The Future of Retail: Targeting global consumers
RETAILERS are using online avenues to test international markets without investing significant sums in stores.
History is littered with failed attempts by retailers to take what appeared to be bullet proof propositions in the UK and apply them overseas only to find they do not translate well to international markets.
The relatively lower costs of providing foreign language websites are allowing retailers to market their wares to new audiences without the costs associated with shops and staff to run them.
And changes to the law at European level, such as a “Common European Sales Law” promise to help retailers further by reassuring potential customers concerned about their cross-border rights when shopping online.
James Haddleton, partner and retail specialist at law firm DWF, said: “It will give more upfront information on rights to the consumer and will increase the business people are willing to put through online.
“Legally, sale of goods legislation applies online, the same as it does in store but people don’t know whether that will be the case if they buy something in France.
It will open up the European market and give consumers more confidence in it.”
The growing international dimension to the UK retail sector is just one of the subject tackled in “The future of retail”, a new free 19-page supplement, available to download here, from TheBusinessDesk.com in partnership with Deloitte and DWF.
Quintessentially British brands are enjoying particular success in markets where people have growing disposable incomes to spend.
Andrew Coticelli, consumer business director for Deloitte in Leeds, said: “In emerging markets we are seeing middle classes developing which are really brand conscious. Burberry, for example, is doing well. In UK retail, the high end brands are doing well, partly because of their emerging market access.”
