Retail Industry in the UK Essay Example | Topics and Well Written Essays - 1500 words

sell Industry in the UK - Essay ExampleIn the year 2010, the industry was responsible for the creation of redundant 12,750 full time jobs and the summarise weigh of jobs gaind by 2.1% in comparability with the previous year. The total number of people employed by the industry in the year 2010 was 2.9 million which roughly accounts for the 11% of the total workforce in the UK. From this fact, it can be inferred that the sell industry holds a very spectacular position in the economy of the UK. From economic activity to employment, the retail industry affects a number of factors in the economy of the UK. In 2010, there were 286,680 retail outlets in the UK and the number has grown in the year 2011. more than than a third of the total consumer spending the region goes through shops. Retail industry generates around 5% of the Gross Domestic Product of the UK. Consumers are also taking interest in shopping everywhere internet and the gross sales over internet account for around 7% of the total retail sales and the number is estimated to grow significantly.FINDINGSRetail industry is one of the strongest industries in the UK. The industry has witnessed significant growth in the recent years. Every industry is influenced by certain economic and social factors and in case of retail industry the most important economic factor is inflation. With the rise in inflation, the prices of consumer products also rise. Thus the consumers pause from buying and the boilersuit retail sales go down. Other social factors that whitethorn influence the retail industry may be the prevailing trends in clothing and the weather conditions. Such are the indicators that aid the retailers take locomote proactively in order to save themselves from any significant impact. The following review of the retail industry in the UK would also focus on the impact of such economic and social factors in the last fag end of the year 2011.... With the rise in inflation, the prices of consumer p roducts also rise. Thus the consumers refrain from buying and the general retail sales go down. Other social factors that may influence the retail industry may be the prevailing trends in clothing and the weather conditions. Such are the indicators that help the retailers take steps proactively in order to save themselves from any significant impact. The following review of the retail industry in the UK would also focus on the impact of such economic and social factors in the last quarter of the year 2011. REVIEW OF RETAIL INDUSTRY FOR THE LAST QUARTER OF 2011 The start of the last quarter of 2011 was lessen for the retail industry in the UK however the sales grew significantly towards the end of the quarter. There were a number of economic and other factors responsible for the trend of sales observed in the last quarter of 2011. star of the most important factors behind this trend of sales volume was Christmas which always impacts the retail industry positively. A boost in the i nternet sales was also witnessed in this quarter. Following is the month by month review of the retail industry in the UK for the last quarter of 2011. Retail Industry in October 2011 The overall retail sales volume increased by 0.6% in the month of October as compared to the previous month. This increase was higher than what was expected by the economists. The absence of any social factors to cause an increase in the sales volume led the economists to estimate a decline in the sales volume in comparison with the previous month but the sales volume increased. The benefit of this increase in sales was enjoyed in general by the small retailers while the large stores had to lose their overall sales