Uk Riots on Retail Industry
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Current Business issues (LB5214)
Business report
UK Riot Impact on Retail Industry
By Mr Haridas N Sathe.(12621657)
Letter of transmittal
Mr. Haridas N Sathe
Master in Business Administration
And Information Technology
James cook University Brisbane
Date : 4 Sept 2011.
Ms. Theresa May
Secretory of Department for the
UK Home Ministry
Subject: UK riots Impact on retail industry details and some overview
Dear
I am Haridas N Sathe student of Management of Business Administration and Information technology from James Cook University Brisbane. Find the enclosed copy of academic research report on UK Riot Impact on Retail Industry. Purpose of this report is to present the finding based upon research and provide recommendations concerning how best to proceed in the future.
The findings of the report demonstrate that UK riot impact on Retail Sector And Its Direct impact on the Share market Tourist industry.
Thank you for your valuable time.
Yours sincerely
Mr. Haridas N Sathe.
TABLE OF CONTENT
1. Executive summary
The reason behind making this report is to study the impact on the retail industry of UK after the riots from 6th of August till 10th of August 2011 in London districts and some cities and towns in England which went through rioting, arson and looting. This caused a major impact on the retail industry where many stores were looted. This report is done on the basis of internet information and news collection from variety of sources.
It has been observed that one in 10 leisure and retail stores have been affected by these riots. Many tourists have been deterred from coming to England since the situation is very critical. This affected the economy account for $96 billion of the GDP which is 8.6% of the economy.
The overall conclusion of this report showing that the current condition of the UK retail industry is not permanent. This industry is at heart of the steadily and rapid growing communities. Perhaps most damaging influence should be demise of sell which are impotent to improve from the riots, the cost of which will reverberate through the innate groups. It is suggested that stack owner will rebuild the confidence and recuperate the loss.
2. Introduction
Retail Industry is one of the most rising industry in the world. The retail industry is an area of the economy where individuals and company or firm tied up in the market to sell the finished products to end user and consumer .It is very dynamic industry always changing to petition to buyer and contend with competition.
The retail sector is divided in two basic form of retails: wholesale and specialty. Wholesale retailers are also known “Big Box” retailers or department stores company and firm likes Wal-Mart and Target are the specialty retailer .Again It can be divided in to smaller many sectors and subsectors. This retails shop sell the products in discounted prices. The specialty of this shop is the serve very limited range of product but more effectively, such as they offer to customer electronics and stationary product in Best Buy or they directly supply retails such as staples.
Retail is major reserved employer sector in U.K. The jobs available in retail industry is around the world as well as regionally and countrywide in U.K. There are 2.9 millions people are working in this sector, it associate 11% of the people workforce in U.K. In 2007 retail industry was down because of recession but retail sales were £283 billion in 2009 and it was growing. In 2010 there were 12,270 extra job opportunity produced by retail industry, It was 2.1% more than previous years.
It is very famous for UK customers for buying their merchandises online and this sector of the business has seen sustained progress since earlier the 2007 recession. There are 150,000 online retail business and around 600,000 British jobs available in the UK. There are support e-retail in the retail business. Yet, e-retailing currently only contributes for less than 7% of total retail sales but this is expected to grow.
Many graduate opportunities are available across the sector. And also