews from the managers of the business. | According to the findings, policy making and urban regeneration as well as local economic development were highlighted stating the need for repositioning the physical shops during Covid-19. | There are limitation within the paper as most of the managers provided their limited experience on the proces |
Khan, K. (2015) | “The study aimed at understanding the retail industry of UK, its latest trends and performance of different retail sections namely high street retail, supermarkets and online retail.” | The use of secondary online data was used to achieve the research aim | Sentiment analysis, micro analysis and perceptual mapping was used to study the role of supermarkets and customer preference within the industry. The major supermarkets were highlighted stating the prevalence of online shopping and mobile shopping in the UK. | The limitations within the research has been taken into consideration for checking out fashion trends and the role of these articles within the market. |
Sabanoglu, T. (2016) | “This statistic presents the percentage change year-on-year in total retail sales in the United Kingdom, from April 2015 to September 2016” | The statistical analysis was used from the website statista | It revealed that growth was experienced within the retail sector by 2% in January 2016 and sales began to decline by 0.5%. | The limitations of the research highlighted its role within the dissertation as an active part of the research. |
Alvarez and Marshal (2019) | “The aim of the research was to analyse the role of the online retail store and its impact over the Millennials and Gen Z. It aimed at marketing strategies used by the business” | Secondary data collection was used to provide an analysis to the research | Based on the findings of the research, engagement in meaningful experiences are important to the consumer. Retail spending accounted for 29.5% retail spending by focusing on aggressive marketing strategies to achieve the research aim and results. | There are no significant limitations, which affect the growth development and functioning of the research. |
https://www.globaldata.com/store/report/uk-retail-market-analysis/ (Accessed: 16 December 2023). | The aim of the report was to provide a critical marketing analysis of the UK retail industry. | Statistical analysis was used to achieve processes related to the research. | The findings stated that leading market retailers such as Tesco, Primark, IKEA, Sainsbury have achieved remarkable achievement during the process of the research. | The limitations of the research further provided an understanding on the emergence of new technologies within business. |
Li, X., Xu, M., Zeng, W., Tse, Y.K. and Chan, H.K., 2023 | “Based on the results of text-mining analysis of consumer perceptions, this study identifies emerging topics in the UK grocery sector in the context of COVID-19 crisis communication and develop the sub-dimensions of service quality assessment into four categories: physical aspects, reliability, personal interaction, and policies.” | Text mining and social media crisis framework was used to identify the causes of sentiment change and customer perception changing affect the responses within the supermarket. | The findings stated that social media could be used appropriately to analyse customer behaviour and further develop the sub dimension and competitiveness of the business. | The studies are limited to access and analyse customer perception to these changes via digitalization of the supermarkets. |
Joseph, A., Potjagailo, G., Kalamara, E., Chakraborty, C. and Kapetanios, G., 2021 | “The aim of the report was to forecast UK inflation and its implication for monetary business and other policies affecting the macroeconomics of the retail sector” | Forecasting gains for aggregate inflation was used to study a set of macroeconomic factors | The papers revealed inflation as an issue which affects the macroeconomic aspect of the business. Non parametric and non linear methods could be used to address the momentum of inflation. | The limitation of the paper lies in its lack of identifying the industry and its role within the business. It explores the impact of the inflation and its influence over UK. |
Reinartz, W., Wiegand, N. and Imschloss, M., 2019 | “With the rise of e-commerce, mobile shopping, and most recently smart technologies, new competitors threaten this long-standing supremacy. Adopting a value-creation perspective, we analyze how digitization started the erosion of institutional retailing as the primary interface to the customer.” | Secondary data | There lies an implication for future marketing research emphasizing on the creation of value using the prospect of online retailing and internet retailing dynamic growth. Digitalization further improves the value chain of retail brands. | Limitations are existent due to the presence of secondary data analysis |
Pantano, E., Pizzi, G., Scarpi, D. and Dennis, C., 2020 | “The COVID-19 pandemic (that started in early 2020) is causing several disruptions in the short- and mid-term, to which businesses have to adapt. Some retailers have reacted to the emergency immediately, displaying a plethora of different intervention types. The authors aim to synthesize the challenges that retailers are facing during the COVID-19 emergency. We do this from the perspective of both consumers and managers, with the goal of providing guidelines on and examples of how retailers can handle this unprecedented situation.” | Secondary data analysis | The research stated that challenges such as lack of inventory, emergency and the pandemic crisis affects the demand of the retail brand. Online retailing has played an important role in shaping the brand and contributing to the health of the individuals. | The study is limited to secondary based information. |
