Plan and Management of Mark and Spencer in View of Retail Industry in the 21st Century

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1.0 Introduction and Background 1.1 Overview of Online Retail Industry in the 21st Century The wake of the internet has revolutionized the retail industry a great deal in the 21st Century. The selling of retail products has moved from retail shopping experience to home-delivery services. The internet has therefore shifted the shoppers experience to a whole new level of home purchase by the click of a button. This online retail concept has its pros and cons as well. The ultimate advantage is that the retail stores are receiving a global presence thus cutting off the national or international boundaries thus having a global print at the click of a button (Krafft & Mantrala, 2006). On the other hand the most compelling limitation is in the logistics of products delivery. This means that though the retail stores may have a global outreach the delivery of single unit products may be a challenge due to the shipment costs as well as country-specific bound shipment regulations and policies. According to (Thompson, 2013), the United Kingdom retail stores on Ecommerce were projected to pass the 1 Million Euros Mark, meaning that the internet users have increased up to 3.5 billion from just 2.2 billion, thus representing a 20% overall growth. This exponential growth is expected to increase over the next three years. According to Boston Consulting Group (BCG) due to the paradigm shifts in the retail industry to the internet, provides for a £2.7 Trillion opportunity, as they suggested that the internet users will increase by 3 billion by the year 2016, and already the UK is seen as a global frontier for its total Gross Domestic Product (GDP) has its 8.3% stake from online trading. 1.2 Background of Mark and Spencer The company started in t... ... middle of paper ... .../article/newSTR_66.htm) Pratley, N. (2013). Marks & Spencer's deadline to find wow factor looms. The Guardian. (http://www.theguardian.com/business/2013/may/14/marks-and-spencer-spring-collections) Recklies, D. (2001). The Value Chain. Food and Agricultural Organization of the United Nations (FAO). (http://www.fao.org/fileadmin/user_upload/fisheries/docs/ValueChain.pdf) Richards, L. (2012). How to Apply the Five Force Model in the Retail Business. Demand Media. (http://smallbusiness.chron.com/apply-five-force-model-retail-business-3297.html) Suttle, R. (2012). SWOT Analysis for Retail. Demand Media. (http://smallbusiness.chron.com/swot-analysis-retail-3344.html) Thompson, J. (2013). Marks and Spencer: Under pressure to deliver. Independent UK. (http://www.independent.co.uk/news/business/analysis-and-features/marks-and-spencer-under-pressure-to-deliver-8611987.html)

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