The world is not as large as we once thought, and advances in technology are narrowing the gaps between countries of mass production and countries of mass consumption. Open lines of trade and the ideals of a “global” economy are not new concepts to trade industries and can be seen referenced in texts dating back decades, even centuries as noticed by Marx, Engels and Beer (1955, p.13) when they described that the need for constantly expanding markets for products requires those involved to settle everywhere and establish worldwide connections. Recent leaps and bounds in the advancement of technology and an increased awareness of individuals and the impacts that society can have on the world has led to the modern phenomenon that is referred to as globalisation.  This ongoing process is a combination of economics, societies and cultures integrating and entwining with one another due to a worldwide network of trade and communication (Wu, 2012, p. 292). Although the need for expanding markets has been noted and referenced in past texts and has been seen from time to time through the rise of dominant trade markets such as the East Indian or Chinese markets (Marx, Engels and Beer, 1955, p. 10), this economic system did not reach it’s full potential until technological advances enabled the rapid, high volume flow of labour, goods and services as borders are broken down and new spaces are created (Herrmann, 2010, p.256). As globalisation sweeps across industries it gives rise to a new type of identity – the global citizen, defined by Reysen and Katzarska-Miller (2013) as an individual who promotes social justice and sustainability and possesses a sense of responsibility to act in the best interests of the world at large. This extends into a larger scale with the creation of the corporate citizen, a business driven by the same ethics as a global citizen, aware of their actions and the impact that they can have, both negative and positive.

Political factors are hard to predict but can have significant impacts on business. Trade talks and changes to tariffs can determine what a company imports, exports, where they trade and, in some cases, what a company sells. Free trade agreements between member countries have significant impact on the way that business is done. It has been indicated that free trade negotiations favour countries with a stronger political weight (Facchini, 2004, p. 9) and when countries can come to an agreement that removes quotas, tariffs and general restrictions, it allows for businesses to access products of a higher quality for a lower level of expenditure.

Shared or collaborative marketplaces are one of the largest economic shifts of the 21st century and the competitive nature of this new economic trend define how retailers operate and develop their ongoing business plans.

The stability of the economy also has a significant impact on the retail sector who rely heavily upon the spending habits of the population in order to thrive. When the economy in the country of trade is in crisis, consumers are less likely to spend money on frivolous items and instead fo