Getting A Piece Of The Global Retail Pie
January 2014 Integrated Solutions For Retailers
By Duncan Taylor, senior director of international business development, Epicor Retail
Retailers are going global at an accelerated pace, and not just for product sourcing. They are increasingly taking their brands global, and that has presented an entirely new set of challenges.
Retailers today are “heat-seeking” opportunities on a global scale. No longer limited by geography, retailers are taking their wares to all ends of the Earth, as technology creates markets with no borders. For U.S.-based retailers, some of the biggest growth markets are now overseas — particularly in the Asia-Pacific region. Case in point: China is projected to grow by more than $700 billion in 2014.
To successfully expand into new regions, retailers must plan accordingly. There are hurdles both in “landing” — entering a new market — and in “expanding” — growing a brand presence. Collaborating with experienced technology partners and hiring team leaders that have established roots and resources in target countries is a necessity.