Jin, B.E. and Shin, D.C., 2020 | “We analyze the nature of disruptive business-model innovations and the ways they disrupt the fashion retail industry. To that end, we examine three disruptors in the industry: born-digital brands, AI-enabled demand forecasting and product design, and collaborative consumption” | Secondary data collection was used for the purpose of the research | It revealed the adoption and use of social media and digital channels can improve the operation of the business in an effective manner within the UK. | It is limited to secondary data. |
Table: Secondary Data Collection
(Source: Created by Learner)
Discussion
Statistical analysis and development of the UK retail sector
It is important to note, that the UK retail sector have been subjected to a number of challenges and issues impacting the sector (Khan, 2015). As per the systematic analysis, it was predicted that the Covid-19 reshaped the experience of the retail brands (Nanda Xu, and Zhang, 2021). The online retail market in the UK is expected to grow and provide historic forecasts and market data for the business (Fildes Ma, and Kolassa,, 2022). The UK market fared well during 2022 and illustrates graphs and tables summarizing the various trends associated with the same. As per the analysis, the market is expected to grow by CAGR (compound and annual growth rate) 2.2% in the preceding years (globaldata.com, 2023). According to Sabanoglu, (2016) a change in the retail sales from September 2015 to 2016 highlighted the constant growth in sales and the decline in sales by 0.5% in the following year which implies that the market is subjected to challenges and competition. According to Pantano et al. (2020), the issues and challenges faced by the retailers in the UK increased after the pandemic, causing business disruptions causing retailers to develop intervention programs to combat the same. Similarly, based on the secondary information from the journals, it can be stated that retailers are expected to resort to online retailing due to the global recession affecting the business. Similarly, these aspects were also backed by Alvarez and Marshal (2019) highlighting the need for adopting innovative business models to combat issues and other factors affecting the growth and productivity of the business.
In the words of Li et al. (2023) digital era further heightened the transformation of the retail sector. According to Jin and Shin (2020), the retailers in the UK are dependent over the disruptive business model to improve the overall marketing aspect of the business. Similarly, according to findings by Joesph et al. (2021) inflation in the UK also compels the retailers to utilise a wide set of forecasting tools to predict the issues which might negatively impact and affect the functioning of the retail sector in the UK. In the words of Nyame-Asiamah and Ghulam, (2020), the role of CSR and sales growth achieved by the retail sector in the UK bears a definite link as some of the major development in the sector. The article further points out that donations and conducting environmentally friendly activities can have an influence on the sales growth of the retail sector within the UK. Similarly, Khan (2015) highlighted the growth of multi-channel marketing for the development of the online retail and business companies.
According to Mason and Jarvis (2023) the digital transformation and the multichannel marketing decision has paved the way for growth development and opportunities, which are related to the business. Several brands were able to use the aspect of transformation in the management of assortment, physical logistics merchandise, legal transaction and so on. These improvements were witnessed during Covid-19. It had an influence on the retailing functions of the business and has an influence on the functioning of the business. Therefore, the articles have highlighted the need for digitalizing omnichannel retail and growth which are significant for the process and the development of the company.
Issues impacting retail sector in UK post Covid
The UK sector has been subjected to a number of changes over the years impacting its growth and main development (Khan, 2015). It has adopted the significance of digital transformation and has further stated the impact of the UK retail sector in maintaining the competitive growth of the business. Similarly, it should be noted, that inflation and price issues, negatively impacted and affected the business. As per the articles one of the thematic analyses highlighted the preference of the retailers to remain competitive and to adapt to the growing need of the business. The research aims and objectives were significant in addressing the functions of the retail sector in the UK. The sale of product and services were also negatively impacted during the Covid leading to a number of changes and further heralding the use of digital transformation for the business (Joseph et al. 2021). In the words of Vijayakumar (2023) customer engagement and growth played an essential role in the development of valuable insights for the retailers and the vendors of the business. The problem of price and products had an impact on the methods and strategies that are related to functioning of the business. The retail sales faced issues during the Covid-19. The volume of the retail sales fell by 1.9% in the year 2020 (Hitesh and Singh, 2023).
