Research Report of Retail Industry Assignment Sample

Introduction

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Analysing market conditions of the business internet advertising is an important process of high brand awareness. According to the report on the retail industry of Australia almost $3635 has been increased due to advertisements and online sales satisfying most of the customers and dominant individual retailers. The aim and objectives of the study are to modify individual retail outlets to establish the business performance of the organization. Individual retail industries are trying to communicate with the customers through online marketing, which is the easiest way to develop retail business in Australia. Individual retail industries are using great strategies to enhance business growth along with the organization's profit.

Reason for choosing the retail industry

Individual customers of the business organization are trying to increase customer satisfaction rate by using innovative strategies and advertising is the main way to develop the retail business industry. Most business organizations are trying to develop retail supply chain management that can able to meet the potential requirements of the business. Including more shopping centres and developing online opportunities is the main way to improve the supply chain of the business. The Australian retail industry is recognizing customers' choices and almost 10.7% growth has been increased due to the same reason. Individual retail companies are trying to maintain a global framework and generated sales almost increased by 559 million. As per the study of Umarov et al. (2019), the online services are gradually increased by the customers' choice and that can able to meet the market target of the business. The retail industry of Australia is trying to identify major competitors and includes some market trends to attract potential customers.

Sales trends over the last 20 years

The sales trends of the retail industry are depending on investment which is necessary for expanding organizational growth. The long-term development of the business is trying to identify the reason how to encourage individual people during a critical situation and also increase sustainable business conditions. The Australian retail industry are depending on the key contributors which are efficiently increasing the sales volume of the business. In the year 2000, the sales volume of the retail industry is almost $12500 billion and that can be increased due to advertisement and to increase in the supply chain of the business (Salesforce.com, 2022). The incremental sales volume of the business is gradually increased due to customer satisfaction rates. Value-based selling is important which is boost sales volume and that can increase outsourcing sales in the retail industry of Australia.

In order to, identify the major reason for sale increment is necessary to know the market trends of the industry. More emphasis on value, quality, as well as customer satisfaction, is important which is creating greater weight for direct motivations, that involve basic features in the future. Sustainable technology, as well as market growth, is potential and that easily minimizes the major trends of the business. For sporting goods, individual retail industries are trying to considered the market trends and that can minimize the potential requirements of the market. Previous 20 years' sales volume divides by the current year's sales volume to identify the decimal sales volume of the retail industry. The Australian retail industry are depending on the key contributors which are efficiently increasing the sales volume of the business

Explain the potential customers of the industry

Getting an extra discount to the customers and need based on the basic requirements of the customers are increase sales volume retail industry. There are four types of customers such as relationship buyers, price buyers, poker buyers and value buyers who are considered potential customers of the business. Sometimes new customers are involved in the business due to high-quality services which are always followed by the individual retail industry (Rethel, 2018). The capital market of the retail industry is depending on market development which is attract important customers into the business. Financialization is necessary to develop the market segment along with the customer satisfaction rate. Sometimes govt. Regulations are creating major barriers to analysing market trends and organizations are trying to increase substitute products to attract new customers in the industry. Potential customers of the company usually refer a person for new launching products.

Major competitors

Competitors include other departments or stores which especially hamper the business performance of the retail industry. In order to, understand the choice of potential customers essential to know competitors' products and individual organizations are developing business demand by using online services. Sometimes Australian retail industry are focusing on social media marketing which increases the basic growth of the organization. Home furnishing stores and direct-to-customer businesses are considered major competitors are using POS software to increase cashless services which is attracting more customers to the business. Incentive, as well as improved offer value, is important to improve online services that easily attract more customers in the business (Pan & Mishra, 2018). Individual retail competitors are trying to serve innovative products to directly increase the sales volume of the business. The stock market development is depending on economic growth which is collected from empirical evidence from Australia.

Substitute products for competitors

Create unique product offerings are able to satisfy individual customers and who are attracted to the retail industry. Customers' substitute products are a common reason which probably increases the sales volume of the common industry. Sometimes substitute products are serving the same purpose to the individual organization which is creating more commodities in the market. Getting more commodities allows potential customers to demand other products and that analyse the market demand of the business (Tien et al. 2021). Most business organizations are trying to identify the consumer's demands after understanding their requirements which is necessary to identify the negative correlations against the business. In order to, increase market demand of the business is important but sometimes competitors reduce business performance by creating innovative strategies. According to interpretive market research CRM system development is important and can identify and attract important customers in business.

The importance of Govt regulations and analysis includes the market trends

Find out volunteer opportunities and temporary assignments are described as market conditions that easily attract new customers. Due to some reason customers are satisfied with the specific services and that logically entered the market. Re-examine depending on past performance is important to increase the market conditions of the business. Industrial experience is potential which is gained future opportunities by the performance appraisal system and that attracts new customers into the market (Moisander, Närvänen&Valtonen, 2020). In order to, market analysis is important and able to increase the basic demand of the business.

Government regulation

The retail industry sometimes includes traditional sales by using primary responsibility to increase the sales volume of business. Sometimes governments are trying to promote some rules and regulations which is improve the fiscal policy of the retail industry. Sometimes Australian retail industry is trying to develop, market segmentation that is convenient for individual customers and attracts them for sales increment (Liyan, 2018). The retail regulations are protecting customers from unwanted threats which sometimes minimize sales competition among individuals. In order to, the intellectual property act 1997, is applied by the govt. To enhance customer experience and protect public property perform the unwanted threats. Sometimes legal issues are involved which are currently faced by the individual employees of the industry. The empirical analysis of the retail industry describes the market regulations along with the government laws which is protecting individual employees and customers from major issues

Industry analysis

A retail management software development software platform is important to analyse public reactions during a critical situation. Approximately $349.9 billion increase due to examining consumers characteristics which is necessary to analyse the market conditions of the retail industry. Identify customer satisfaction based on the market analysis but there are some positive demands in the organization which is trying to analyse the market segmentation which depends on customer satisfaction (Kfoury, 2021). In order to, identify the ability of a new market is necessary to minimize the difficult situations. Emerging market segmentation is important and can meet workplace culture which is necessary to increase business demand in the market

Conclusion

Based on the above discussion it can be concluded that the retail industry of Australia depends on the key contributors of the country. The retail business includes traditional sales, commission-based selling and online retailers trying to improve the market presentation due to the same reason. Almost 1.3 million of sales volume are increased during the same time and that can enhance the employability skills of individual employees. The latest trend in the market is mandatory which is identifying customers' requirements and that can able to accelerate customer loyalty programs. The market includes those retail activities and that usually increased customer satisfaction along with their purchasing power. Nowadays the retail industry is growing and that approximately increases by almost 10% of customers in the common industry. The retail industry is becoming saturated and more stores are addressing specific customers to increase their positive demands

Reference list

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