Assignment Sample on 4BUS1156 Business Technology Trends
1.0 Introduction
This part of the assignment will be analyzing a data set collected by a company for a retail organization in the month of May 2020. The retail organization entails spelling clothes and garments for males and females between the age of 15 to 55 years. The company sells mostly two women in the given age group. The company has several shops which are located in various locations across the United Kingdom. Analysis of the research and data set is to find the customer behaviour the outbreak of novel coronavirus disease for covid-19. The aim of the analysis is to forecast the sales of the organization in the coming 12 months and the effect of sales due to the outbreak of the Pandemic. The research will be conducted based on the collected data set and secondary sources of data on identical observations in the business sector or retail sector for more understanding of the effect of the Pandemic on sales of the retail organization.
2.0 Task
According to the analysis of collected data and secondary data collected from the work of researchers on the similar implications of covid-19 on the sales and performance of businesses in the garment industry, we can say that a transition has been observed from the shift of employees working from the real workplace into the virtual workplace (Bhatti et al., 2020). However, in the retail clothing sector, the clients shop by selecting and trial the clothes, which is not possible through an online medium (Willcocks et al., 2020). Many retail businesses are promoting their websites and encouraging their customers to use the online order method to place an order, and the companies are also providing services to the clients in case of replacement of the product any other services (Parker et al., 2020). Small retailers do not have the resources or the employees to provide services to clients as big retailers. The companies are using video conference applications to communicate with the team and make strategies for handling the abbreviation in the performance and sales of the business due to covid-19.
3.0 Conclusion
Due to the covid-19 Pandemic, the economy of the United Kingdom slumped, and many of the businesses and organizations were operating on little to no profit. Meaning of the retail businesses encouraging their clients and customers to shop through their websites via the internet. As most of the companies and organizations are working from home, people are spending less money on clothes as they are not stepping out of their houses. After the restrictions on socializing and lockdown measures taken by the government of the U.K., millions of retailers in the garment and fashion industry have lost their job. As per the analysis, we can say that the sales of the company can only improve after 70 to 80% of the population and in the United Kingdom are vaccinated, and people start resuming their regular services. It concluded that the Pandemic has severely affected the retail garment organization, and the condition for sales and profitability of the organization can be improved by using user-friendly and safe applications through which the customers can shop.
Reference list
Journal
Willcocks, L.P., 2020. Covid-19: business must get ready for the new abnormal. LSE Business Review.
Tanveer, M., Hassan, S. and Bhaumik, A., 2020. COVID-19 QUARANTINE AND CONSUMER BEHAVIOR THAT CHANGE THE TRENDS OF BUSINESS SUSTAINABILITY & DEVELOPMENT. Academy of Strategic Management Journal, 19(4).
de Sousa Jabbour, A.B.L., Jabbour, C.J.C., Hingley, M., Vilalta-Perdomo, E.L., Ramsden, G. and Twigg, D., 2020. Sustainability of supply chains in the wake of the coronavirus (COVID-19/SARS-CoV-2) pandemic: lessons and trends. Modern Supply Chain Research and Applications.
Nepal, S.K., 2020. Adventure travel and tourism after COVID-19–business as usual or opportunity to reset?. Tourism Geographies, 22(3), pp.646-650.
Agrawal, S., De Smet, A., Lacroix, S. and Reich, A., 2020. To emerge stronger from the COVID-19 crisis, companies should start reskilling their workforces now. McKinsey Insights (Issue May).
Parker, L.D., 2020. The COVID-19 office in transition: cost, efficiency and the social responsibility business case. Accounting, Auditing & Accountability Journal.
Pinzaru, F., Zbuchea, A. and Anghel, L., 2020. The Impact of the COVID-19 Pandemic on Business. A preliminary overview. Strategic. Preparing for Tomorrow, Today, pp.721-730.
Tan, B.S., Dunnick, N.R., Gangi, A., Goergen, S., Jin, Z.Y., Neri, E., Nomura, C.H., Pitcher, R.D., Yee, J. and Mahmood, U., 2021. RSNA international trends: A global perspective on the COVID-19 Pandemic and radiology in late 2020. Radiology, 299(1), pp.E193-E203.
Tan, S.K., 2021. Global Pandemic, Technology Booms and New Business Trends: The Case of Japan. IJEAS: The International Journal of East Asian Studies, 10(1), pp.120-140.
Fairlie, R.W., 2020. The impact of COVID-19 on small business owners: Continued losses and the partial rebound in May 2020 (No. w27462). National Bureau of Economic Research.
Liu, W., Yue, X.G. and Tchounwou, P.B., 2020. Response to the COVID-19 epidemic: the Chinese experience and implications for other countries.
Know more about UniqueSubmission’s other writing services:
