Feature of the Month: Snapshot of Global Retail Industry
As the global economy continues to recover from the financial crisis, positive retail sales figures have emerged for the 2014 end-of-year holiday season with only the U.S. and Europe experiencing negative results.
A positive consumption atmosphere in Asia has helped retail sales reach a new high along with massive discounts and promotions that also helped boost holiday sales in the region. In China and India e-commerce contributes most of the growth in retail sales which, is a result of favorable online-shopping policies and the increased spending power of the younger generation who tend to prefer shopping online.
Retail sales in the UK and Germany are also expected to rise, buoyed by subdued inflation and increasing wages. However, high unemployment rates and continued austerity measures in France and Italy may lead to a decline in retail sales.
U.S. retail sales dropped to the lowest level in December since last January despite low gas prices and employment growth. The retail industry is facing challenges as the consumer demand is decreasing and the supply transfer is slowing down as a result of stagnant wages and the West Coast Port Strike.
Year-end sales performances are an important indicator for retail business for the year ahead and 2014’s end-of-year holiday sales results reveal a favorable outlook for 2015.
Featured Resources
Global Best Buying Practices Video Library
This series of videos describes issues and case studies within the realm of global best buying practices in the retail industry. Topics covered include assortment planning, pricing, product promotion, and sourcing.
Categories: Video Depositories
PricewaterhouseCoopers: Retail and Consumer
PricewaterhouseCoopers provides background information on industry sectors globally. This site includes an up-to-date industry environment description, challenges facing the industry and potential solutions, free downloadable publications including annual reviews, and events.
Categories: Retail, Industries
Featured Academy
Benchmark Study on International Business Education at Community Colleges
This study, conducted by MSU-CIBER, looks at the International Business Education Index (IBEX) score of community colleges throughout the US to analyze how community colleges on the whole are doing in internationalizing their campuses. The IBEX is based on strategic commitment, program offerings, organizational infrastructure, funding, and investment in faculty.
Category: Internationalization
globalEDGE Business Beat
Business Beat Segment 1 Charles Hill
Tomas speaks with Charles Hill, Hughes and Katherine Bank Endowed Professor at the Foster School of Business at the University of Washington; they discuss his leading textbook on international business as well as trends seen over the past ten years concerning international business.
Business Beat Segment 2 David Ketchen
Tomas speaks with David Ketchen, Lowder Eminent Scholar and executive director of the Lowder Center for family business and entrepreneurship at Auburn University, they discuss small to medium sized businesses being the core engine to the success of the economy.
Business Beat Segment 3 Glenn Omura
Tomas speaks with Glenn Omura, associate dean for MBA and Professional Master’s Programs at the Eli Broad College of Business at Michigan State University, they discuss the plans to advance and further develop the Eli Broad Business College.
*More new radio interviews can be founded in the globalEDGE Buisness Beat section!
