Can you satisfy customers anywhere in the world?
International growth, then domination, is most retailers’ definitive goal.
However, only the best executors will expand without eroding margin.
TradeStone – the collaborative platform used by the retail community to find, design, source, buy and sell great products – tackled the core issues surrounding global expansion at an exclusive retailer roundtable recently, with B2B event management by Fieldworks.
Alongside senior figures from Debenhams and Church & Dwight, TradeStone discussed topics such as getting the right growth model, developing strategies for different models and geographies, and key considerations when expanding into new territories.
“Being ‘international’ is not impressive anymore – don’t underestimate the strength of local competition,” remarked keynote speaker Michael Benson, marketing director at Church & Dwight.
Michael would know; he’s spent the past 25 years building global brand experiences, and currently creates campaigns for the likes of Arm & Hammer, Batiste and Pearl Drops.
“It’s very important to be knowledgeable about shopping habits in each market,” he added. “It’s easy to assume that a product or brand will address the same need in new territories as they do at home. However, they may need to be positioned very differently due to the culture or history of that region.”
You can read our full interview with Church & Dwight’s Michael Benson via Retail Connections, our retailer community website.