Emerging Trends in International Trade

Digital transformation has facilitated the rise of e-commerce and enabled businesses to leverage AI for optimizing trade operations.

Sustainability and circular economy principles are central to minimizing waste and maximizing resource efficiency, shaping ethical trade practices.

Regional trade agreements, like EU and USMCA, reshape trade patterns by facilitating easier access to markets among member countries.

<p>Geopolitical tensions lead to protectionist measures that can disrupt supply chains and hinder economic growth through trade wars.</p> Signup and view all the answers

<p>Businesses can enhance supply chain resilience by diversifying their sourcing strategies and exploring new markets to mitigate risks.</p> Signup and view all the answers

<p>Personal preferences, marketing campaigns, economic conditions, group influences, purchasing power, and technological factors.</p> Signup and view all the answers

<p>Complex buying behavior occurs when consumers are highly involved and perceive significant brand differences, requiring detailed information and brand differentiation in marketing.</p> Signup and view all the answers

<p>Habitual buying behavior is characterized by low consumer involvement and minimal brand differences; marketing should focus on brand familiarity through repetitive advertising.</p> Signup and view all the answers

<p>Variety-seeking buying behavior involves low involvement but significant brand differences, with marketing strategies promoting trials of new products and highlighting unique features.</p> Signup and view all the answers

<p>Consumers often divide their purchases among different stores, even if all items are available at one location.</p> Signup and view all the answers

The use of digital technologies like e-commerce, blockchain, and AI to streamline and improve international trade operations.

International trade is increasingly incorporating eco-friendly practices like green trade and circular supply chains to minimize waste and maximize resource use.

Agreements among countries in a region to reduce or eliminate trade barriers, such as tariffs, and promote economic integration, e.g., EU, ASEAN, and USMCA.

International trade faces challenges due to trade wars or tariffs, and protectionist policies between countries, leading to potential supply chain disruptions.

The ability of a supply chain to withstand disruptions, such as natural disasters, pandemics, or geopolitical events, maintaining a constant flow of goods and services.

The study of how people choose, use, and discard products and services, considering their emotions, thoughts, and actions.

These are the elements impacting the decisions consumers make, including personal preferences, marketing campaigns, economic conditions, group influences, purchasing power, and technological advancements.

Happens when consumers invest a lot of effort and see big differences between brands.

Consumers invest a lot of thought but see few differences between brands, leading to uncertainty after buying.

When consumers have low involvement and see minimal differences between brands, often out of routine.