November 16, 2017
Global expansion isn’t always easy – just ask Target.
To help kick off its expansion efforts into Canada, the retail giant took over the leases to 220 Zellers locations in 2011. About four years later, Target made a hasty retreat from the Great White North, shuttering its Canadian business almost overnight. Of course, this kind of expansion blunder (which cost the company roughly $7 billion) isn’t unique to Target. Other well-known companies – such as eBay and Best Buy – have faced their own struggles during forays abroad.
If you’re a marketplace looking to expand, how can you avoid a similar fate? Reduce the risk with data.
Far too often, businesses rely on ill-informed strategies that don’t ...