Globalisation In Retail Industry Analysis

Introduction

“Globalisation has enriched the world scientifically and culturally and benefited many people economically as well”, these words quoted by Mr. Amartya Sen, a well-known economic Philosopher and also Economics Noble Prize winner in 1998 from India. To an extent what he says is true, where companies expanding their business to the international levels with aims to develop international influence and to cash in more profits which eventually contributes to sustainability in business sphere.

Globalisation Definition

Researchers have various definition on globalization. Lewis and Friedman from Moore in 2009, describes globalisation as a free market capitalism happening to almost every part of the world. Kanter R.M and Lewis in 2009, says that globalisation is when product and ideas are found everywhere and at the same time in the world, it is like the world become like a huge shopping mall. While Lord Giddens claims globalisation happens when there is intensification for people who are at large distances around the globe to connect with each other socially. This will influence the social, politics and happenings at the other country or otherwise. Rugman and Hodgets recommend that identical and quality products should be produced and distributed around the world. Hornby in 2015 says, the world is easier to when an

Retail industry emerges in many decades. Retail sectors has a significant relation between produces and consumers. As a second largest economy sector, retail industry provides wider job opportunities. Study shows that the sector contributes to almost 13%-17% of employment market, 25%-30% to business activity and about 8%-17% contribution to GDP. Retailing has been viewed as innovative and dynamic for the past 3 decades (Wrigley, N., 2010).

Retail