Globalization Questions
Globalization has greatly influenced the retail industry by expanding market opportunities and increasing competition. It has allowed retailers to source products from different countries, resulting in a wider variety of goods available to consumers. Additionally, globalization has facilitated the growth of e-commerce, enabling retailers to reach customers worldwide through online platforms. However, globalization has also intensified competition among retailers, as they now have to compete with both local and international players. Moreover, it has led to the standardization of products and retail formats, as global brands dominate the market. Overall, globalization has transformed the retail industry by creating new opportunities and challenges for retailers.