Large foreign retailers entering the local market are often viewed as having a negative impact on local traders – but more competition can be good thing, explains the University of Ulster’s Professor Barry Quinn.
In his lecture this evening, ‘International Developments in Retailing: Global Giants and Local Markets’, the retail marketing expert will explore how small outlets can survive multi-nationals setting up shop next door.
Professor Quinn is Head of Department of Business, Retail and Financial Services, at the Ulster Business School, based at the Coleraine campus.
He said: “The emerging power of retailers in the distribution channel over the past 30 years or more has seen retailers become global players with considerable influence on the markets they enter.
“New foreign entrants to the market can bring about major change in various ways, most visibly on the high street, with an impact on competition and consumer choice, but there are also broader supply chain, regulatory and cultural impacts.
“The entrance of a large foreign retailer to the market represents a major threat to local indigenous retailers, who are often unable to compete with the size and scale of the new entrant. However, they may take the opportunity to respondpositively and to develop an improved and more competitive retail offering. International entrants are not always successful and there have been many examples of failed international ventures, leading to market exit.”
Professor Quinn’s inaugural professorial lecture will be held at the Coleraine campus at 6.30pm this evening.