The globe can be daunting to retailers, but the use of calculated demographic data can educates retailers toward the country who shows greatest promise for retail growth. Retail is fast paced every changing environment and retailers look beyond their current customer base setting their sights abroad to expand into the uncharted fast growing markets of other countries. Global market penetration can seem risky business to retailer who are currently profitably, showing strong growth within their current consumer base, yet retailers understands the need to reach further into the global market and diversify. The changing retail landscape brought forth by technological channels, economic down turns and flat retail sales sends retailer digging deeper into each countries demographic data. Understanding how to put the pieces of data together can broaden a retailers vision whether to open their doors or look elsewhere where conditions are more favorable.
Growth Rates
Growth rate of various countries can be key indicators of where the next viable retail market might be developed. Population numbers can be the starting point for retailers, but numbers alone will not tell the whole story of a particular countries retail viability. Detailed research of a countries population, growth rate, age, economic stability and other pertinent information will give retailers an overall picture portfolio of whether a country is a profitable choice to expand into. Berman & Evans created table based on a global perspective of 10 selected countries from a population and demographic perspective (2011, pg. 175). This table is used for the purpose of why a retailer might choose a given country to expand into. From the data based on population growt...
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...re the critical guidelines whether a retailers risks out weighs potential profit.
Works Cited
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C.I.A. (2013). The world fact book. Retrieved from https://www.cia.gov/library/publications/the-world-factbook/
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The external factors impaction Macy’s in the retailing business and Martha Stewart Living Omnimedia are political, economic, technological, and social factors. There are two main factors impacting Macy’s retailing business. The first one is the advance of e-commerce in the 1990s and early twenty-first century. Customers were now exposed to online competitors who sometimes had the same products at a lower price. The second factor is the growth of specialty stores and discount stores such as Target and Wal-Mart. Due to the economy hardship customers were trading the higher levels of customer service and products selection to more affordable products in other to save money.
Many researchers have made efforts to study retail change, based on the assumption that they can gain an...
What exactly does it take to create a successful leading retail store? So many companies are in competition of gaining the shopper’s loyalty they end up neglecting other important aspects. A perfect retailer has to balance out high-quality, attractive prices, customer loyalty, and an enjoyable environment. “Target has experienced considerable growth in the last decade because its stores offer fashionable merchandise at low prices in a pleasant shopping environment.” (pg42) “It has developed an image of ‘cheap chic’.” (pg42)
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Retail today is part of the American spirit. Nothing excites an American consumer more when they are convinced that they are saving money and getting a great deal. Consumers today are familiar with popular mass-market discount retailers such as Walmart and Target. Both of these discount retailers undeniably offer great value on their products that convinced the American public that shopping experience will lower their cost of living, which just can’t get shoppers off their fix. Additionally, Walmart and Target competitively sell the same goods such as apparel, home goods, and grocery to offer a more convenient way to shop for their consumers. However, what makes these companies have their own niche, is that they both offer attractive ways to entice the customer to
Pearce II, J. A., & Robinson, R. B. (2011). Strategic Management 12th Ed. New York: McGraw-Hill/Irwin.
In the early 2000s, there was a decline in economic activity in developing countries. Moreover, its repercussions were also felt by developed countries, one of which is the the United States of America experienced an economic state, which showed recessionary qualities. However, in early 2002, there was slow yet positive economic growth, low interest rates, a strong housing market, rising unemployment, uncertain consumer confidence, and concern over consumer confidence. It’s expansion comes in the form of acquisition of EXPO Design Centers, retail shops in urban shops, and international branching, establishing itself in Canada and Mexico, through, yet again, acquisition of existing chains in their respective locations.
Hansen, Torben, and Hans S. Solgaard. New Perspectives on Retailing and Store Patronage Behavior: A Study of the Interface between Retailers and Consumers. Boston, Mass: Kluwer Academic Publishers, 2004. USC Upstate Ebook. Web. 28 February 2011.
Kotler, P., Keller, K.L. (2012). Marketing Management (14th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
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As the retail industry is confronted with extraordinary challenges (Deloitte LLP, 2011), firms are facing increased competition. Porters leading authority on competitive strategy is largely accountable for the increased importance to a firm’s strategy. The retail industry is becoming highly saturated as the world is becoming smaller; this point alone makes strategy a vital component to a firms success.
Rajagopal. "International Journal of Retail & Distribution Management." Emerald. Emerald Group Publishing Limited, 2011. Web. 21 Feb. 2014
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