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International Retailing Defined Definition: All the activities involved in selling products and services to final international consumers for their personal consumption.
Retail internationalization is the management of retail operations in market which are different from other in their regulation, economic development, social conditions, cultural environment and retail structures. Transferring retail operations, concept, management expertise & buying function across national borders. Global retailing is now valued at $ 7 Trillion (Source:2011 Global Retail Report, Deloitte Touch Tohmatsu).
3% 8%
13% 27%
USA India
EU Russia
Japan Others
China
International Retailing
Global Retailing
A) Mostly Organized Retailing. B) Large number of retail formats . C) Advanced technology applications.
D) Infrastructural Bottlenecks.
E) Low competition market. F) Lack of trained Manpower.
Internationalization
Concept:It is the act of crossing international boundaries with business interests . Choices of Internationalization: Self-Start Entry. Acquisitions & Mergers. Joint Ventures. Franchising. Exporting.
A contractual agreement in which one firm provides access to some of its patents, trademarks, or technology to other firms in exchange for fee or royalty.
Process Of Internationalization
Licensing Export via agent or distributor
Firm uses export as Vent for its surplus production and may have no long run commitment to the international market.
Globalization
Concept:Integration with world economy or the process of integration of the world into one huge market. I.M.F Definition:The growing interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services and of international capital flow and also through more rapid and widespread diffusion of technology. The firm commits itself with several manufacturing locations around the world.
Globalization Advantages
Free flow of technology. Increased industrialization. Development of world economies. Increased employment and income. High standards of living.
Globalization Disadvantages
Heterogeneity of problems. Reluctance of developed countries.