Retail Market Analysis Vancouver Trading Incorporated Case
The retail sector of the United Kingdom has a value of 8% of the total gross domestic product of the country. The different retail industries in the United Kingdom have developed immensely in all areas such as home wear, health, and beauty retail industry, electrical goods, garments industry, e-retail, furniture and floor coverings and other such types of retail sectors. Northern Ireland is one of the regions where the tremendous amount of retail growth has been observed. Vancouver Trading Incorporated is planning to start its retail operations in the United Kingdom in the industry of white goods. The findings amp. analysis section discussed the recent retail trends that have been observed in the United Kingdom market during the last few years, the competitive climate of the white goods organisations are analysed, the importance of meeting up to the market developments has been highlighted in the market development heading, profitability amp. consumer spending headings discusses about the aspects on which consumers are willing to invest their purchases on white goods, the consumer behavior aspects are also discussed and following this the advice is given to Vancouver Trading Incorporated for making their investments in the United Kingdom retail market of white goods. In the white goods retail industry, the home appliances, and the dishwashers are the main products that have a high share and high value of the total market of the white goods industry. The economic and social state of the United Kingdom is extremely important factors as they may directly impact the white goods retail industry in the market. The demand for white goods is directly related to the housing market of the United Kingdom. The more the consumers plan to shift in houses the more the market will increase for the white goods as many household appliances are needed for doing different chores of the house.The housing market and economical state affect the consumer purchasing power of white goods. If customer’s purchasing power is low then they may opt for cheaper goods and also the white good products will be bought more if there are more people moving into the houses where there is a requirement for white goods.