When businesses enter a new market or begin aggressive expansion plans, they know that understanding that particular market is their key to success. So what better way to do this then by tapping into local populations for knowledge and advice, right? After all, locals have strong relationships, experience and knowledge. They’ve lived in these places for a long time, sometimes their whole lives. Can’t it go without saying that no one will be more knowledgable than they are? Not necessarily.
1 - Philippines’ Penshoppe eyes 25 new stores abroad
Filipino fashion retailer Golden ABC Inc. is expanding it business by opening more new stores locally and overseas this year. >>
Humans have long recognized the importance and value of maps in their daily lives. Mapping, or cartography, in a formal sense, has already become an integral part of human history for up to eight thousand years now. From abstract stick charts made by Polynesians to the ancient maps of Babylonia, Greece, and Arabia, through the Age of Discovery, and on into the 21st century. Maps are essential tools, which are used to help people define, explain, learn, and navigate their way around the world.
The concept of the retail trade zones has been used by analysts and practitioners in retail site evaluation and other market studies for a long time. In fact, retail trade zones correlate to urban commercial centers. Retail trade zone analysis and evaluation almost always focuses on locating and describing target markets, an essential action of virtually all business, but there are different ways to do this. Here are 3 ways to evaluate trade zones for extraordinary business insights: