Introduction
Due to global trade, three products are only available in a local U.S. store: coffee, spices, and electronics. Coffee is grown primarily in South American and African countries before being exported to U.S. stores. Spices are grown in tropical countries worldwide and exported to U.S. stores.
Main Body
Electronics are produced in nations like China, Japan, and Korea and imported into U.S. retail establishments. On the plus side, increased product diversity made possible by global trade benefits local retailers. This can broaden customer options and encourage more people to shop at the establishment. Additionally, international trade can provide local stores with access to goods that may not be available in their local area (Kotabe & Helsen, 2022). Because retailers will not have to worry about paying for the transportation of items from other regions of the nation, their profit margins may grow as a result. On the other side, local shops may suffer as a result of international trade. For instance, the importation of goods from foreign nations may raise competition and lower profit margins for local retailers (Kotabe & Helsen, 2022). Additionally, because of increasing transportation costs brought on by global trade, prices for goods in local stores may rise.
One occurrence that can significantly affect the availability or condition of products in a local U.S. store is a natural disaster. For instance, the critical coffee-growing region of Mexico’s state of Oaxaca experienced an earthquake in 2018 (Malkin, 2018). Due to the tremendous damage this earthquake did to coffee crops and processing facilities, there was a shortage of coffee available on the American market. Additionally, when natural disasters occur in other countries, such as a hurricane in the Caribbean, the prices of imported goods can increase significantly. I have observed that when natural disasters strike other nations, supplies may become limited, or prices may rise sharply.
Conclusion
Due to the fact that disasters can strike anywhere in the world at any time, this occurs frequently. For instance, a significant earthquake in Mexico may have an impact on the supply and cost of imported Mexican coffee. In addition, the price of locally imported fruits and vegetables may rise when a storm strikes the Caribbean. Therefore, global trade and events in other nations can significantly impact the availability and price of goods in nearby U.S. stores.
References
Kotabe, M. M., & Helsen, K. (2022). Global marketing management. John Wiley & Sons.
Malkin, E. (2018). Earthquake strikes in Oaxaca state, Mexico, stirring fear. The New York Times. Web.