Retailers are facing unprecedented challenges as they respond to rapid shifts in consumer behavior and economic forces. The recession, rising fuel and food prices, along with government-imposed austerity measures have decreased discretionary spending worldwide just as many retailers plan to open new bricks and mortar stores. Meanwhile, the rapid rise in online shopping has many retailers scrambling to broaden their business practices to the Internet.
Tapping into new and emerging markets and embracing e-commerce is crucial to continued retail growth. In particular, US retailers that are aggressively trying to grow their business outside the US must understand the global trade and compliance implications of opening stores and shipping goods to international locations.
A global trade management (GTM) system can streamline and automate the business processes associated with conducting global trade, including admissibility reviews, restricted party screening and landed cost calculations.
This eBook examines three distinct challenges faced by today’s retailers and how a global trade management system can help them succeed.