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Accenture: Retailers gaining confidence but could saturate marketplace
An encouraging report and a warning are the takeaways from the latest Accenture Globalization Index. Key findings from Q1 2013 include more stores 'opening' new online retail outlets - many moving in to new countries or regions to engage more shoppers.
The Accenture Globalization Index indicates retailers are gaining confidence in the global economy - not only are many doing well in their home countries, but an increasing number are pushing into new markets, using the Internet to open stores across the globe.
"This quarter, the Accenture Globalization Index shines a light on two trends: the growing appeal of smaller format stores and the increasing number of international moves by emerging market-based retailers," said Christoper Donnelly, Accenture Retail, Global Managing Director. "Retailers are rethinking their investment in opening large stores in new markets, especially when they already have too much space in their home market. Instead, retailers are choosing to enter new markets with smaller format and temporary stores (pop-ups) to gauge consumer interest in the brand and the potential success of a permanent store presence."
Key findings include:
• Q1 2013 saw retailers move into 25 new countries; Q4 2012 saw fewer than 20 new market entries
• Mature market entries included Canada, The Netherlands and France
• Emerging market entries included Brazil and Chile as well as The Philippines and Malaysia
• Grocery brands are pushing fastest into these new markets
• No new brands entered the US market during Q1
"We believe the growing number of emerging market-based retailers expanding internationally suggests both a growing confidence amongst those retailers and, potentially, the early warning signs of saturation in some emerging markets," said Donnelly
Of those pushing into new markets, the report underlines that most brands expand when they are at the saturation point in their home market.
Image via Shutterstock
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