When it comes to retail, globalization does not always work as planned. For example, in South Korea, shoppers disdain the American Wal-Mart, yet love E-Mart, a Korean-owned store with all the accoutrements of a sophisticated US store. “Glocalization” – the term that describes the combination of “global standards and local preferences” – is a tempting label to describe why Wal-Mart, the world’s...