Challenges of going global.

When running a long-distance race, one must be very strategic in considering all the factors, large and small, that may mean the difference between reaching the finish line or expiring, thirsty and breathless, at the halfway mark. With these favorable factors, Asia Pacific will be driving the global retailing industry’s growth through 2023 and beyond. Top Retailing Problems & Challenges Today #1 : Consumers are Choosing Multichannel Buying Experiences With more complete e-retail experiences available, and shipping times greatly reduced, it is little wonder around 96% of Americans utilize online shopping in one way or another. Investigates various benefits and challenges that retail firms perceive in global sourcing, and how those benefits and challenges differ in terms of firms’ demographic and managerial characteristics. The economy slowed last year, with real GDP growth declining to 1.9 percent in Q3 from 3.1 percent in Q1. While grocery retailers are trying to manage significant supply challenges due to consumer panic buying and resulting stock-outs, most non-food retailers are not yet feeling the full impact of supply disruptions; drops in demand coupled with long lead-times and inventory warehousing means that short-term supply is generally not a problem. China and India are the standout performers. For MNCs, it has become a strategic sourcing in today’s competitive setting. The retail industry should be prepared for changing economic conditions in the coming year. ADVERTISEMENTS: Global sourcing is a procurement strategy that aims to take advantage of global efficiencies for the delivery of goods and services. Data were collected from 148 apparel retail firms. Retail industry in India is undoubtingly one of the fastest growing retail industry in the world.

Some popular examples of globally sourced goods and services are: labor-intensive goods produced in China at low production cost, BPOs staffed […]