The healthcare, food and grocery sector were affected due to the lack of proper management and its impact on the business (Galankis, 2023). It is integral to note, that customisation, sustainability, employee retention and maintenance between human resources and technology. The economic outlook of the UK retails sector has played an important for the competitive market (globaldata.com, 2023). In the findings by Hu and Olivieri et al. (2023) acceleration of structured markets is essential for the functioning of the business in a better manner. The functioning of the business sector has played an important role in the operation of the organization. The UK market sector has played an imperative role in the development of growth for the business. The competitive advantage of the company is further enhanced to bring about profit and growth in the functioning of the business.
The retail sector in the UK resorted to omnichannel retailing and are further focused over e-commerce, which has an impact over the operating system of the business (Khan, 2015). It is also significant to note, that the use of these methods and strategies of digitalization helped the companies to achieve and acquisition of the business. These sectors have played an important role in shaping the growth and development of the business
Main Development in the UK retail sector
Based on the systematic review of literature related to the UK retail sector, the online retailing and marketing has been popular for the business. The online sales increased after the pandemic leading to a growth of online purchase behaviour for the consumers. The use of retail technology gained prominence with the digitalization of the operations of the workforce. The issues related to the growth of issues such as branding and pricing can impact and affect the business. It comprises the ability of negatively influencing the operating system of the business leading to different issues, that might affect the growth and branding of the business. These developments in the UK retail sector emphasize on the emergence of digitalization and its impact on the service of the company and the business. The power dynamics between the consumer and the sellers are also subjected to a number of changes which affect the operation of the business.
Online purchasing and retailing has an influence on the growth of the business has an influence on the consumers. It is important to understand that the retail sector dynamics are important for the analysis of the technologies that are useful in boosting the competition for the different types of marketers in the area of business. One touch retailing has also witnessed a growth in the operation of the company. These operations are useful as it addressed the different types of retail segments, that affect and have an influence on the online purchase behaviour and growth of the consumer in the market. These market methods and strategies have an impact over branding and the competitive marketing growth for the overall business. Hence, these aspects are important and have an influence on the development of the UUK retail sector and its overall development within the business. It also stated the predominance of retail entertainment and its growth on business advantage.
The major development of the UK retail sector has been the digitalization of services, that are significant and important for the industries. The industry has been focusing on the development of initiatives, which are significant in boosting the operating system of the workplace. It is integral to note, that the role of these consumers is to enhance and integrate an overall sense of understanding for boosting their growth and capability and in developing the monetary elements, that are associated with the business. It is also necessary to highlight that these major developments have inclined higher shifts for the roles and the operations of the retail format to change over the coming years. The systematic review also highlighted the implication of marketing and its idea of competitive advantage for the development of the business and the growth of retail format. These were some of the main developments of the UK retail sector. It played a huge role in addressing the need for customization as well as enhancing the marketing of the business. These developments have an impact on the competitive area, that are related to operations marketing for the growth of the company.
Similarly, there are various tools and strategies that should be used by the UK retail sector in enhancing the entire requirement and competitive advantage for the business. It is important to understand that several of the retailers focus on the use of online and visual marketing to reach across to the marketer. It also highlights the overall role of these industries. Therefore, the major highlights of the UK retail industry is provided to analyse and asses the growth and development of these industries and it influence on the marketing systems of the same for the industry.
Methods and strategies adopted by the UK retail sector to acquire competitive advantage
There were several methods that were used by the UK retail sectors to improve and enhance its business operations. It improved its competitive advantage by focusing on the need and reorganizing and aligning the customization processes which can bring in fruitful growth and demand in the business. According to Reinartz Wiegand,and Imschloss, (2019) the use of online retailing and digitalization has played an important role in catering to the demand of the customer within the business. It is integral to note, that the UK retail sector further utilised marketing expertise and strategic experience to enhance their services. The redefining of a strong value proposition played an integral role in the assessment of the retail sector in the United Kingdom. The different operating strategies revealed that the current economic and sales condition has an influence on the functioning of the market and the business systems. The leveraging of data science was also used by the sector to improve data marketing and to enhance the role of customization and building customer experience. Most of these methods were focused on the boosting the business models (Pantano et al. 2020). The UK retail landscape can become competitive by adopting the use of digital technologies. Most of the articles and journals which were reviewed further focused on the post pandemic situation of the business.
