Smalle International Retailing is specialized in international business development, start-up international retail projects and concepts. Market research, conceptually thinking, creative vision and retail coaching available.
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viernes, 1 de febrero de 2013
WEEKLY RETAIL PRESS RELEASE
WEEKLY INTERNATIONAL RETAIL NEWS Week 4
MEDIA MARKT LEAVES CHINA.....
What has been running as a rumor, since various months, has been confirmed. Retail giant Media Markt (Metro Group), has decided to close his 7 stores in China.
After 2 years of trying to expand in China, they have lost the battle, to concur the biggest growing consumer market in the world. Experts talk about one of the biggest retail failures of the last years.
The heavy local competitors and the huge increasing trend of the Chinese, to buy through E-commerce, the limited product group like electronics, next to the extremely high rental prices for spacious A1 store locations, has made it very difficult, especially, when selling at very low prices. It is clear, that you need more than being a world leader.., to be success full in China. Its starts, by understanding, their culture, dynamics and the very fast changing retail trends. As explained, in previous posts, Culture-Sensitive Marketing is very important.