Succeeding in the United States – or any single country – is certainly one thing. But it certainly does not guarantee success for retail companies when they enter new markets. Though international expansion is not even on the radar for some retailers, the majority of more established outfits have started to look overseas for increases in both revenue and profitability, and strategic planning is a key element when it comes to going global. Even if a country is close in terms of proximity, there are still many issues to be considered, including but not limited to: cultural differences, language barriers, logistics, legal and compliance regulations. That being said, the people at Storetraffic have put together this insightful infographic, which examines the entire thought process behind global expansion in the retail industry.