The articles and journals reviewed on the case revealed that online services and multichannel marketing could improve the retail sector. According to Mason and Jarvis (2023) the retail companies aim to provide exceptional customer service experiences through personalised offerings and by meeting the need and requirement of the retailers within the business. The process of online retailing can also improve and enhance the services for the business. The use of the digital technologies are vital and fruitful for the growth and experience of the business in the field of retail sector (Jin and Shin, 2020).
The systematic literature review provided an understanding of the different issues that are faced by businesses in the post Covid platform. The qualitative studies and longitudinal experiments stated a future of the UK retails sector. It relied on the growth and advancement of digitalization for the functioning of the company (Joseph et al., 2021). The main developments in the UK retail sector is mainly digitalization and omnichannel retailing, which has an influence on the growth of the business. It is also dependent over the management of the economy through omnichannel retailing to increase the CSR and growth for businesses (Fildes Ma and Kolassa 2022). The above-mentioned articles, focused on the role of inflation and its impact over the economy. It highlighted the implication behind UK retail markets and its inclination towards the use of online retailing for the business in UK. Inflation has negatively impacted the business operations of retail companies in the UK which can lead to a number of issues in the business. As per the articles, UK brands such as Tesco. Primark and Sainsbury are transforming to online and multi-merchandising outlets in the UK (Collin-Lachaud, et al., 2023). It has played a major role in transforming the growth of the business, by addressing inventory issue and demand issue using the attributes and benefits of online retailing for the business.
Linking with Literature Review
The findings of the review can be linked to the literature of the study. As per evidence and analysis, there are challenges which have persisted during the pandemic leading to a loss of sale and profit for the industry. According to the review by Alvarez and Marshal (2019) online retailing has played an integral role transforming its operations. Based on the findings the literature review by (Mahmoud et al. 2020) highlighted the growth of marketing strategies such as personalised inventory management and growth in customer experience accountable for the growth of the business.
Research studies by Wilson (2015) stressed on the impact on the marketing effort and the branding system of the business through digitization. The online retailing sector has grown predominantly with retail brands opting for the use of AI products and services. The use of these services has been beneficial in improving the market situation and the growth of the business. Similarly, according to Ruiz-Real et al. (2018) from the literature review highlight developments by major retailers have focused on the use of data analytics to garner customer feedback regarding the production of goods and services within the business. Therefore, these processes of the studies were used in the achievement of aims and objectives which were necessary in the development of research aim and questions. The findings by Ayers and Odegaard (2017) played a vital role in highlighting the future of the UK retail sector by focusing over online services and digitalization for the company through the integration of ecofriendly and sustainable services for maximum customer engagement. Hence these aspects of the dissertation was used in the assessment of the research aims and objectives for the study related to the aim and objective of the study.
According to Mason and Jarvis (2023) the research study the highlights of the review and to comprehend the nature of digitalization over businesses. Retailers should maintain the CSR in order to improve the sales of the company. Most of the companies mentioned in the review have resorted to the use of online retailing for the development of their business. This is further confirmed in the research studies by Vijayakumar, (2023) emphasizing on robot retail also has an impact and influence on the attainment of online customers for the growth of the profit in business. It is necessary to note, that the retail destinations are working their way to boost the digital experiences and bring over growth and development for the process of the business. The retail sector is going through a transformative process and is boosting customer growth and values which can enhance the operations of the business. The aims and objectives of the questions have also stated that most of the ideas in the study are limited to growth and development of marketing which is significant for the entire study (Hitesh and Singh, 2023). The retail process is transforming by acquiring digital experiences which will be vital for the process and the role of the business. These areas of the review can be linked to mitigate the challenges and issues that were being faced by the UK retail sector. However, most of the aims and objectives related to digitalization were achieved in the process of the study.
The findings from the literature review further stated the importance of mass personalization. Customized items are significant for meeting with the need and processes of the retail brands (Khan 2015). It is integral to note, that several challenges and issues, related to marketing efforts were used to assess the role of the study and its impact on the UK marketing. The marketing processes of the businesses are digitalizing and is being used for the attainment of the research enquiries. These areas are necessary for the purpose of developing the retail marketing and brands for the company.
