• Rohan Benhal
• Tanmayee Parbat
• Honey Jain

The aim of the chapter is to show that now retail trade is a global sector but because of its specificity new strategies are necessary if global retailers want to sustain their advantage. The concept of globalization is discussed and then referenced to the retail sector. The process of retail internationalization which resulted in the globalization of the retail sector is analyzed. It is assumed that the retailers were motivated by the goal of sustaining their competitive advantage. So some ideas of the main theoretical views of developing sustainable competitive advantage (SCA): Environmental View and Resource-Based View, referring to the process of internationalization as well as Yip’s description of globalization process are presented. On the examples of some companies, leading the process of retail fast internationalization in the XX century, like Ikea, Benetton, Carrefour, Wal-Mart, it is shown how the resources they developed and the external environment contributed to their globalization process. It is found out that there were two stages of the globalization of the retail sector: first, in which non-food companies develop on the international market, and second when the mass merchandisers offering food and other Fast Moving Consumer Goods (FMCG) were involved. The fact that after fast internationalization representatives of both groups face problems leads to the conclusion that to be successful in the contemporary global retail market new capabilities should be developed.

"Assessing the Role of Strategic Management in Managing UK Retail Sector Competitiveness in Global Market", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 8, page no.d22-d32, August-2021, Available :http://www.jetir.org/papers/JETIR2108376.pdf

"Assessing the Role of Strategic Management in Managing UK Retail Sector Competitiveness in Global Market", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 8, page no. ppd22-d32, August-2021, Available at : http://www.jetir.org/papers/JETIR2108376.pdf