International Retailing has been in existence and has gained ground in the past two to three decades. Lets understand the concept of International Retailing in detail.
Articles on International Retailing
International retailing business is high volume business. In this article we aim to explain some of the characteristic features and challenges of International retail business.
When one refers to International Retailing, there are several dimensions of the trade that needs to be considered before attempting to come up with an apt description of the business.
In the current times International Retailing industry is largely characterised by international sourcing. International sourcing strategy and operations hold the key to the success to international retail businesses.
The concept of sourcing has grown as a result of various factors that have been responsible for the growth of internationalisation of retailing and brand building.
The growth of international retailing business has been a field of study by the academic researchers for the past various decades. Lets understand the emergence of International Retailing in detail.
Generally there are 5 modes of market entry as practiced by the International Retailers - Non Controlling Interest, Setting up International stores as a part of internal expansion, Merger or Takeover, Franchise Model and Joint Ventures.
International Retailing denotes a variety of fashion retailers, luxury brand retailers and general grocery and merchandise retailers as well. Lets understand in detail of what constitutes International Fashion Retailing.
International Retailing entails several operational and marketing challenges that the Companies face when they operate globally across culturally diverse markets.
International Retailing has undergone tremendous changes in the last two decades. International retailers have begun to catch in on the new trends in the market as well as begun to change the fashion trends keeping in line with the new youthful culture.
Supply chain is the backbone of all industries. Organizations have developed efficient supply chain management strategies as a trade off to be able to gain competitive advantage in the market.
International Retailers have realized that the only way to remain competitive in market was to concentrate on offshore procurement and regularly review supply chain solutions.
International Retailing concepts have been based on the Supply Chain solutions. Lead time and efficiency of supply chain is one of the most important differentiators to International Retailing.
Efficient Consumer Response (ECR) studies have changed the course of supply chains globally and have been responsible for the series of changes and evolution of modern supply chain networks.
ECR or Efficient Consumer Response initiatives in the 1990s changed the face of the International Retailing Business in Europe as well as US.
International Retailing Companys Buying strategy is very important for building partnerships with suppliers. Lets discuss the International Retailing Buying Strategy in detail.
Technology has played a major role in transforming the face of International Retailing Supply chain. Lets discuss the evolution of international retailing supply chains in detail.
Prior to 1990s, the retail industry was heavily dependent upon the suppliers and manufacturers. The introduction of ECR - Efficient Consumer Response initiatives led to the evolution of new supply chain trends and gave the industry a new dimension.
Modernisation and Internationalization of Retail Industry owe its origin to the ECR initiatives that brought about sweeping changes in the industry. Lets discuss the major practices of modern international retail industry.
Logistics services are the backbone of any retail operation. Along with the evolution of International Retailing, Logistics also grew up as a discipline encompassing not only freight but a host of logistics related activities.
Merchandising plays a very important role in International Retail Industry. Nowadays Merchandising has become a strategy that the International Retailers use to gain competitive edge.
Evolution of modern times International Retailing has been characterised by far reaching changes in Supply chain and Logistics. Online ordering poses several challenges to the back end operations in International Retail.
E Commerce has opened up a whole new dimension to the International Retail Trade. The operational challenges with online order servicing are mainly related to the Order picking, packing and fulfilment process.
Globalisation and Internet revolution has opened new vistas for International Retailers in terms of E Commerce and Trade opportunities. With increasing penetration of internet in all homes, the volume of online shoppers is steadily increasing.
The job of a Merchandiser in International Retail Company is one of the most challenging and rewarding career options. Lets dicuss the activities and tasks involved in developing a Supplier Network and the process of Vendor development.
Generally there are 3 different types of structures of Buying Departments as followed in the Industry. namely - Centralised Buying, De-Centralised Buying and Combined Buying Policy.
The job of a Merchandiser calls for multi skills, sharp acumen and understanding of the markets as well as the Supplier networks coupled with knowledge of commercial and international trade.
Modern retail store designs have gone hi-tech using innovative styles of racking and lighting, experimenting with new concepts in terms of creating visual effects etc.
Architects and designers are guided by the Design principles which lay emphasis on Totality, Resource, Time, iteration as well as serviceability aspect of design while finalizing the layout and design for Retail Stores.
Internet and E Commerce have open lot of opportunities for the International Retail industry. The companies have no option but to get into the race and of offering online shopping as a trade channel.
Retail business strategies includes - identifying the markets to be in, building the product portfolio and band width coupled with brand positioning and the various elements of brand visibility and in store promotions, etc.
E commerce is an important channel of sales for Retail Companies. E Commerce positioning strategy calls for understanding not only the market trend, but to understand the Customers buying behaviour also.
Market Penetration in International Retail Industry comes mainly from extending and building new product portfolios and embarking on multi channel strategies.
This article examines the phenomenal growth of the eCommerce sector in India and analyses some of the reasons for the mega discounts being offered by them in recent months. This analysis also looks at the pros and cons of the debate in addition to some drivers of growth that need to be sustainable over the longer term for the party to continue.
Technological advances in Imaging and Photography as well as communication technology have enabled the Retailers to offer Customised and Limited Edition fashion garments to its customers.
One of the recent trends that we see with International Retail Industry is the segmentation and growth of Young consumers especially the teens and tweens.
Marketing and advertising aims to build brand awareness as well as promote a certain trendy lifestyle. Advertising to the youth segment is not the same as advertising to the adult segments.
In recent years we have seen rise in corporate social responsibility. Fashion industry has had to be responsible for ethical issues concerning child labour and working conditions of labour at the Suppliers end.
International Retail Store Designs have been guided by certain Design Principles. In this article, we shall discuss the Principle of Totality as applied to Store Designs.
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