Global Retailing

0 retailing has been come late to globalization – until the 1970s very few retailers

00 had truly international scope. But since then many have developed global presence

41 as domestic markets have become full and new ones have opened up. This is

42 because the world is currently witnessing to a convergence of customer tastes and

43 aspirations, in particularly among the middle classes and the younger generations,

44 that what is fuelling a rapid internationalization of the entire retail sector. In

45 addition, the retail industry itself has become increasingly sophisticated. It

46 has developed skills, procedures and these resources that make it easier to develop

47 and expand effectively abroad. Barriers to entry in many of markets in other

48 countries have recently come down and partnerships are being formed between

49 big companies from Europe and the United States and small companies too in the

50 developing eastern countries. Retail brands are beginning to replace out many of the traditional manufacturer brands available on the world stage.