DL3134 Retail Environment

This unit is designed to give you an understanding of the development of the retail industry in the UK and how it operates within a dynamic environment. Section 1 examines the value of retailing to the UK economy and how it has developed over the last 40 years. Theories of retail change are identified, the development of IT in retailing and the dominance of the retail sector by multiple retailers are analysed. Section 2 is concerned with the different types of retail organisations that exist and how they use the elements of the retail marketing mix to gain an advantage over their competitors. The relevance and importance of market segmentation, targeting and positioning is studied to provide an insight into how retailers focus upon key groups of customers. Section 3 focuses upon all of the external influences that are brought to bear on the retail industry. These forces include social, political, legal, economic, technological, environmental and competitive influences. 1. Explain the development of the retail industry. 2. Evaluate the application of the retail mix by different types of retailers. 3. Analyse the changing retail environment