Created by christyoconnor
about 11 years ago
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The supermarket revolution – key concepts ‘Buyer-drivenness’ Oligopoly: few sellers, many buyers...... Oligopsony: many sellers, few buyers The supermarket revolution in the UK and US – drivers Societal change in US and UK Neoliberal deregulation in the ‘global North’ Economic liberalisation (FTAs, WTO, IMF & World Bank) New international division of labour – rise of manufacturing in the ‘global South’ IT and logistics revolutions Financialisationshareholder value How did Wal-Mart come to be so dominant in the US retail sector? Cost and price control – ‘everyday low price’ Culture – small-town America and anti-trade union Supply systems – point of sale data and ‘category champions’ Innovation – new ways of selling (store formats, online) Market destabilisation – ‘Wal-Mart effect’ on lowering prices
Challenges to Wal-Mart’s dominance CultureIndonesia and Japan Horizontal competitionnot the only player Government regulationsland Worker resistanceGermany and (now) the USA Fast Fashion Changing cultures of consumption Fashion change stimulates demand and differentiation Fast fashion speeds up change from 2-4 ‘seasons’ per year to over 12 based on smaller ‘exclusive’ batches Highly responsive to marketIT systems and ‘rapid fire’ supply chain Depends on very low cost labour The supermarket revolution – winners and losers in the UK 1. Food prices and product innovation 2. Profitability 3. Suppliers 4. Nutrition
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