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International Sustainable Business: Food Retailing - Essay Example

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International Sustainable Business: Food Retailing

In order to attract the food shoppers a combination of music and comfortable environment around the shopping complex were used. A fair price tag with all the food products also contributed to the greater attraction of such food retailing complex. This model is even followed today. The food retailing supermarkets also helped the shoppers to select and pick the products before purchasing through prior inspection. This paved the way of global retail food super markets. The present global food retailing markets are dominated by Wal-Mart, Tesco, Metro AG and many others. From this successful concept of the western food retailing industry the East also got impressed and started to follow the footsteps regarding the same. Singapore is considered as one of the leaders in food retailing industry as far as the eastern world is concerned. After Singapore, a similar concept was followed in China, Japan, Malaysia and Thailand. In recent times the food retailing industry has also penetrated the Indian market and flourishing rapidly. (Anand & Nambiar, n.d., pp.1-5; Clapp & Fuchs, 2009, pp.32-33) Major Market Players and Market Scenario: Presently the major global players of food retailing industry are from Europe and US. Wal-Mart as mentioned earlier is the leader of the pack whereas Carrefour is the biggest of the European contenders and second to Wal-Mart. The consideration of the entire retail industry according to the rank of the retailers comprising of both food and non food items might help to understand the spread of the global retail industry and thereby the global food retail industry. The table below portrays the top 15 global retailers ranked according to their retail sales volume. (Anand & Nambiar, n.d. pp. 2-3) Usually purchasing involves bargaining, selecting and finding the right products from the marketplace that are strenuous to the customers nowadays, considering the fast pace of life that they are abide to live through. If that strain can be turned into pleasure through some simple modifications like music, air-conditioner etc. that will eventually also translate into profit then the retail food market industry of the present era is bound to flourish. Moreover the store help and signage systems helps the shoppers to locate the items they need in quick time and provision of discounts and special offers also act as added benefit to the customers. These reasons are the basic factors for the boom of food retailing industry. But day-by-day competition is creeping in within this sector and it is making hard to sustain the profit margins the players has achieved earlier. So, new strategic mixes are required for the new entrants in this industry (Anand & Nambiar, n.d., pp.1-5). Recommendations and innovation of business model The main requisites of food retailing industry are product distribution outlets, supply chain management system, marketing strategy and prompt service delivery. Product distribution outlets: For any food retailer, a perfect location for distribution outlet is a basic necessity. So, locations chosen for outlets must be nearby main centers i.e. workplace, rapid mass transport system depot and railway station or residential area (This is important since food items are often perishable goods). The shoppers will get easy accessibility, visibility and transport availability to the outlets owing to such location. These kinds of location strategies are adopted by major global players of the industry like Wal-Mart, Tesco etc. to ensure better number ...Show more

Summary

A Brief Introduction on Global Food Retailing Industry Introduction In recent times, food retailing industry with the emergence of different supermarkets and hypermarkets has gained global eminence. Though, the emergence of this era started long back after 1950s…
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International Sustainable Business: Food Retailing essay example
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