Thursday, September 18, Essay:
Unlike the vast majority of supermarket chains, ALDI store carries about 1, regularly-stocked items, including fresh meat, and, in certain locations, beer and wine, of which nearly all are ALDI, select brands. ALDI stores are correspondingly small—usually 8, to 15, square feet—compared to the 50, tosquare feet typically utilized by competitors with larger catalogs of items.
Drivers of globalization in the retail industry While we can talk about which are the drivers of globalization that has most impacted the retail industry, I think it is appropriate to state that the retail business as much as many other business in the world, have been exposed to the globalization effect mainly driven by the creation of the Internet, significant improvement and growth of the logistics routes and ompanies bringing the logistics cost down and new demand coming from emerging markets like China.
To discuss specifically about the drivers that have impacted the retail industry, I think E-commerce has contributed to the retail brokerage industry becoming more global and more contestable. By examining the different stages of the value chain, we can analyze the differential impact of the information and communication technology ICT revolution on each segment of the industry.
In contrast, important features of the broker-customer interface have perpetuated a multi-location competitive structure at the retail stage of the industry. Nevertheless, actual and potential competition has been significantly increased by the spread of e-commerce at all stages of the industry.
E-commerce innovations encourage both standardization and variety within an increasingly competitive industry.
Last but not least, the trade agreements signed within the last 20 years have also helped to foster globalization. Free trade agreements signed in the NAFTA regions helped bring goods at a significant lower cost than what it would cost without this agreement. Same applies to the home land of ALDI Europe where goods and resources can flow throughout the countries that are part of the European community without any need of passports or tariffs.
Through standardization of their business practices and taking advantage of the globalization drivers, ALDI has been successful in realizing the benefits of globalization in their business.
As some of the articles read, despite of the economical recession the current worldwide economy is going through, ALDI is one of the few retailers that keeps growing their business mainly due to the cheap prices that they are able to offer. In times of recession people tend to be very conservative when spending and the people see that ALDI offers value add to their spending by saving them money in their groceries.
Globalization forces companies to standardize processes and ALDI has been very good at it, making sure their stores have the same concept everywhere they are located world wide.
ALDI is recently celebrating the opening of their 1,th U. At a time when other retailers are cutting back and the recession is deepening, ALDI continues to build new stores in 29 states nationwide and also around the globe.
ALDI has been able to tap a niche in the market that is more appealing to small stores, do not care much about the brand of a product but more to the economic benefit by buying the product in a more economical way.
As we have discussed in the beginning of this paper, IT has played a big role in the retail industry. Specifically in the retail industry, information can gathered on a global basis and dissect it in many pieces to analyze important factors such as consumer patterns, inventories, quality data, delivery data, etc.
Consumer patterns or inventories study is not something that is just starting now but what is different today to what the retail industry was 20 years ago is that the information is on real time and can be shared globally.
This gives companies the ability to better understand how to react to specific market segments and regions based on their consumer preferences.
It can also help to better manage their inventories by setting up minimum and maximum inventory levels.
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