Successful Global Retail

Global expansion is the mantra of the world’s largest retailers. Retail growth is fastest in Africa/Middle areas and Latin America where net profit margins are also the highest. Clearly the boost new markets are providing to overall growth for companies is substantial. But not every entry into a foreign country is successful. Local laws and restrictions sometimes can create unforeseen challenges. Local market dynamics making it difficult to operate. Different tastes means change of product assortments, adjust pricing and merchandise in-store differently; Respect local culture and adapt to local customs. And equally or even more important: Listen to customers and be flexible and be willing to change. Every market has a unique local flavor