By Craig Patterson
A recent study by eTail Canada, sponsored by Radial, provides insight and benchmarks from Canadian retailers about their most pressing challenges to international expansion, and strategies to combat them. The report can be downloaded here.
According to the report, more than one-third of Canadian retailers have started to expand their business into the Asia-Pacific region, as well as into Central and South America. With such expansions, Canadian retailers are engaging in new competitive markets with uncertainty — unfamiliar customs are the norm, though there are tremendous growth opportunities. Canada is a small country and opening business up to international markets can be lucrative, if done right.
As part of its analysis, the eTail Canada study recognizes that creating a great customer service experience abroad requires analyzing challenges to international expansion, building multi-location fulfillment strategies, and understanding cultural differences that will affect brand performance. The report discusses some of the most pressing challenges including:
· Centralizing distribution to reduce capital expenditure and gain better control over the supply chain,
· Identifying unique consumer preferences in international markets, and
· Finding global expertise to reduce operational costs and acquire customers.
Download the study to uncover interesting and valuable information that can also be used as a benchmarking tool for retailers considering international expansion, or those that have already started.