Globalization Effects in the Retail Industry
Morriah Fisk
Global Retailing
Capstone Starting Draft
5/23/12
**This is the starting draft of my capstone, my thesis is not included. **
Ever since the mid-1990’s, retail stores and shopping centers have a recurring theme called entertainment, or to the retail industry, “retailtainment” (Poloain, p.46). This combination of retailing and entertainment extends to online shopping as well. Retailers in the 21st century are constantly searching for excellence in every phase within the retail industry. Some challenges include meeting different types of people, communication barriers, updating old technology, information, distribution, competition, pressure to perform and beat out its competitors, along with so much more (Poloain, p.6). Success within the retail industry requires understanding the customer’s needs, wants, motivations and different lifestyle. The definition of retailing is defined as, “Selling goods or services directly to the customer for personal, non-business use” (Poloain, p.8). Retailers must be trend watchers in every sense of the world. When changes in the economy, political moments, legislation, demographics, society, environmental consciousness, competition and technology all affect the retail industry. The economy is the first to be blamed when retail sales are down (Poloain, p.13). The real change in the retail industry is technology; trade laws, competition, product sourcing, brand recognition and customers all affect global expansion. The changing economics of both industrialized countries that have reached full production capabilities and have well developed in fractures and technologies, as well as those countries that are still developing offer retailers the chance to expand into foreign countries (Poloain, p.212). Global retailers are those that do business in their home countries. The ownership of some global retailers is apparent to customers. Retailers decide to go global for many reasons. Some retailers decide to
Global Retailing
Capstone Starting Draft
5/23/12
**This is the starting draft of my capstone, my thesis is not included. **
Ever since the mid-1990’s, retail stores and shopping centers have a recurring theme called entertainment, or to the retail industry, “retailtainment” (Poloain, p.46). This combination of retailing and entertainment extends to online shopping as well. Retailers in the 21st century are constantly searching for excellence in every phase within the retail industry. Some challenges include meeting different types of people, communication barriers, updating old technology, information, distribution, competition, pressure to perform and beat out its competitors, along with so much more (Poloain, p.6). Success within the retail industry requires understanding the customer’s needs, wants, motivations and different lifestyle. The definition of retailing is defined as, “Selling goods or services directly to the customer for personal, non-business use” (Poloain, p.8). Retailers must be trend watchers in every sense of the world. When changes in the economy, political moments, legislation, demographics, society, environmental consciousness, competition and technology all affect the retail industry. The economy is the first to be blamed when retail sales are down (Poloain, p.13). The real change in the retail industry is technology; trade laws, competition, product sourcing, brand recognition and customers all affect global expansion. The changing economics of both industrialized countries that have reached full production capabilities and have well developed in fractures and technologies, as well as those countries that are still developing offer retailers the chance to expand into foreign countries (Poloain, p.212). Global retailers are those that do business in their home countries. The ownership of some global retailers is apparent to customers. Retailers decide to go global for many reasons. Some retailers decide to