The retail revolutions in the UK and US. Similarities and differences, Essay

The retail revolutions in the UK and US. Similarities and differences, the winners and losers - Essay ExampleUndoubtedly, in the last several years, the retail constancy has changed considerably just to get better and enhanced. Uprising in every aspect of production, distribution, technological, marketing and deliverance have ultimately led to the revolution of the retail industry. This project would focus on this specific industry, the revolutions interpreted place in USA and UK, the similarities and differences of the retail markets in these two countries. The analysis would further lead to the appellation of gainers and losers of this industry. Global selling Industry At the end of the 20th century, both North America and europium have experienced the surfacing of the superiormarkets to take prevailing grocery retail form. As the income level increases, the super marketers expanded their product range to seek convenience as well as new tastes and stimulant drug of the custom ers. In the later years, with the advancement of technology, introduction of barcode has enabled these funds to effectively manage number of merchandises and their prices (Anand & Nambiar, n.d., p.1-2). Further much, the retail stores have introduced just-in-time store replacement and the capability to manage more individual product items. In the coming years, the logistical corpses incorporate store replacement and computer driven depots integrated in one single electronic system leading to the establishment of superstores. There have been a considerable amount of changes from the last decade to this date. cardinal of the few similarities, which still remain same from the last decade, is that Wal-Mart still holds its top position with distinction across the globe. Other than the dominance of Wal-Mart, there is little or even negligible changes from that of the mid-1990s. The world economy has experienced a considerable amount of shift with changes in the retailers operating sy stems and consumer demand with the incorporation of enhanced technology. Furthermore, intensive competition, saturated customer base and limited legislation have pushed the leading sustenance retailers to cross the borders. Since middle of the 1990s, a number of governments have encouraged their economies to open up, leading to the entrance of the unlike investment and free markets. The entire situation has become favourable for the leading retailers to expand further to sustain the global market. In the wake of recent economic downturn, there has been cutback in the corporate IT expenses and other superior spending. Furthermore, the consumers have become more sensitive to the price as well as conservative in the buying behaviour. This has been more prominent in the advanced economies. The global recession has forced the retailers to look more into the cost more effectively. In the second half of the 1990s, the supply chain innovations have been stronger and have keep till dat e. In the recent times, change in the consumer preference would fuel the online retail services. As of now, the US has remained the biggest area for the online retail with around 37.2 percent of the total market share (IMAP, 2010, p 3-4). USA Retail Revolution The retail revolution of the USA started with the opening of departmental stores in the 1860s, and the constant evolution of the retail industry in USA continues till date. Historically, the production sector has been credited with all innovation and parcel to the growth of the society, and the retail