Understanding Retailing Assignment 1
Dan Shahrezaey
Understanding Retailing
Assignment 1
Date of Issue- 10/01/2011
Submission Date-18/02/2011
Tutor- Mike Delaney
Task 1 P1
A retailer is a person that buys goods which are sold in considerable vast quantities. The items are bought from the manufacturers and they are then sold to consumers. The retailer’s bulk buys their items and breaks down into quantities that are deemed suitable for the customers to buy at a larger price than the cost.
The retail industry that exists in the UK is huge because in the year 2010 the sales were recorded at being over £293 billion.
The reason why this particular industry is important to the British economy is that in 2009, the UK retail sales were well advanced into plus £285 billion and obviously it’s a lot of money and it shows that more than a 1/3 of the spending that is done by the consumers has developed through the shops. The retail sector generates 8% of the Gross Domestic Product of the UK. In 2010 there were 286,680 retail outlets in the UK available. This is further proof that the retail industry is very strong.
The retail industry in global aspects has be recognised as being relatively bigger because there are emerging markets like China who have expected a growth in their profits for 2010. However there has been improvement to help the consumers in the USA. However the recent lack of wealth is expected to lower the spending of the consumer.
A continent called Asia makes the realisation of having one of the greatest growth prospects for the retailers in 2010 to look upon. In India, garments, fashion accessories, cosmetics and white goods are expected to continue the uptrend of 2009 in 2010 and beyond.
In Europe, there are household appliances, which have growth potentials that are considered to be large. There are over 180 million appliances which are 10+ years, and they’re still usable and in perfect condition. The appliances offer a huge amount of potential for the newer energy saving
Understanding Retailing
Assignment 1
Date of Issue- 10/01/2011
Submission Date-18/02/2011
Tutor- Mike Delaney
Task 1 P1
A retailer is a person that buys goods which are sold in considerable vast quantities. The items are bought from the manufacturers and they are then sold to consumers. The retailer’s bulk buys their items and breaks down into quantities that are deemed suitable for the customers to buy at a larger price than the cost.
The retail industry that exists in the UK is huge because in the year 2010 the sales were recorded at being over £293 billion.
The reason why this particular industry is important to the British economy is that in 2009, the UK retail sales were well advanced into plus £285 billion and obviously it’s a lot of money and it shows that more than a 1/3 of the spending that is done by the consumers has developed through the shops. The retail sector generates 8% of the Gross Domestic Product of the UK. In 2010 there were 286,680 retail outlets in the UK available. This is further proof that the retail industry is very strong.
The retail industry in global aspects has be recognised as being relatively bigger because there are emerging markets like China who have expected a growth in their profits for 2010. However there has been improvement to help the consumers in the USA. However the recent lack of wealth is expected to lower the spending of the consumer.
A continent called Asia makes the realisation of having one of the greatest growth prospects for the retailers in 2010 to look upon. In India, garments, fashion accessories, cosmetics and white goods are expected to continue the uptrend of 2009 in 2010 and beyond.
In Europe, there are household appliances, which have growth potentials that are considered to be large. There are over 180 million appliances which are 10+ years, and they’re still usable and in perfect condition. The appliances offer a huge amount of potential for the newer energy saving
Bibliography: Book sources: Publisher: Edexcel; 3RD edition (24 May 2010) ISBN-10: 1846906342 -BTEC Level 3 National Business Student Book 1 (Level 3 BTEC National Business) Online sources: Class notes written in lessons Referenced information on College intranet (GO!)