EXECUTIVE SUMMARY The rapid expansion of new technologies and digitalisation is transforming shopping behaviours and consumers’ habits. Many industries have started to shift their approach to market and gradually transform their business to meet consumers’ changing expectations and anticipate new trends. In that context, the fast moving consumer goods (FMCG) industry is at a cross-road : while digitalisation affected primarily their retailers, it is starting to gain an important role in their own global strategy. The need to embrace the change along with facing the inevitable transformation have brought on many opportunities which companies are only starting to explore. This thesis aims to analyse one of these opportunities : the direct-to-consumer
As aforementioned, these includes the increasing attention luxury brands get from the media, the growing recognition of online shopping, as well as increased global travel. As opposed to cultural variations and the democratization of luxury, these external trends make luxury brands more available globally, and encourage information sharing and communication among the customers of luxury brands, which makes consumer discernments of luxury brands increasingly alike (Wiedmann, Hennigs & Siebels 2009, p. 644). Thus, the external trends are bringing about a convergence of perceptions on the luxury brands across segments. Ideally, this indicates the surfacing of a global culture of luxury brands. To conclude on the evaluation, the study by Yuri and Margo (2015) was insightful.
In the May-June 1983 issue of the Harvard Business Review, Theodore Levitt sparked off a debate on the subject of standardization or localization of marketing with the publication of his article, The Globalization of Markets. Levitt contended that advertising and marketing programs and strategies could be standardized across markets because of widespread globalization. According to Levitt, globalization was causing a “monoculture” in which people across the globe were becoming very similar (Frith & Mueller 2004). Levitt contends that the world is becoming a common marketplace where people, irrespective of their place of residence desire the same products and lifestyles (Lynch 1984, quoted by Mueller 1992) and to the delight of U.S. based marketers, those desired products and lifestyles are often American (Mueller 1992). Levitt’s article certainly invited a plethora of scholastic research into the area of “culture” and “values” in advertising, with supporters and opponents, from various disciplines taking either a ‘pro or con’ stand on the homogenizing effect of globalization.
Growth in internet retailing and online shopping: since Wal-Mart is the biggest offline retailer, it can use this opportunity as a way of expanding its presence in online realm to reach more customers and increase its revenue. Threats i. The rising price of commodities: as prices go up, the profit margins of Wal-Mart are squeezed and its competitive advantage is eroded. ii. Political pressure and foreign laws: changes in foreign law and pressure from politics affect the companies operation in other countries.
Business narratives in the past years, having been named “phonetic turn” in social sciences which is influenced by current trend. According to Spector-Mersel (2010) stated that, the detailing is acquiring from humanities, mainly from classical philosophy, introduces various social subjects: such as psychology, anthropology, sociology, sociolinguistics. Meanwhile, the current standard highlight that language, dialogue, and the story should not be perceived as easy ways to attain information, but as methods facilitating to show the connections among unrecognition, recognition, results and achievements. The epistemological and the ontological point of view, story evaluation is measured as the many normal area of social life Czarniawska, (2010), as the area of understanding, and a way of connection. According to Smith and Anderson that defining “narrative” includes various kinds of stories, like as individual and family backgrounds, myths, fantasies, novels or everyday narrative, that are used to analyse or defend their effort and actions.
APPAREL SHOPPING ORIENTATIONS: AN EMPIRICAL STUDY Neetu Narang* *Assistant Professor in Commerce, HMV, Jalandhar email:firstname.lastname@example.org INTRODUCTION Consumer’s perception of each store’s attributes or its performance determines the customer’s retail patronage (Arnold, Oum &Tigert,1983). With the introduction of modern retail formats there is a change in consumer’s shopping behavior. Moreover , there is a change in the store environment, size, shape etc. Intense competition in retail markets has led to increasing need for retailers to use strategies that focus on retaining and attracting customers. In present times to be successful, understanding the behavior of consumer is a key to success for business organisations.
This evolution in Information Technology and the major innovations made in it is a major driving force behind globalization, which actually set the cart rolling. Globalization and Law This concept can rather be understood as ‘GLOBALIZATION OF LAW’. Globalization of Law includes the translocal networks of local laws as well as the complex interaction between the nation, state and its law . Focus can also be drawn towards the growing advocacy of courts in handling political conflicts and restructuring economies. In recent years, legal scholars, political scientists and social scientists in Western countries have explored the trend of ‘judicial internationalization’, meaning the increased interaction between judges from different jurisdictions around the world .
But this face is gradually changing. A massive development in organized retailing consisting of shopping malls, retail chains, multi brand outlets, hypermarkets, supermarkets etc has taken place. This development in the organized retailing is gaining importance throughout the Indian cities. With the help of these shopping malls the various Indian and the international brands are spreading themselves not only in the metropolitan cities but also in the tier II and III cities. It is because they get the desired image for their brand, the shopping environment and the customers that they want in a shopping mall which is difficult to obtain in an unorganized
Years preceding the the Second World War, many countries adopted the free-market economic systems, that led to increased production potential and creating new possibility for international investment and trade. Technology has been the principal driver of globalization. Progression in information technology has dramatically altered global economic life. Information technologies has equipped individual economic entities such as businesses, governments, consumers and investors with valuable tools for pursuing economic opportunities around the world. globalization has connected cities worldwide and increase competition for resources, capital and skilled labour.
1.2 INTRODUCTION In Indian scenario the importance of branding in the retail market is felt from the high degree of competition that is prevalent in the market. This study brings to light the influence of Retail store Attributes on building brand equity. For the purpose of this study well established supermarket in Chennai city were chosen. The rapid changes in the Indian and global markets have led to the importance of understanding the concept of Brand Management. A brand refers to the name or symbol which identifies the products or services of one manufacturer and differentiates with that of competitors.