International Retailing Success Factors

Innovations in transportation and communications during the twentieth century have resulted in the ability of goods and services to move among nations with greater ease than at any other time in history. International business is no longer the exclusive realm of the large multinational corporation; small businesses are creating marketing niches for themselves in particular product or service areas. When considering international marketing, companies must take into account their own internal structure, the role of the governments of the countries considered, and the way in which the company would operate in the foreign nation (whether directly, as part of a joint venture, or through some licensing effort). Political situations must be considered, and the labor situation in the foreign country (as well as in the domestic country) must also be taken into account. This research provides an overview of key success factors for international retailers in nine geographic regions.

Taken together, Canada and the United States form one of the most sought-after markets in the world, particularly in the area of consumer goods. Although there are cultural differences between the two countries, they share a common language (despite efforts by some Canadians to create a separate French-speaking country English remains the official language of Canada) and many of the same products are marketed in both nations. Perhaps most significantly, many of the same retailer

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Greece remained largely isolated from an economic standpoint. Part of this isolation was due to the lack of a stable government. The 1960s and early 1970s were characterized by military juntas, and these were followed by socialist practices that failed to stimulate the nation's economy (Morais, 2000, p. 88). In 1990, economic freedom in Greece was considered lower than that of Ghana, and only marginally better than the Congo Republic. In 1993, the nation's debt exceeded its gross domestic product, and in 1994, the per capital gross domestic product was approximately half that of Germany (per capita gross domestic product is one way of comparing the relative income of individuals within a particular nation) (Morais, 2000, p. 88). However, Greece was eager to adopt the euro (as one way to stabilize its currency) and was willing to adopt economic reforms in order to encourage the European Central Bank to allow the euro to be used in Greece. These reforms brought much-needed discipline to the Greek economy along with USD30 billion in subsidies (Morais, 2000, p. 88). The retail industry in Greece, as with other major industrial segments, continues to be controlled by a powerful and small group of businessmen. Retailers t

Category: Economics - I