Waterford, the long desired Irish fine crystal, has been diversifying production over the last decade to other parts of the world like Slovenia and Brazil. That's manufacturing arbitrage.
How about customer arbitrage? My wife saw some Christmas ornaments at 50% off at a store today and called her sister in Ireland, Judy who collects Waterford. I thought about shooting a video of the ornaments and uploading to YouTube. Instead I have posted photos on a Pinterest board for Judy to approve. Those she picks will be transported by a friend from Ireland who is coming over for a holiday. We will all pray the nice packaging they came in will withstand TSA scrutiny. The ball at the bottom is particularly nice - it is the 2013 "Let there be Peace" Times Square New Year's Eve Ball replica.
Are they saving much? Probably not with the phone calls, the hassle etc. But watching Margaret so excited for her sister is worth the effort.
To me, it is a reminder of how consumers have evolved around the world. You have to shake your head that telcos, banks, airlines and so many other supposed "global brands" still continue to pretend we live in our geographic siloes.