Globalisation and cross-border expansion in retail have become increasingly prominent features in the digital age, with businesses adapting their strategies to take advantage of international opportunities.
With this in mind, we’re excited to announce the release of the Loqate Internationalisation Index in partnership with Planet Retail RNG and Retail Week.
As experts in location Intelligence, Loqate is in the unique position to demonstrate how a location is more than just a pin on a map.
We understand the situation on the ground and the unique circumstances of consumers wherever they are in the world.
“It will be no surprise to see retail royalty Amazon featured in the top 30, but refreshingly there are challengers hot on its heels ready to take the crown”
This research, the first of its kind, takes a deep-dive into the world’s top 30 retailers that are experiencing success beyond their local territories.
It also deciphers the demands of today’s digital savvy consumer and analyses the strategies executed to increase the top 30’s international appeal.
It will be no surprise to see retail royalty Amazon featured in the top 30, but refreshingly there are challengers hot on its heels ready to take the crown.
Asos, Boohoo, HelloFresh, Topshop and Zalando appear high up the rankings – particularly surprising when compared with the placing of colossal retailers from the US such as Walmart and Walgreens Boots Alliance, as well as the UK’s biggest retailer, Tesco.
Appreciating local markets
In this index you will learn how these retail giants, and movers and shakers, really appreciate the local markets they have chosen to expand into, what technology they are integrating to set them apart from the competition and how innovative partners are helping them to successfully execute their international strategies.
The Loqate top 30 know that convenience will make it easy for their customers to remain loyal and how to keep their product or service relevant.
But, beyond their local territory, the smartest are looking at what internationalisation truly means to them and how they can think global, but act local.
“Beyond their local territory the smartest of the top 30 are looking at what internationalisation truly means to them and how they can think global, but act local”
This means recognising each new territory individually – for example respecting local customs, taxes, geopolitical challenges and seasonality. But, most importantly, our top 30 appreciate why consumers buy the products and services they do.
It’s also important to note that many of the brands included would not have made it on to a traditional international retail ranking even five years ago.
Digital has become a key enabler of internationalisation and retailers that offer a positive online experience, wherever they are in the world, are the ones that will succeed.
If you think your business should be featured in the next top 30, please get in touch with either Retail Week, Planet Retail or Loqate to be considered for the Loqate International Retail Index 2019.
David Green is managing director of location Intelligence, Loqate – a GBG solution