Therefore, it can be summarised that the retail sector is competitive in nature and negatively affects the brand. It has the ability of personalizing products and services to the functioning of the company (Hu and Olivieri, 2023). It is necessary to note, that most of these services were highlighted to provide an understanding of the review and its influence on the marketing aims and objectives, which are a part of the dissertation. These major findings can be linked to the systematic review and analysis of the review.
The literature review also focused on the importance of experiential retail and its influence on the market. It raised an emphasis over the consumer shopping habits, behaviour and retail expectation of the business. Most of the businesses made the use of eco-friendly materials to comprehend the role of the Covid-19 pandemic and its implication over the industries. Similarly, it should be noted that most of these reviews focused on the different type of challenges and issues such as loss in sales, low profits and so on affecting the nature and the capital of branding and the business for the company.
According to the studies by Collin-Lachaud et al., (2023) retail branding heavily focuses over the development of digital services for business. It is necessary to understand the business and marketing implication of the company. The branding and the value of a business also has an influence on the customer satisfaction and its significance within the industries. It is also necessary to note, that the pandemic focused on the transformation of sales and development. Robo retailing, the use of sensory experiences and so on gained the growth of the business. These processes and aspects had an influence on the management in the growth and demand for goods and services during Covid-19.
The discussion further highlights the importance of using the AI in maintaining the development of customised and personalized retail. It is important to understand that the inclusion and the exclusion criteria stated, that the retail outlets are at the peak off transforming from their diminutive space into an online space. It is important to understand that the idea of these sensory experiences have an influence over the marketing aspects, which are related to branding and the growth of values which are necessary for the functioning and development of the business systems.
The issues which negatively impacted the business were the high and rising cost that affected the retailers. The retailers should be competitive and adapt with the changing need of the business. It further portrayed that consistent labour shortage also remained as one of the factors, which affected the marketing systems of the UK retail sector. It has an influence on the functioning of the business and has an impact on the growth of opportunities, that are vital for the growth of the study. Therefore, these retail strategies further had an influence on the future and the growth of the business for improving the aims and objectives of the research.
Therefore, the research aim and objectives of the dissertation have been achieved. The retail sector in the UK will be enhancing and developing its latest use of technologies for serving its customers It will further boost and elevate its sense of customer satisfaction by improving the benefits of the business. The development of these retail strategies further highlights and emphasise on the nature of the retail sector and its influence on the growth of these marketing mechanisms for the business. These limitations of the study also stated the relevance of the competitive landscape and its significant role in enhancing the systems of the business and the markets.
4.6 Summary
Based on the systematic findings Nandu et al. (2021) states role of the pandemic has also played vital role in reshaping the retail companies. The acceleration of e-commerce through digitalization has played a significant role over the retail companies. Similarly, Li et al. (2023) backed the findings stating the takeover of social media over the retail companies in the UK due to the onset of the pandemic and a change in governmental regulations responsible as the main developments of the UK market. The provision of excellent services to cater to the need of the customers is a criteria which is being worked upon by the retailers to maintain its competitive advantage in the market.
Similarly, according to Jin and Shin (2020), unprecedented challenges and the rise in emergent technologies were also raised as major concerns for retailers in the UK. The article further stated that retailers should utilise innovative business models such as the disruptive models which assisted several brands to improve within the UK digital sector. Hence, the systematic literature review provided a list of journals and academic articles highlighted the main developments of retail sector in the UK and the major ways of retaining competitive advantage within the UK markets.
Chapter 5: Conclusion and Recommendations
5.1 Conclusion
The research deduced that internet retailing and online retailing is significantly higher in meeting with the aims and objectives that are significant to the study. It also presented a list of literature findings highlighting that most of the brands consider the use of online and technological services to improve their competitive advantage in the country. The study by Jin and Shin (2020) stated the importance of disruptive innovative business models in improving customer engagement and in catering to diverse needs. Oosthuizen et al. (2021). highlighted challenges that are currently being faced by the UK retailers with Brexit policies, new immigration rules and business policies affecting the UK retailers. The literature review and the research methodology played an important role in the assessment of the areas, that are related to the research aim and objectives of the study. Hood et al. (2020) highlighted
issues such as reduced household budget due to high inflation potential recession and reduced wages negatively affected the UK retail sales as highlighted in the findings. The problem of reduced retail footfall was also a matter of concern for retailers such as Aldi And Lidl as they faced customer attrition. The literature review also presented studies by Verhoef et al. (2015) stating that concerns revolving around sustainability, demand for reduced carbon emission, boycotting plastic waste should be considered by the retailers in UK. Ayers and Odegaard (2017) highlighted the concerns of the customers regarding the different aspects such sustainability which has an influence over the development of the business. The sustainability concerns were discussed within the retail sector in the UK. Hence, these concepts were also studied and taken into consideration for developing a critical and concrete analysis on the impact and the influence of online retailing in the UK.
