The Retail Category – (Part 1, a.)
Issues affecting the Retail Industry – (Part 1, b.)
The economic crisis and the impact on the Electrical Goods sector – (Part 2)
Sustainability and the impact on the Electrical Goods sector – (Part 2)
The rise of the Internet and the impact on the Electrical Goods sector – (Part 2)
Critical analysis and recommendations for retailers in the Electrical Goods sector
* The Retail Category
The Retail Category I have chosen is ‘Electrical Goods’. This category consists of retailers who specialise in: Computer hardware; computer software; white goods; brown goods and audio-visual. I have …show more content…
However, “Banks and building societies cut lending by a net £2.425bn between October and December 2012” (Sky News, 2013) which shows that businesses are still falling victim to the ‘credit crunch’ which has caused the downfall of many big-name retailers such as Woolworths in 2008, “one of the defining events of the credit crisis.” (Hall, 2009).
* Sustainability and the impact on the Electrical Goods sector
Sustainability is a major issue for all sectors of the retail industry but can be especially difficult to manage in the electrical goods sector due to the nature of the products that are produced and the pace that the industry is moving. These factors impact the ability to maintain a ‘green’ business model which encourages sustainability throughout all sections of the business.
As discussed earlier, consumption needs to be addressed in order to maintain sustainable economies and societies. For the electrical goods sector, environmentally friendly or ‘eco’ attributes can be important in purchasing decisions but are not always at the forefront of a customer’s mind. A study by WRAP (Waste and Resources Action Programme) (2010) suggested that