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Papers > Business > retail sector UK
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retail sector UK |
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Current state of the sector It is important to study the retail sector as a whole and to consider any recent or possible future developments within it, before making an informed decision about how best to enter into it. The UK currently has over 215,000 VAT registered retail businesses operating from more than 322,000 outlets and overall sales in 2002 of around £235 billion. The retail sector also employs 11% of the total UK workforce (2. ... Looking specifically at the supermarket sector, Tesco is the clear market leader, and looks likely to remain so, with ASDA and Sainsburys battling for second place. The top 5 UK supermarket chains are summarised below. ... of UK stores 730 463 258 480 119 Turnover £25. ... 92bn * not available separately from Wal-Mart Current/recent trends in the sector The retail industry sector is currently undergoing a relatively low period due to a number of contributing factors. ... FINDINGS/INFORMATION Rationale for the new venture We feel that an acquisition of Safeway is the best opportunity for your proposed company to enter the grocery retail market. ... It has survived many challenging times in the grocery retail sector. ... The interest shown by the other major firms in the grocery retail market means that a merger seems possible in the future if that becomes beneficial progression. ... The increased competition has meant that although the growth rate of UK food retail sales appears low, there is real volume growth within these figures as the UK market has been affected by negative inflation in the food sector . ... Verdict research revealed that ‘the share of total consumer retail expenditure claimed by food, drink and tobacco declining from 49. ... Yet the budget chain has a UK market share of just 1. ... By the end of this year, Safeway plc should have 340 colleagues who will have achieved the NVQ in Retail Operations. ... An integral part of this is the NVQ Level II in Retail Operations, which complements the other course modules. The course covers Merchandising and Display, Stock Management, Customer Service, Health & Safety and Working Relationships and aims to develop your all round retail knowledge and experience. ... The future of the sector The future of the sector is uncertain, with evidence showing that the sector as whole may face a short-term continuation of the steady decline shown in the past few months. ... A UK economist with the HSBC said ‘while we are negative on the medium term outlook for the consumer…we would expect the survey to bounce back in the forthcoming months. Issues that affect the future of the sector are briefly discussed below as well as examples of how firms are dealing with them. The tax rises, which are expected to be announced in the Chancellors upcoming budget, have been met with concern by the British Retail Consortium (BRC). ... Other factors that will affect the retail market in the next few years is the introduction of an estimated £8bn worth of new payroll taxes in 2003. ... Recent changes in the retail industry sector include diversification into other markets. |
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Title: retail sector UK
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