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Introduction to UK Supermarket - Term Paper Example

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The present term paper "Introduction to UK Supermarket" is focused on the fastest growing sector of the UK economy that has made a great contribution to its economic development. Reportedly, the supermarket industry employs more than 1.1 million people…
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Introduction to UK Supermarket
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Download file to see previous pages Li (2008) and Vasquez-Nicholson (2011) emphasized that Morrison PLC is a dominant brand in the UK supermarket industry as it derives its competitive edge by doing STEEPLE analysis frequently. It has successfully achieved its target market size by exploiting all strengths and availing opportunities present in its external environment.
Every market is significantly impacted by both micro and macro environmental factors, but macro environmental factors have more influence on operational activities of a business (Jarett, 2012). Each factor of STEEPLE analysis with its relation to the UK supermarket industry is discussed below:
The current trends of consumers in the UK market depict that they are moving from one stop shopping to a bulk buying mode as there are various social changes happening in the country. Supermarkets have availability of various non-food items which are usually on sale in the market. There have been demographic changes because there is an increase in old people, the number of female workers is increasing, and there is a significant reduction in homemade meals (Davis and Relly, 2009).
There is more emphasis on the private label share of every business mix, efficiency in supply chain, and improvements in operational activities so that the overall cost of business is reduced. Most of the retail giants in the UK are now shifting to local suppliers for their purchases and stock requirements (Vasquez-Nicholson, 2011; Waterman, 2007). In addition, consumers’ demand for products and services has changed because of their social conditioning along with their beliefs and attitudes (Lyan, 2007).
Technological developments have enhanced the service level of supermarkets in the UK as they have benefitted both consumers and companies. ...Download file to see next pages Read More
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