The research methodology used systematic literature reviews for the assessment of the research aim and objectives. The justifications for the same were provided to illict an understanding on the impact of the advancements in retailing within the competitive landscape in the UK.
Based on the reviews for the systematic findings Wilson (2015) also revealed the importance of online retailing and its influence on the marketing operations and the development of the business. The advancements in technology and the use of e-commerce played a crucial role in the development of the research findings and the growth of retail sector in UK. The review by Nanda, Xu and Zhang (
2019) highlighted the impact of the pandemic on the retail sector and their inclination towards e-commerce and retail technology. Hence the findings by Alvarez and Marshal (2019) research study also stated, online retail stores were highly considered by the Gen Z and a useful constituent in the development of marketing. It played a crucial role in addressing the needs of millennials through the development of business models for retaining competitive advantage and growth for the company.
Therefore, the findings of the research established that marketing efforts have an influence over the marketing system of the companies. It is necessary to understand that these businesses also can improve by integrating online retailing to improve branding for the purpose of the study in an effective manner for the same. Therefore, these areas provide a critical and end to end understanding on the role of the retail sector and its influences over the functioning of the same.
5.2 Linking with Objectives
The dissertation was linked to the study and achieved the research aim and objectives. The four objectives were achieved through the previously reviewed peer reviewed journals and articles as well as the use of systematic literature review. The first objective was achieved via the literature after the investigation and the assessment of the issues, that surround the UK market. It has an influence on the marketing systems that are relevant for the process of the business and has an impact on the functioning of the same, for the purpose of marketing The second third and fourth objective was achieved using the systematic literature review for the study. The dissertation analysed the different research questions and also integrated the use of the different type of marketing mechanism for the business. Hence the research question and the objectives shaped the findings of the research and shed light on the areas of the same for the process of the study in a better manner. The growth and adoption of digital and mobile technologies have an influence on the operation of the company and in delivering significant growth for the purpose of the business. These areas were highlighted and used in the comprehension of significant developments that are related to the retail sector.
5.3 Recommendations
It is recommended for the retailers to integrate and adopt the online retail strategies and marketing methods to improve and enhance the operations of the business (Kumar Anand and Song 2017). The retailers should work on enhancing the competitive advantage which of the through visual merchandising online sales and so on to improve marketing efforts for the business. The main development within the business should help the retailers acquire a sense of understanding towards the various methods that can be adopted by the businesses in securing the functioning of the same. It is recommended for the companies to integrate AI and develop their retail technology services (Shankar et al., 2021). It can e used to enhance sales for the business and develop digital revolution for the company. Therefore, it is important for the businesses to develop a concrete understanding of the areas, that can be used to bring about changes in the marketing and the functioning processes of the same. The use of retail technology can further enhance the business and highlight the areas, which can be worked upon to improve the online merchandising and sales of the business. These processes of developments can be made into the retail brand to enhance the marketing of the business in a better manner.
The use of technological advancement and so on can bring about significant changes in the retail companies (Bijmolt et al.,2021). The systematic literature review highlighted the various ways that the company can improve the market operations of the businesses. Several of the technological advancements which were infused within the retail sector can be used to bring about changes and growth in the operation of the business in a better and viable manner for the companies. Hence, it is important for the retailers to focus on the development of their marketing efforts and principles within businesses for the operation of the UK retail sector.
5.4 Future scope for research
The future scope of the research lies in the assessment of the UK retail sector and the various methods that can be adopted by the retailers to acquire a competitive advantage in the market. It will assess and study the different types of online marketing strategies which can be used to improve the operation and the significant functioning of the retail brands within the UK. Therefore, these areas of the study are significant in addressing the aim and the objectives, that are linked to the process of the dissertation and has an influence on the marketing efforts for the company. Hence there lies a future for the growth of the retail industry.
Leave A Comment