Contents

• Introduction 3
• Overview of the Chosen Industry 3
• Overview of Chosen Two Countries 4
• Comprehensive Analysis of National Background 5
• Macroeconomic and Microeconomic Conditions 6
• Comparative Analysis of National Competitive Advantage with Porter’s Diamond Model 7
• Factors condition 8
• Demand Conditions 9
• Related and supporting industries 10
• Firm structure, strategy and rivalry 10
• Chances 11
• Government 12
• Recommendations for National Competitiveness 12
• Conclusion 13
• References 15

Description

Retail industry is one of the important and fast growing sectors in most of the nations. The retail industry has seen significant changes over the years and there is increased structural changes in the industry due to changing customer demands, globalization, competition and rapid development of technology. Retail industry is an important contributor to the economy of the nation. The performance of the retail industry varies from one nation to the other and its structure and growth and success also varies depending on macroeconomic and microeconomic conditions. The retail sector of United Kingdom (UK) is an important contributor to its economy but after Brexit, there are changes in consumer consumption and service expectations. The consumers expect more of omni-channel approach from retail companies and expects fast delivery. Consumer demand is expected to grow but people have started preferring local products and the local retailers are aiming to expand business overseas with the introduction of online channels, which will enable them to reach out to wider customer base. Australian retail industry is also an important contributor to the country’s economy. The retail industry has become very competitive as more and more international companies are entering the market. The consumers are willing to spend more based on the brand and are willing to try various international brands. Consumer demand is expected to grow due to increasing wages and changes in consumer spending.