Overview of the Retail Industry
The House of Commons Retail Industry Briefing Paper (May 2015) reports that the UK retail sector is the largest industry based on the number of employees. In 2013, the entire sector accounted for 539,000 businesses with a total of 4.3 million people employed, 15.8% of the total UK population. The retail industry contributed £180 billion to the UK economy output in 2014, 11% of the total, and contributes around £17.5 billion in taxes each year.
Over the past few years, a key development in the sector is the increasing value of internet sales and the change in consumer purchasing practice. From January 2007 to January 2013, the value of retail internet sales rose from 2.7% to 11.1%.
CPD in the Retail Sector
As the largest employing industry and with a huge consumer focus, the implementation of Continuing Professional Development is vital to ensure industry standards continue to rise to compete in an ever-growing globalised competitive market.
The Chartered Institute of Procurement and Supply (CIPS) states, “the world is moving ever faster so on-going CPD is essential to support you in your current role as well as helping you with career progression. CPD is all about upgrading knowledge, skills and capabilities to remain effective and compliant.” CIPS recommends that individuals undertake at least 30 CPD hours per year as a minimum, and ideally 45 hours at higher competency grades, in order to keep up-to-date with changes in the business environment, organisational requirements and, potentially, client needs.
The Chartered Trading Standards Institute runs its CPD scheme from January to December each year, and requires participants to complete at least 20 hours of CPD annually, which should be recorded on a learning and development plan.
Continuing Professional Development in the retail sector can vary significantly depending on job role and responsibility. CPD opportunities can include marketing & advertising, people management, customer services, market trend analysis and reporting, store design & layout, merchandising and supply chain management.
- British Retail Consortium (BRC)
- Chartered Institute of Procurement and Supply (CIPS)
- Institute of Customer Services (ICS)
- Institute of Grocery Distribution (IGD)
- British Florist Association
- Retail Bridalwear Association
- Fashion Association of Britain
- Association of Licensed Multiple Retailers
- Kitchen Bathroom Bedroom Specialists Association (KBSA)
- Chartered Trading Standards Institute
- The Charity Retail Association
- British Jewellers Association
- Entertainment Retailers Association
- British Footwear Association
- British Hospitality Association
- British Franchise Association
- Association of Convenience Stores
- Association of Retail Trade
- British Independent Retailers Association (BIRA)
- Toy Retailers Association (TRA)
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